U.S. energy firms this week added rigs for a fourth week in a row for the first time since early June, energy services firm Baker Hughes said in its closely followed report on Friday. The report, which Baker Hughes usually releases around 1 p.m. EDT (1700 GMT) on Fridays, was delayed by around 49 minutes. Officials at Baker Hughes had no comment on the reason for the delay. The total oil and gas rig count, an early indicator of future output, rose by one to 581 in the week to July 10, its [Read more]
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U.S. Justice Dept reaches deal with South Bow regarding Keystone spill in 2022
CALGARY - The U.S. Justice Department has reached a settlement agreement with pipeline company South Bow Corp. regarding a 2022 rupture of the Keystone pipeline that spilled nearly 13,000 barrels of oil. Under the deal, the company will pay a civil penalty of US$26.9 million related to allegations it violated the Clean Water Act. South Bow has also agreed to spend about US$40 million to complete work to prevent similar problems in the future and pay US$3 million to Kansas for natural [Read more]
Baker Hughes July 10 North American oil and gas rig count report delayed
U.S. energy services firm Baker Hughes' North American oil and natural gas rig count report scheduled for July 10 has been delayed. Officials at the company were not immediately available for comment on the reason for the delay. The widely read report, which the energy industry uses as an early indicator of future oil and gas output, usually comes out on the Baker Hughes website and app around 1 p.m. EDT (1700 GMT) on Fridays. (Reporting by Scott DiSavino; Editing by Mark Porter) [Read more]
Iran top negotiator Qalibaf says conflict will not end with Iran’s surrender
Iran's top negotiator Mohammad Baqer Qalibaf said that Tehran was ready for "all-out defence" if Washington betrayed last month's memorandum of understanding, and the war would never end with Iran's surrender. Qalibaf, speaking during a meeting with Ahmad Muzani, speaker of Indonesia's People's Consultative Assembly, said he had told the U.S. vice president during negotiations that Tehran did not trust Washington and that, in his view, only those prepared for war could negotiate with the United [Read more]
US natgas falls 4% to 8-week low on milder weather outlook, lower LNG export flows
U.S. natural gas futures fell about 4% to an eight-week low on Friday on forecasts for less hot weather than previously expected over the next two weeks, an expected decline in flows to liquefied natural gas (LNG) export plants during maintenance at Freeport LNG in Texas, and ample amounts of gas in storage. Front-month gas futures for August delivery on the New York Mercantile Exchange fell 12.4 cents, or 4.1%, to $2.888 per million British thermal units (mmBtu), putting the contract on track [Read more]
Iran has asked to continue talks and the US agreed, Trump says
President Donald Trump on Friday said the United States had agreed to talks with Iran after Tehran asked to continue negotiations, while stressing that the June ceasefire between the two nations was over. "The Islamic Republic of Iran has asked us to continue 'talks.' We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!" Trump wrote in a post on Truth Social. The U.S. and Iran traded strikes this week, with the Iranian armed [Read more]
Keeping cool: How Meta plans to cut down on water use at its Alberta data centre
CALGARY - A Meta Platforms Inc. executive garnered applause at a news conference this week after he boasted that a gargantuan data centre planned for north of Edmonton would use less water annually than a typical Alberta golf course. The tech behemoth was announcing a $13-billion-plus investment in a complex the size of 33 Canadian Football League fields. It will be powered by a new natural gas plant that could eventually produce more electricity than what the City of Edmonton uses. The [Read more]
Tanker traffic slows in Strait of Hormuz after US and Iran clashes
Daily tanker traffic in the Strait of Hormuz appeared to have slowed on Friday, after the U.S. and Iran exchanged hostilities this week and renewed their arguments over who was in control of passage through the critical waterway. The attacks renewed concerns about the recovery of global oil supplies and shipping, and highlighted the fragility of an interim truce while the U.S. and Iran hammer out a lasting agreement. Oil prices eased on Friday but remained on track for weekly gains of 4-5% [Read more]
Prime Minister of Canada Mark Carney and the Crown Prince and Prime Minister of Saudi Arabia, His Royal Highness Mohammed bin Salman commit to deepening bilateral engagement and economic cooperation
JEDDAH, Saudi Arabia, July 9, 2026 /CNW/ - "At the invitation of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, the Right Honourable Mark Carney, Prime Minister of Canada, made an official visit to Jeddah, the Kingdom of Saudi Arabia during the period of (23-25) Muharram 1448 AH corresponding to (8-10) July 2026. Leaders agreed to elevate bilateral ties and set clear priorities for a deeper and sustained cooperation across trade, [Read more]
Iran escalation could threaten 2027 oil market surplus, IEA says
A recent escalation of hostilities between the U.S. and Iran could upend the International Energy Agency's forecast of a significant oil market surplus next year, it said on Friday, as global supply jumped in June when the Strait of Hormuz reopened but still lagged pre-war levels. Global oil markets received some respite last month as a peace agreement between the U.S. and Iran facilitated the opening of the Strait, the effective closure of which had taken out as much as 14 million barrels [Read more]