The dollar and U.S. Treasuries slid in Asian trading on Tuesday after President Donald Trump announced he was removing a Federal Reserve governor, which undermined confidence in U.S. assets. The dollar fell against the yen and euro after Trump said on social media he was removing Lisa Cook from her position on the Fed's board of directors, the latest in a series of attacks on the central bank's independence. Asian shares followed declines on Wall Street as prospects for a Fed rate cut next [Read more]
News
Lycos Energy Inc. Announces Second Quarter Financial Results and Operations Update
Calgary, Alberta--(Newsfile Corp. - August 25, 2025) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce its operating and financial results for the three and six months ended June 30, 2025. Selected financial and operating information is outlined below and should be read with Lycos' unaudited condensed interim consolidated financial statements and related management's discussion and analysis ("MD&A") for the three and six months ended June 30, [Read more]
Canada’s Alberta eyes investment in Japan’s refining to boost oil exports, sources say
Canada's main oil-producing province of Alberta is considering a financial investment in Japan's refining sector, two sources familiar with the matter said, an attempt to reduce its overwhelming dependence on top trade partner the United States for oil exports. Alberta's government is in early-stage talks with several Japanese crude oil refiners to explore a joint venture in which it could help fund the construction of a coker unit that would enable one or more Japanese companies to process [Read more]
EPIC Crude pipeline owners explore $3 billion sale, sources say
The owners of the EPIC Crude pipeline are exploring a sale, with any deal likely to value the energy infrastructure at around $3 billion including debt, people familiar with the matter said. EPIC Crude is one of the major pipelines which brings oil from the Permian and Eagle Ford shale basins of Texas to export facilities on the U.S. Gulf coast. It entered full service in 2020 and has a capacity of more than 600,000 barrels per day. EPIC Midstream, controlled by investment firm Ares [Read more]
BP’s refinery in Whiting, Indiana, expected to be fully operational in next 24-48 hours, IIR says
BP's 440,000-bpd refinery in Whiting, Indiana, is expected to be fully operational in the next 24 to 48 hours, industry monitor IIR said on Monday. The refinery experienced operational upsets last week due to flooding caused by a severe thunderstorm that swept through the state. BP declined to comment on the refinery's restart timeline. The Whiting refinery, the largest in the U.S. Midwest, produces a wide range of liquid fuels, including gasoline, diesel and jet fuel. (Reporting by Nicole [Read more]
Tokyo Gas in talks to buy 1 mtpa of LNG from Venture Global, sources say
Tokyo Gas is in discussions with Venture Global to purchase 1 million metric tonnes per annum of liquefied natural gas from the company's CP2 export facility, three people with knowledge of the talks told Reuters on Monday. Venture Global is the second largest U.S. LNG exporter and since 2023 has been the main source of the country's growing LNG export capacity, helping the U.S. remain the world's largest exporter of the superchilled gas. Tokyo Gas is negotiating the purchase of LNG from [Read more]
US natural gas slides to 10-month low as summer demand fades
U.S. natural gas futures fell to a ten-month low on Monday, pressured by cooler weather forecasts and fading summer demand, easing concerns over tight storage levels ahead of winter. Front-month gas futures for September delivery on the New York Mercantile Exchange were flat at $2.70 per million British thermal units at 10:09 a.m. EDT (1410 GMT). The contract hit its lowest since November 4, 2024. "With summer waning, it is becoming clear that the expectation of strong power sector demand [Read more]
Russian oil refineries, terminals burn as Ukraine hits Putin’s war economy
Ukraine has stepped up drone attacks on Russian oil refineries and exporting infrastructure, striking the most important sector of President Vladimir Putin's economy to show it can fight back as the United States seeks to broker a peace deal. The attacks disrupted Moscow's oil processing and exports, created gasoline shortages in some parts of Russia and came in response to Moscow's advances on the front lines and its pounding of Ukraine’s gas and power facilities. Kyiv's move is an [Read more]
Brokerages cheer Cenovus’ C$7.9 billion deal for MEG Energy
** Brokerages welcome Cenovus Energy's C$7.9 billion ($5.72 billion) cash-and-stock deal to acquire peer MEG Energy ** Gerdes Energy Research raises PT on CVE by C$2 to C$32, a premium of 51.2% to stock's closing price on Friday ** The deal will give "an approximate 6% improvement in oil sands capital intensity," Gerdes said ** Brokerage Desjardins raises PT to C$29 from $C27.5, a ~37% upside to last close ** "While the transaction would be modestly dilutive, reflecting CVE’s [Read more]
Crescent Energy to acquire Vital Energy in $3.1 billion shale deal
U.S. shale producer Crescent Energy said on Monday it would acquire smaller peer Vital Energy in an all-stock deal valued at $3.1 billion, including debt. Vital shareholders will receive 1.9062 shares of Crescent common stock for each share held, representing a value of $18.95 per share and a premium of 20%, based on the stocks' last close. Shares of Vital rose 11%, while those of Crescent fell nearly 3% before the bell. Last week, Reuters reported that Crescent was in advanced talks to [Read more]
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