From the outset, projects must unite leadership from proponents, governments and affected First Nations By Deborah Jaremko and Will Gibson on August 18, 2025, 10:49 am MDT The head of the National Coalition of Chiefs (NCC) is calling for the repeal of the oil tanker ban on B.C.’s north coast as Canada seeks “nation-building” projects to strengthen economic independence. With short shipping times to hungry Asian markets, ports like Prince Rupert or Kitimat offer a strong [Read more]
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Oil sheen observed in Indiana’s Lake Michigan, BP says
BP reported on Tuesday an oil sheen was observed after severe thunderstorms in northwest Indiana, in an area of Lake Michigan adjacent to one of the Whiting refinery's process sewer lines. A containment boom had been deployed as a precautionary measure before the sheen was observed, and the sheen remains within the containment area, the company said. (Reporting by Sarah Qureshi in Bengaluru; Editing by Chris Reese) [Read more]
US oil and gas M&A activity tripled last year, report says
Mergers and acquisitions in the U.S. oil and gas sector tripled last year despite softer commodity prices as energy companies boosted spending to improve efficiency and profits, according to a report released on Tuesday. WHY IT’S IMPORTANT The jump in dealmaking marks a shift in strategy after years of focusing on shareholder returns over growth as commodity prices retreated from their 2022 high. CONTEXT The sector-wide consolidation has been led by a handful of megadeals by large [Read more]
BP’s 440,000-bpd refinery in Whiting, Indiana, reports flaring due to severe thunderstorms, company says
BP's 440,000-barrel-per-day refinery in Whiting, Indiana, on Tuesday reported flaring due to flooding caused by a severe thunderstorm overnight, the company said. "The Whiting Refinery’s operations were impacted by the significant thunderstorms overnight in Northwest Indiana that led to flooding and severe conditions in the surrounding neighborhoods," the company said on Tuesday in a social media post. "Materials are being burned in the flares to maintain safe operations." Response and [Read more]
US natgas prices drop 4% to nine-month low on record output, cooler weather
U.S. natural gas futures fell about 4% to a nine-month low on Tuesday on near-record output, ample fuel in stockpiles and forecasts for less hot weather and lower demand through early September than previously expected. Another factor weighing on gas prices was a decline in the amount of gas flowing to liquefied natural gas export plants due to small reductions at several facilities. Front-month gas futures for September delivery on the New York Mercantile Exchange fell 10.8 cents, or [Read more]
Consolidation reshapes the U.S. oil and gas industry: EY study finds the sector shrinking from top 50 to top 40 players
Year-over-year mergers and acquisitions (M&A) activity surged 331%, totaling $206.6 billion Focus shifts to future drilling potential through strategic acquisitions Capital returned to shareholders declined NEW YORK, Aug. 19, 2025 /PRNewswire/ -- The U.S. oil and gas industry is experiencing a seismic transformation, driven by a wave of mergers and acquisitions that has narrowed the field of top publicly traded exploration and production companies from 50 to just 40. This shift is [Read more]
Inflation rate cools to 1.7% in July thanks to lower gas prices: StatCan
OTTAWA - Inflation cooled in July thanks largely to relief at the gas pumps, but Statistics Canada said grocery and shelter costs were accelerating last month. The annual rate of inflation fell to 1.7 per cent in July, the agency said Tuesday, down from 1.9 per cent in June. A 16.1 per cent decline year-over-year in gas prices tied mainly to the removal of the consumer carbon price earlier this year fueled the drop. Gas prices were also down 0.7 per cent on a monthly basis. StatCan [Read more]
Freeport LNG in Texas recovers from brief reduction, gas intake rises, LSEG data shows
(Adds no comment from Freeport LNG in paragraph 7) Aug 19 - U.S. company Freeport LNG's export plant in Texas was on track to take in more natural gas on Tuesday, a sign that one of its liquefaction trains was resuming operations after an outage that started on Sunday, according to a company filing with state regulators and data from financial company LSEG. Freeport is one of the world's most closely watched LNG export plants because starts and stops of its operations often cause price [Read more]
Chinese refiners sweep up Russian oil after Indian demand falls, analysts say
Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow's exports falls away, two analysts and one trader said on Tuesday. India has emerged as the leading buyer of Russian seaborne oil, which has sold at a discount since some Western nations shunned purchases and imposed restrictions on Russian exports over Moscow's 2022 invasion of Ukraine. Indian state refiners paused Russian oil purchases last month, however, as those [Read more]
War or peace? For oil markets, the Ukraine outcome is insignificant: Bousso
U.S. President Donald Trump’s high-stakes diplomacy to resolve the war in Ukraine is unlikely to jolt oil and gas markets, no matter the outcome. Russia has faced multiple rounds of western sanctions and restrictions since its invasion of Ukraine in February 2022, which have dealt severe blows to the country’s giant oil and gas industry, sapping Moscow of vital revenue and reshaping global energy markets. Russian gas now accounts for just 18% of European imports, down from 45% in 2021, while the [Read more]
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