CALGARY, AB, Sept. 8, 2026 /CNW/ -- Alvopetro Energy Ltd. (TSX-V: ALV) (OTCQX: ALVOF) is pleased to announce that we have entered into an earning agreement (the "Agreement") in the Mannville heavy oil fairway, adding 28 gross sections (14 net) of high-quality heavy oil lands to complement and expand on our existing Mannville position. Under the Agreement, Alvopetro has agreed to drill five earning wells commencing in Q4 2026, at an estimated cost of C$8.5 million. The program will [Read more]
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Tamarack Valley Energy and Headwater Exploration sign merger deal
CALGARY - Tamarack Valley Energy Ltd. and Headwater Exploration Inc. have signed a merger deal valued at $10 billion that they say will bring together their operations in the Clearwater region in Alberta. Under the proposed transaction, Headwater shareholders will receive one share of Tamarack for each Headwater common share they hold. Tamarack shareholders will own 66.5 per cent of the combined company, while Headwater shareholders will own 33.5 per cent. Tamarack shares closed at [Read more]
Europe’s winter gas drama could leave deep scars: Bousso
Soaring European natural gas prices, driven by the Iran war, threaten to inflict a fresh round of economic pain on the continent just as it races to rearm, build out its AI capabilities and fend off intensifying competition from China. The damage could be long-lasting. Benchmark European gas prices climbed to €75 per megawatt hour (MWh) last week, more than double their level a year ago. They hit their highest level since late 2022, when Russian President Vladimir Putin's full-scale invasion [Read more]
Oil product flows out of Hormuz strait at 35% of pre-war levels, says Goldman exec
Oil product flows out of the Hormuz strait are at 35% of pre-war levels, compared with 70% for crude oil, a Goldman Sachs executive said on Tuesday. "The Middle East supply shock is bigger for products than crude, especially for the heavier products such as diesel," Goldman Sach's co-head of global commodities research Daan Struvyen told the APPEC conference, without specifying exact volumes. Around 2.2 million barrels per day of refined products such as diesel, gasoline, jet fuel and [Read more]
Iran’s president says Tehran to resist until ‘aggressors are regretful’, post on X
Iran will continue its resistance with strength until "aggressors" become regretful and its rights are defended, President Masoud Pezeshkian said on Tuesday, pointing to a less conciliatory tone from Tehran. "The Islamic Republic of Iran has always been against war and has considered the preservation of people's interests and regional security to lie in refraining from conflict. However, just as it has boldly risen to defend against aggression up to this day, it will continue this resistance [Read more]
Tamarack Valley Energy and Headwater Exploration Announce $10 Billion Strategic Combination to Create a Premier North American Oil Producer and a New Growth-Oriented Exploration Company
CALGARY, AB, Sept. 8, 2026 /CNW/ -- Tamarack Valley Energy Ltd. (TSX: TVE) ("Tamarack") and Headwater Exploration Inc. (TSX: HWX) ("Headwater") are pleased to announce they have entered into a definitive arrangement agreement whereby the two companies will merge in an all-stock transaction valued at $10 billion (the "Transaction"), creating a premier North American oil company that combines top-tier profitability with an unmatched position as the only [Read more]
Yemen’s Houthis say they attacked Saudi Aramco facilities in broad operation
Yemen's Iran-aligned Houthis said on Tuesday they attacked with drones and ballistic missiles Saudi energy sites belonging to oil giant Aramco in southern areas, with the group's military spokesperson calling it "a broad operation." (Reporting by Nayera Abdallah, Editing by Michael Georgy) [Read more]
South Korea’s power demand set to soar on AI boom as nation weighs expanding nuclear energy
South Korea's demand for power in the coming years is set to surge on plans by chipmakers Samsung Electronics and SK Hynix to expand production and the building of new AI data centres, according to the country's energy minister. Those AI-driven power needs alone will lift South Korea's demand for power by 25 to 30 gigawatts, the Minister of Climate, Energy and Environment Kim Sung-whan said in a Reuters interview this month. On top of that, the country will also need to contend with [Read more]
Global diesel supply to stay tight through winter, industry execs say
Global diesel supply will remain tight due to a lack of spare refining capacity, Russia's ban on exports and the approach of peak winter demand, senior industry executives said on Tuesday. The wars in Ukraine and Iran have impacted refineries in Russia and the Middle East, pushing diesel margins to record levels in Europe and the U.S., while reducing crude supplies to Asia. "There's really a shortage of products because we're missing 2 million barrels a day from Russia, and we're missing [Read more]
Iran threatens US with new ‘economic warfare’ and missiles as Houthis attack Saudi Arabia
Iran threatened the United States with "economic warfare" on Tuesday and said it had fired an advanced missile at U.S. warships, underscoring the risks of further escalation in the war only days after both sides traded blows again. The six-month-old war has been marked by a cycle of pauses followed by periodic flare-ups, with the U.S. last reporting attacks on Iranian targets on Saturday, when U.S. forces struck three Iranian oil tankers. Iranian state media on Sunday reported that Iran fired [Read more]
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