U.S. oil major Exxon Mobil and Russian state-run energy giant Rosneft have signed a non-binding initial agreement to help Exxon recoup a $4.6 billion write-down it made on its activities in Russia in 2022 following Moscow's invasion of Ukraine, according to two sources familiar with the talks. The agreement marks a tentative step toward repairing commercial relations between the two countries, although little further progress is likely until Moscow makes enough advances toward a peace deal in [Read more]
News
WCD and StackDX Announce Strategic Partnership to Unlock the Future of AI-Enabled Land Management
Transforming legacy records into actionable insights, accelerating digital transformation and smarter decision-making. Calgary, AB – September 23, 2025 – WCD, Canada’s leader in back-office optimization, today announced a new imaging and digitization preferred partnership with StackDX, a leading technology provider of intelligent content and data management solutions for the energy industry. The partnership will deliver scalable, secure, and high-quality digitization services to power [Read more]
Teine Energy Ltd. – Non-Core Property Divestiture
Teine Energy Ltd. (“Teine” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in the Senlac area of Saskatchewan (the “Property”). Teine holds an average working interest of over 92% in the entire Property, which consists of approximately 32.5 sections of Crown land including P&NG rights in the Mannville Group. Teine is selling the Property in order to focus its operations on its core [Read more]
CPP Investments to Acquire Stake in Sempra Infrastructure Partners
TORONTO, Sept. 23, 2025 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced it has entered into a definitive agreement to acquire an approximate 13% indirect equity interest in Sempra Infrastructure Partners (Sempra Infrastructure) from Sempra for approximately US$3.0 billion, alongside affiliates of KKR, a leading global investment firm and an existing investor in Sempra Infrastructure. Sempra Infrastructure is a leading North American energy [Read more]
Explained: How Alberta is moving to speed up oil sands reclamation with mine water treatment
New standards to build on rules already in place for other mining sectors By Deborah Jaremko on September 17, 2025, 8:13 pm MDT Heavy haulers at an oil sands mining operation in northern Alberta. Photo courtesy Suncor Energy In what the former Chief of the Fort McKay First Nation calls “a critical step in the right direction,” the Alberta government is moving to accelerate reclamation of more than 1.3 trillion litres of water stored in oil sands tailings ponds. On Sept. 5, the [Read more]
Surge in shipping costs, WTI premiums threaten to shut US-Asia oil arbitrage
The arbitrage window to ship U.S. West Texas Intermediate crude to Asia has narrowed as tanker freight rates surge, while strong export demand pushes up premiums for the grade to multi-month highs, trade sources said on Tuesday. The U.S.-Asia arbitrage, which opened in late July, spurred demand for Very Large Crude Carriers (VLCCs) to embark on the two-month long journey, tightening vessel supply. U.S. exports to Asia will jump in September, Kpler's provisional data showed, with buying led [Read more]
AltaGas boosts Canada-Asia energy trade with new butane exports
Demand for versatile fuels rising to power higher living standards By Grady Semmens on September 21, 2025, 7:43 pm MDT AltaGas welcomed the 100th Very Large Gas Carrier (VLGC) to its Ridley Island Propane Export Terminal in Prince Rupert, B.C. in August 2022. Photo courtesy AltaGas A deal to supply Asian customers with butane shipped from the coast of B.C. promises to expand Canada’s global energy footprint, underscoring untapped potential and the benefits of diversifying beyond [Read more]
Iraq, KRG agree to restart oil pipeline to Turkey, officials say
Iraq's federal and Kurdish regional governments reached a deal with oil firms to resume crude exports via Turkey on Monday, two oil officials told Reuters. The breakthrough will allow exports to resume of about 230,000 barrels per day (bpd) from Iraqi Kurdistan which have been suspended since March 2023. "We will on Tuesday start technical procedures to prepare pipeline operations, with oil flows expected to restart within 48 hours, an oil official with knowledge of the agreement told [Read more]
Exxon greenlights $6.8 billion investment for Hammerhead project in Guyana
Exxon Mobil said on Monday it greenlit funding its seventh development project in Guyana called Hammerhead, bringing its oil joint venture another step closer to its goal of producing 1.7 million barrels of oil equivalent per day by 2030 from the country. The prolific Stabroek Block off the coast of Guyana is one of the most significant oil discoveries in years and has propelled the South American country to become the world's fastest growing economy. First oil from the $6.8 billion [Read more]
Parkland, Sunoco clear key U.S. regulatory hurdle for acquisition
CALGARY - Parkland Corp. and Sunoco LP say they have cleared a key U.S. antitrust hurdle in a US$9.1-billion deal that would see the U.S. fuel distribution giant buy the Calgary-based refiner and retailer. The two companies say the waiting period has expired under the Hart-Scott-Rodino Act, satisfying one regulatory approval that's needed for the deal to close. Under the act, companies planning to merge can't complete certain integration activities until authorities determine the deal will [Read more]
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