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Iraqi Kurdistan announced deals worth $110 billion over their lifetime with U.S. firms HKN Energy and WesternZagros on Tuesday, drawing swift opposition from Baghdad's oil ministry which deemed them "null and void". Prime Minister Masrour Barzani announced the deals in a speech in Washington, a day after they were flagged by an adviser on social media. "The regional government is fully committed to developing the energy sector, especially as our reforms represent a significant step towards [Read more]

An expected stronger hurricane season than average raises the risk of weather-related production outages in the U.S. oil industry, the U.S. Energy Information Administration said on Tuesday. WHY IT MATTERS A large portion of U.S. oil production and the bulk of the country's refineries are in areas prone to hurricanes along the U.S. Gulf Coast. That concentration means more than 1 million barrels per day of U.S. refining capacity, which is roughly 5% of daily U.S. petroleum consumption, [Read more]

Ukrainian Foreign Minister Andriy Sybiha called on Tuesday for the Group of Seven advanced economies to reduce its price cap on Russian seaborne oil to $30 per barrel. The current G7 price cap is $60 per barrel. "The oil price cap, from our point of view, our position, (the) reasonable price cap (is) 30 dollars," Sybiha, who was speaking in English, told reporters in Brussels. (Reporting by Max Hunder, Writing by Timothy Heritage) [Read more]

CALGARY, AB , May 20, 2025 /CNW/ - SECURE Waste Infrastructure Corp. ("SECURE") (TSX: SES) announced today the final results of its previously announced substantial issuer bid which expired on May 14, 2025 (the "Offer"). In accordance with the terms and conditions of the Offer and based on the final count by Odyssey Trust Company, as depositary for the Offer (the "Depositary"), SECURE has taken up and will pay for 9,382,390 Shares at a purchase price of $14.50 per Share. The Shares to be [Read more]

VANCOUVER - British Columbia's power utility is facing transformational challenges of drought, rising costs and a trade war with the United States as it works to meet electricity demand that's surging after two decades of relative stability. An expected demand increase of 15 per cent by 2030 is sparking questions about whether BC Hydro is ready, with one former B.C. environment minister saying the province faces a power gap. The Crown utility says it imported a net 13,600 gigawatt hours of [Read more]

Oil prices barely moved on Tuesday as traders weighed the impact on supply from a possible breakdown in U.S.-Iran talks on Tehran's nuclear programme, strong front-month physical demand in Asia and a cautious outlook for China's macroeconomy. Brent futures dipped 6 cents to $65.48 a barrel by 0305 GMT. U.S. West Texas Intermediate crude futures gained 1 cent to $62.7. Discussions on Iran's nuclear programme would "lead nowhere" if Washington insisted that Tehran slash uranium enrichment [Read more]

U.S. shale producer Continental Resources has filed a lawsuit against Hess Corp alleging that it was defrauded out of up to $69 million through a series of deals the well operator conducted with its subsidiaries. Continental said that Hess, which operates hundreds of wells in North Dakota, artificially inflated midstream service fees by entering into agreements with its own subsidiaries. Net revenues for hydrocarbons from the wells, in which Continental holds a non-operating working interest, [Read more]