CALGARY - Canadian oil producers saw a 68 per cent surge in operating profits between the first and second quarters of this year, but capital spending hasn't kept anywhere near the same pace, says a new report from Deloitte Canada. The consulting firm notes that crude prices have experienced "considerable volatility" in recent months due to the Middle East war, with the international light benchmark, Brent, fluctuating between US$68 and US$105 per barrel in July and August alone. High [Read more]
Headlines
Battle for Mideast oil market share has already begun: Bousso
Middle East oil producers have launched a battle to recapture market share lost during the Iran war, setting current and former OPEC members on a collision course as traffic through the Strait of Hormuz gradually recovers. Such turf battles usually send crude prices plummeting, yet consumers are unlikely to see much relief at the pump in the near term. The Iran war, now in its eighth month, delivered the biggest shock to the global oil market in decades. After Iran imposed a blockade on the [Read more]
Oil and gas emissions dropped in 2025 despite increased production: report
OTTAWA - Canada's oil and gas sector accounted for a lower level of emissions in 2025, despite boosts in production, while the country's overall emissions ticked up thanks to increased reliance on natural gas to heat homes. Those are among the findings in the Canadian Climate Institute's annual national emissions report, released Thursday. The institute, which receives three-quarters of its funding from the federal government, is releasing early estimates of Canada's year greenhouse gas [Read more]
Oil rises as Middle East supply concerns persist amid shipping attacks
Oil prices rose on Thursday on persistent worries about supply from the key Middle East producing region amid an increase in attacks on shipping in the Gulf and the Strait of Hormuz, while the US cut output as a hurricane menaced offshore production. Brent crude futures rose $2.28, or 2.28%, to $102.28 a barrel by 0427 GMT. US West Texas Intermediate (WTI) crude futures gained $1.66, or 1.88%, to $89.94. Prices settled lower on Wednesday after the International Energy Agency agreed to [Read more]
Pine Cliff Energy Ltd. Announces Expanded 2026 Development Program, New Credit Facility and Monthly Dividend for October 30, 2026
Calgary, Alberta--(Newsfile Corp. - October 7, 2026) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) ("Pine Cliff" or the "Company") is pleased to announce that it is expanding its 2026 development program in Central Alberta with the intent to drill two gross Glauconite wells in the Caroline area and one gross Pekisko oil well in the Three Hills area. The Company is partnering with a third party on the capital costs and production from the Glauconite wells, which includes the well currently [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select (WCS) crude oil to North American benchmark West Texas Intermediate futures widened on Wednesday, as soaring global freight prices continue to put pressure on Canadian barrels re-exported off the US Gulf Coast. WCS for November delivery in Hardisty, Alberta, settled at $25.15 a barrel below the US benchmark WTI, according to brokerage CalRock, compared with $24.95 on Tuesday. The discount remains more than $10 wider than it was at this point in last [Read more]
Conservative motion seeking more diesel relief defeated in House of Commons
OTTAWA - The Conservative party's proposal to extend federal relief on diesel fuel was voted down in the House of Commons today. Global prices for diesel and gasoline have spiked since the spring as the war in Iran has disrupted fuel shipments from the Gulf region. The Liberal government already has extended an earlier pause on the federal fuel excise tax, which includes diesel, into 2027, but the Conservatives want to see the government go further. The Conservatives tabled a motion [Read more]
EPA says will rescind policy targeting oil and gas industry methane leaks
The US Environmental Protection Agency on Wednesday said it is days away from proposing to rescind a Biden-era policy that sought to rein in large leaks of methane, a potent greenhouse gas, from oil and gas operations. The move is part of a broad Trump administration effort to slash regulations that it says burden US businesses as it seeks to boost domestic fossil fuel production. "Americans must be able to afford to heat their homes in the winter and fill up their car and drive to work. [Read more]
About 25% of Gulf of Mexico oil output shut in due to Isaias, US agency says
US Gulf of Mexico oil and gas producers had shut in about 25.08% of current oil production and 16.37% of current natural gas production as of Wednesday, as operators responded to Tropical Storm Isaias, according to the Marine Minerals Administration. The regulator said personnel had been evacuated from eight production platforms, representing 2.16% of the 371 manned platforms in the Gulf of Mexico. It also said personnel had been evacuated from two non-dynamically positioned rigs, equivalent [Read more]
QatarEnergy’s LNG expansion project poised to start operations in November, sources say
The first liquefied natural gas train under QatarEnergy's North Field East expansion project will be ready to start operation in November, two people aware of the company's plans said, offering Qatar a path to restoring some output lost to Iranian attacks. Launching the train would be a major milestone for the world's largest LNG expansion project at a time when Qatar is still recovering from the damage caused by attacks on Ras Laffan, which wiped out 17% of the country's LNG capacity. LNG [Read more]
- « Previous Page
- 1
- …
- 39
- 40
- 41
- 42
- 43
- …
- 3924
- Next Page »