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Tokyo Gas to steer more than half of overseas investments to US in next 3 years, CEO says

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Tokyo Gas, Japan's top city gas provider, plans to direct more than half of the 350 billion yen ($2.3 billion) it has earmarked for overseas investments over the next three years to the U.S. to drive growth, CEO Shinichi Sasayama said. In October, Tokyo Gas unveiled a plan to invest up to 1.3 trillion yen in the years to March 2029, including 350 billion yen for overseas projects such as U.S. shale gas development. "North America is our top priority in our overseas strategy," Sasayama told [Read more]

Alberta-Ottawa agreement on methane targets stokes dismay for some, relief for others

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CALGARY - The prospect of building a new bitumen pipeline to the West Coast has garnered most of the attention since Ottawa and Alberta announced their sweeping energy accord late last month, but another item has left environmentalists dismayed and energy industry players pleasantly surprised. The federal and provincial governments have agreed to extend by five years the timeline for the oil and gas sector to reduce its methane emissions. Draft federal regulations had called for a cut of 75 [Read more]

Prospera Announces Financing Update

CALGARY, Alberta, Dec. 12, 2025 (GLOBE NEWSWIRE) -- Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) ("Prospera", “PEI” or the "Corporation") Convertible Debt Offering Prospera Energy Inc. (TSXV: PEI) is pleased to announce the closing of its previously announced convertible debt offering, raising total proceeds of $3,627,580. The proceeds have been allocated exclusively toward strengthening working capital, well reactivations, and production optimization. Through this offering, the Corporation [Read more]

Discount on Western Canada Select narrows

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The discount on Western Canada Select to North American benchmark West Texas Intermediate futures narrowed on Friday. WCS for January delivery in Hardisty, Alberta, settled at $12.80 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $13.20 on Thursday. * After spending much of the year in the $9-$11 range, in large part due to the Trans Mountain pipeline expansion, which has given Canadian oil producers additional export capacity, the WCS discount has [Read more]

Ovintiv Announces Retirement of Peter Dea from its Board of Directors

Steven Nance to Succeed Dea as Board Chairman DENVER, Dec. 12, 2025 /CNW/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced that Peter Dea will retire from its Board of Directors (the "Board") effective May 6, 2026. Steven Nance has been unanimously elected by the Board to replace Dea as Board Chairman. Mr. Dea joined the Board in 2010 and has served as Chairman since 2020. With over 40 years of leadership and value creation expertise in the [Read more]

STEP Energy Services Ltd. Announces Approval of Arrangement by Shareholders

CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. ("STEP" or the "Company") is pleased to announce that the shareholders of STEP (the "Shareholders"), at the special meeting of Shareholders held today (the "Meeting"), approved an arrangement (the "Arrangement") involving ARC Energy Fund 8 Canadian Limited Partnership, ARC Energy Fund 8 United States Limited Partnership, ARC Energy Fund 8 International Limited Partnership and ARC Capital 8 Limited Partnership (collectively, "ARC Energy [Read more]

Venezuela’s oil exports fall sharply after US tanker seizure as only Chevron ships sail – sources, data

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Venezuela's oil exports have fallen sharply since the United States seized a tanker earlier this week and imposed fresh sanctions on shipping companies and vessels doing business with the Latin American oil producer, according to shipping data, documents and maritime sources. Oil tanker movements into and out of Venezuelan waters have come to a near standstill as the U.S. prepares to seize more vessels. Washington is ratcheting up political and economic pressure on President Nicolas Maduro, [Read more]

US drillers cut oil and gas rigs for second time in three weeks, says Baker Hughes

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U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second time in three weeks, 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 one to 548 in the week to December 12, the lowest since November 26. Baker Hughes said this week's decline puts the total rig count down 41 rigs, or 6.9% below this time last year. Baker Hughes said oil rigs rose by one to 414 [Read more]

Venezuelan oil riches will stay mostly theoretical

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(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Yawen Chen LONDON, Dec 12 (Reuters Breakingviews) - The U.S. seizure of a sanctioned tanker has sharpened President Donald Trump's standoff with Venezuela’s Nicolás Maduro. It does not, however, make the country’s 300 billion barrels of theoretical oil reserves – the world’s largest – any easier to turn into usable supply. Even if Washington’s pressure campaign leads to tangible political change, oil [Read more]