Calgary, Alberta--(Newsfile Corp. - June 26, 2026) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "company") is pleased to announce that the Toronto Stock Exchange ("TSX") has accepted the company's notice of intention to renew its normal course issuer bid ("NCIB"). The renewed NCIB allows Baytex to purchase up to 70,899,359 common shares during the 12-month period commencing July 2, 2026 and ending July 1, 2027 or such earlier time as the NCIB is completed or terminated at the [Read more]
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US refining capacity fell by 263,000 barrels per day in 2025, says EIA
U.S. refining capacity fell by 263,000 barrels per day (bpd), or 1.43%, in 2025, driven by the planned conversion of a major Houston refinery and a Los Angeles-area plant that shuttered citing market dynamics in California, a state known for strict environmental regulations. Marathon Petroleum, based in Findlay, Ohio, continues as the largest refiner with 2.986 million bpd, or 16.4% of national capacity, according to a report released by the U.S. Energy Information Administration (EIA) on [Read more]
US energy firms add most rigs in a week since June 2022, Baker Hughes says
U.S. energy firms had the biggest weekly increase in rigs since June 2022, energy services firm Baker Hughes said in its report on Friday. The total oil and gas rig count, an early indicator of future output, rose by 10 in the week to June 26, the largest weekly jump in four years. The total reached 573, the highest since May 2025. Baker Hughes said this week's increase puts the total rig count up 26 rigs, or 5% above this time last year. The company said oil rigs climbed by seven to 440 this [Read more]
US diesel refining economics remain firm despite Iran war truce
The U.S. diesel futures crack spread, a measure of profitability for refiners, hit a three-week high as analysts said supply tightness for the product is set to persist even after a preliminary deal was reached to end the Iran war. The crack spread, calculated as the difference between the price of U.S. ultra-low sulfur diesel futures and U.S. crude oil benchmark West Texas Intermediate futures, settled at $62.84 a barrel on Thursday, the highest since June 3, LSEG data showed. Resilient [Read more]
Chevron eyes more deals to power US data centers
Chevron is exploring additional data center deals across the U.S., including the Midwest, Rockies, and Gulf Coast, following its two-decade-long contract to power a Microsoft data center in West Texas, a company executive told Reuters. Oil and gas companies such as Chevron and Exxon Mobil are angling to profit from the record-high electricity demand generated by Big Tech's AI-driven data center expansion, offering their natural gas and experience developing large and complex energy [Read more]
UAE stresses Hormuz security in rare call with Iran after war tensions
UAE Foreign Minister Sheikh Abdullah bin Zayed on Friday stressed the need to protect maritime corridors and ensure freedom of navigation through the Strait of Hormuz in a call with his Iranian counterpart Abbas Araqchi. The exchange, reported by state news agency WAM, marks a rare public contact between Abu Dhabi and Tehran following tensions linked to the U.S.-Israeli war on Iran. It was the first announced conversation between the two ministers since the U.S. and Israeli strikes on Iran, [Read more]
Barclays cuts Brent price forecasts for 2026 and 2027
Barclays on Friday cut its Brent crude price forecasts to $96 per barrel for 2026 and $85 per barrel for 2027, down from $100 and $88 respectively, after an increase in oil flows through the Strait of Hormuz. * Crude prices were on course for weekly losses, as more oil tankers exited the strait, easing supply concerns, even though a cargo vessel was hit near Oman on Thursday. * Data on Thursday showed that crude shipments through the strait rose this week to their highest since the [Read more]
Ukraine attacks Russian energy sites — What has been hit?
Ukraine has stepped up attacks on Russian energy facilities in recent months, targeting the country's infrastructurein a war now well into its fifth year. The drone attacks are worsening fuel shortages in Russia, where people have reported rising prices and long queues at the filling stations across most regions. Following is a summary of the attacks —starting with the most recent — and their impact: NORSI NORSI, Russia's fourth-largest oil refinery, owned by Lukoil, suspended [Read more]
Traffic through Strait of Hormuz slows after attack on ship
Fewer vessels transited the Strait of Hormuz on Friday than earlier this week, hours after a Taiwanese-operated ship was fired on by Iran, ship tracking data showed. The U.N. shipping agency temporarily paused its voluntary scheme to evacuate hundreds of stranded ships and thousands of seafarers from the Gulf after the ship was damaged in the attack close to the Omani side of the waterway. Nevertheless, at least four tankers including three very large crude carriers, which can each carry a [Read more]
Iran insists on right to control shipping in Strait of Hormuz after ship hit near Oman
Iran reasserted its right on Friday to control shipping in the Strait of Hormuz and warned Gulf states against siding with the U.S., a day after an attack on a ship near Oman highlighted the fragility of a preliminary deal to end the Iran war. Tehran was responding to what it called an "interventionist, irresponsible and provocative" joint statement by the U.S. and six Gulf states that rejected Iran's insistence that it could charge tolls on vessels transiting the strait. "Safe passage [Read more]
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