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A contract that SLB and Venezuela's state-run PDVSA signed last week has granted the U.S. oil services and technology company access to oilfield data from the country with the world's largest crude reserves, three sources close to the negotiations said. The deal will allow SLB to organize and upgrade PDVSA's vast but outdated databases following years of neglect and a recent cyberattack, according to the sources. Venezuela has not published routine oil statistics in more than a decade and the [Read more]

Oman and Iran have agreed on a proposed framework to resume safe navigation through the Strait of Hormuz that includes establishing a joint temporary shipping lane and a project to demine the waterway, they said in a joint statement on Tuesday. Oman's foreign minister arrived in Iran earlier on Tuesday for talks with his Iranian counterpart on future arrangements for the strait. (Reporting by Yomna Ehab and Muhammad Al Gebaly Editing by Gareth Jones) [Read more]

The resurgent trade spat between U.S. President Donald Trump and Canadian Prime Minister Mark Carney comes at a delicate juncture for both North American countries - and the global economy. Missteps between the neighboring G7 nations could have wide-ranging economic impacts. The Trump administration imposed 50% tariffs on an array of ‌Canadian goods on Saturday after bilateral talks collapsed on Friday. These levies might appear modest on the surface, applying to only 5.5% of Canada's exports to [Read more]

Stacked Plays: Banff, Detrital, Crinoidal Banff and Basal Quartz Single and Multi-lateral Development Potential Near Drumheller/Delia, Alberta    Paragon Energy Ltd. is a private start-up with an experienced team and a prospective, contiguous 6-Section of oil & gas rights in the oil-bearing Banff/Detrital/BQ intervals in Alberta. Paragon operates and has recently started producing 33 API Sweet Light Oil from a re-entry/recompletion for the well 14-34-31-18W4/2 from commingled [Read more]

U.S. Treasury Secretary Scott Bessent invoked the famous D-Day landing of Allied troops in France in 1944 when announcing new sanctions against Iran. But the measures are better compared to another World War Two amphibious landing, the considerably less successful Anzio beachhead in Italy. The Anzio battle was marked by the initial success of Allied landings, but a lack of decisive leadership saw the campaign stall and turn into a months-long campaign of attrition that largely failed to [Read more]

For decades, the standard way to check methane emissions at a wellhead in Western Canada has been the same: a technician on-site with a bubble kit or a handheld gas detector, flagging whether gas is escaping. Simple, cheap, and as regulators, investors, and carbon-market participants have increasingly pointed out, nowhere near good enough for what the industry needs to prove today. The gap is accuracy and quantification. Bubble tests can tell you methane is present. They can't tell you how [Read more]

China's cooperation with Iran is conducted within the framework of international law and should not be interfered with or disrupted, a foreign ministry spokesperson said on Tuesday when asked about new U.S. sanctions related to Iran. China is closely monitoring the developments and will take all necessary measures to firmly safeguard its own rights and interests, ministry spokesperson Lin Jian said at a press conference. The U.S. on Monday announced new sanctions on 60 individuals, [Read more]

Just two commodity vessels transited the key energy chokepoint of the Strait of Hormuz on Monday, for the lowest daily tally since early May, with both entering the Gulf, shipping data showed. The figure was also well below the 10-day average of 14, with just one very large gas carrier and one very large crude carrier entering the strait from the Gulf of Oman, according to shiptracker Kpler early on Tuesday. Although down from Sunday's tally of seven vessels of all types, the figures could [Read more]

Almost half the world's oil comes from countries affected by conflict in 2026, Reuters calculations show, underscoring that current disruptions have eclipsed previous energy crises. Six months ago, U.S. and Israeli attacks on Iran triggered what has become the largest oil supply crisis on record, with no clear end in sight. At the same time, the Russia-Ukraine war has forced production and refining cuts, including in nearby Kazakhstan this year. Ongoing conflict in Libya and U.S. [Read more]