The discount on Western Canada Select (WCS) to the North American benchmark West Texas Intermediate (WTI) futures widened slightly on Wednesday. WCS for July delivery in Hardisty, Alberta, settled at $8.90 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $8.80 a barrel to Tuesday's trade. * WCS discounts have been tight in recent days, partly due to the wildfire situation in Western Canada. * Last week, wildfires burning in Canada's oil-producing [Read more]
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World Bank to end ban on nuclear energy projects, still debating upstream gas
The World Bank's board has agreed to end a longstanding ban on funding nuclear energy projects in developing countries as part of a broader push to meet rising electricity needs, the bank's president Ajay Banga said on Wednesday. Banga outlined the bank's revised energy strategy in an email to staff after what he called a constructive discussion with the board on Tuesday. He said the board was not yet in agreement on whether the bank should engage in upstream natural gas projects, and if so, [Read more]
Japan’s JERA agrees to buy US LNG to rebalance supply portfolio
JERA, Japan's biggest power generator, has agreed to new supply deals for U.S. liquefied natural gas (LNG) from four projects to diversify its global portfolio away from its reliance on Australia, it said on Thursday. JERA plans to buy up to 5.5 million metric tons per annum (mtpa) of U.S. LNG under 20-year contracts, with deliveries starting around 2030. That total includes some previously reported deals as well as newly announced agreements. The move illustrates Japan's efforts to seek [Read more]
Saturn Oil & Gas Inc. Announces Launch of Inaugural Substantial Issuer Bid
Calgary, Alberta--(Newsfile Corp. - June 11, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce the launch, as of the date hereof, of our previously announced substantial issuer bid (the "Offer") pursuant to which the Company offers to purchase from holders ("Shareholders") of common shares of the Company (the [Read more]
Alberta premier says province is looking to entice private-sector pipeline builder
CALGARY - Alberta Premier Danielle Smith says her government is working to entice a private-sector player to build a crude pipeline to coastal waters. She urged attendees at the Global Energy Show to keep up the pressure on Ottawa to help speed along such a nation-building project. Smith has been enthusiastic about reviving a plan to ship oilsands crude to Prince Rupert on the northern B.C. coast for export to Asia. But she says that's never going to happen as long as there's a tanker [Read more]
Trigon Pacific Terminals announces new LPG export facility in Prince Rupert, Canada
Trigon Pacific Terminals announced on Wednesday a new $750 million open-access liquefied petroleum gas export facility with a capacity of 2.5 million metric tons per year at Prince Rupert, Canada. The export facility is expected to begin operations by late 2029, subject to securing legal and regulatory approvals. Critical infrastructure for the facility is already in advanced stages of readiness, with rail access to the site and berth loading facilities ready for integration, the company [Read more]
US embassy in Iraq preparing for ordered evacuation due to ‘heightened security risks’, sources say
The U.S. embassy in Iraq is preparing for an ordered evacuation due to heightened security risks in the region, an Iraqi security official and a U.S. source said on Wednesday. Iran's Minister of Defense Aziz Nasirzadeh said earlier in the day that Tehran will strike U.S. bases in the region if nuclear talks and conflict arise with Washington. (Reporting by Ahmed Rasheed, Timour Azhari and Daphne Psaledakis; Editing by Sharon Singleton) [Read more]
Alberta Premier says province working on proposal for new crude oil pipeline to Port of Prince Rupert
Alberta Premier Danielle Smith said on Wednesday the province is working to present Canadian Prime Minister Mark Carney with a proponent and route for a potential new crude pipeline from Alberta to the Port of Prince Rupert in British Columbia. Smith told reporters at an energy conference in Calgary that her government is in talks with Canada's major pipeline companies in the hope that a private sector proponent will take the lead on Alberta's vision of a new, 1-million-barrel-per-day crude [Read more]
Maritime agency warns shipping industry over rising Middle East tensions
Increased tensions in the Middle East may lead to an escalation in military activity that could impact shipping in critical waterways, Britain's maritime agency said on Wednesday. Much of the world's oil and key commodities including grains pass through the region's busy sealanes. The United States and Iran are expected to hold talks this week on Iran's nuclear programme. Washington has threatened to take military action if the talks fail, and Iran said on Wednesday it could strike U.S. [Read more]
MEG Energy Begins Ramp-Up to Full Operations at Christina Lake Regional Project Following Wildfire Response
CALGARY, AB, June 11, 2025 /CNW/ - MEG Energy Corp. ("MEG" or the "Corporation") (TSX: MEG) is providing an update on operations at its Christina Lake Regional Project (CLRP) following recent regional wildfires south of the facility. MEG has safely returned all personnel to site and restored its connection to Alberta's electric grid. In addition, MEG has commenced restarting Phase 2B operations after successful completion of the turnaround. "We are deeply grateful for the [Read more]
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