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Saturn Oil & Gas Inc. Announces First Quarter 2026 Results Highlighted by Production, Adjusted Funds Flow and Free Funds Flow Ahead of Expectations

Production of 43,116 boe/d was 3% above the high end of guidance and again exceeded consensus estimates Adjusted funds flow(1) over $107 million ($0.59/share) with free funds flow(1) over $62 million ($0.34/share) Net debt(1) down 5% from year end 2025 to $725 million, reflecting Saturn's continued commitment to debt repayment Accelerating capital from H2/26 into Q2 supports volumes coming on sooner into a strong oil price environment Calgary, Alberta--(Newsfile Corp. - May 6, 2026) [Read more]

Occidental scraps new oil hedges as Iran war fuels price volatility

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U.S. shale producer Occidental Petroleum will not add more oil hedges this year after volatility in crude prices following the Iran war led to lower realized prices. Speaking on a post-earnings conference call on Wednesday, Chief Financial Officer Sunil Mathew said derivative-related losses had a partial impact on Occidental's first-quarter profit, which still managed to beat Wall Street expectations. In February, prior to the escalation in the Middle East, Occidental had placed "a modest [Read more]

Oil supply shock to worsen as inventories fall further even if conflict ends

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Oil supplies are set to tighten further in coming weeks even if the U.S. and Iran agree on a peace deal to end their war because it will take weeks for oil shipments to resume from the Middle East Gulf and reach refiners worldwide - so oil companies will continue to deplete storage tanks to meet peak summer demand. The world has used temporary buffers - commercial stockpiles, oil in transit or held in storage at sea and emergency reserves - to offset the shock from the war in the Middle East. [Read more]

European Commission weighs suspending methane fines during energy emergencies, FT reports

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The European Commission is considering suspending methane emissions penalties during energy supply crises after pressure from the United states and the fossil fuel industry to dilute rules on leaks of the greenhouse gas, the Financial Times reported on Wednesday. The Commission plans to roll out new rules on monitoring, reporting and verification for methane leaks and flaring tied to fossil fuel imports next year, the newspaper said, adding that the Middle East crisis has prompted calls to [Read more]

Suncor ratcheting up output of diesel, jet fuel to meet surging global demand

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CALGARY - Suncor Energy Inc. is sending high-demand products like jet fuel and diesel from its Canadian refineries to a variety of far-flung global destinations as strife in the Middle East continues to squeeze supplies. In March, the Calgary-based oilsands producer, oil refiner and fuel retailer made sales in the Philippines and Puerto Rico, "both at significant premiums to market pricing," chief financial officer Troy Little told analysts on a conference call Wednesday. "We have spent [Read more]

NextDecade sees Middle East conflict boosting long-term LNG ship charters

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Ongoing conflict in the Middle East and other disruptions will lead to more companies hiring LNG ships under long-term contracts rather than on the spot market, NextDecade shipping vice president Peter Fitzpatrick said on Wednesday at an event in Houston. The LNG industry became comfortable with hiring ships on the spot market when there was an oversupply of the fuel, with very few long-term deals done in 2024 and 2025, Fitzpatrick said. The market, however, is beginning to realize there will [Read more]

US says airline jet fuel costs jumped $1.8 billion or 56% in March

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Major U.S. passenger airlines spent just over $5 billion on jet fuel in March, up $1.8 billion or 56% from what they spent in February, the U.S. Transportation Department said on Wednesday. The cost per gallon of fuel in March was $3.13, up 74 cents, and 31% over February. Fuel use rose 20% in March, USDOT added. Since the U.S.-Israeli war with Iran began, disruptions to shipping through the Strait of Hormuz have roiled global oil markets. Surging jet fuel prices have created the air [Read more]

International Petroleum Corporation Announces 2026 Annual General Meeting Voting Results

TORONTO, May 06, 2026 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce the voting results from the Corporation’s 2026 Annual General Meeting of Shareholders held on May 6, 2026 in Calgary, Alberta.  Number of Directors The number of Directors of the Corporation was set at eight. Votes For % For Votes Against % Against 61,039,794 99.96 26,566 0.04 Election of [Read more]

Coelacanth Energy Announces Completion of its $80 Million Bought Deal Financing

  /THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./ CALGARY, AB, May 6, 2026 /CNW/ - Coelacanth Energy Inc. (the "Company" or "Coelacanth") (TSXV: CEI) is pleased to announce that, further to its press releases dated April 16, 2026, and April 17, 2026, it has closed its previously announced bought deal financing (the "Bought Deal Financing") pursuant to [Read more]

Suncor Energy declares dividend

All financial figures are in Canadian dollars. Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.60 per share on its common shares, payable June 25, 2026 to shareholders of record at the close of business on June 4, 2026. Suncor Energy - Canada's leading integrated energy company Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, [Read more]