U.S. energy firms this week added rigs for a fifth week in a row for the first time since early June, boosting the total count to its highest since April 2025, energy services firm Baker Hughes said in its closely followed report on Friday. The total rig count, an early indicator of future output, rose by seven to 588 in the week to July 17. Baker Hughes said this week's increase puts the total rig count up 44 rigs, or 8% above this time last year. Baker Hughes said oil rigs rose by seven to [Read more]
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ConocoPhillips joins BP in Iraq as Baghdad seeks more US energy investment
ConocoPhillips said on Friday it had agreed to acquire a 42% stake in BP Energy Company of Kirkuk Ltd from BP, joining the British oil major in redeveloping four producing oilfields in northern Iraq. The agreement is expected to be signed during Iraqi Prime Minister Ali al-Zaidi's official visit to Washington, where he is seeking greater U.S. investment in Iraq's oil, gas and power sectors following disruptions caused by the conflict involving Iran. The contract covers more than 3 billion [Read more]
Trump could get a lesson on Iran from an unlikely source — emus: Russell
For U.S. President Donald Trump, Australia's failed "Great Emu War" nearly a century ago offers a highly relevant lesson: technological superiority does not guarantee victory against a dispersed and resilient foe. At first glance, efforts to prevent flocks of large, flightless birds from devastating farmland seem to have little in common with the current conflict between the U.S. and Iran. Yet the parallel is clear. Both conflicts pit a powerful, technologically advanced military against a much [Read more]
Oil rises on intensifying US-Iran hostilities, threat of Red Sea closure
Oil prices rose on Friday after the U.S. and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of Hormuz and with Tehran asking the Houthi political and military organisation to stand ready to shut the Red Sea export route. Brent crude futures rose 70 cents, or about 0.83%, to $84.93 a barrel at 0312 GMT, while U.S. West Texas Intermediate futures rose 81 cents, or 1.03%, to $79.76 a barrel, erasing losses from the previous session. Both [Read more]
Pembina Pipeline Declares Quarterly Preferred Share Dividends and Announces Second Quarter 2026 Results Conference Call
CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors has declared quarterly dividends for the Company's preferred shares, Series 1, 3, 5, 7, 15, 17, 21 and 25. Series 1, 3, 5, 7, and 21 preferred share dividends are payable on September 1, 2026, to shareholders of record on August 4, 2026. Series 15 and 17 preferred share dividends are payable on October 1, 2026, to shareholders of record on [Read more]
Global energy security at risk if Strait of Hormuz does not open in weeks, IEA chief says
If the U.S. and Iran do not increase oil flowing through the Strait of Hormuz soon, the world should worry about energy security, International Energy Agency Executive Director Fatih Birol said on Thursday. "Oil security is still a critical issue," Birol told a Council on Foreign Relations event. "We should be worried, and I am worried, if the situation does not improve in the next few weeks." The Strait of Hormuz, a narrow waterway between Iran and Oman that normally carries about one-fifth [Read more]
Cavvy Energy To Hold Conference Call And Webcast To Discuss Second Quarter 2026 Results
Not For Distribution to United States News Wire Services or Dissemination in United States CALGARY, Alberta, July 16, 2026 (GLOBE NEWSWIRE) -- Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) will release its financial and operating results for the second quarter of 2026 on Tuesday, August 11, 2026, after market close. President & Chief Executive Officer Darcy Reding and Chief Financial Officer Adam Gray will discuss the financial results and recent company developments on an [Read more]
Paramount Resources Announces Completion of Distribution of AKITA Drilling Shares
This press release is being issued pursuant to section 5.2 of National Instrument 62-104 -Take-Over Bids and Issuer Bids. CALGARY, AB, July 16, 2026 /CNW/ -- Paramount Resources Ltd. ("Paramount") (TSX:POU) has completed the previously announced dividend in kind to its shareholders of 19,264,270 common shares of AKITA Drilling Ltd. ("AKITA Shares"). Paramount no longer owns or controls any AKITA Shares. About Paramount Paramount is an independent, publicly traded [Read more]
US refiner margins hit new records as fuel shortage concerns grow
U.S. refiner margins registered a fresh record high for the third consecutive session on Thursday, as low stockpiles and worsening tensions in the Middle East threaten potential supply shortfalls in the world's largest fuel consuming nation. U.S. refiners have been the biggest beneficiaries of the Iran war as international buyers have clamored for their supplies, pushing the country's fuel exports to record highs. As a result, however, domestic fuel stockpiles have dropped and lifted fuel prices [Read more]
Keyera tells Competition Tribunal $5.15B Plains purchase ‘pro-competitive’
CALGARY - Keyera Corp. has told the Competition Tribunal that its purchase of Plains' All American Pipeline LP's natural gas liquids business does not amount to the acquisition of a "vigorous, effective rival" and was instead a "pro-competitive development." The Competition Bureau announced in May that it had applied to the court-like tribunal to challenge the $5.15-billion deal, which closed shortly thereafter. The federal watchdog argues the purchase is likely to harm energy producers [Read more]
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