The amount of natural gas flowing to U.S. liquefied natural gas (LNG) company Cheniere Energy's Sabine Pass export plant in Louisiana was on track to rise to a three-week high on Monday, according to data from financial firm LSEG. Energy traders said that expected increase in gas flows and a notice from Cheniere that the company finished work on a pipeline that provides gas to the plant on June 20 were signs that the facility was exiting a roughly three-week maintenance [Read more]
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Imperial renews annual normal course issuer bid
CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) to repurchase up to five percent of its 509,044,963 outstanding common shares as of June 15, 2025, or a maximum of 25,452,248 shares during the next 12 months. This maximum will be reduced by the number of shares purchased from ExxonMobil, Imperial’s majority shareholder, as [Read more]
Saudi Arabia’s crude exports rise to 6.166 mln bpd in April
Saudi Arabia's crude oil exports in April rose to 6.166 million barrels per day (bpd) from 5.754 million bpd in March, official data showed on Monday. The world's largest oil exporter's crude output for April was at 9.005 million bpd, up from 8.957 million bpd in March. Saudi refineries' crude throughput was at 2.704 million bpd in April, down 0.24 million bpd from March's 2.944 million bpd, the data showed. Direct crude burning decreased by 6,000 bpd to 377,000 bpd in April. Saudi [Read more]
Kiwetinohk announces formal business strategy review
CALGARY, AB, June 23, 2025 /CNW/ - Kiwetinohk Energy Corp. (TSX: KEC) ("Kiwetinohk" or the "Company") announces that it has launched a formal business strategy review to evaluate a range of potential value enhancing opportunities with a focus on the Company's upstream assets and an orderly exit from its power business. There can be no assurance that this process will result in any transaction or other strategic outcome. Kiwetinohk does not intend to disclose further developments [Read more]
Iran’s supreme leader asks Putin to do more after US strikes
Iran's supreme leader sent his foreign minister to Moscow on Monday to ask President Vladimir Putin for more help from Russia after the biggest U.S. military action against the Islamic Republic since the 1979 revolution over the weekend. U.S. President Donald Trump and Israel have publicly speculated about killing Supreme Leader Ayatollah Ali Khamenei and about regime change, a step Russia fears could sink the Middle East into the abyss. While Putin has condemned the Israeli strikes, he [Read more]
Any Iranian closure of Hormuz Strait would be ‘extremely dangerous’, EU’s top diplomat says
An Iranian closure of the Strait of Hormuz would be dangerous and "not good for anybody", the European Union's top diplomat said on Monday. "The concerns of retaliation and this war escalating are huge, especially closing of the Strait of Hormuz by Iran is something that would be extremely dangerous and not good for anybody," Kaja Kallas told reporters ahead of a meeting with EU foreign ministers. Iran's Press TV reported on Sunday that Iran's Supreme National Security Council needed to [Read more]
Goldman Sachs warns of oil price surge on Strait of Hormuz risks
Goldman Sachs flagged risks to global energy supply amid concerns over a potential disruption in the Strait of Hormuz that would lead to significant spikes in oil and natural gas prices, the bank said in a note dated Sunday. The bank estimated Brent crude could briefly peak at $110 per barrel if oil flows through the critical waterway were halved for a month and remained down by 10% for the following 11 months. Prices would then moderate, with Brent averaging around $95 per barrel in the [Read more]
Oil hits five-month high after US hits key Iranian nuclear sites
Oil prices jumped on Monday to their highest since January as Washington's weekend move to join Israel in attacking Iran's nuclear facilities stoked supply worries. Brent crude futures rose $1.88 or 2.44% at $78.89 a barrel as of 1122 GMT. U.S. West Texas Intermediate crude advanced $1.87 or 2.53% at $75.71. Both contracts jumped by more than 3% earlier in the session to $81.40 and $78.40, respectively, five-month highs, before giving up some gains. The rise in prices came after U.S. [Read more]
US strikes on Iran leave hopes for nuclear diplomacy in tatters
In a bid to defuse the conflict over Iran's nuclear program, foreign ministers from Europe's top three powers hurried to meet their Iranian counterpart on Friday in Geneva. Those hopes collapsed on Saturday when U.S. President Donald Trump ordered airstrikes on Iran's three main nuclear sites, in support of Israel's military campaign. "It's irrelevant to ask Iran to return to diplomacy," Iran's foreign minister Abbas Araqchi, visibly angry, told reporters in Istanbul on Sunday, promising a [Read more]
LNG Canada produces first liquefied natural gas for export, sources say
The Shell-led LNG Canada project has produced the first liquefied natural gas for export from its facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Sunday. "At 4 a.m. local time LNG Canada started producing its first LNG," one of the sources told Reuters. The facility is the first large-scale Canadian LNG project to begin production and also the first major facility in North America with direct access to the Pacific coast, [Read more]
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