Oil prices were little changed on Wednesday but are set to fall more than 15% for 2025, as supply outpaced demand in a year marked by wars, higher tariffs and OPEC+ output and sanctions on Russia, Iran and Venezuela. Brent crude futures, down nearly 18% - the most substantial annual percentage decline since 2020 - are on track for a third straight year of losses, their longest-ever losing streak. The March contract, which expires on Wednesday, rose 11 cents to $61.44 a barrel at 0451 [Read more]
News
UK’s Harbour Energy named operator of Mexico’s Zama oilfield
Britain's North Sea-focused Harbour Energy said on Wednesday it has been named operator of the Zama oil field in Mexico, after project partners Pemex, Grupo Carso and Talos Energy agreed to the appointment. The announcement comes days after Harbour sealed a $3.2 billion deal for LLOG that will give it entry into the Gulf of Mexico, and positions the company as operator of two of Mexico's most important offshore oil projects. "Once onstream, Zama will contribute materially to Mexico's domestic [Read more]
Prairie Provident Announces Share Consolidation
CALGARY, Alberta, Dec. 30, 2025 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX:PPR) announces that, further to the special resolution of Prairie Provident shareholders passed at the annual and special meeting of shareholders held May 22, 2025, the Company will implement a 30-to-1 consolidation of its outstanding common shares (the "Consolidation"), on the basis of one post-Consolidation common share for every 30 pre-Consolidation common shares. [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Dec. 30 Field Operator Roska DBO Rocky Mountain House Dec. 28 JOURNEYMAN/3RD-4TH YEAR APPRENTICE HEAVY DUTY MECHANIC - (WCT) Trican Well Service [Read more]
US drillers add oil, gas rigs for second week in a row, Baker Hughes says
U.S. energy firms this week added oil and gas rigs for a second week in a row, energy services firm Baker Hughes said on Tuesday. The oil and gas rig count, an early indicator of future output, rose by one to 546 in the week to December 30, its highest since December 12. Baker Hughes released the rig count report a few days early due to the New Year's Day holiday. Despite this week's rig increase, Baker Hughes said the total count was still down 43 rigs, or 7.3% below this time last year. [Read more]
Oil tankers still arriving in Venezuela despite US blockade, data shows
At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA's effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum. U.S. President Donald Trump this month announced a blockade of all sanctioned vessels going in or out of Venezuelan waters as part of a strategy to pressure Venezuelan President Nicolas Maduro. The U.S. move has cut oil exports this [Read more]
Commodities buffeted by Trump whirlwind seek relief in 2026: Russell
Commodities were pelted in 2025 by the whirlwind of tariffs and policies imposed by U.S. President Donald Trump, and while the storm may recede in 2026, the ripples will last some time. Trump's efforts to remake global trade and his shifting geopolitical moves have boosted volatility in commodity markets, with prices being driven by daily headlines rather than fundamentals. This has created winners and losers, a trend likely to persist into 2026, even if the Trump administration calms its [Read more]
Oil prices little changed as investors seek clarity on Russia-Ukraine talks
Oil prices were little changed on Tuesday following a gain of more than 2% in the previous session after Russia accused Ukraine of attacking President Vladimir Putin's residence and investors sought clarity on Ukraine peace talks to gauge potential supply disruptions. Brent crude futures for February delivery, which expires on Tuesday, were down 2 cents at $61.92 a barrel as of 0314 GMT. The more active March contract was at $61.44, down 5 cents. U.S. West Texas Intermediate crude eased 5 cents [Read more]
Frontera signs deal to supply crude oil to Chevron unit for up to $120 million
Frontera Energy's Colombian unit has signed a prepayment and commercial agreement worth up to $120 million with a unit of U.S. oil major Chevron to supply crude oil over two years, the Canadian oil producer said on Monday. Under the deal, Frontera will receive an initial $80 million advance and supply a portion of its crude output to Chevron Products Company. Frontera may seek an additional $40 million advance for up to six months on a fully committed basis. The agreement replaces an existing [Read more]
AltaGas Reaches New Long-Term RIPET Labour Agreement
CALGARY, AB, Dec. 29, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) is pleased to have reached a new five-year labour agreement with the International Longshore and Warehouse Union Local 523B at the Ridley Island Propane Export Terminal ("RIPET"). The agreement has been fully ratified, and union employees returned to work on December 25. Throughout the 28-day labour disruption, AltaGas remained committed to working collaboratively with our union partner to achieve a fair [Read more]
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