U.S. Supreme Court justices wrestled on Monday over whether lawsuits by Louisiana officials seeking to hold oil and gas companies, including Chevron and Exxon Mobil, responsible for harming the state's coast should be moved out of the Bayou State's courthouses and into federal court. The justices during a little more than an hour of oral arguments took up a narrow but crucial issue that will shape the outcome of more than 40 lawsuits filed more than a decade ago by several Louisiana coastal [Read more]
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Venezuela security, policy reform needed for US oil industry to move in, API chief says
Workforce security and policy reform including contract sanctity are among the prerequisites that have to be in place in Venezuela for the U.S. oil industry to move in, American Petroleum Institute President Mike Sommers said on Monday during a telephone conference with journalists. He said the move to remove Nicolas Maduro from power earlier this month had been welcomed by the U.S. oil industry, adding that energy assets in the country were large enough to attract significant interest. "Most [Read more]
Carlyle, Chevron-Quantum partnership among frontrunners for Lukoil assets, sources say
Private equity giant Carlyle, a group comprising oil major Chevron and Quantum Capital Group as well as UAE-based investor International Holding Company are competing for the global assets of Russia's Lukoil as a U.S. deadline to sell them expires this week, sources said. The United States imposed sanctions on Lukoil and its peer Rosneft in October to push the Kremlin to a peace deal with Ukraine and has given Lukoil until January 17 to sell its global portfolio, valued at $22 billion. The [Read more]
PetroChina meeting obstacles as it seeks to buy South Bow pipeline stake
CALGARY - PetroChina Canada Ltd. has run into obstacles as it seeks to take full ownership of an Alberta pipeline. The Canadian arm of the Chinese state-owned energy giant jointly owns the Grand Rapids Pipeline with Calgary-based South Bow Corp. That pipeline runs 460 kilometres from the oilsands region in northeastern Alberta to the Edmonton area. A recent Alberta Court of King's Bench decision says PetroChina was seeking to acquire South Bow's interest under an option contained in [Read more]
Iranian oil stored on water hits record high
Iran has a record amount of oil on the water, equivalent to about 50 days of output, with China having bought less because of sanctions and Tehran seeking to protect its supplies from the risk of U.S. strikes, data from Kpler and Vortexa shows. The amount of Iranian crude and condensate, either on tankers in transit or in floating storage vessels, reached a record high of 166 million barrels in the week ended January 11, according to shipping data provider Kpler, the highest level on record [Read more]
British Columbia seeks closer ties on trade and resources with India
British Columbia is seeking to deepen its commercial ties with India in sectors including liquefied natural gas, critical minerals, lumber and technology, the Canadian province's Premier David Eby said on Monday at the start of a six-day Indian visit. Both countries are seeking to rebuild trade ties after a two-year freeze and to diversify their supply chains in reaction to U.S. tariffs. "With unjustified tariffs from the U.S. impacting B.C. workers and businesses, it’s more important than [Read more]
How long can Wall Street shrug off Trump’s ‘visible hand’?: McGeever
If record-high U.S. stock prices accurately reflect investors' assessment of the first year of Trump 2.0, then it's a glowing scorecard for the most interventionist government in decades. It's yet another example of the topsy-turvy economic world where the global norms and orthodoxies of the last 40 years are being questioned and sometimes discarded by the U.S. president - who is rapidly becoming the market activist-in-chief. Under Donald Trump's direction, the U.S. government has taken [Read more]
Independent Proxy Advisory Firms Recommend NuVista Shareholders Vote “For” Proposed Ovintiv Transaction
ISS cites flexibility for NuVista Shareholders to realize certain cash value or continued participation in endorsing the Arrangement Your vote is important – Vote well in advance of the proxy voting deadline on Wednesday, January 21, 2026 at 8:00 a.m. (Calgary Time) NuVista Shareholders are encouraged to make an election with respect to their preferred form of consideration to be received for the Arrangement ahead of the Election Deadline of Wednesday, January 21, 2026 at 4:30 p.m. [Read more]
Trading houses beat US majors to first deals for Venezuelan oil
Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit and legal risks and securing a potentially lucrative business opportunity in the country with the world's largest crude reserves. U.S. President Donald Trump said U.S. majors would invest billions of dollars in Venezuela to quickly rebuild its dilapidated oil sector following the U.S. capture of President Nicolas Maduro earlier in January. [Read more]
Big Oil offers reality check to Trump’s Venezuela dream: Bousso
Big Oil companies have injected a heavy dose of realism into U.S. President Donald Trump's plan to rapidly invest billions in Venezuela, pointing to complex security, commercial and legal requirements to revitalize the country’s crumbling oil industry. On the face of it, Friday's televised White House meeting with the leadership of major U.S. and European oil producers was a win for the U.S. president. It projected a sense of urgency, coming less than a week after the ouster of Venezuela’s [Read more]
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