The Trump administration is dropping a 25% additional tariffs imposed on Indian imports over its purchases of Russian oil, in addition to lowering a country-specific tariff to 18% from 25%, a White House official said on Monday. "We are also dropping the 25% tariff given India's agreement to stop buying Russian oil," the official said. U.S. President Donald Trump announced the changes in a Truth Social post following a call with Indian Prime Minister Narendra Modi, but did not explicitly [Read more]
News
Why routine oil tanker traffic draws little concern in Eastern and Atlantic Canada
‘In Canada, shipping is much safer than your morning commute driving in a vehicle’ By Will Gibson on February 1, 2026, 11:52 pm MST Eastern Canada Marine Response Corporation conducts operations near Halifax, Nova Scotia. Photo courtesy R.Starkes/ECMRC A steady stream of more than 450 oil tankers calls at ports in Eastern and Atlantic Canada every year, drawing little public attention. That’s in part due to the industry’s safety record in the region, where accidents involving [Read more]
AI power needs may turn LNG glut to gap by 2030, says Qatar Energy CEO
Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday. LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S. Gulf Coast and Qatar's North Field Expansion expected to contribute sizeable volumes. "We [Read more]
Venezuela’s oil exports bounce to 800,000 bpd in January under US control -shipping data
Venezuela's oil exports bounced to some 800,000 barrels per day (bpd) in January under U.S. control, from 498,000 bpd in December, following the capture of President Nicolas Maduro and the end of an oil blockade on the country, which has allowed traders to carry most exports, shipping data showed. Washington in December imposed an oil embargo on the U.S.-sanctioned country to pressure Maduro and seized seven tankers. The blockade led to the accumulation of over 40 million barrels of crude and [Read more]
US natural gas futures plunge 19% as output rises and weather normalizes
U.S. natural gas futures plunged 19% on forecasts for a big change in the weather to near-normal levels through mid-February and on a jump in output as frozen wells thaw. Gas futures for March delivery on the New York Mercantile Exchange fell 81.4 cents, or 18.7%, to $3.54 per million British thermal units (mmBtu), putting the contract on track for its lowest close since January 16. Massive price changes over the past few weeks boosted historic or actual 30-day close-to-close futures [Read more]
InPlay Oil Corp. Confirms Monthly Dividend for February 2026
CALGARY, AB, Feb. 2, 2026 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on February 27, 2026, to shareholders of record at the close of business on February 13, 2026. The monthly cash dividend is expected to be designated as an "eligible dividend" for Canadian federal and provincial income tax purposes. About InPlay [Read more]
US shale producers Devon and Coterra to merge in a $58 billion deal
U.S. shale producers Devon Energy and Coterra Energy said on Monday they will merge in a $58 billion all-stock deal, creating a large-cap producer with a dominant position in the Delaware Basin as the industry consolidates to cut costs and boost scale. Under the deal shareholders will receive 0.70 Devon shares for each share held. Devon will own roughly 54% of the combined company. Devon shares fell 3% and Coterra dropped 2.7% in premarket trading on Monday, tracking a 5% decline in the [Read more]
Paramount Resources Ltd. Announces February Dividend
CALGARY, AB, Feb. 2, 2026 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) is pleased to announce that its Board of Directors has declared a cash dividend of $0.05 per common share that will be payable on February 27, 2026 to shareholders of record on February 13, 2026. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. ABOUT PARAMOUNT Paramount is an independent, publicly traded Canadian energy company that [Read more]
Devon Energy and Coterra Energy to Combine, Creating a Premier Shale Operator
OKLAHOMA CITY and HOUSTON, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Devon Energy (“Devon”) (NYSE: DVN) and Coterra Energy (“Coterra”) (NYSE: CTRA) today announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin. The combined company will be named Devon Energy and will be headquartered in Houston while [Read more]
China’s teapots buy Iranian oil to replace Venezuelan supply, sources say
Chinese independent refiners are buying discounted Iranian heavy crude to replace Venezuelan shipments that have stalled after the U.S. claimed control of the OPEC producer last month, two people with knowledge of the matter said on Monday. The drawdown of Iranian oil held in storage is making up for the drop in Venezuelan supply to the world's largest crude importer, they said. Venezuelan shipments to China have fallen sharply since mid-December after U.S. President Donald Trump imposed a [Read more]
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