U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 548 in the week to October 17. Despite this week's rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year. Baker Hughes said oil rigs held steady at 418 this week, while gas rigs rose by one to [Read more]
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BP says fire extinguished at Whiting, Indiana refinery
A fire broke out at BP's 440,000 barrel-per-day Whiting refinery in Indiana and was extinguished as of Friday morning, the company said. The fire resulted from an operational incident and there were no injuries, the company said in an emailed statement. It did not elaborate on the incident. Reuters earlier reported multiple units were offline at the refinery, which is the largest in the U.S. Midwest region, according to two market sources that were citing data from Wood Mackenzie. The [Read more]
SLB Q3 Results Highlight Shift Toward Production, Digital, and International Growth
SLB reported Q3 2025 revenue of $8.93 billion, up 4% sequentially but down 3% year-on-year, as earnings and margins declined amid a fully supplied oil market, subdued prices, and geopolitical uncertainty. GAAP EPS fell 40% YoY to $0.50, while adjusted EBITDA was flat sequentially and down 12% YoY. Despite the earnings pressure, SLB said global oilfield activity is showing resilience, particularly in the Middle East and Asia, and expects OPEC+ production increases to spur new investment. CEO [Read more]
Western pressure to hit Asian buying of Russian oil from December, sources say
U.S. and European pressure on Asian buyers of Russian energy could restrict India's oil imports from December, leading to cheaper supplies for China, while Japan is unlikely to halt its Sakhalin liquefied natural gas shipments for now, trade sources and analysts said. Washington is exerting pressure on China, India and Japan through trade talks to reduce their purchases of Russian oil and LNG, while Britain has just imposed sanctions on Chinese and Indian entities. More sanctions from the [Read more]
Energy transition set to divide manufacturers across the Atlantic: Maguire
Manufacturers in North America and Europe are set to embark on starkly different power-source paths in the decades ahead, which could reshape the future prospects for goods producers on both sides of the Atlantic. In North America, natural gas is primed to remain the main power source for factories and production lines thanks to the massive gas deposits across the region. In Europe, an ongoing push to cut reliance on imported fossil fuels is set to shift most factories to run on [Read more]
India already cutting Russian oil imports by 50% after US talks, White House official says
The United States and India have held productive trade talks, and Indian refiners are already cutting Russian oil imports by 50%, a White House official told Reuters on Thursday. However, Indian sources said the cut was not visible yet, though it could be reflected in import numbers for December or January. Refiners had already placed orders for November loading that included some cargoes for December arrival as well, the sources said. The Indian government has not yet informed refiners of [Read more]
Oil set for weekly loss as Trump-Putin summit looms
Oil prices edged lower in early trade on Friday, heading for a weekly loss, with uncertainty over global energy supplies after U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet in Hungary to discuss ending the war in Ukraine. Brent crude futures fell 8 cents, or 0.13%, lower at $60.98 a barrel at 0030 GMT, while U.S. West Texas Intermediate futures were down 9 cents, or 0.16%, at $57.37. On a weekly basis, both benchmarks were down nearly 3%, partly due to the [Read more]
South Bow Announces Timing of Third-quarter 2025 Results and Conference Call and Webcast
CALGARY, Alberta, Oct. 16, 2025 (GLOBE NEWSWIRE) -- South Bow Corp. (TSX & NYSE: SOBO) (South Bow or the Company) will release its third-quarter 2025 financial and operational results after the close of markets on Nov. 13, 2025. Conference call and webcast details South Bow's senior leadership will host a conference call and webcast to discuss the Company's third-quarter 2025 results and 2026 outlook on Nov. 14, 2025 at 8 a.m. MT (10 a.m. ET). Date Nov. 14, [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for November delivery in Hardisty, Alberta, settled at $10.35 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared to Wednesday's close of $10.25. * October's tight discount is being driven by supply impacts from seasonal maintenance in the Canadian oil sands, strong Asian buying, and strong demand from U.S. refineries, analysts say. * [Read more]
TC Energy to host third quarter 2025 conference call on Nov. 6
CALGARY, Alberta, Oct. 16, 2025 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) will hold a teleconference and webcast on Thursday, Nov. 6, 2025, to discuss its third quarter financial results. The event will also include an update to the Company’s financial outlook along with other developments. François Poirier, TC Energy President and Chief Executive Officer; Sean O’Donnell, Executive Vice-President and Chief Financial Officer, and other [Read more]
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