U.S. Energy Secretary Chris Wright said on Tuesday the United States is not satisfied yet with reforms at the International Energy Agency (IEA). Speaking at a conference in Paris, he added that Washington does "not need a net-zero scenario" from the body and could leave the agency "if they insist that it's so dominated and infused with climate stuff". (Reporting by Kate Abnett, Forrest Crellin, Writing by Charlotte Van Campenhout, Editing by Benoit Van Overstraeten) [Read more]
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U.S. energy chief says Venezuela could boost output by “several hundred thousand bpd by year‑end”
U.S. energy secretary Chris Wright said on Tuesday that Venezuela could add "several hundred thousand barrels per day" to oil production by year-end. "I think you'll see several 100,000 barrels a day of additional production by the end of this year," Wright said speaking at a conference in Paris. (Reporting by Kate Abnet, Forrest Crellin, Writing by Charlotte Van Campenhout, Editing by Benoit Van Overstraeten) [Read more]
How Tourmaline achieves seamless data exchange within 48 hours of acquisition
In October 2023, Tourmaline Oil Corp acquired Bonavista Energy Corporation for $1.45 billion. It was their largest acquisition to date — Tourmaline’s number of wells effectively doubled overnight. Then came the hard part — transferring more than 6,000 well licenses between AB, BC, and SK and ingesting over 500,000 land and well files. An acquisition of this size would take most O&G companies months to complete. Magda Schmidt, Supervisor of Surface Land Admin at Tourmaline, [Read more]
Completion Superintendent Powers 6-Well Pad for $80 Per Day Using Site Gas
In West-Central Alberta, a Completions Superintendent at a large Oil and Gas Producer recently powered a six-well pad for around $80 per day (consuming 1.6 decs/day) by leveraging their own fuel gas. Evolution Power Projects, who supplied the 333 kW fuel gas turbine that powered the site, worked with the Operator to enact a pad electrification strategy. The choice to use a fuel gas turbine displaced multiple diesel generators and the accompanying fuel, logistics, and maintenance costs. Generator [Read more]
Gibson Energy Announces Closing of $215 Million Bought Deal Offering of Common Shares and Exercise in Full of Over-Allotment Option
Not for distribution to U.S. Newswire Services or for dissemination in the United States. CALGARY, Alberta, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. ("Gibson" or the "Company") (TSX: GEI) is pleased to announce the closing of its previously announced bought deal offering (the "Equity Offering") of common shares ("Common Shares"). Pursuant to the Equity Offering, Gibson issued a total of 8,160,325 Common Shares, inclusive of the Common Shares issued pursuant to the exercise in full [Read more]
Guyana’s oil growth potential rises as Venezuela tensions set to ease
The tiny oil-producing nation of Guyana, already one of the world's fastest-growing economies, has a window of opportunity for more expansion amid ongoing U.S. activity in neighboring Venezuela, geopolitical and oil experts said ahead of the Guyana Energy Conference. That growth potential will take center stage at the four-day event beginning on Tuesday in Georgetown, where executives and government officials will gather to discuss efforts to further train the local oil and gas workforce, [Read more]
Ottawa faces calls to send essential fuel to Cuba as U.S. widens oil blockade
OTTAWA - Prime Minister Mark Carney is facing mounting calls to speak out against the United States for widening its restrictions on fuel reaching Cuba, or to send aid to the country. For more than a year, Global Affairs Canada has warned travellers of "shortages of basic necessities, including food, medicine and fuel" across most of Cuba. In January, the island lost its main source of fuel when the U.S. took control of Venezuela's oil reserves. Canadian airlines have suspended flights to [Read more]
Citi says geopolitics to support oil near term; peace deals seen lowering prices
Oil prices could remain supported in the near term as U.S. President Donald Trump ramps up pressure for peace deals involving Russia and Iran, but a resolution later this year may ultimately push crude lower, Citi said on Monday. Brent crude has rallied from around $60 per barrel to near $70 in the past month, partly reflecting tighter enforcement of U.S. sanctions on Russian and Iranian oil, alongside other supply disruptions, the bank said. Last week, the European Union proposed [Read more]
Surge Energy Inc. Confirms March 2026 Dividend
CALGARY, AB, Feb. 16, 2026 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) confirms that a cash dividend to be paid on March 16, 2026, in respect of February 2026 production, for the shareholders of record on February 28, 2026, will be $0.043333 per share. The dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The [Read more]
Suffocating Western pressure may finally force Russian oil output cuts: Bousso
Russian oil producers could be forced to sharply cut output in coming months as tightening pressure from U.S. President Donald Trump and European powers restricts the country’s exports and its storage fills up, a development that would further dent the Kremlin’s war chest. Russian crude exports have remained broadly stable in recent years despite sweeping Western sanctions and a sharp reduction in energy purchases by Europe. Moscow successfully redirected most of its seaborne crude to China, [Read more]
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