Refinancing our existing 2029 notes enhances financial flexibility by transitioning to a senior unsecured note from senior secured Significantly reduces interest costs, extends tenor to 2031, eliminates the mandatory 10% amortization feature and relaxes covenants Calgary, Alberta--(Newsfile Corp. - July 21, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce that we have priced a private placement dual-tranche offering (the [Read more]
Headlines
US war in Iran has cost $37.5 billion so far, Pentagon says
The United States' war in Iran has cost $37.5 billion so far, U.S. Defense Secretary Pete Hegseth said on Tuesday, an increase of nearly $8 billion since the last public estimate. Hegseth told lawmakers at a hearing in Washington that the figure included certain aspects of the war as well as anticipated costs through September 30. It was unclear how the Pentagon arrived at the $37.5 billion figure. A source told Reuters in March that President Donald Trump's administration estimated the [Read more]
Suncor Energy to release second quarter 2026 financial results
Calgary, Alberta--(Newsfile Corp. - July 21, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) will release its second quarter financial results on August 4, 2026 before 5:00 p.m. MT (7:00 p.m. ET). A webcast to review the second quarter will be held on August 5, 2026 at 7:30 a.m. MT (9:30 a.m. ET). A question and answer period with analysts will follow brief remarks from management. To listen to the webcast, please follow the instructions provided at https://www.suncor.com/en [Read more]
For the first month since Seven Generations merger in 2021, ARC Resources did not have highest condensate production in Canada – StackDX Intel
In May 2026, ~70% of Canadian C5+ condensate production was licensed to only 5 producers. Ovintiv, ARC Resources (soon to be part of Shell), Canadian Natural Resources, Tourmaline Oil and Whitecap Resources rounded out the top 5 (Figure 1). For the first time since ARC Resources' merger with Seven Generations in 2021, ARC was not the top condensate producer in the country on a gross licensed basis (Figure 2). That honour fell to Ovintiv in May, whose condensate production slightly eclipsed [Read more]
TC Energy brings two new western Alberta gas transport projects into service
CALGARY - Natural gas shipper TC Energy Corp. says two newly built projects are up and running in western Alberta. The Calgary-based company says it invested a total of $500 million in its Valhalla North and Berland River projects. They're part of TC's vast NGTL System that carries natural gas throughout Alberta and B.C. Valhalla North is a 33-kilometre pipeline northwest of Grande Prairie, Alta., and Berland River is a 30-megawatt electric powered compressor station northwest of Edson, [Read more]
Kazakhstan’s disputes with oil majors
Kazakhstan warned the head of an oil consortium that is developing the huge Kashagan oil field, and includes Shell and Exxon, of possible criminal prosecution for not paying a $5 billion environmental fine, two sources told Reuters on Tuesday. The move is the latest in a string of disputes which have led to international firms ceding partial control of the country's giant oilfields to the state or paying cash settlements. INTERNATIONAL OIL MAJORS IN KAZAKHSTAN: TENGIZ FIELD The [Read more]
Trump says U.S. ready to respond if Houthis impose Red Sea blockade
U.S. President Donald Trump on Tuesday said the United States would respond if Yemen's Iran-aligned Houthi movement follows through on its threat to impose a blockade on commercial shipping in the Red Sea, saying that if the group takes action, the United States "will just have to take care of business." (Reporting By Nandita Bose and Jarrett Renshaw) [Read more]
Refiners elbow traders to take a larger slice of Venezuela’s oil
Refiners and oil-producing firms in the U.S. and elsewhere are gaining market share in Venezuela's crude as they sign direct contracts with state-run PDVSA, challenging the global traders that inked earlier deals with the government of interim President Delcy Rodriguez. Trading houses Vitol and Trafigura currently control the lion's share of Venezuela's oil exports through agreements signed in January with Caracas that are overseen by Washington, allowing them to take more than 100 million [Read more]
Two tankers carrying Saudi crude make U-turns in Red Sea after Houthi warning
Two oil tankers loaded with Saudi crude for China and India made U-turns in the Red Sea on Tuesday, heading towards the Suez Canal rather than braving the Yemeni coast at the sea's mouth following a warning from Yemen's Iran-aligned Houthi militia. The changes in direction by the ships, the Xin Long Yang and the Rodos, suggest a second potential disruption to a major shipping route that could compound the shortfall in global energy markets caused by the closure of the Strait of Hormuz. The [Read more]
CPC stops accepting Kazakh oil due to attacks on tankers, sources say
The Caspian Pipeline Consortium has stopped receiving oil from Kazakhstan after suspending loadings on Monday due to attacks on oil tankers at its Black Sea terminal, three industry sources said. Two of the sources, speaking on Tuesday, also said that oil reservoirs at the terminal are full. CPC, which accounts for 80% of oil exports from Kazakhstan, declined to comment. CPC said on Monday that oil loadings were suspended at the Black Sea port following a drone attack on [Read more]
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