Global oil markets faced multiple black swan events in 2025 – including the Israel-Iran war and Ukrainian strikes on Russian refiners – yet they were barely fazed. This calm may be the new normal in an era of energy abundance, even as the world becomes a more dangerous place. By any measure, 2025 was a chaotic geopolitical year, dominated by President Donald Trump’s return to the White House in January and his blitz of policy, trade and diplomatic initiatives. A most pivotal moment for energy [Read more]
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China says US seizure of ships ‘serious violation’ of international law
China's foreign ministry on Monday said the United States' seizure of another country's ships was a serious violation of international law, after the U.S. intercepted a China-bound oil tanker off the Venezuelan coast. Venezuela has the right to develop relations with other countries, China's foreign ministry spokesperson Lin Jian said at a daily press briefing, adding that China opposes all "unilateral and illegal" sanctions. On Saturday, the U.S. Coast Guard intercepted a second oil tanker in [Read more]
U.S. carbon capture firm says Alberta ticks boxes to get technology off the ground
CALGARY - The chief executive of a U.S.-based carbon capture startup embarking on a project in Alberta's oilsands says Canada ticks a lot of the boxes needed to bring the emissions-reducing technology into widespread use. "Alberta specifically is a really great confluence of all the right factors coming together to give Canada a chance to lead in this ecosystem," said Cameron Halliday, co-founder of Cambridge, Mass.-based Mantel Capture. "You've got the policy support. You've got the [Read more]
Oil up on news the US intercepted an oil tanker off Venezuela
Oil prices rose on Monday after officials said the U.S. had intercepted an oil tanker in international waters off the coast of Venezuela, raising fresh supply uncertainty. Brent crude futures rose 46 cents, or 0.8%, to $60.93 per barrel by 0400 GMT, while U.S. West Texas Intermediate crude climbed 46 cents, or 0.8%, to $56.98. "The market is waking up to the fact that the Trump administration is taking a hardline approach to the Venezuelan oil trade," said June Goh, senior oil market [Read more]
Australia forces LNG exporters to keep a minimum amount for home market
Australia will make exporters of liquefied natural gas from the country's east coast keep up to a quarter of their output for domestic use from 2027, under a scheme unveiled on Monday to curb price spikes and help fill a long-forecast supply gap. The centre-left government of Prime Minister Anthony Albanese said it would work with exporters to design a system that puts a lower limit on the amount of gas held domestically, with a minimum local allocation of between 15% and 25%. The [Read more]
Venezuelan government rejects seizure of new vessel transporting oil
The Venezuelan government rejected the seizure of a new vessel transporting oil, it said in a statement on Saturday, describing it as a "serious act of international piracy," after the United States seized another tanker near the coast of the South American country. Venezuela "denounces and rejects the theft and hijacking of a new private vessel transporting oil, as well as the forced disappearance of its crew, committed by military personnel of the United States of America in international [Read more]
US seizes vessel off Venezuelan coast, officials say
The United States is interdicting and seizing a vessel off the coast of Venezuela in international waters, three U.S. officials told Reuters on Saturday, a move that comes just days after U.S. President Donald Trump announced a "blockade" of all sanctioned oil tankers entering and leaving Venezuela. This would mark the second time in recent weeks that the United States has seized a tanker near Venezuela and comes amid a large U.S. military build-up in the region. The officials, who were [Read more]
Baytex Closes U.S. Eagle Ford Sale
Calgary, Alberta--(Newsfile Corp. - December 19, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") today announced that it has closed the sale of its U.S. Eagle Ford Assets for net proceeds of US$2.14 billion (approximately $2.96 billion in Canadian dollars) after closing adjustments. This strategic divestiture significantly strengthens Baytex's financial position and sharpens its focus on a high-return Canadian energy platform, positioning the Company for [Read more]
Greenfire Resources Announces Closing of Rights Offering and Refinancing Initiatives
Calgary, Alberta--(Newsfile Corp. - December 19, 2025) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company") is pleased to announce the successful completion of its previously announced refinancing initiatives (the "Refinancing Initiatives"). The Refinancing Initiatives included a C$300.0 million offering of rights (the "Rights") to all eligible Greenfire shareholders to purchase additional common shares of the Company (the "Common Shares") which expired at 4:00 p.m. [Read more]
Dakota Access pipeline should continue operating, US Army Corps of Engineers says
The U.S. Army Corps of Engineers on Friday released a long-anticipated Environmental Impact Statement for the Dakota Access Pipeline (DAPL), recommending that operations of the oil pipeline continue with some conditions. The EIS, a document required by U.S. law to evaluate the environmental effects of major federal actions, is a win for DAPL operator Energy Transfer and a step closer to the end of a lengthy court battle between the company and nearby Native American tribes, who have been [Read more]
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