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India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on Wednesday will quickly undo the gains, with no easy solutions in sight. Analysts estimate India has saved at least $17 billion by increasing oil imports from Russia since early 2022. U.S. President Donald Trump's decision to impose additional tariffs of up to 50% on Indian imports could slash exports by more than [Read more]

Oil prices steadied on Wednesday, after falling in the previous session, as the market watched for fresh developments in the Ukraine war and investors weighed hefty new U.S. tariffs on India, the world’s third-biggest crude consumer. Brent crude futures rose 1 cent to $67.32 per barrel at 0354 GMT, while West Texas Intermediate (WTI) crude futures were up 8 cents at $63.33. Both contracts fell over 2% on Tuesday after beginning the week on a two-week high. "A lot of uncertainty over how [Read more]

Goldman Sachs expects the price of Brent crude futures contracts to decline to the low $50s a barrel by late 2026 due to an increase in the surplus of oil next year. "We expect the oil surplus to widen and average 1.8 million barrels per day in 2025 Q4 (through) 2026 Q4, resulting in a nearly 800 million barrel rise in global stocks by end 2026," the U.S. investment bank said in a client note on Tuesday. It estimated that stored oil in member countries of the Organisation for Economic [Read more]

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 Aug. 26 Turnaround Execution Coordinator Roska DBO Ft.McMurray Aug. 26 Field Operator Roska DBO Beaverlodge Aug. 25 Plant Operator Roska DBO Grande [Read more]

Two major rail operators have taken themselves out of the merger game that has gripped the industry for the past month, reshaping the competitive landscape and raising the regulatory stakes for Union Pacific's proposed $85 billion tie-up with Norfolk Southern. Canadian Pacific Kansas City joined Warren Buffett's BNSF Railway BNSF Railway on Tuesday in publicly rejecting participation in any near-term rail industry consolidation. The move makes it less likely that a proposed $85 billion [Read more]

CALGARY, AB, Aug. 26, 2025 /CNW/ - Westgate Energy Inc. ("Westgate" or the "Company") (TSXV: WGT), is pleased to announce the filing of its unaudited financial and operating results for the three and six months ended June 30, 2025. Selected financial and operating information should be read in conjunction with Westgate's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three and six months ended June 30, 2025 and 2024, which are [Read more]