BRUSSELS (AP) — The European Union wants to lower a cap on the price of Russian oil to deprive the Kremlin of extra profits to fund its war in Ukraine as part of a new raft of sanctions aimed at forcing Moscow to the negotiating table, senior officials said on Tuesday. EU foreign policy chief Kaja Kallas said the bloc is “proposing to lower the oil price cap from $60 to $45, which is lower than the market price, and lowering the oil price cap will hit Russia’s revenues hard.” Kallas said [Read more]
News
AI hype is off the charts, but maybe for good reason, and anyway whatever, as energy providers you’ll all be very happy
By some estimates, such as from pawn shop observations or my storage room, there must be a billion guitars out there gathering dust, almost unused, bought in some burst of enthusiasm somewhere in life, abandoned before even "Smoke On the Water" sounded half decent, when the first sore fingers showed up. Same for keyboards. Or drum sets. Along the same lines, there are likely a similar number of embryonic manuscripts sitting in computer folders across the world, when similarly people watch a [Read more]
Oil rises as US-China talks counter OPEC supply worries
Oil prices climbed on Tuesday as investors awaited the outcome of U.S.-China talks that could pave the way for easing trade tensions and improve fuel demand. Brent crude futures rose 22 cents, or 0.3%, to $67.26 a barrel by 0645 GMT. U.S. West Texas Intermediate crude was up 18 cents, or 0.3%, at $65.47. On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a U.S.-China trade deal. U.S.-China trade talks were set to continue for a second day in [Read more]
Renewable cleanup rules making Alberta less competitive for investment: report
CALGARY - A report says new cleanup rules for renewable energy sites are hurting the competitiveness of Alberta's industry. Business Renewables Centre-Canada analyzed the reclamation security requirements for renewables in 27 jurisdictions and found Alberta's are now the most costly. Under a code of practice for solar and wind projects published last week, the Alberta government says operators must provide an estimate for the cost of dismantling turbines and panels, removing underground [Read more]
International Petroleum Corporation Announces Results of Normal Course Issuer Bid
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 125,600 IPC common shares (ISIN: CA46016U1084) during the period of June 2 to 6, 2025 under IPC’s normal course issuer bid / share repurchase program (NCIB). 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 Delegated Regulation (EU) No 2016/1052 [Read more]
White Paper: How cloud access is transforming energy operations
Traditional data access methods depend on fragmented systems, outdated databases, and manual data transfers — all of which hold companies back. These limitations result in delayed decision-making, inefficiencies, and potential compliance risks. In response, GDM has launched a cloud-based, real-time data access solution that eliminates these barriers. The new initiative included providing two Canadian energy companies with early access to GDM content via Snowflake and has demonstrated the [Read more]
No rush for US energy as Asia’s imports slip under Trump: Russell
Asian countries aren't rushing to buy U.S. energy commodities, even though lifting imports of crude oil, liquefied natural gas and coal will help meet President Donald Trump's demand for lower trade surpluses. While rare earths may be the immediate talking point in the current talks between the Trump administration and China, the real action behind any deal will be in the big three energy commodities. The same is true for other Asian economies seeking to curry favour with Trump and get a [Read more]
EPA proposes giving Texas authority to oversee CO2 injection permits
The U.S. Environmental Protection Agency on Monday proposed approving Texas' application to oversee its own permitting for projects to inject carbon dioxide underground, a move long sought by that state's regulators and oil and gas companies with projects in the wings. EPA Administrator Lee Zeldin said Texas is best positioned to protect its drinking water from contamination while enabling lucrative CO2 injection projects, also known as carbon capture and storage (CCS) projects to mitigate [Read more]
Discount on Western Canada Select narrows slightly
The discount on Western Canada Select (WCS) to the North American benchmark West Texas Intermediate (WTI) futures narrowed slightly on Monday. WCS for July delivery in Hardisty, Alberta, settled at $8.80 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, after having settled at $8.85 under the U.S. benchmark on Friday. * The WCS discount is tight in part due to the wildfire situation in Western Canada, which continues to be a risk to Canadian oil supply, said Enverus [Read more]
Quebec government scraps gasoline floor price to boost competition
MONTREAL - Quebec has abolished its floor price on gasoline in a bid to bring down costs at the pump. The Quebec government announced the measure in April after the federal government scrapped the consumer carbon tax. The floor price had been in place since the 1990s to protect small service stations from being undercut by larger players. But the government says it hopes getting rid of it will boost competition and bring down prices. The minimum price was officially axed on Saturday [Read more]
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