CALGARY - The chief executive of a U.S.-based carbon capture startup embarking on a project in Alberta's oilsands says Canada ticks a lot of the boxes needed to bring the emissions-reducing technology into widespread use. "Alberta specifically is a really great confluence of all the right factors coming together to give Canada a chance to lead in this ecosystem," said Cameron Halliday, co-founder of Cambridge, Mass.-based Mantel Capture. "You've got the policy support. You've got the [Read more]
Headlines
Oil up on news the US intercepted an oil tanker off Venezuela
Oil prices rose on Monday after officials said the U.S. had intercepted an oil tanker in international waters off the coast of Venezuela, raising fresh supply uncertainty. Brent crude futures rose 46 cents, or 0.8%, to $60.93 per barrel by 0400 GMT, while U.S. West Texas Intermediate crude climbed 46 cents, or 0.8%, to $56.98. "The market is waking up to the fact that the Trump administration is taking a hardline approach to the Venezuelan oil trade," said June Goh, senior oil market [Read more]
Australia forces LNG exporters to keep a minimum amount for home market
Australia will make exporters of liquefied natural gas from the country's east coast keep up to a quarter of their output for domestic use from 2027, under a scheme unveiled on Monday to curb price spikes and help fill a long-forecast supply gap. The centre-left government of Prime Minister Anthony Albanese said it would work with exporters to design a system that puts a lower limit on the amount of gas held domestically, with a minimum local allocation of between 15% and 25%. The [Read more]
Venezuelan government rejects seizure of new vessel transporting oil
The Venezuelan government rejected the seizure of a new vessel transporting oil, it said in a statement on Saturday, describing it as a "serious act of international piracy," after the United States seized another tanker near the coast of the South American country. Venezuela "denounces and rejects the theft and hijacking of a new private vessel transporting oil, as well as the forced disappearance of its crew, committed by military personnel of the United States of America in international [Read more]
US seizes vessel off Venezuelan coast, officials say
The United States is interdicting and seizing a vessel off the coast of Venezuela in international waters, three U.S. officials told Reuters on Saturday, a move that comes just days after U.S. President Donald Trump announced a "blockade" of all sanctioned oil tankers entering and leaving Venezuela. This would mark the second time in recent weeks that the United States has seized a tanker near Venezuela and comes amid a large U.S. military build-up in the region. The officials, who were [Read more]
Baytex Closes U.S. Eagle Ford Sale
Calgary, Alberta--(Newsfile Corp. - December 19, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") today announced that it has closed the sale of its U.S. Eagle Ford Assets for net proceeds of US$2.14 billion (approximately $2.96 billion in Canadian dollars) after closing adjustments. This strategic divestiture significantly strengthens Baytex's financial position and sharpens its focus on a high-return Canadian energy platform, positioning the Company for [Read more]
Greenfire Resources Announces Closing of Rights Offering and Refinancing Initiatives
Calgary, Alberta--(Newsfile Corp. - December 19, 2025) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company") is pleased to announce the successful completion of its previously announced refinancing initiatives (the "Refinancing Initiatives"). The Refinancing Initiatives included a C$300.0 million offering of rights (the "Rights") to all eligible Greenfire shareholders to purchase additional common shares of the Company (the "Common Shares") which expired at 4:00 p.m. [Read more]
Dakota Access pipeline should continue operating, US Army Corps of Engineers says
The U.S. Army Corps of Engineers on Friday released a long-anticipated Environmental Impact Statement for the Dakota Access Pipeline (DAPL), recommending that operations of the oil pipeline continue with some conditions. The EIS, a document required by U.S. law to evaluate the environmental effects of major federal actions, is a win for DAPL operator Energy Transfer and a step closer to the end of a lengthy court battle between the company and nearby Native American tribes, who have been [Read more]
US drillers cut oil and gas rigs for second week in a row, says Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since August, 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, fell by six to 542 in the week to December 19, the lowest since September. Baker Hughes said oil rigs fell by eight to 406 this week, their lowest since September 2021, while gas rigs held at 127 and [Read more]
North Dakota rig count, frac crew count falls, state regulator says
(Adds quote from state regulator in paragraphs 3-4) HOUSTON, Dec 19 (Reuters) - The number of active rigs and hydraulic fracturing crews has fallen in North Dakota, according to the state's Department of Mineral Resources on Friday. North Dakota currently has 27 active rigs, down from 28 in November, while seven hydraulic fracturing crews are operating in the state, down from 10 last month. Companies have decreased activity owing to end of year budgetary reasons as well as a softer oil [Read more]
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