Hundreds of kilometres from anything resembling civilisation, a remote shale natural gas field in northern Australia may seem like an unusual beneficiary of the Iran conflict. But energy security is once again paramount as Asia grapples with the fallout from the war, and a new scramble for long-life resources is taking shape. The Beetaloo basin lies about 600 kilometres (373 miles) from the Northern Territory capital of Darwin, a remote city closer to the Indonesian capital Jakarta (2,740 [Read more]
Headlines
Why oil importers are learning to live with longer trade routes: Maguire
Energy trade routes that optimize distance and costs may no longer be suitable for the fractured and fractious modern world, especially for major importers. Ongoing tensions involving Iran are pushing major oil importers to develop alternative supply routes, which increasingly bypass the supply hubs that previously dominated global energy trade. The end result is a shift away from the concentrated energy corridors of recent decades to a more dispersed network of supply lines that cost more [Read more]
Saturn Oil & Gas Inc. Announces TSX Approval to Renew the Normal Course Issuer Bid, Continuing Our Active Shareholder Returns Strategy
Calgary, Alberta--(Newsfile Corp. - September 3, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, today announced that the Toronto Stock Exchange ("TSX") has accepted Saturn's notice to renew our Normal Course Issuer Bid ("NCIB") for a further one-year term, following the successful completion of our previous NCIB, which we fully [Read more]
Lotus Creek Exploration Inc. Announces Wilson Creek Operational Update and July Update to Shareholders
Calgary, Alberta--(Newsfile Corp. - September 2, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC) ("Lotus Creek" or the "Company") is pleased to provide an operational update on its Wilson Creek light oil asset and ongoing Belly River development program. Wilson Creek Development Update In September 2025, Lotus Creek commissioned its operated 02-29 Wilson Creek battery, establishing the infrastructure foundation for the first phase of development of the asset. Since commissioning the [Read more]
Goldman Sachs sees Venezuela crude output rising, but return to pre-2018 levels unlikely
Goldman Sachs expects Venezuela's crude production to edge higher, but does not see output returning to pre-2018 levels of more than 2 million barrels per day over the next few years. It said in a note that key bottlenecks, including degraded infrastructure and an unreliable power grid, will be costly and time-consuming to fix. * Several international energy firms, including Eni, GE Vernova and Chevron, committed on Wednesday to project expansions to boost oil output in Venezuela, in a signing [Read more]
Diversified Energy to buy Birch for $1.8 billion, boost Permian footprint
U.S.-based Diversified Energy said on Wednesday it will acquire privately held Birch for about $1.8 billion, expanding its presence in the oil- and gas-rich Permian Basin. Here are a few details: * Birch produces about 68,000 barrels of oil equivalent per day and holds 480 net wells. * The acquisition will be funded primarily through a $1.5 billion asset-backed securitization arranged with investment firm Carlyle, along with existing credit facilities. * Diversified Energy and [Read more]
Shell completes acquisition of ARC Resources
Calgary, September 2, 2026 − Shell plc has completed the previously announced agreement (the “Arrangement Agreement”) to acquire ARC Resources Ltd. (“ARC”) (TSX: ARX), an energy company focused in British Columbia and Alberta, Canada, following receipt of all required shareholder, court and regulatory approvals. The acquisition accelerates Shell's strategy by adding approximately 370 kboe/d immediately across liquids and gas, supporting a production compound annual growth rate (CAGR) of around [Read more]
ARC Resources Ltd. announces closing of acquisition by Shell plc
CALGARY, AB, Sept. 2, 2026 /CNW/ -- (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Company") announced today the closing of the previously announced acquisition by an indirect, wholly-owned subsidiary of Shell plc ("Shell") of all of the outstanding common shares of ARC (the "ARC Shares") in a cash and share transaction (the "Arrangement") valued at approximately CAD $22 billion, including assumed net debt, and pursuant to the arrangement agreement dated April 27, 2026, as amended by [Read more]
Bank of Canada holds key rate as it prioritizes ‘multiple risks in play’
OTTAWA - The Bank of Canada stuck to the sidelines Wednesday as governor Tiff Macklem suggested the re-escalating trade war with the United States is not the only risk monetary policymakers are monitoring. The central bank left its policy rate unchanged at 2.25 per cent for a seventh consecutive decision. The move was widely expected by economists. The bank has been watching to see whether cost pressures from the war in Iran could spread into other pockets of the consumer [Read more]
US crude oil output and petroleum demand rose in June, EIA says
U.S. crude oil output and demand for crude oil and petroleum products rose in June, the U.S. Energy Information Administration (EIA) said in its Petroleum Supply Monthly report, which was delayed until Tuesday. Crude output climbed to 13.79 million barrels per day (bpd) in June, up from 13.76 million bpd in May. The monthly record high was 14.00 million bpd in October 2025. U.S. demand for crude oil and petroleum products rose to 20.74 million bpd in June, up from 20.07 million bpd in May. [Read more]
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