ST. JOHN'S - Oil production is ramping up off Newfoundland and Labrador and the government is offering money to companies interested in looking for more. Premier Tony Wakeham opened an annual energy conference in St. John's, N.L., by announcing a call for exploration bids on 16 areas off the province's east coast. He says his government will offer up to $30 million to offset the cost of a well drilled in an area aimed at opening up a new offshore oil frontier. The last time a company [Read more]
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Chevron applies for Argentina tax break program with $13.8 billion investment plan
Chevron has applied to join Argentina's incentive regime for large investments for a $13.8 billion unconventional oil project in the El Trapial area of Vaca Muerta, the U.S. oil major said on Tuesday, in what would rank among the biggest new bets on the country's shale patch. The filing, which still requires government approval, is the latest sign that global energy companies are positioning for long-term growth in Vaca Muerta, one of the world's biggest shale oil and gas reserves and a [Read more]
US LNG exports fall in May on maintenance, Asia’s take rises
U.S. liquefied natural gas exports fell to 10.2 million metric tons (MT) in May, the lowest level this year excluding February’s shorter month, as seasonal maintenance curbed output, preliminary data from financial firm LSEG showed. The decline was driven by planned outages across several export plants, as operators carried out spring maintenance after delaying work earlier in the year to capture strong demand. Cheniere Energy and some U.S. exporters had postponed maintenance in March to [Read more]
Oil market could be underpricing risks, Vitol’s Bahrain chief says
The oil market is underpricing some risks from the Iran war, global commodity trading house Vitol's managing director for Bahrain, Tom Baker, said on Tuesday. Iran's effective closure of the Strait of Hormuz and attacks on energy infrastructure including oilfields and refineries, have taken about 14 million barrels of Middle East supply offline, causing the largest oil supply crisis in history. "Crude can come back online, but from a product perspective, it might be very hard for the [Read more]
South Korea seeks to boost crude oil and LNG imports from Canada
South Korea aims to boost imports of crude oil and liquefied natural gas (LNG) from Canada, South Korea's Industry Ministry said on Tuesday. South Korea is exploring ways to more than triple imports of crude oil from Canada to up to 16 million barrels this year, making Korea the third-biggest export destination for Canadian crude oil behind the United States and China, the ministry said. South Korea also aims to import 3.4 million metric tons of LNG from Canada. (Reporting by Hyunjoo [Read more]
Canada and the Republic of Korea deepen co-operation on energy resources and critical minerals
OTTAWA, ON, June 2, 2026 /CNW/ - Today, Canada's Minister of Energy and Natural Resources, Tim Hodgson, met with the Republic of Korea's Chief of Staff to the President and Special Envoy for Strategic Economic Cooperation, Kang Hoon-Sik. They highlighted significant opportunities to expand the Canada–Korea commercial relationship in energy and natural resources, with Canada positioned to be a stable, reliable and predictable partner for the Republic of Korea. Energy resources and critical [Read more]
Enercapita Energy Ltd.: Property Divestiture
Enercapita Energy Ltd. (“Enercapita” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of its oil and natural gas interests located in the Boundary Lake North area of northeastern British Columbia (the “Property”). The Company is selling the Property in order to focus its operations on its core properties. At Boundary Lake North, Enercapita holds a primarily 100% working interest in approximately 13.25 sections of land on which there are horizontal oil [Read more]
Enbridge, Trans Mountain and Wolf will be talking Oil Egress on Thursday. Spots limited. Reserve yours here.
REGISTER HERECanadian Oil Market Access Is at a Critical Inflection Point — Are You Ready? CHOA Leads: Canadian Oil & Gas Egress & Market Access - June 4 - Calgary Petroleum Club The decisions shaping Canada’s barrels are being made right now. Join the conversation with the people driving those changes. Since Canada and Alberta signed the MOU last November declaring an Indigenous co-owned pipeline to Asian markets a project of national interest, the conversation around Canadian [Read more]
GLJ and Petrel Robertson Consulting Ltd. Combine Expertise to Support Continued Growth
June 2, 2026 (L-R): Alan Withey, Jodi Anhorn, Tracy Bellingham, Kathleen Dorey, Michael Livingstone, Brad Hayes CALGARY, AB – GLJ Ltd. (“GLJ”), global energy consultants, today announced the completion of its acquisition of Petrel Robertson Consulting Ltd. (“PRCL”), a respected Canadian geoscience and engineering consulting firm. As a result of the acquisition, GLJ will strengthen its position as a leading provider of geoscience, engineering, and energy consulting services by [Read more]
IEA sees possibility of critically low stockpiles ahead of peak summer demand
Global oil inventories could hit critical levels ahead of the peak summer demand period if stock draws continue at their current pace, the head of the International Energy Agency's oil industry and markets division said on Tuesday. "We're seeing stock draws continuing into the summer, and with the possibility or the likelihood that we reach critical levels or historical low levels just ahead of the peak summer demand," said Toril Bosoni. It could take six to eight months in the best-case [Read more]
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