QatarEnergy's European customer Edison expects the Gulf producer to be able to initially supply about two-thirds of contracted volumes of liquefied natural gas after any peace deal between the United States and Iran, the Italian group's CEO said on Friday. Supplies were expected to begin again 30-45 days after a deal, Nicola Monti added, speaking at an event in Milan. Qatar declared Force Majeure on its long-term contract for Edison, a unit of French energy group EDF, earlier this year and [Read more]
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Topaz Energy Corp. announces results of its annual meeting of shareholders
CALGARY, AB, May 8, 2026 /CNW/ - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that its shareholders approved all resolutions at the annual meeting of shareholders of the Company held on May 8, 2026 (the "Meeting"). A report of voting results will be available on SEDAR+ at www.sedarplus.ca. The resolution to appoint the eight (8) nominees as directors of the Company was passed on a vote by poll and each of the directors received the [Read more]
Diamondback bets on wider WTI-Brent gap amid US export ban concerns
U.S. producer Diamondback Energy bought options to sell the price difference between U.S. West Texas Intermediate crude and globally traded Brent crude at around minus $42 a barrel in coming months, according to the company's quarterly filing, a bet that could pay off if the United States banned oil exports. The unusual hedge signals how oil companies are looking for ways to insure their revenue, and the costs associated with it as the Iran war has caused massive whiplashes in prices that [Read more]
Freeport LNG plant in Texas expected to reduce output for maintenance in coming days, sources say
U.S. LNG exporter Freeport LNG is expected to reduce output in the coming days due to unplanned maintenance at the Texas plant, twomarket sources said. The work at the third largest LNG export facility in the U.S. could last through May and have prompted the company to cancel three previously scheduled cargoes, the sources added. Those shipments were due to go to portfolio players that typically buy from various sources and act as middlemen to optimize arbitrage opportunities, two sources [Read more]
South Bow says demand strong for oil shipments to U.S. Gulf Coast
CALGARY - Executives at South Bow Corp. say customers have been clamouring to ship more oil on the southern leg of its pipeline network. Richard Prior, South Bow's chief operating officer, says recent geopolitical turmoil has driven an increase in demand for more oil exports, including via the U.S. Gulf Coast. South Bow operates the Keystone system that runs from eastern Alberta to refineries in the Midwest and the Texas coast. Average throughput on Keystone during the first [Read more]
US drillers add oil and gas rigs for third week in a row, says Baker Hughes
U.S. energy firms this week added oil and natural gas rigs for a third week in a row, the first three-week streak of increases since early February, 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, rose by one to 548 in the week to May 8, its highest since early April. Despite this week's rig increase, Baker Hughes said the total count was still down 30 rigs, or 5% below this time last [Read more]
Canadian gas producers step up sustainability as demand and output surge
Tourmaline sets global first with independent methane certification By Grady Semmens on May 5, 2026, 11:07 am MDT Operations in the Montney play that straddles the B.C./Alberta border. Photo courtesy Tourmaline Oil As a sustainability consultant in Canada’s oil and gas industry, Jamie MacKenzie Eddy has the unique opportunity to get an up-close look at a wide range of energy production. From wellheads and compressor stations to control rooms and corporate boardrooms, MacKenzie [Read more]
Pembina Pipeline increases outlook on rising commodity prices
CALGARY - A jump in commodity prices resulting from the Middle East conflict has helped Pembina Pipeline Corp. raise its earnings outlook for the year. The company says it expects to benefit especially from higher propane prices in Asia thanks to its export facilities on the West Coast. The Calgary-based natural gas processor and shipper has the 20,000-barrel-per-day Prince Rupert Terminal as well as access to third-party facilities including a 20,000 barrel-per-day agreement that came [Read more]
Smith hopes MOU with Ottawa can be finalized in the ‘next number of days’
OTTAWA - Alberta Premier Danielle Smith said Friday she hopes the memorandum of understanding between her province and the federal government can be completed soon because Albertans need to see that "Canada can work." Work is underway to verify signatures on a petition for a separation referendum that could happen in Alberta this fall. Smith and Prime Minister Mark Carney met in Ottawa Friday morning. Both said progress has been made on the agreement to work together on major projects and [Read more]
South Bow working to secure required permitting for Canada-US oil pipeline proposal
Canadian crude oil pipeline company South Bow said on Friday it is beginning efforts to obtain required permits across the U.S. route of its Prairie Connector project. * The Alberta-to-Wyoming pipeline would use portions of pipe already installed in Canada as part of the cancelled Keystone XL project. * South Bow said on a conference call it is working to secure its supply chain, contracting and procurement strategy, as well as working on a cost estimate for the project. * South Bow is [Read more]
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