A look at the day ahead in European and global markets from Stella Qiu: It is tariff deadline day and President Donald Trump delivered by slapping fresh levies on imports from dozens of countries, including those that do not have a trade deal yet. Rates were set at 35% for Canada, 25% for India, 20% for Taiwan and 19% for Thailand. Switzerland got a whopping 39% -- one of the steepest -- raising the question: what's Trump got against the Swiss? Not buying enough American chocolate or [Read more]
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Asia steps up US WTI oil imports as Middle East prices rise, sources say
Asia is expected to step up imports of U.S. West Texas Intermediate crude in the fourth quarter after Middle East oil prices strengthened and opened the arbitrage window, trade sources said. Middle East crude benchmarks Dubai and Murban gained this month on the back of robust demand for high-sulphur oil in Asia, narrowing their price gaps with light-sweet U.S. WTI oil, they said. WTI's arbitrage has been wide open to Asia for the past week for cargoes arriving in early November, said June [Read more]
Phillips 66 hit with $800 million penalty in biofuel trade secrets case
U.S. refiner Phillips 66 was ordered to pay biofuel maker Propel Fuels $800 million in damages for stealing trade secrets to build up its renewable-fuel capabilities, according to a California state court document. A state court in Alameda, California, on Wednesday ordered Phillips 66 to pay $195 million in punitive damages, in addition to $604.9 million in compensation the refiner was ordered to pay following a separate verdict. "In summary, the court finds that Phillips 66's misconduct [Read more]
Baytex Delivers Solid Second Quarter 2025 Results with Record Pembina Duvernay Well Performance and Continued Debt Reduction
Calgary, Alberta--(Newsfile Corp. - July 31, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") reports its operating and financial results for the three and six months ended June 30, 2025 (all amounts are in Canadian dollars unless otherwise noted). "Baytex delivered solid operational and financial results in the second quarter, with top-performing wells in the Pembina Duvernay, setting the highest average 30-day peak oil rates in the West Shale Basin," said Eric [Read more]
MEG Energy Reports Second Quarter 2025 Results Including Successful Completion of Major Turnaround and Wildfire Response; Announces 10% Increase to Quarterly Dividend to $0.11 per share
CALGARY, AB, July 31, 2025 /CNW/ - MEG Energy Corp. (TSX: MEG) ("MEG" or the "Corporation") reported its second quarter 2025 operational and financial results.1 "We safely and successfully completed the largest planned turnaround in MEG's history in the second quarter, while prioritizing the safety of our workforce and communities during challenging wildfire conditions," said Darlene Gates, President and Chief Executive Officer of MEG. "We made meaningful progress advancing the [Read more]
ARC Resources Ltd. reports second quarter 2025 results, provides 2025 revised guidance, and announces new Attachie land acquisition
CALGARY, AB, July 31, 2025 /CNW/ - (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Company") today reported its second quarter 2025 financial and operational results and provided 2025 revised guidance. HIGHLIGHTS Second Quarter Results ARC delivered second quarter 2025 average production of 357,228 boe(1) per day (61 per cent natural gas and 39 per cent crude oil and liquids(2)). Production increased eight per cent year-over-year, and 11 per cent on a per share basis(3). Attachie [Read more]
Baytex Announces Quarterly Dividend for October 2025
Calgary, Alberta--(Newsfile Corp. - July 31, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") announces that its Board of Directors has declared a quarterly cash dividend of CDN$0.0225 per share to be paid on October 1, 2025 for shareholders of record on September 15, 2025. The U.S. dollar equivalent amount is approximately US$0.0163 per share assuming a foreign exchange rate of 1.38 CAD/US. Payments to shareholders who are not residents of Canada will be net of [Read more]
Enhance’s Origins CCS Hub receives regulatory approval
CALGARY, AB, July 31, 2025 /CNW/ - Enhance Energy, operator of Alberta's largest carbon capture and storage (CCS) initiative and founding partner of the Alberta Carbon Trunk Line (ACTL) Project, has received regulatory approval (Directive 065) from the Alberta Energy Regulator for its Origins saline aquifer CCS project in central Alberta. The project will enable commercial-scale emissions management for industrial emitters through permanent sequestration of captured [Read more]
Canada’s economy contracts in May even as some sectors rebound from tariffs
OTTAWA - Canada's economy contracted for a second straight month in May even as some sectors held up in the face of U.S. tariffs. Real gross domestic product fell 0.1 per cent in May, Statistics Canada said Thursday, matching the decline in April. The agency said goods-producing sectors were to blame for the drop, particularly in mining, quarrying and oil and gas extraction. RBC pointed to wildfires in the Prairies temporarily dragging down oil and gas activity. Marc Ercolao, an [Read more]
FERC staff recommend final environmental approval for Rio Grande LNG project
Staff at the Federal Energy Regulatory Commission have recommended Next Decade's Rio Grande LNG project in Brownsville, Texas, receive its final environmental approval, a document showed. The recommendation is a major step forward for the company as it pursues the 18 million metric tons per annum export facility. The project had faced uncertainty after a Washington, D.C. Circuit court last year quashed FERC's prior approval for the plant, saying it failed to issue a supplemental Environmental [Read more]
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