CALGARY - Keyera Corp. has reached an agreement to double the volume of liquefied petroleum gas it plans to export through a West Coast export facility being built by AltaGas Ltd. AltaGas said in February that Keyera had contracted 12,500 barrels per day of capacity to ship the gas to Asia via the Ridley Island Energy Export Facility near Prince Rupert, B.C. The companies announced Monday that will rise to 25,000 barrels per day under 15-year tolling agreements. The facility is to be [Read more]
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Power Up: OPEC’s May output underwhelms
(Power Up is published on Mondays and Thursdays. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.) June 9 - By Liz Hampton U.S. energy markets editor Hello Power Up readers! Oil prices are steady to kick off the week ahead of U.S.-China trade talks in London on Monday. Any trade deal between the two countries could support the global economic outlook, boosting demand for commodities like oil. Brent crude futures were at [Read more]
AltaGas announces long-term global exports tolling agreement
CALGARY, AB, June 9, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) is pleased to announce an incremental long-term tolling agreement that advances the Company's commercial de-risking and continues to reduce long-term commodity exposure across the enterprise. Keyera Corp. ("Keyera") will flow an additional 12,500 Bbls/d of liquified petroleum gases ("LPGs") through AltaGas' west coast export facilities. The incremental tolling volumes will commence in 2028, post the Keyera [Read more]
Keyera Announces Sanctioning of KAPS Zone 4 and Provides Other Commercial Updates
CALGARY, AB, June 9, 2025 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera") announced today the formal sanctioning of KAPS Zone 4, a strategic extension of its integrated system. This expansion strengthens Keyera's connectivity to the growing liquids-rich Montney regions of northeast British Columbia and northwest Alberta, some of the most active and resource-rich areas in North America. "The sanctioning of KAPS Zone 4 marks another important milestone in the execution of our strategy to grow and [Read more]
Chevron CEO warned staff of rising safety issues before fatal Angola platform fire
Chevron CEO Mike Wirth told employees they needed to reinforce safety standards after a growing number of injury near-misses in an internal video message on April 29, just weeks before three workers died due to a fire on one of the company's oil platforms in Angola. "We've seen a concerning increase in serious near-misses, especially over the last few weeks," Wirth said in the video, which Reuters has viewed. "Some of these events could have resulted in fatalities." The warning came after [Read more]
California fuel imports hit 4-year high amid refinery outages
California's fuel imports rose to the highest in four years in May as refiners turned to historical trading partners in Asia and tapped some unusual routes to make up for shortages in the No.2 U.S. oil consumer state, according to shipping data and traders. The rise in shipments to California offers an early look at the future of the biggest gasoline and jet fuel markets in the U.S., which are expected to become more reliant on imports after Phillips 66 and Valero close two major refineries [Read more]
Oil prices hold gains ahead of US-China trade talks
Oil prices held on to last week's gains early on Monday as investors waited for U.S.-China trade talks to be held in London later in the day. Brent crude futures were flat at $66.47 a barrel at 0008 GMT. U.S. West Texas Intermediate crude was trading up 1 cent at $64.59. The prospect of a U.S.-China trade deal supported prices as three of Donald Trump's top aides were set to meet with counterparts in London on Monday for the first meeting of the U.S.-China economic and trade consultation [Read more]
The path to cheap power will be very expensive: Bousso
(Repeats for additional subscribers with no changes to text) *EU share of renewables in power generation rose to 47% in 2024 *EU requires $1.4 trillion in grid investment by 2040, report says *Ratio of investments in renewables and grids has dropped in recent years, IEA says By Ron Bousso LONDON, June 9 - Europe's ambition to develop cheap, clean energy has recently received a harsh reality check, as power failures and a string of cancelled renewables projects made it clear that [Read more]
Argentina set for M&A boom under Milei, with energy in focus, PwC says
Argentina's mergers and acquisitions market could grow significantly in the coming years if President Javier Milei's economic reforms continue, Juan Tripier, director of M&A and corporate finance at PricewaterhouseCoopers (PwC) Argentina, told Reuters. Investors have shown renewed interest in Argentina following Milei's measures, which include sharp reductions in inflation and public spending, a restored fiscal surplus, and relaxed foreign exchange controls. "Two, three years ago you [Read more]
Simpson Oil announces its support for the Sunoco-Parkland transaction
GRAND CAYMAN, Cayman Islands, June 6, 2025 /CNW/ - Simpson Oil Limited ("Simpson Oil"), the largest shareholder of Parkland Corporation ("Parkland"), holding 19.8% of Parkland's outstanding common shares, announced today that it is supportive of, and intends to vote all of its common shares in favor of, the proposed transaction involving Parkland and Sunoco LP ("Sunoco"). As a long-term shareholder since 2017, Simpson Oil has been an advocate for the significant opportunities available to [Read more]
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