The United States told the United Nations on Tuesday it will impose and enforce sanctions "to the maximum extent" to deprive Venezuelan President Nicolas Maduro of resources as Russia warned other Latin American countries could be next. U.S. President Donald Trump's administration has for months waged a campaign of deadly strikes against suspected drug trafficking boats off the Venezuelan coast and the Pacific coast of Latin America. He has threatened strikes on Venezuelan land. "The [Read more]
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US drillers add oil, gas rigs for first time in three weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Tuesday. The oil and gas rig count, an early indicator of future output, rose by three to 545 in the week to December 23. Baker Hughes released the rig count report a few days early due to the Christmas Day holiday. Despite this week's rig increase, Baker Hughes said the total count was still down 44 rigs from this time last [Read more]
Venezuela resorts to floating storage as onshore tanks fill up amid ship seizures
Venezuela's state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. The U.S. Coast Guard this month intercepted the Skipper and Centuries tankers in the Caribbean Sea, both fully loaded with Venezuelan crude, and was this week pursuing a third empty vessel that was approaching the OPEC country's shore. The actions targeting [Read more]
McLeod Lake Indian Band joins leadership of First Nations Natural Gas Alliance
Nations in B.C.’s interior expanding voice as part of the LNG supply chain By Will Gibson on December 22, 2025, 10:09 am MST Shawn Prince, an Indigenous employee of Duz Cho works on tree clearing in the Peace River district for the Coastal GasLink pipeline in 2020. Photograph for Canadian Energy Centre Indigenous communities across British Columbia are playing a critical role in building the foundation for LNG—from natural gas supply to pipeline corridors and export [Read more]
Calfrac Announces Closing of Oversubscribed Rights Offering
CALGARY, Alberta, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Calfrac Well Services Ltd. ("Calfrac" or the "Company") (TSX: CFW) is pleased to announce that it has closed its previously announced offering of rights (the "Rights Offering") to the holders of common shares of the Company ("Common Shares") as of the close of business (Toronto time) on November 21, 2025. The Rights Offering period expired at 5:00 p.m. (Toronto time) on December 19, 2025. The Company issued an aggregate of 13,011,153 Common [Read more]
AI data centers are forcing obsolete ‘peaker’ power plants back into service
* AI data center electricity demand revives peaker power plants * Peakers emit more pollution when they run than typical power plants * The power plants are often located in low-income, minority communities By Laila Kearney Dec 23, CHICAGO - In Chicago’s working-class Pilsen neighborhood, a 60s-era oil-fired power plant rises up from an industrial lot behind Dvorak Park, which in warmer weather is packed with children climbing on its colorful playground and zooming down [Read more]
Oil steady as market weighs Venezuela, Russia supply risks
Oil prices held steady on Tuesday after rising more than 2% in the previous session, as the U.S. said it might sell the Venezuelan crude it has seized, while Ukraine's attacks on Russian vessels and piers heightened fears of supply disruption. Brent crude futures edged lower by 6 cents, or 0.1%, to $62.01 per barrel by 0440 GMT. U.S. West Texas Intermediate (WTI) crude slipped 9 cents, or 0.16%, to $57.92. On Monday, Brent posted its best daily performance in two months and WTI climbed the [Read more]
Trump says it would be ‘smart’ for Venezuela’s Maduro to leave power
U.S. President Donald Trump said on Monday it would be smart for Venezuelan President Nicolas Maduro to leave power, and the United States could keep or sell the oil it had seized off the coast of Venezuela in recent weeks. Trump's pressure campaign on Maduro has included a ramped-up military presence in the region and more than two dozen military strikes on vessels allegedly trafficking drugs in the Pacific Ocean and Caribbean Sea near the South American nation. At least 100 people have been [Read more]
Strathcona Resources Ltd. Confirms Payment of Special Distribution and Provides Capital Structure Update
CALGARY, AB, Dec. 22, 2025 /CNW/ - Strathcona Resources Ltd. ("Strathcona") today confirmed the payment of its previously announced special distribution and provided further details regarding its pro forma capital structure. Special Distribution Strathcona today completed its previously announced special distribution of $10.00 per share via a plan of arrangement (the "Special Distribution"). Odyssey Trust Company expects to mail or wire, as applicable, the Special Distribution to each [Read more]
US might keep or might sell oil seized near Venezuela, Trump says
U.S. President Donald Trump said on Monday the United States would maybe keep and maybe sell the oil it had seized off the coast of Venezuela in recent weeks, adding the United States would also keep the seized ships. "Maybe we will sell it, maybe we will keep it," Trump said, adding it might also be used to replenish the United States' strategic reserves. (Reporting by Jarrett Renshaw and Steve Holland, Editing by Chris Reese) [Read more]
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