U.S. crude stocks and distillate inventories fell last week, while jet fuel demand rose to a five-year high, the Energy Information Administration (EIA) said on Wednesday. Gasoline inventories rose, stoking concerns among analysts of weak demand ahead of a major driving holiday in the U.S. later this month. Crude inventories fell by 2 million barrels to 438.4 million barrels last week, the EIA said, compared with analysts' expectations in a Reuters poll for a 833,000-barrel draw. Crude [Read more]
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Freeport LNG export plant in Texas on track to exit outage on Wed, LSEG data shows
U.S. liquefied natural gas (LNG) company Freeport LNG's export plant in Texas was on track to take in more natural gas on Wednesday after shutting on Tuesday, a sign the plant was exiting an outage, according to gas flow data from financial firm LSEG. Officials at Freeport LNG had no comment. In a report to Texas environmental regulators late on Tuesday, Freeport said the three liquefaction trains at the export plant shut Tuesday morning due to an incoming power feed interruption. Power [Read more]
Tamarack Valley Energy Achieves Record Quarterly Oil Production Driven by Clearwater Waterflood Success and Announces 2025 Investor Day
TSX: TVE CALGARY, AB, May 7, 2025 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce its financial and operating results for the three months ended March 31, 2025. Selected financial and operating information should be read with Tamarack's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended March 31, 2025, which are available on SEDAR+ at www.sedarplus.ca and on [Read more]
Obsidian Energy Announces First Quarter 2025 Results
Closed $320 million divestiture of Pembina assets on April 7, 2025, with cash proceeds used to reduce debt level Completed first quarter program with 26 (24.4 net) operated wells rig released and 19 (17.9 net) operated wells brought on production Responded to the market environment by reducing our first half capital program to $165 - $170 million from $185 - $195 million Commenced drilling waterflood injector pilot at the Dawson 4-24 Pad Calgary, Alberta--(Newsfile Corp. - May 7, [Read more]
China’s Xi set to begin Russia visit in symbolic show of support for Putin against West
Chinese President Xi Jinping is due to start a four-day visit to Russia on Wednesday, giving President Vladimir Putin an important diplomatic boost at a time when the Russian leader is keen to show his country is not isolated on the world stage. Xi, whose country is locked in a tariff war with the United States, is expected to sign numerous agreements to deepen the already tight "no limits" strategic partnership with Moscow, which has consistently seen China crowned Russia's biggest trading [Read more]
Oil rises as market eyes US-China trade talks, lower US output
Oil prices rose on Wednesday, holding slightly above recent four-year lows, as investors focused on U.S.-China trade talks and signs of lower U.S. production. Brent crude futures gained 44 cents a barrel, or 0.7%, to $62.59 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude was up 50 cents, or 0.9%, at $59.59 a barrel. Both benchmarks plunged to a four-year low recently after OPEC+'s decision to speed up output increases, stoking fears of oversupply at a time when U.S. tariffs [Read more]
Greenfire Resources Reports Voting Results from 2025 Annual Meeting of Shareholders
Calgary, Alberta--(Newsfile Corp. - May 6, 2025) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company") is pleased to announce the voting results from its annual meeting of shareholders held May 6, 2025 in Calgary, Alberta (the "Meeting"). Voting Results from the Meeting Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated April 3, 2025 (the "Information Circular"), which is available on SEDAR+ [Read more]
Advantage Announces Annual General Meeting Voting Results on Election of Directors
(TSX: AAV) CALGARY, AB, May 6, 2025 /CNW/ - Advantage Energy Ltd. ("Advantage") is pleased to announce that on May 6, 2025 it held its annual general meeting of shareholders (the "Meeting"). A total of 139,719,060 common shares (approximately 83.52% of the outstanding common shares) were represented at the Meeting in person or by proxy. At the Meeting, shareholders approved the election of ten (10) nominees as directors of Advantage to serve until the next annual meeting of shareholders or [Read more]
MEG Energy Reports 2025 Director Election Voting Results
CALGARY, AB, May 6, 2025 /CNW/ - MEG Energy Corp. ("MEG" or the "Corporation") (TSX: MEG) is pleased to announce that at its annual meeting of shareholders held on May 6, 2025 (the "Meeting"), all resolutions were approved as follows: Election of Directors Each of the ten (10) nominees listed in its Management Information Circular dated March 17, 2025, were elected as directors. The results of the shares voted in respect of the election of each director are set out [Read more]
Canada’s Cenovus confirms job reductions ahead of earnings this week
Canadian oil and gas producer Cenovus Energy has reduced its employee headcount ahead of the release of its first-quarter earnings report this week. The Calgary-based company confirmed the job cuts in an email to Reuters Tuesday afternoon. "We have reviewed some team structures, which has led to some employees and contractors leaving the company," Cenovus said, adding the job cuts were part of an effort to be more competitive across all areas of the business, and were also due to the [Read more]
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