Asia spot liquefied natural gas (LNG) prices rose this week as efforts to end the Iran war remained at an impasse, while extended force majeure on Qatari volumes supported prompt markets. The average LNG price for June delivery into north-east Asia was estimated at $17.80 per million British thermal units (mmBtu), industry sources said, up from $16.70/mmBtu last week. "Until we see a diplomatic resolution or more meaningful draws going into cooling season, we can expect range bound [Read more]
Headlines
Venezuela’s oil exports jump to highest since 2018, with more sales to US, India
Venezuela's oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by more sales to the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday. The South American country has been draining oil inventories and recovering crude output in recent months following the U.S. capture of President Nicolas Maduro in January, which led to a flagship supply pact between the governments of U.S. President [Read more]
Investors are running out of time to brace for true oil shock
In thrall to an AI boom that has sent stocks to record highs and harbouring hopes of a short-lived Iran war, investors have yet to prepare for a doubling of physical oil prices. The window to do so may soon be closing. There are plenty of reasons for market confidence, largely centred on the artificial intelligence galaxy of hyperscalers, semiconductor makers and software developers and robust earnings growth. The S&P 500 hit fresh record highs on Thursday. While price pressures are [Read more]
The UAE dumping OPEC may not affect crude as anticipated: Russell
The United Arab Emirates' withdrawal from OPEC is widely seen as lessening the clout of the producer group and initiating a race to boost output, ultimately resulting in sharply lower crude oil prices. However, the U.S. and Israeli war against Iran has upended global crude markets to such an extent that expecting what might otherwise seem the most obvious outcome is likely flawed thinking. It may be the case that the UAE decision to leave the Organization of the Petroleum Exporting [Read more]
Imperial declares second quarter 2026 dividend
CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) today declared a quarterly dividend of 87 cents per share on the outstanding common shares of the company, payable on July 1, 2026, to shareholders of record at the close of business on June 4, 2026. This second quarter 2026 dividend compares with the first quarter 2026 dividend of 87 cents per share. Imperial has a long and successful history of growth and financial stability in Canada as a [Read more]
Gibson Energy Announces Closing of $400 Million Chauvin Infrastructure Acquisition to Extend Hardisty Platform and Sanctioning of Hardisty Connection Project
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, May 01, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI) is pleased to announce the closing of its previously announced acquisition of Teine Energy Ltd.’s (“Teine Energy”) Chauvin Infrastructure Assets (the “Transaction”). Through the Transaction, Gibson has acquired a crude oil gathering pipeline system and associated infrastructure connecting Chauvin to the Hardisty oil [Read more]
ExxonMobil Announces First-Quarter 2026 Results
Delivered first-quarter earnings of $4.2 billion, or $8.8 billion excluding unfavorable estimated timing effects of $3.9 billion and an identified item of $0.7 billion Generated earnings per share of $1.00, or $1.16 excluding the identified item, and $2.09 excluding the identified item and estimated timing effects Sustained industry-leading reliability and delivered record production in Guyana1 Achieved first LNG at Golden Pass Train 1, increasing U.S. LNG exports by 5% Generated a [Read more]
Chevron Reports First Quarter 2026 Results
Reported earnings of $2.2 billion; adjusted earnings of $2.8 billion Returned $6.0 billion cash to shareholders; 16th consecutive quarter over $5 billion Worldwide and U.S. production increased by 15 and 24 percent, respectively HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) reported earnings of $2.2 billion ($1.11 per share - diluted) for first quarter 2026, compared with $3.5 billion ($2.00 per share - diluted) in first quarter 2025. Included in the quarter was a net loss [Read more]
Imperial announces first quarter 2026 financial and operating results
Quarterly net income of $940 million Cash flows from operating activities of $756 million and cash flows from operating activities excluding working capital1 of $1,239 million Quarterly Upstream production of 419,000 gross oil-equivalent barrels per day Kearl quarterly production of 259,000 total gross oil-equivalent barrels per day (183,000 barrels Imperial's share) Cold Lake quarterly production of 155,000 gross oil-equivalent barrels per day Downstream refinery capacity [Read more]
Occidental Announces CEO Succession
Vicki Hollub to retire as President and CEO effective June 1, 2026; Occidental’s Board Names Chief Operating Officer Richard Jackson as her successor HOUSTON, May 01, 2026 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that its Board of Directors, as part of its management succession planning, has named Senior Vice President and Chief Operating Officer Richard Jackson to succeed Vicki Hollub as President and Chief Executive Officer upon her retirement. Hollub will retire effective [Read more]
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