Oil jumped on escalating Iranian tensions, including an AI-generated post by U.S. President Donald Trump that he said showed the Kharg Island oil hub being destroyed, a claim one Iranian official said was "laughable". There was no evidence of such an attack and a U.S. official said on Monday the military had not targeted Kharg Island. Following are key facts on Iran's energy industry: KHARG ISLAND The third-largest producer in the Organization of the Petroleum Exporting Countries, [Read more]
Headlines
International Petroleum Corporation Announces Results of Normal Course Issuer Bid and Updated Share Capital
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 224,832 IPC common shares (ISIN: CA46016U1084) during the period of August 24 to 31, 2026 under IPC’s previously announced normal course issuer bid / share repurchase program (NCIB). IPC’s NCIB, announced on December 3, 2025, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated [Read more]
Firms including Chevron, ONGC, GE Vernova on track to sign final pacts in Venezuela, sources say
U.S. Chevron and GE Vernova, India's ONGC, Italy's Eni and Colombia's GeoPark are on track to sign final agreements in Venezuela after months of negotiations to firm up energy projects in the OPEC country, four sources close to the preparations said. The agreements, which could be inked as early as this week, are separate from a massive Caracas-Washington pact announced last week for the United states to lock in a stake in 17 oilfields with some 64 billion barrels of proved reserves, a fifth [Read more]
Cheniere completes Corpus Christi Stage 3 LNG expansion project
LNG exporter Cheniere Energy said on Monday it had substantially completed its Corpus Christi Stage 3 expansion project in Texas, increasing its liquefied natural gas production capacity by more than 20% to 56 million tons per annum (mtpa). The expansion strengthens Cheniere's position as the largest U.S. LNG exporter at a time when the industry is adding capacity to meet growing demand from overseas markets. Here are more details: * The company said the project reached substantial [Read more]
Harvest Operations Corp.: Property Divestiture
Harvest Operations Corp. (“Harvest” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of Harvest’s conventional oil and natural gas properties (the “Properties”) located in Alberta and British Columbia. The Properties consist of operated and non-operated working interests which are located throughout Alberta and British Columbia. For marketing purposes, the Properties are separated into the following geographical packages: BC, East AB and Rocky Mountain [Read more]
Source Rock Royalties announces second quarter 2026 results including record quarterly royalty revenue
CALGARY, AB, Aug. 31, 2026 /CNW/ -- Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil focused royalties and Crown mineral leases, announces results for the three and six month periods ended June 30, 2026. Second Quarter Highlights: Record quarterly royalty revenue of $2,134,983, an increase of 40% over Q2 2025. Quarterly royalty production of 220 boe/d (94% oil and NGLs), a decrease of 7% over [Read more]
Japan’s oil imports rise 17% in July as US supplies jump
Japan's crude oil imports rose 17% in July from a year earlier as a surge in U.S. shipments and a recovery in purchases from Saudi Arabia offset lower supplies from other Middle Eastern producers, official data showed on Monday. Imports rose to 2.38 million barrels per day (11.72 million kilolitres), the Ministry of Economy, Trade and Industry said, marking a second consecutive monthly increase despite disruptions linked to the U.S.-Israeli war on Iran. Imports from the Middle East fell [Read more]
SLB expands data center business with $3.4 billion deal for Kelvion
SLB on Monday said it will acquire cooling equipment maker Kelvion from Apollo Global and funds managed by Triton for $3.4 billion in cash, expanding its data center business as rapid AI adoption drives demand for power and cooling infrastructure. The world's largest oilfield services company will also assume about $700 million of Kelvion's debt under the deal, which is expected to close in the first half of 2027. SLB said the acquisition will expand its data center business and the range [Read more]
Experts, lawyers puzzled over US-Venezuela oil deal, call for contract transparency
A massive long-term oil deal expected to grant the U.S. access to a fifth of Venezuela's crude reserves has energy experts and lawyers questioning its legality and eventual execution, while calling on both governments for contract transparency. The unprecedented pact, announced by U.S. President Donald Trump on Friday and confirmed by Venezuela's interim President Delcy Rodriguez, will put a whopping 65 billion barrels of recoverable oil under Washington's control, a volume that surpasses [Read more]
Trump to host oil executives after accusing refiners of gouging consumers
President Donald Trump has accused U.S. oil refiners of gouging Americans, called for a Justice Department investigation and urged companies to use their bumper earnings to bring down gasoline prices that spiked amid the ongoing conflict with Iran. On Tuesday, he is expected to host many of those companies at the White House to celebrate efforts to keep the market well supplied in hopes of managing gasoline prices currently averaging over $4 a gallon. The timing has created an unusual [Read more]
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