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India accuses EU, US of double standard over Russian trade

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India has sharply criticised the United States and the European Union, saying it is being unfairly singled out by them over its Russian oil purchases when they both trade extensively with Moscow despite the war in Ukraine. India's criticism followed a renewed threat by U.S. President Donald Trump on Monday to raise tariffs on goods from India over its Russian oil purchases, deepening the trade rift between the two countries. In a rare show of unity, Prime Minister Narendra Modi's Bharatiya [Read more]

Delek Group announces share purchase

TEL AVIV, Israel, Aug. 5, 2025 /CNW/ - Delek Group Ltd. (TASE: DLEKG) (the "Company") is pleased to announce that it has entered into a share purchase agreement (the "Share Purchase Agreement") with Obsidian Energy Ltd. ("Obsidian Energy") dated August 4, 2025, pursuant to which it has agreed to purchase an aggregate of 9,139,784 common shares (the "Common Shares") in the capital of InPlay Oil Corp. ("InPlay"), from Obsidian Energy (the "Share Purchase"), at a price of $10.00 per Common Share [Read more]

BP vows to do better for investors as profit tops forecast

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BP will review its portfolio of assets and consider more cost cuts as part of a drive to do better for shareholders, the oil major said on Tuesday, as it reported a second-quarter profit that easily beat expectations. Under pressure to improve profitability, not least from activist investor Elliott, CEO Murray Auchincloss earlier this year announced plans to sell $20 billion of assets through to 2027, as well as to cut spending, debt and costs. On Tuesday, he signalled further action might [Read more]

International Petroleum Corporation Announces Second Quarter 2025 Financial and Operational Results and Releases Sustainability Report

TORONTO, Aug. 05, 2025 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operational results and related management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2025. IPC also released its sixth annual Sustainability Report detailing IPC’s sustainability approach and initiatives. William Lundin, IPC's President and Chief Executive Officer, comments: “IPC continued [Read more]

India standoff is about more than Russian oil

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(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Una Galani HONG KONG, Aug 5 (Reuters Breakingviews) - The standoff between the U.S. and India may well get worse before it gets better. Having slapped a 25% tariff on goods the South Asian country sends to America, Donald Trump is vowing to ratchet up the rate over the $4 trillion economy's purchases of Russian oil. New Delhi calls the threat unjustified and unreasonable. A deal with Washington is [Read more]

Oil drifts lower on rising supply, concerns about demand

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Oil prices drifted lower on Tuesday on oversupply concerns as OPEC+ moved ahead with another large output hike despite a weak demand outlook, more than offsetting the potential for tighter Russian oil trade due to U.S. policies. Brent crude futures dipped 11 cents, or 0.16%, to $68.65 a barrel by 0424 GMT. U.S. West Texas Intermediate crude was down 12 cents, or 0.18%, to $66.17 a barrel. It was the fourth consecutive decline for both contracts, which fell by more than 1% in the previous [Read more]

Libya’s NOC signs memorandum of understanding with ExxonMobil after decade of inactivity

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Libya's National Oil Corporation said on Monday it signed a memorandum of understanding with U.S. oil giant ExxonMobil after a decade of activity halt in the North African country due to security reasons. NOC in a statement said the MoU focuses on conducting detailed geological and geophysical studies to identify the hydrocarbon resources in four offshore blocks located off the northwest coast and the country's Sirte Basin. In 2013, ExxonMobil, the world's largest publicly-traded energy [Read more]

Letter to Stockholders Issued by Diamondback Energy, Inc

MIDLAND, Texas, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter. Before we begin, we are deeply saddened by the tragic Texas flooding last [Read more]

Diamondback Energy, Inc. Announces Second Quarter 2025 Financial and Operating Results

MIDLAND, Texas, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the second quarter ended June 30, 2025. SECOND QUARTER 2025 AND RECENT HIGHLIGHTS Average oil production of 495.7 MBO/d (919.9 MBOE/d) Net cash provided by operating activities of $1.7 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $2.1 billion Cash capital [Read more]

InPlay Oil Corp. Welcomes Delek Group

CALGARY, AB, Aug. 3, 2025 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") announces that Obsidian Energy Ltd. ("Obsidian") has entered into a definitive agreement with Delek Group Ltd. ("Delek") in respect of the sale of all 9,139,784 common shares ("Common Shares") in the capital of InPlay currently held by Obsidian (the "Transaction"). "We are thrilled to welcome the Delek Group to our organization as part of their impressive oil and gas [Read more]