BOE Report

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Discount on Western Canada Select widens

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The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Wednesday. WCS for October delivery in Hardisty, Alberta, settled at $11.30 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.20 a barrel discount on Tuesday. * WCS discounts are not expected to be as narrow in the second half of the year as they were this spring. Western Canadian crude production continues to grow, with the oil-producing province [Read more]

Japan’s JERA inks LNG offtake from Alaska’s $44 billion export project

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Energy developer Glenfarne will supply Japan’s biggest power generator, JERA, with one million metric tons of LNG annually for 20 years, an advance for the $44 billion Alaska LNG project that has attracted doubts because of its high costs. Glenfarne is targeting a final investment decision (FID) for the Alaska LNG pipeline in late 2025 and a 2026 FID for the project’s LNG export components. Since taking a 75% stake and assuming the lead developer role in the Alaska LNG project in March, [Read more]

Cenovus ‘closing the door’ on higher bid for MEG Energy, CEO tells Bloomberg News

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Canada's Cenovus Energy does not plan to raise its bid for oil sands producer MEG Energy, despite a higher offer from Strathcona Resources, its CEO Jon McKenzie told Bloomberg News on Wednesday. Shares of MEG fell 2% to C$28.54, while Cenovus rose more than 3% to C$23.28. The takeover saga began in May when Strathcona launched a C$5.93 billion hostile bid for MEG Energy. Cenovus countered this with a cash-and-stock agreement in August. Since then, Strathcona has raised its stake in MEG [Read more]

BlackRock-led group in talks to raise around $10.3 billion for Aramco deal, sources say

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A group of investors led by BlackRock's Global Infrastructure Partners is in talks with lenders to secure up to $10.3 billion in financing for Aramco's Jafurah infrastructure deal, two sources with direct knowledge of the matter told Reuters. Banks including JPMorgan and Japan's Sumitomo Mitsui Banking Corporation are in talks to participate in the transaction, the two sources said, which will allow Aramco to raise cash upfront in return for steady payments over time. The debt financing [Read more]

Trump prioritising end to Ukraine war over Russia LNG sanctions, US energy secretary says

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U.S. Energy Secretary Chris Wright said President Donald Trump's priority is to bring the Russia-Ukraine war to an end, without larger disruptions, when asked how the U.S. would react to Chinese purchases of sanctioned Russian LNG cargoes. "President Trump's single greatest goal is prosperity in America and peace abroad," Wright said in a press conference at the Gastech conference in Milan. "He's looking at every possible avenue to get that war to end without overly large [Read more]

US oil stockpiles rise as crude exports fall and fuel demand slips, EIA says

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U.S. crude and fuel inventories rose last week amid a decline in exports and demand, the Energy Information Administration said on Wednesday. Crude stockpiles rose by 3.9 million barrels to 424.6 million barrels in the week ended September 5, the EIA said, compared with analysts' expectations in a Reuters poll for a draw of 1 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 365,000 barrels in the week, the EIA said. U.S. crude exports fell by 1.1 million barrels [Read more]

Just Two Weeks Away: Hear from the Government of Alberta and Other Key Voices in Canada’s Oil and Gas Industry

With only two weeks to go, momentum is building for the 3rd Annual Methane Mitigation Canada Summit, taking place September 24-25 at Hotel Arts Calgary, AB. This critical event unites leaders in the oil and gas industry to accelerate methane emissions reductions, at a time when the regulatory landscape continues to rapidly evolve. All eyes are on Alberta as the province’s methane equivalency agreement with the federal government nears its October 26, 2025 expiry date. What comes next could [Read more]

From Scrap to Solution: How Gas Compressor Conversions Are Powering Alberta’s Future

Across Alberta’s energy sector, a growing number of producers are rethinking how they approach aging equipment. What was once considered end-of-life — particularly surplus natural gas compressors — is increasingly being recognized as an opportunity. By converting these compressors into reliable power generation units, operators are cutting costs, improving efficiency, and advancing sustainability goals. With demand for affordable, dependable power rising across North America — in oilfield [Read more]

ELM Inc. announces strategic partnership with Willow Lake Metis Group (WLMG)

ELM Inc. is proud to announce a strategic partnership with Willow Lake Metis Group (WLMG) - an Indigenous-owned organization widely recognized for its leadership in energy services, infrastructure support, and community-driven business development. Established by the Willow Lake Métis Nation, WLMG delivers a range of industrial services, including workforce solutions, pipeline integrity, logistics, and environmental support. Their deep regional insight, Indigenous workforce model, and strong [Read more]