Iran said it struck targets linked to U.S. forces on Saturday in response to U.S. airstrikes on its southern coast, as each side continued to accuse the other of violating last week's agreement meant to end the four-month-old war. Iran's foreign ministry did not identify the locations of its "defensive" attacks, which it said were a response to "the barbaric air strikes" by the U.S. on its coastal surveillance facilities, which it said also violated the U.N. Charter. Later, Bahrain, which [Read more]
Headlines
Norway oil service lockout takes effect, disrupts offshore drilling
Around 1,000 Norwegian oil service workers were locked out on Saturday morning in an escalation of a labour dispute that is expected to disrupt drilling and some production on the Norwegian continental shelf. The lockout was declared in response to an ongoing strike by several hundred members of the Safe union and will affect companies including SLB, Halliburton, Subsea 7, DOF Subsea, Weatherford, DeepOcean and Baker Hughes, an industry group Offshore Norway said on Friday. The country's oil [Read more]
Tanker reports strike by unidentified projectile in Strait of Hormuz, UKMTO says
A tanker has reported being struck by an unidentified projectile in the Strait of Hormuz, the United Kingdom Maritime Trade Operations said on Saturday. The vessel sustained damage to its bridge, but all crew were reported safe and no environmental damage had been reported at the time of the report, UKMTO added. (Reporting by Jana Choukeir; Editing by Andrew Heavens) [Read more]
Trans Mountain Releases Annual Sustainability Report
Calgary, Alberta--(Newsfile Corp. - June 26, 2026) - Trans Mountain Corporation ("Trans Mountain" or "the Company") today released its 2025 Sustainability Report. The report details sustainability progress on key environmental, social and governance priorities and highlights key achievements from the past year. "2025 was an extraordinary year for Trans Mountain - one that underscored our purpose, our responsibility to Canadians and the critical role we play in connecting our country's [Read more]
Baytex Announces Renewal of Normal Course Issuer Bid
Calgary, Alberta--(Newsfile Corp. - June 26, 2026) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "company") is pleased to announce that the Toronto Stock Exchange ("TSX") has accepted the company's notice of intention to renew its normal course issuer bid ("NCIB"). The renewed NCIB allows Baytex to purchase up to 70,899,359 common shares during the 12-month period commencing July 2, 2026 and ending July 1, 2027 or such earlier time as the NCIB is completed or terminated at the [Read more]
US refining capacity fell by 263,000 barrels per day in 2025, says EIA
U.S. refining capacity fell by 263,000 barrels per day (bpd), or 1.43%, in 2025, driven by the planned conversion of a major Houston refinery and a Los Angeles-area plant that shuttered citing market dynamics in California, a state known for strict environmental regulations. Marathon Petroleum, based in Findlay, Ohio, continues as the largest refiner with 2.986 million bpd, or 16.4% of national capacity, according to a report released by the U.S. Energy Information Administration (EIA) on [Read more]
US energy firms add most rigs in a week since June 2022, Baker Hughes says
U.S. energy firms had the biggest weekly increase in rigs since June 2022, energy services firm Baker Hughes said in its report on Friday. The total oil and gas rig count, an early indicator of future output, rose by 10 in the week to June 26, the largest weekly jump in four years. The total reached 573, the highest since May 2025. Baker Hughes said this week's increase puts the total rig count up 26 rigs, or 5% above this time last year. The company said oil rigs climbed by seven to 440 this [Read more]
US diesel refining economics remain firm despite Iran war truce
The U.S. diesel futures crack spread, a measure of profitability for refiners, hit a three-week high as analysts said supply tightness for the product is set to persist even after a preliminary deal was reached to end the Iran war. The crack spread, calculated as the difference between the price of U.S. ultra-low sulfur diesel futures and U.S. crude oil benchmark West Texas Intermediate futures, settled at $62.84 a barrel on Thursday, the highest since June 3, LSEG data showed. Resilient [Read more]
Chevron eyes more deals to power US data centers
Chevron is exploring additional data center deals across the U.S., including the Midwest, Rockies, and Gulf Coast, following its two-decade-long contract to power a Microsoft data center in West Texas, a company executive told Reuters. Oil and gas companies such as Chevron and Exxon Mobil are angling to profit from the record-high electricity demand generated by Big Tech's AI-driven data center expansion, offering their natural gas and experience developing large and complex energy [Read more]
UAE stresses Hormuz security in rare call with Iran after war tensions
UAE Foreign Minister Sheikh Abdullah bin Zayed on Friday stressed the need to protect maritime corridors and ensure freedom of navigation through the Strait of Hormuz in a call with his Iranian counterpart Abbas Araqchi. The exchange, reported by state news agency WAM, marks a rare public contact between Abu Dhabi and Tehran following tensions linked to the U.S.-Israeli war on Iran. It was the first announced conversation between the two ministers since the U.S. and Israeli strikes on Iran, [Read more]
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