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Lifting US sanctions on Iran could crush China’s ‘teapot’ oil refineries: Bousso

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(The opinions expressed here are those of the author, a columnist for Reuters.) *Chinese independent refineries accounted for 77% of Iran 2024 exports *Iranian imports are discounted, offering profits uplift *Removal of sanctions will undermine teapots' business model By Ron Bousso LONDON, May 19 - The possible lifting of U.S. sanctions on Iran's oil exports could deal a fatal blow to independent Chinese refineries that have thrived by processing Tehran’s discounted crude, while [Read more]

First LNG ship bunkering hub in US Gulf Coast secures permits to start work

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A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG seen as a cleaner alternative. U.S. President Donald Trump's administration is seeking to expand LNG exports to help reduce Europe's dependency on Russian gas [Read more]

Western Energy Services Corp. announces appointment of Chief Executive Officer

CALGARY, AB, May 16, 2025 /CNW/ - The Board of Directors (the "Board") of Western Energy Services Corp. (the "Company" or "Western") (TSX: WRG) announces the appointment of Gavin Lane as President and Chief Executive Officer ("CEO") of Western effective immediately. Mr. Lane is being named as CEO, after serving as Interim CEO since January 31, 2025. Following the retirement of Alex MacAusland, the Western Board undertook a thorough evaluation process, including a comprehensive [Read more]

Birchcliff Energy Ltd. Announces Voting Results from 2025 Annual Meeting of Shareholders

CALGARY, Alberta, May 16, 2025 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“Birchcliff”) (TSX: BIR) is pleased to announce that at its Annual Meeting of Shareholders held on May 15, 2025 (the “Meeting”), shareholders elected all six of the proposed director nominees listed in Birchcliff’s information circular dated March 26, 2025 (the “Information Circular”) and approved all other matters voted upon at the Meeting. The matters voted upon at the Meeting were discussed in detail in the [Read more]

Precision Drilling Corporation Announces Voting Results from the 2025 Annual and Special Meeting of Shareholders

CALGARY, Alberta, May 15, 2025 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (Precision or the Company) is pleased to announce the results of the election of board members at its 2025 Annual and Special Meeting of Shareholders held on May 15, 2025 (the Annual Meeting). Shareholders approved the election of all eight (seven of whom are independent) of the nominee directors presented in the Company’s Management Information Circular (the Circular), dated April 2, 2025. The shares [Read more]

North Dakota oil producers plan to drop rigs due to weaker prices, state regulator says

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Oil and gas operators in North Dakota have indicated they plan to drop rigs and frac crews due to weaker oil prices, a move that is likely to impact output in the third largest U.S. oil producer, the state's Department of Mineral Resources said on Friday. Oil producers have started to slow output, dropping rigs, as prices have fallen below $65, the price required to break even. North Dakota breakevens have historically been in the $55 to $60 a barrel range, said Nathan Anderson, director [Read more]

Stockwell Day supports Alberta vote on separation, warns it’s dangerous for Tories

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OTTAWA - The Alberta separatist movement presents a danger to the federal Conservative party, said former Tory member of Parliament Stockwell Day. "I'll lose friends saying this: — it will only split the vote and only strengthen the Liberal position," he said in an interview from Edmonton. In the most recent federal election, more than 1.4 million Albertans voted for a Conservative candidate and elected 34 of the party's 143 MPs. Day said both an independent Alberta and a separatist [Read more]

Keystone restrictions, market uncertainty weigh on South Bow earnings forecast

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CALGARY - Oil shipper South Bow Corp. is lowering the upper end of its 2025 earnings forecast due to market uncertainty and ongoing pressure restrictions on its Keystone pipeline. A segment of the Alberta-to-Texas system ruptured and spilled crude onto North Dakota farmland last month. The Calgary-based company says earnings before interest, taxes, depreciation and amortization are expected to be around US$1.01 billion this year, as earlier predicted. However, its most optimistic [Read more]

US drillers cut oil and gas rigs for third week in a row – Baker Hughes

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U.S. energy firms this week cut the number of oil and natural gas rigs operating for the third week in a row for the first time since mid April, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 576 in the week to May 16, the lowest since January. Baker Hughes said this week's decline put the total rig count down by 28 rigs, or 5% below this time last year. Baker Hughes said oil [Read more]