Venezuelan officials and oil executives have moved ahead with the migration of dozens of joint ventures to new terms approved in a sweeping government reform, but delays remain in finalizing the agreements needed to greenlight the projects, four sources involved in the preparations said. Venezuela's oil ministry had set July 28 as the deadline to complete the migration of all existing projects, but the numerous permits and agreements linked to core contracts have created obstacles. Among the [Read more]
News
Drone strike in Egypt sparks security concerns about Suez oil exports
A drone strike that damaged two gas tankers in Egyptian waters has renewed energy security concerns about the nearby Suez Canal and a related pipeline, a vital export route for Saudi Arabian oil since the beginning of the Iran war. Even as Iran and its Houthi allies have fired on tankers transiting the Strait of Hormuz and Bab el-Mandeb, Egypt's Suez Canal and Sumed pipeline continued to offer safe, northbound export routes for Saudi Red Sea energy cargoes. While no party has claimed [Read more]
Mideast oil faces bleak new order as Iran’s grip on Hormuz tightens: Bousso
Neither full-scale war nor peace is taking hold in the Middle East, trapping energy markets in an uncomfortable limbo that won’t be easy to escape. Worries about the reliability of Gulf supplies are becoming increasingly entrenched among buyers, creating an alarming new norm for the region’s producers. More than five months after the United States and Israel launched military strikes against Iran, the region's energy sector appears weaker and more vulnerable than at any point since the war [Read more]
China’s crude calculus in Iran war
Explosions tore through a natural gas port on Egypt's Mediterranean coast on Wednesday, with maritime security firm Ambrey reporting a U.S.-owned floating storage tanker there had been hit by a drone. The strike on Damietta, for which there was no claim of responsibility, came hours after Washington and Saudi Arabia hit Iran-backed paramilitary groups in Iraq, and after Iran fired ballistic missiles at U.S. forces overnight. President Trump, whose administration had only days earlier halted [Read more]
QatarEnergy buys 33 US LNG cargoes to offset Hormuz disruption, sources say
QatarEnergy (QE) has bought 33 spot LNG cargoes this year from the U.S. for delivery to South Korea, Taiwan, Bangladesh, India and Japan, four trade and industry sources said, as it tried to reduce disruption to key customers after Qatari gas exports through the Strait of Hormuz were halted by the Iran war. QE declared force majeure on its liquefied natural gas shipments after Iran closed the waterway to shipping, bottling up 20% of global oil and gas supplies from major producers that export [Read more]
Shell targets year-end decision on LNG Canada Phase 2
Shell is targeting a final investment decision on LNG Canada Phase 2 by the end of this year, its CEO said on Thursday. Shell is pursuing an expansion of LNG Canada, as it seeks to grow its LNG portfolio and capitalize on rising global demand for the fuel. The first phase of the project, which began operations in June 2025, has a capacity of 14 million metric tons per year, and its proposed expansion would double that. (Reporting by Stephanie Kelly and Shadia Nasralla; Editing by Susan Fenton) [Read more]
TC Energy tops quarterly profit estimates, approves C$700 million in pipeline expansion projects
TC Energy on Thursday beat second-quarter profit estimates and approved pipeline expansion projects worth about C$700 million ($498.36 million) across North America, including two U.S. projects aimed at meeting the rising demand from power generation. Surging electricity consumption, particularly from AI-driven data centres, has been boosting demand for natural gas-fired power plants, prompting pipeline operators such as TC Energy to invest in capacity expansions. The Canadian pipeline [Read more]
Shell plc publishes second quarter 2026 press release
July 30, 2026 02:01 ET | Source: Shell plc London, July 30, 2026 "Shell's operational performance enabled very strong results during another quarter of severe disruption in global energy markets, as we worked hard to provide critical energy supplies and products to our customers. Consistent with our strategy, we remain disciplined in our capital allocation, divesting non-core assets and investing in higher-quality growth opportunities, including the announced [Read more]
TC Energy reports strong second quarter 2026 operating and financial results
Solid execution and asset performance support higher end of 2026 financial outlook $0.7 billion of new growth projects sanctioned in second quarter, totaling approximately $3 billion of low-risk, accretive growth projects announced in 2026 CALGARY, Alberta, July 30, 2026 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its second quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, "Driven by safe [Read more]
Athabasca Oil Reports 2026 Second Quarter Results Highlighted by Leismer Expansion Milestones and Advancement of Corner Phase 1
CALGARY, Alberta, July 29, 2026 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reported second quarter results highlighted by continued execution of its funded growth strategy. The Company advanced the Leismer expansion and commenced the staged start-up of the next growth well pairs. Corner development activities are progressing as planned, with project sanction expected following confirmation of details under the Government of Alberta’s new fiscal [Read more]
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