International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 76,000 IPC common shares (ISIN: CA46016U1084) during the period of July 1 to 4, 2025 under IPC’s normal course issuer bid / share repurchase program (NCIB). TORONTO, July 07, 2025 (GLOBE NEWSWIRE) -- IPC’s NCIB, announced on December 3, 2024, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission [Read more]
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Goldman Sachs expects OPEC+ members to increase oil production by 550,000 bpd in September
Goldman Sachs said it expects a group of eight OPEC+ members to lift oil production quotas by 550,000 barrels per day in September, which would complete the unwinding of 2.2 million bpd of voluntary cuts, as they look to normalize spare capacity amid resilient global oil demand. The forecast published on Sunday came after OPEC+ agreed on Saturday to increase production by 548,000 bpd in August, further accelerating output at its first meeting since oil prices spiked and retreated following [Read more]
Carney says new oil pipeline proposal in Canada is highly likely
A new oil pipeline to the British Columbia coast is highly likely to be included on a list of projects deemed to be of national importance to the Canadian government, Prime Minister Mark Carney told the Calgary Herald newspaper in an interview published on Sunday. "I would think given the scale of the economic opportunity, the resources we have, the expertise we have, that it is highly, highly likely that we will have an oil pipeline that is a proposal for one of these projects of national [Read more]
Russia says low global oil stockpiles prompted OPEC+ to hike output
Low global oil stockpiles were a major motivating factor in prompting OPEC+ members to raise production by 548,000 barrels per day in August at the group's meeting on Saturday, the Russian government said in a statement. The group, which pumps about half of the world's oil, has been curtailing production since 2022 to support the market. But it has reversed course this year to regain market share and as U.S. President Donald Trump demanded the group pumped more to help keep gasoline prices [Read more]
Discount on Western Canada Select unchanged
The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures was unchanged on Friday. WCS for August delivery in Hardisty, Alberta, settled at $10.30 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, flat on Thursday's trade. Trading volumes were thin due to the U.S. Independence Day holiday. * Summer and the return of road construction season are a seasonally strong time of year for Canadian heavy crude, which is used by U.S. [Read more]
Norwegian company has plans for LNG export project in Quebec
MONTREAL - As Canada looks to fast-track major projects that could reduce its dependence on the United States, a new subsidiary of a Norwegian energy company says it wants to build a liquefied natural gas export facility in Quebec. Marinvest Energy Canada says there is a strong business case for an LNG project in Quebec that would supply markets in Europe. The project is in early stages, and the company has not publicly shared many details, but its representatives have been meeting with [Read more]
Ottawa announces funding for five Alberta carbon capture projects
COCHRANE - The federal natural resources minister has announced $21.5 million in funding for five Alberta projects that aim to lower the cost of capturing and storing carbon dioxide emissions. But Tim Hodgson had few details to share Friday about how talks are progressing with a group of major oilsands players on a separate $16.5-billion carbon capture, usage and sequestration project that remains in limbo. "It's something that's being worked on actively," Hodgson said of the massive [Read more]
Canada Invests in Carbon Capture and Storage in Alberta
CALGARY, AB, July 4, 2025 /CNW/ - The Government of Canada is investing in carbon capture and clean technologies and getting more low-risk, low-cost and low-carbon Canadian energy to market while fighting climate change. Today, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, announced more than $21.5 million toward cutting-edge, made-in-Canada carbon capture, utilization and storage technologies — from advancing CO2 storage sites and subsurface analysis technologies to [Read more]
OPEC+ set to make another accelerated oil output hike on Saturday, sources say
Eight OPEC+ countries are likely to make another accelerated oil output increase for August at a meeting on Saturday, sources from the producer group told Reuters, as they seek to regain market share. The group, which includes Saudi Arabia, Russia, the UAE, Kuwait, Oman, Iraq, Kazakhstan and Algeria, is expected to agree to an increase of 411,000 barrels per day for August, several sources told Reuters, speaking on condition of anonymity. If agreed, OPEC+ would have increased supply [Read more]
Saudi Aramco considers power assets sale to raise billions, sources say
Saudi oil giant Aramco is looking to sell up to five gas-fired power plants, three sources with knowledge of the matter told Reuters, part of a broader effort to free up funds that could generate tens of billions of dollars. The potential sale of four or five gas-fired plants that power refineries could alone raise around $4 billion as the Saudi government pushes Aramco to increase profits and payouts to the state, two of the sources said. Aramco, the world's most profitable company and [Read more]
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