Chevron will lay off nearly 800 employees in Texas, according to a notice on Wednesday to the Texas Workforce Commission, part of the U.S. oil producer's plan to cut up to 20% of its global workforce by the end of 2026. The job cuts will be in Midland County, where Chevron has large operations in the Permian Basin, the top U.S. oilfield. The layoff date is July 15, according to the notices. Chevron announced plans to slash the global workforce in February in order to cut costs and simplify [Read more]
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Coelacanth Announces Q1 2025 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - May 29, 2025) - COELACANTH ENERGY INC. (TSXV: CEI) ("Coelacanth" or the "Company") is pleased to announce its financial and operating results for the three months ended March 30, 2025. All dollar figures are Canadian dollars unless otherwise noted. FINANCIAL RESULTS Three Months Ended March 31 ($000s, except per share amounts) 2025 2024 % Change Oil and natural gas [Read more]
Manitoba urges thousands to evacuate as Canada wildfires spread
Manitoba declared a state of emergency and urged thousands of people in northern and eastern parts of the province to evacuate on Wednesday, as wildfires spread in Central and Western Canada. Manitoba Premier Wab Kinew said at a news conference that 17,000 people needed to move quickly, including from the city of Flin Flon. Many will be put up at soccer fields and community centers in Winnipeg and other cities, and federal armed forces were arriving to help transport evacuees, he [Read more]
OPEC must squeeze US shale much more to win oil price war: Bousso
(The opinions expressed here are those of the author, a columnist for Reuters.) *US drillers slow down operations following oil price drop *US oil output growth set to slow in 2025 *OPEC will need to deepen price war to significantly impact US output By Ron Bousso LONDON, May 29 - Oil drillers in the U.S. shale heartland are slowing down operations, a sign that OPEC's high-stakes price war is starting to pay off, but Saudi Arabia will need to exert a lot more pain to make a [Read more]
Russian rouble soars past 78 vs dollar to reach two-year high
The Russian rouble strengthened sharply on Thursday, soaring past the 78 mark against the dollar to reach a two-year high, after Moscow proposed a fresh round of peace talks with Kyiv. The rouble has firmed by more than 40% against the dollar this year, a rise analysts have attributed to the easing of geopolitical tensions - mainly with U.S. President Donald Trump's administration - and the central bank's tight monetary policy, which has reduced demand for foreign currency. By 0843 GMT, [Read more]
Kyushu Electric to sign 20-year deal to buy LNG from US firm Energy Transfer
Japan's Kyushu Electric Power said on Thursday it will sign a 20-year purchase contract with U.S. energy firm Energy Transfer to buy up to 1 million metric tons of liquefied natural gas a year from its Lake Charles LNG project. It marks the Japanese utility's first long-term LNG purchase deal from the United States and is expected to diversify the company's procurement sources and contribute to stable supply, the company said in a statement. A company spokesperson declined to disclose the [Read more]
Record US clean power run rolls on through May: Maguire
The U.S. power system is on track to produce more electricity from clean power sources than from fossil fuels for the third straight month in May, establishing a record-long stretch for clean power generation in the country. Clean power sources provided the majority of U.S. electricity supplies for the first time in March of this year, according to data from think tank Ember, and extended that run in April thanks to record renewable energy output. The lowest natural gas-fired generation [Read more]
Markets hope Trump tariffs stay ‘unlawful’
A look at the day ahead in European and global markets from Wayne Cole Who knew the three judges at the rather obscure United States Court of International Trade had the power to spark a rally in global stock markets and shove the dollar higher against its safe-haven peers? Early in the Asian trading day, news broke the court had declared President Donald Trump's April 2 tariffs to be "invalid as contrary to law", sending risk assets surging. And this wasn't a narrow judgment. All three [Read more]
Oil prices climb as US court blocks Trump tariffs
Oil prices rose on Thursday after a U.S. court blocked most of President Donald Trump's tariffs from taking effect, while the market was watching out for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July. Brent crude futures climbed 78 cents, or 1.2%, to $65.68 a barrel. U.S. West Texas Intermediate crude advanced by 78 cents, or 1.3%, to $62.62 a barrel at 0405 GMT. A U.S. trade court on Wednesday ruled that Trump overstepped his [Read more]
South Korea to send officials to Alaska energy conference, ministry says
South Korea will send its Deputy Minister for Energy Policy and other energy ministry officials to the Alaska Sustainable Energy Conference in early June, the ministry said on Thursday, as some Asian countries consider investing in a $44 billion LNG project. Deputy Minister Lee Hohyeon will visit Alaska and participate in a roundtable hosted by the U.S. Department of Energy, the ministry said. "We plan to check the progress of the Alaska project using this conference as an opportunity," [Read more]
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