Group of Seven leaders have a draft joint statement calling for deescalation of the Israel-Iran conflict, according to two sources and a draft seen by Reuters. U.S. President Donald Trump has not signed off on the draft however, the sources said. The draft commits to safeguarding market stability, including energy markets, and says Israel has the right to defend itself. The White House did not immediately respond to a request for comment. (Reporting by Jarrett Renshaw and David [Read more]
Headlines
MEG Energy’s board urges shareholders to reject Strathcona’s C$6 billion offer
Canadian oil producer MEG Energy on Monday urged its shareholders to reject a nearly C$6 billion ($4.42 billion) hostile takeover offer from Strathcona Resources, calling the bid inadequate and not in their best interest. The board also launched a strategic review to explore alternatives that could lead to a better offer than MEG's current plan to be a standalone company. In May, the Canadian oil and gas producer Strathcona Resources said it planned to launch a hostile takeover bid for MEG [Read more]
Source Rock Royalties declares monthly dividend
CALGARY, AB, June 16, 2025 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on July 15, 2025 to shareholders of record on June 30, 2025. This dividend is designated as an "eligible dividend" for Canadian income tax purposes. About Source Rock Royalties Ltd. Source Rock is [Read more]
MEG Energy’s Board Recommends Shareholders Reject the Strathcona Offer and NOT TENDER Their Shares
Offer's share consideration exposes shareholders to a company with inferior assets Selling by WEF and its investors to provide liquidity will put downward pressure on the share price MEG is a uniquely attractive investment opportunity that warrants a premium valuation MEG has initiated a strategic review of alternatives with the potential to surface an offer superior to the Company's compelling standalone plan CALGARY, AB, June 16, 2025 /CNW/ - MEG Energy Corp. (TSX: MEG) ("MEG", or [Read more]
Surge Energy Inc. confirms July 2025 dividend
CALGARY, AB, June 16, 2025 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) confirms that a cash dividend to be paid on July 15, 2025, in respect of June 2025 production, for the shareholders of record on June 30, 2025, will be $0.043333 per share. The dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). Surge is an intermediate, publicly traded oil company focused on enhancing shareholder returns through free cash flow generation. The [Read more]
International Petroleum Corporation Announces Results of Normal Course Issuer Bid
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 122,427 IPC common shares (ISIN: CA46016U1084) during the period of June 9 to 13, 2025 under IPC’s normal course issuer bid / share repurchase program (NCIB). IPC’s NCIB, announced on December 3, 2024, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 [Read more]
Oil and gas important in times of conflict, Saudi Aramco CEO says
The importance of oil and gas can't be underestimated at times when conflicts occur, something that was currently being seen, the head of Saudi oil giant Aramco told an energy conference on Monday. Aramco CEO Amin Nasser delivered his speech to the Energy Asia Conference in Kuala Lumpur by a video link. Oil prices jumped last week after Israel launched strikes against Iran on Friday that it said were to prevent Tehran from building an atomic weapon. The fighting intensified over the [Read more]
G7 needs to raise pressure on Russia, von der Leyen says
More pressure must be exerted on Russia to secure a ceasefire in Ukraine urging the G7 nations to ramp up sanctions to achieve that goal, European Commission President Ursula von der Leyen said on Sunday. Leaders of the world's largest industrial nations are meeting in Canada's Rockies with European countries seeking to keep the war in Ukraine firmly on the mind of U.S. President Donald Trump despite fighting breaking out between Israel and Iran in the Middle East. With diplomacy at a [Read more]
Australia’s Santos receives $18.7 billion takeover bid from ADNOC-led consortium
Australian oil and gas producer Santos said on Monday it intended to support an $18.7 billion takeover bid from an international consortium led by Abu Dhabi's National Oil Company (ADNOC). ADNOC, through its investment arm XRG, with Abu Dhabi Development Holding Company (ADQ) and private equity firm Carlyle has offered $5.76 (A$8.89) per Santos share, which was a 28% premium to the Australian company's close on Friday. The takeover bid emerged as oil prices reached multi-week highs as Israel [Read more]
Oil prices climb as Israel-Iran conflict heightens supply disruption fears
Oil prices climbed in early Asian trade on Monday after Israel and Iran launched fresh attacks on Sunday, heightening fears that escalating battle could trigger a broader regional conflict and widely disrupt oil exports from the Middle East. Brent crude futures were up $1.70, or 2.3%, to $75.93 a barrel by 2253 GMT, while U.S. West Texas Intermediate crude futures gained $1.62, or 2.2%, to $74.60. They had surged more than $4 earlier in the session. Both benchmarks settled 7% higher on Friday, [Read more]
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