The United States on Wednesday issued another round of Iran-related sanctions, taking aim at Iran's efforts to "monetize the Strait of Hormuz" with designations of 10 entities and eight more tankers, the U.S. Treasury Department said. Six of the entities targeted for sanctions were based in China, it said. The sanctions followed a vow by U.S. President Donald Trump earlier on Wednesday to hit Iran hard, according to an interview with Fox News, after the U.S. military said it had [Read more]
News
Break one kind of infrastructure to build another
Anyone suggesting we ‘advance’ trade discussions with the US by threatening to cut off or otherwise hinder energy supplies should be locked in a cage with a wolverine and a suppository and a mandate. I wish I was joking. But I’m not. The idea is so…bad. People. People. Stop hyperventilating. Stop throwing out panicked and insane ideas. Stop. Think. As a starting point, maybe think twice about threatening the energy supply of the most powerful nation on earth, the one that we overwhelmingly [Read more]
Cenovus reports Q2 profit up from year ago, raises 2026 production guidance
CALGARY - Cenovus Energy Inc. raised its production forecast for the year as it reported a second-quarter profit of $2.87 billion, up from $851 million a year ago. That amounted to $1.53 per diluted share, up from 45 cents per diluted share in the same quarter last year. Revenue totalled $17.4 billion, up from $12.3 billion a year earlier. Total upstream production was 970,400 barrels of oil equivalent per day, up from 765,900 boepd in the second quarter of 2025. Cenovus says it now [Read more]
Germany’s Uniper firms up 20-year LNG purchase deal with Canada
German state-controlled energy group Uniper on Wednesday finalised a 20-year liquefied natural gas purchase deal with Canada as the two nations deepen their partnership. In a preliminary deal in June, Uniper took initial steps to secure 2 million tons of gas per year from 2032 from Canada's LNG project Ksi Lisims on British Columbia's Pacific coast. That was after another German state-owned gas importer, SEFE, secured some Ksi Lisims capacity in May. Uniper already agreed on long-term [Read more]
Teeing Up Impact: Alberta Energy Leaders Invited to the 3rd Annual GDM Golf Charity Classic
In Alberta’s oil and gas sector, community impact has always gone hand-in-hand with operational excellence. Whether supporting local economies, driving innovation, or giving back to the communities where we work, the industry has a long-standing commitment to making a difference. This September, there’s another opportunity to do just that while enjoying a late summer day on the course with peers and partners! The 3rd Annual GDM Golf Charity Classic returns on September 2, 2026, at the [Read more]
SECURE announces second quarter 2026 results
Adjusted EBITDA(1) of $129 million, up 20% year-over-year on a per basic share(1) basis ($0.59) Revenue of $422 million, up 19% year-over-year Net income of $43 million, up 43% year-over-year on a per basic share(1) basis ($0.20) 2025 growth projects are now in service and contributing On track for $100 million of growth capital spend for 2026 Continue to expect GFL transaction to close in the second half of 2026 CALGARY, AB, July 29, 2026 /CNW/ - SECURE [Read more]
Cenovus announces second-quarter 2026 results
CALGARY, Alberta, July 29, 2026 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its second-quarter 2026 financial and operating results. In the quarter, the company generated approximately $5.0 billion of adjusted funds flow and $3.8 billion of free funds flow. Operating results in the quarter included Upstream production of 970.4 thousand barrels of oil equivalent per day (MBOE/d)1 and Downstream crude throughput of 451.5 thousand barrels per day (Mbbls/d), [Read more]
“Ugly and rusty,” Venezuela’s refineries are relics that will be hard to revive
The Paraguana Refining Center in Western Venezuela once symbolized the country's oil wealth and its ambition to turn vast crude reserves into fuels and export revenue. Today, the 955,000-barrel-per-day complex in Falcon state runs at a fraction of capacity, a decline decades in the making and unrelated to the strong earthquakes that struck Venezuela last month. In the months before the quakes, Reuters visited the area surrounding the Amuay and Cardon refineries that make up the Paraguana [Read more]
Saudi Arabia says it carried out strikes against Iran-backed militia targets in Iraq
Saudi Arabia said its armed forces carried out targeted strikes on Wednesday against Iran-backed militia targets in Iraq in coordination with U.S. Central Command, saying the action was in response to recent drone attacks on Saudi oil facilities. (Reporting by Ahmed Tolba in Cairo; Editing by Tom Hogue) [Read more]
Oil prices rebound by more than $2 a barrel on prospect of tightening US crude supplies
Oil prices rose by more than $2 a barrel in early trade on Wednesday on shrinking U.S. crude inventories, recouping some of the previous session's losses caused by a pause in fighting between Washington and Tehran. Brent futures increased by $2.71, or 3.2%, to $86.80 a barrel at 0002 GMT, while U.S. West Texas Intermediate (WTI) crude rose $2.26, or 3.4%, to $81.95. U.S. crude inventories fell by about 3.3 million barrels in the week ended July 24,market sources said on Tuesday, citing data [Read more]
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