News

Plunger lift optimization isn't just about cycle times and arrival windows. At its core, it comes down to one fundamental decision: are you running the right plunger for your well? It sounds simple, but in practice, it's one of the most commonly overlooked sources of production loss and unnecessary cost in plunger lift operations. The wrong plunger affects everything downstream — off-time requirements, fluid fallback, cycle reliability, and ultimately how many MCF or barrels you're leaving [Read more]

UBS on Thursday cut its Brent crude forecasts to $85 a barrel for end-September and end-December, from $105 and $95 respectively, and said a recovery in oil production from the Iran war was likely to be slower than the market expects. An interim deal last week to end the U.S.-Israeli war on Iran, which began on February 28, has allowed traffic through the vital Strait of Hormuz shipping route to resume. * U.S. Energy Secretary Chris Wright told a forum that flows through the strait were [Read more]

Some 57 ships carrying an estimated 1,100 seafarers have transited the Strait of Hormuz since June 23 under a United Nations evacuation plan launched this week, data from the U.N.'s shipping agency showed on Thursday. These are the first numbers to be released by the U.N.'s International Maritime Organization for the initiative, which will enable hundreds of ships with some 11,000 seafarers to leave the strait. According to current IMO data, 12 ships sailed through during the morning of [Read more]

Revived tanker movement through the Strait of Hormuz pushed U.S. crude prices below $70 a barrel briefly on Wednesday even though inventories at the country's crude storage hub in Cushing, Oklahoma have dropped to their lowest in 12 years. Stocks of oil at Cushing fell to about 19 million barrels last week, the lowest level since 2014, the U.S. Energy Information Administration reported on Wednesday. Still, the price of West Texas Intermediate, or WTI, the benchmark used to price domestic crude, [Read more]

OTTAWA - Ottawa has begun taking public comments on a proposed liquefied petroleum gas facility on British Columbia's north coast. The Impact Assessment Agency says in a statement that comments on the proposal by Trigon Pacific Terminals at the Port of Prince Rupert must be submitted by July 24. The agency is also taking applications from different parties to participate in the planning phase of the project's assessment. Trigon is proposing a liquefied petroleum gas storage facility [Read more]

Prices of Brent crude oil for second-month delivery traded higher on Wednesday than prices for prompt delivery for the first time since the Iran war started in late February, signaling increased near-term supply. Brent, the global benchmark, traded 12 cents higher for contracts delivering in September versus those with August delivery, implying the market is pricing in ample prompt supply but fewer barrels in the coming months. "We have the prospect of a big rush in physical supply out of the [Read more]

CALGARY - A new analysis from S&P Global Energy says the greenhouse gas intensity of the oilsands has declined for the 13th straight year, with a two per cent drop in 2025. The research firm says the average emissions per barrel of marketable product has fallen by 31 per cent since 2009, with every year but one in that time — 2012 — seeing a decline. The biggest gains have been in mining operations, which have improved how they manage waste heat and maintenance. S&P Global [Read more]

Venezuelan crude oil exports could rise to 2 million barrels per day by the end of U.S. President Donald Trump's administration, roughly double current levels, Energy Secretary Chris Wright said on Wednesday at the Reuters Global Energy Forum in New York. (Reporting by Liz Hampton, writing by Richard Valdmanis) [Read more]

YELLOWKNIFE, NT, June 24, 2026 /CNW/ - The world is changing rapidly. In response, a confident Canada is choosing to build. Canada's government is building major projects – new ports, mines, highways, and energy infrastructure – that will transform our economy and unlock billions of dollars in new investment for Canadian workers and businesses. Key to those efforts is the Major Projects Office (MPO) and the Building Canada Act (the Act), which are helping streamline federal approval and [Read more]