Fatih Birol, head of the International Energy Agency, said on Monday that commercial oil inventories were depleting rapidly with only a few weeks worth left due to the Iran war and the closure of the Strait of Hormuz to shipping. Birol, who is participating in the Group of Seven finance leaders meeting in Paris, told reporters that the release of strategic oil reserves had added 2.5 million barrels of oil per day to the market, but said these reserves "are not endless". The onset of the [Read more]
News
Oil touches 2-week high after drone attack on UAE nuclear power plant
Oil prices extended gains on Monday as efforts to end the U.S.-Israeli war on Iran appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran. Brent crude futures climbed $2.03, or 1.86%, to $111.29 a barrel by 0220GMT, after touching $112 earlier, the highest since May 5. U.S. West Texas Intermediate crude was at $107.73 a barrel, up $2.31, or 2.19%, following a rise to [Read more]
Iraq exported 10 million barrels of oil through Strait of Hormuz in April
Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, down from about 93 million barrels monthly before the Iran war, the country's new oil minister, Basim Mohammed, said at a press conference on Saturday. The closure of the Strait of Hormuz due to the Iran war has curtailed oil exports from Saudi Arabia, the UAE, Kuwait and Iraq, sending prices sharply higher. Iraq's crude exports through the Kirkuk–Ceyhan oil pipeline resumed in March, after Baghdad and the Kurdistan [Read more]
UAE says OPEC, OPEC+ exit was sovereign strategic decision, not political move
The United Arab Emirates' decision to withdraw from OPEC and OPEC+ was a sovereign and strategic choice based on a comprehensive assessment of its production policy and future capabilities, the UAE energy minister,Suhail Al Mazrouei, said on Saturday in a post on X. Mazrouei added that the move was not politically motivated and did not reflect divisions with partners. The UAE announced late April that it was quitting OPEC on May 1, dealing a blow to the oil producers' group as an [Read more]
CAPP response to the advancement of the Canada-Alberta MOU and industrial carbon pricing framework
Calgary, Alberta (May 15, 2026) Statement from Lisa Baiton, CAPP President & CEO: “CAPP shares the priorities outlined by Prime Minister Carney and Premier Smith in the Canada-Alberta Memorandum of Understanding (MOU) to grow oil and natural gas production, build new export infrastructure, protect our competitiveness, and lower emissions. Canadians understand the urgency and speed with which we must move to face the twin challenges of a historic energy crisis and the rapid shifting [Read more]
Birchcliff Energy Ltd. Announces Voting Results From 2026 Annual and Special Meeting of Shareholders
CALGARY, Alberta, May 15, 2026 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“Birchcliff”) (TSX: BIR) is pleased to announce that at its Annual and Special Meeting of Shareholders held on May 14, 2026 (the “Meeting”), shareholders elected all seven of the proposed director nominees listed in Birchcliff’s information circular dated March 25, 2026 (the “Information Circular”) and approved all other matters voted upon at the Meeting. The matters voted upon at the Meeting were discussed in detail [Read more]
Peyto Exploration & Development Corp. Confirms Monthly Dividend for June 15, 2026
CALGARY, Alberta, May 15, 2026 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX: PEY) ("Peyto") confirms that the monthly dividend with respect to May 2026 of $0.12 per common share is to be paid on June 15, 2026, for shareholders of record on May 31, 2026. Dividends paid by Peyto to Canadian residents are eligible dividends for Canadian income tax purposes. Shareholders and interested investors are encouraged to visit the Peyto website at www.peyto.com to learn more [Read more]
Spartan Delta Corp. reports voting results of annual general and special meeting of shareholders
CALGARY, AB, May 15, 2026 /CNW/ - Spartan Delta Corp. ("Spartan" or the "Company") (TSX: SDE) is pleased to announce that all resolutions presented for approval at the annual general and special meeting of shareholders ("Shareholders") held on May 8, 2026 (the "Meeting"), were duly passed. A total of 131,984,406 common shares, representing approximately 65.19% of Spartan's issued and outstanding common shares, were represented at the Meeting. The following individuals, being the [Read more]
Oil Sands Alliance Statement on Canada and Alberta Agreement
CALGARY, AB, May 15, 2026 /CNW/ - Today the Alberta and Canadian governments announced their bi-lateral agreement on the implementation of a revised industrial carbon tax and other matters related to their November 27, 2025 Memorandum of Understanding (the "MOU"). Oil Sands Alliance appreciates the further clarity of that agreement and is reviewing it carefully. The announced industrial carbon tax, while lower than the current industrial carbon tax, still maintains [Read more]
Canada and Alberta strike agreement to diversify our exports, reduce emissions, and build a stronger economy
CALGARY, AB, May 15, 2026 /CNW/ - The world is changing rapidly. In response, Canada's new government is focused on what we can control: building an affordable, competitive, and sustainable Canadian economy. To that end, we must build our strength at home and diversify our export markets abroad. To advance these shared missions, in November, Canada and Alberta signed a Memorandum of Understanding (MOU) that unlocks the full potential of Alberta's energy resources, drives massive new [Read more]
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