U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since August, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by six to 542 in the week to December 19, the lowest since September. Baker Hughes said oil rigs fell by eight to 406 this week, their lowest since September 2021, while gas rigs held at 127 and [Read more]
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North Dakota rig count, frac crew count falls, state regulator says
(Adds quote from state regulator in paragraphs 3-4) HOUSTON, Dec 19 (Reuters) - The number of active rigs and hydraulic fracturing crews has fallen in North Dakota, according to the state's Department of Mineral Resources on Friday. North Dakota currently has 27 active rigs, down from 28 in November, while seven hydraulic fracturing crews are operating in the state, down from 10 last month. Companies have decreased activity owing to end of year budgetary reasons as well as a softer oil [Read more]
Tuktu Resources Ltd. Announces Mailing of Management Proxy Materials for Requisitioned Meeting
Calgary, Alberta--(Newsfile Corp. - December 19, 2025) - Tuktu Resources Ltd. (TSXV: TUK) ("Tuktu" or the "Company"), a junior oil and gas producer based in Calgary, Alberta, announces the mailing of proxy materials pertaining to the special meeting (the "Meeting") of the Company's shareholders ("Shareholders") in response to a requisition (the "Requisition") from certain shareholders (the "Dissident Group"), as noted in Tuktu's press releases dated October 23, 2025 and November 10, 2025. The [Read more]
Rogue texts, aliens and a marriage proposal – welcome to Vladimir Putin’s phone-in
President Vladimir Putin's epic annual press conference on Friday was punctuated by bizarre moments and occasional barbs from ordinary Russians venting their frustration via unfiltered text messages. As expected, the dominant theme was Russia's war in Ukraine, but Putin also fielded a host of offbeat questions from ordinary people who seized their once-a-year chance to grill him on any topic at the marathon event. A woman called Kristina asked Putin about aliens in outer space, and a young [Read more]
Surging barrels at sea spook oil markets more than Russia or Venezuela: Bousso
Oil prices slumped below $60 a barrel this week as investors try to make sense of U.S. President Donald Trump’s push to end the war in Ukraine and force out Venezuelan President Nicolas Maduro. Yet the real driver of prices in the months ahead is likely to be far more prosaic: a spike in global crude supplies, both on land and at sea. Global benchmark Brent crude oil futures plunged by nearly 3% on Tuesday to below $59, their lowest since early 2021, amid growing optimism that a peace deal [Read more]
Trump says he is not ruling out war with Venezuela, NBC News reports
U.S. President Donald Trump said he was leaving the possibility of war with Venezuela on the table, according to an interview with NBC News published on Friday. "I don’t rule it out, no," he told NBC News in a phone interview. Trump also said there would be additional seizures of oil tankers near Venezuelan waters, according to the published interview. On Tuesday, Trump ordered a "blockade" of all sanctioned oil tankers entering and leaving Venezuela, in Washington's latest move to [Read more]
Venezuela’s billions in distressed debt: who is in line to collect
Venezuela’s debt crisis is one of the largest unresolved sovereign defaults in the world, the legacy of years of economic collapse and U.S. sanctions that severed the country from international capital markets. The country has been in default since late 2017, when it missed payments on international bonds issued by the government and state oil company PDVSA. Since then, unpaid principal, accumulated interest and legal claims tied to past expropriations have swollen Venezuela’s total external [Read more]
Oil set to close lower for second straight week
Oil prices ticked down on Friday and were set to close lower for a second straight week, as rising prospects of a Russia-Ukraine peace deal offset concerns over supply disruptions from a blockade of Venezuelan oil tankers. Brent crude futures fell 9 cents, or 0.2%, to $59.73 a barrel by 0456 GMT, and U.S. West Texas Intermediate crude was trading 13 cents, or 0.2% lower, at $56.02 a barrel. On a weekly basis, Brent was 2.3% lower while WTI was down 2.5%. U.S. President Donald Trump on [Read more]
Energy Transfer Announces Suspension of Development of Lake Charles LNG
Energy Transfer Cites Focus on Capital Allocation Discipline DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE:ET) announced today that it is suspending development of the Lake Charles LNG project in order to focus on allocating capital to its significant backlog of natural gas pipeline infrastructure projects that Energy Transfer believes provides superior risk/return profiles. Energy Transfer management has determined that its continued development of the project is not warranted by Energy [Read more]
Putin to talk of war and peace at marathon news conference
Russian President Vladimir Putin is likely to send a signal to the United States and European powers on Friday over his appetite for peace or more war in Ukraine when he speaks at a marathon end-of-year news conference. Russia invaded Ukraine in February 2022, after eight years of fighting in eastern Ukraine, triggering the biggest confrontation between Moscow and the West since the Cold War. U.S. President Donald Trump, who says he wants to be remembered as a peacemaker, has repeatedly [Read more]
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