Western sanctions on Russia and Iran are creating record volumes of oil kept in floating storage, preventing a supply glut from forming in global markets, Gunvor Group's CEO said on Wednesday. The European Union, United Kingdom and the United States have imposed a raft of sanctions against Russia over its war in Ukraine, with the latest U.S. embargo targeting Russia's two top oil producers Rosneft and Lukoil last month. "Through the sanctions that we've had around the world, an enormous [Read more]
News
Oil dips amid broader market selloff, strong dollar pressure
Oil prices dipped on Wednesday amid a wider slump in financial markets and a strong U.S. dollar, while investors assessed the supply outlook. Brent crude futures edged lower by 6 cents, or 0.1%, to $64.38 a barrel by 0408 GMT, having touched a near two-week low in the prior session. U.S. West Texas Intermediate crude was down 10 cents, or 0.17%, at $60.46. The risk-off tone across markets saw investors exit energy markets, ANZ analysts wrote in a Wednesday client note. Asian stocks [Read more]
Spartan Delta Corp. announces third quarter 2025 results and operations update
CALGARY, AB, Nov. 4, 2025 /CNW/ - Spartan Delta Corp. ("Spartan" or the "Company") (TSX: SDE) is pleased to report its unaudited financial results for the three and nine months ended September 30, 2025 and recent operational results. Selected financial and operational information is set out below and should be read in conjunction with Spartan's unaudited interim financial statements and related management's discussion and analysis ("MD&A") for the three and nine months ended [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Nov. 3 Site Administrator Strike Group High Level Nov. 3 Project Controller Strike Group High Level Nov. 3 Lead Hand - Pipeline Integrity Strike Group High [Read more]
Ovintiv expands in Montney shale with USD $2.7 billion deal for NuVista
Ovintiv said on Tuesday it would buy the rest of NuVista Energy in a cash-and-stock deal valued at $2.7 billion, including debt, strengthening the shale producer's presence in Canada's Montney basin. Last year, the North American company had acquired oil assets from Canadian firm Paramount Resources in the Montney shale for $2.38 billion in cash. "This acquisition, combined with the inventory additions from our bolt-on acquisition work in the Permian is putting our investors into top tier [Read more]
Discount on Western Canada Select narrows
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures narrowed on Tuesday. WCS for December delivery in Hardisty, Alberta, settled at $11.05 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared to Monday's close of $11.10. * "The bidding war for Canadian crude remains very strong and the result has been tighter than typical differentials for this time of year," said RBN Energy analyst Martin King. * International [Read more]
Suncor Energy beats third-quarter profit estimates on higher production
Canada's integrated oil and gas firm Suncor Energy beat third-quarter profit estimates on Tuesday, as higher production helped offset lower prices. Canadian oil producers are also gaining from the expanded Trans Mountain pipeline, which opens access to global markets and lessens their dependence on the U.S. pipeline system. The company's total upstream production was at 870,000 barrels per day in the quarter, compared with 828,600 bpd a year earlier. Crude prices averaged $68.33 per [Read more]
NuVista Energy Enters Into Agreement to be Acquired by Ovintiv
$18.00 per NuVista Share Purchase Price, payable 50% in cash and 50% in Ovintiv Shares, represents a 21% premium to NuVista’s unaffected 20 day volume-weighted NuVista Share price as of September 19, 2025 (1), and above any closing price in the last 15 years Cash and highly liquid share consideration provides NuVista Shareholders with near-term value certainty, while maintaining upside participation in a larger, investment-grade producer with exposure to two of North America’s top shale [Read more]
Ovintiv Reports Third Quarter 2025 Financial and Operating Results
Full Year Production Guidance Increased, Capital Investment Unchanged Highlights: Generated cash from operating activities of $812 million, Non-GAAP Cash Flow of $895 million and Non-GAAP Free Cash Flow of $351 million after capital expenditures of $544 million Third quarter production was at or above the high end of the guidance range on every product with average total production volumes of 630 thousand barrels of oil equivalent per day ("MBOE/d"), including 212 thousand barrels per [Read more]
MEG Energy Announces Third Quarter of 2025 Results
CALGARY, AB, Nov. 4, 2025 /CNW/ - Results Release: Monday, November 10, 2025 after market close The Company's financial statements will be available on MEG's website at www.megenergy.com. About MEG MEG is the leading pure-play in situ thermal oil producer in Canada. Our purpose is to meet the growing demand for energy, produced safely and reliably, while generating long-term value for all our stakeholders. MEG produces, transports and sells our oil (AWB) to customers [Read more]
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