Wildfires burning in Canada's oil-producing province of Alberta have reduced the country's daily crude production by about 7%. Here is a tally of affected oil production sites so far: CENOVUS ENERGY - CHRISTINA LAKE SITE: Oil sands producer Cenovus evacuated non-essential workers from its Christina Lake site south of Fort McMurray, Alberta on May 29 and began shutting in approximately 238,000 barrels per day of production. The company said it is not aware of any damage to its [Read more]
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Meta becomes the latest big tech company turning to nuclear power for AI needs
WASHINGTON (AP) — Meta has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company. The investment with Meta will also expand the output of a Constellation Energy Illinois nuclear plant. The agreement announced Tuesday is just the latest in a string of tech-nuclear partnerships as the use of AI expands. Financial details of the agreement were not disclosed. Constellation's Clinton Clean [Read more]
City of Medicine Hat: Property Divestiture
The City of Medicine Hat (the “City”) has engaged Sayer Energy Advisors to assist the City with the sale of certain of its oil and natural gas interests located in southern Alberta (the “Properties”). The Properties are located in the Brooks and Medicine Hat areas. In the Medicine Hat area, the City’s interests are located in the Crescent Heights, Delta and Northeast Medicine Hat areas. In the Brooks area, the City’s interests consist of non-operated working interests located in the Badger, [Read more]
High Hopes
Beyond the horizon of the place we lived when we were young In a world of magnets and miracles Our thoughts strayed constantly and without boundary The ringing of the division bell had begun - Pink Floyd, High Hopes “I love discordancy. It makes people ill at ease and wakes up a part of their brain that’s normally asleep.” - John Lydon, aka Johnny Rotten vocalist for Public Image Ltd. and ex-Sex Pistols Yes, the ‘Division Bell” rang long ago, and yes, we have discordancy. We [Read more]
Saudi Arabia expected to issue $12.6 billion in bonds until year-end, JPM says
Saudi Arabia is expected to issue $12.6 billion in bonds for the remainder of the year, JPMorgan said on Tuesday, as the kingdom resorts to the debt markets amid huge investments to overhaul its economy and lower oil prices. The Gulf country, which forecasts a budget deficit of $26.93 billion this year, is seeking funds to invest in new industries and wean its economy away from oil under its Vision 2030 plan, investing in sectors such as tourism, manufacturing and technology. Reuters [Read more]
Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., to Acquire Sitio Royalties Corp. in All-Equity Transaction; Increases Base Dividend
MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), and Sitio Royalties Corp. (NYSE:STR) (“Sitio”) today announced that they have entered into a definitive agreement under which Viper will acquire Sitio in an all-equity transaction valued at approximately $4.1 billion, including Sitio’s net debt of approximately $1.1 billion as of March 31, 2025. The consideration [Read more]
Venezuela’s oil exports stable as buyers in China receive more
Venezuela's oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA's customers and partners to export oil from sanctioned Venezuela. They gave the firms until May 27 to wind down transactions. The license [Read more]
Japan’s gas industry allows gas with carbon capture in 2050 net zero plan
The Japan Gas Association said on Tuesday it would take a more flexible approach in its drive to become carbon neutral by 2050, allowing greater use of natural gas in combination with carbon capture or other decarbonisation measures. The industry group said it was now aiming for 50-90% of gas supply by 2050 from e-methane or biogas, and 10-50% from natural gas accompanied by carbon capture or similar measures. The group, which includes city gas suppliers, had initially set a target in 2021 [Read more]
Oil rises on Iran, Russia and Canada supply concerns
Oil prices rose in early Asia trade on Tuesday on concerns about supply, with Iran set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer, and with production in Canada hit by wildfires. Brent crude futures gained 55 cents, or 0.85%, to $65.18 a barrel by 0000 GMT. U.S. West Texas Intermediate crude was up 59 cents, or 0.94%, to $63.11 a barrel, after rising around 1% earlier in the session. Both contracts gained nearly 3% in the previous [Read more]
Premiers heap praise on meeting with Carney, but no specific projects identified
SASKATOON - Ontario Premier Doug Ford said Monday's gathering of the country's premiers to talk over nation-building projects with Prime Minister Mark Carney was the "best" they have had in the last decade. The comments amount to a lightly veiled jab at former prime minister Justin Trudeau, who frequently had frosty relations with the group, especially prairie premiers looking to build out their energy sectors. Ford said the premiers, and the whole country along with them, stand united as [Read more]
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