This article is sponsored content, written and paid for by the advertiser. We do not endorse or take responsibility for the accuracy of the information presented. It has not been reviewed by our editorial team, and the opinions expressed are solely those of the sponsor. ConocoPhillips is a rare example of an operator active in the Montney (at Inga in NE BC) as well as several major US plays (the Eagle Ford, Bakken and Permian (both Delaware and Midland sub-basins)). ConocoPhillips’ [Read more]
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Trump says Iran has agreed to not have a nuclear weapon
U.S. President Donald Trump said Iran has agreed not to have a nuclear weapon and that he would probably meet with Supreme Leader Mojtaba Khameneiat some point if things "work out". "They've already agreed they're not going to have a nuclear weapon," Trump told "Pod Force One" in an interview broadcast on Wednesday, while speaking about Iran. Asked about Khamenei's involvement in talks with the U.S. on ending hostilities, Trump said, "He's involved, absolutely.... I think they have a lot [Read more]
Oil demand will spike after war to replenish stocks, ADNOC executive says
There will be a spike in oil demand to replenish storage levels after the current global oil supply crisis in overcome, ADNOC senior vice president of business transformation Fatema Bin Saleem Al Teneiji said on Tuesday. Oil demand will then start to pick up as oil prices normalise, she said at the S&P Global Energy Middle East Petroleum and Gas Conference in London. (Reporting by Robert Harvey in London, Editing by Louise Heavens) [Read more]
Kuwait could recover 70% of oil production in 6-8 weeks after Hormuz reopens, KPC executive says
Kuwait could restore nearly 70% of its oil production within six to eight weeks after the Strait of Hormuz reopens, Kuwait Petroleum Company's managing director for international marketing, Shaikh Khaled Ahmad Al-Sabah, said on Wednesday. The remaining 30% would take about another month, he told the S&P Global Energy Middle East Petroleum and Gas Conference. Kuwait's timeline for its production recovery is shorter than some forecasts for a full reopening of transits through the Strait [Read more]
Oil refining has been underinvested, Saudi Aramco says
The current oil supply crisis shows there is underinvestment in oil refining as demand holds resilient, Saudi state-owned Aramco's vice president of market analysis and sustainability, Musaab Al Mulla, said on Tuesday. Around 3 million barrels per day of refining capacity closed between 2020 and 2023, Al Mulla said at the S&P Global Energy Middle East Petroleum and Gas Conference in London. "Now we realise if you have those refineries you may have definitely mitigated the impacts of [Read more]
Norway oil, gas output could initially fall by 1% in case of strike, industry says
Norway's oil and gas output could initially fall by about 45,500 barrels of oil equivalent per day from Friday if workers go on strike, equivalent to just over 1% of the country's output, industry group Offshore Norway said on Wednesday. Nearly 8% of Norwegian offshore oil and gas workers plan to strike from June 5 if state-brokered wage mediation fails in the coming days, with the option to escalate the action over time, three labour unions have said. Norway produces more than 4 million [Read more]
Indigenous participation, engagement key to economic growth in Canada, report says
A new report says boosting economic relations with Indigenous partners and incorporating their world views in business decision-making can help position Canada for a more resilient economic future. The report, published Wednesday by Deloitte's Future of Canada Centre, explores how sovereign Indigenous economic partnerships are among Canada's most underleveraged growth opportunities. "As Canada grapples and comes to terms with a very challenging economic and global restructuring, Indigenous [Read more]
Oil prices rise as new Middle East hostilities flare and talks stall
Oil prices climbed more than 1% in early trade on Wednesday as hostilities in the Middle East erupted anew with Iran firing missiles at Kuwait and Bahrain, while diplomatic talks between Iran and the United States showed little progress. Brent futures rose $1.05, or 1.09%, at $97.05 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.01, or 1.08%, to settle at $94.77. Both benchmarks settled at a one-week high in the previous session. Iran launched ballistic missiles toward [Read more]
Highwood Asset Management Ltd. announces sale of Wilson Creek assets
/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/ CALGARY, AB, June 2, 2026 /CNW/ - Highwood Asset Management Ltd. ("Highwood" or the "Company") (TSXV: HAM) is pleased to announce it has entered into a definitive asset purchase and sale agreement (the "Agreement") to sell its Wilson Creek assets (the "Assets") to Obsidian Energy Ltd. ("Obsidian Energy") for up to $112 million (the "Transaction"). Under the terms of the Agreement, Obsidian Energy will acquire [Read more]
Obsidian Energy Announces Strategic Belly River Acquisition
Calgary, Alberta--(Newsfile Corp. - June 2, 2026) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announced today the acquisition of high-return Belly River light oil assets in the Wilson Creek area of Willesden Green (the "Acquisition"), consolidating the Company's position as the largest Belly River producer and deepening our core light oil development platform. The transaction is immediately accretive to funds flow from operations [Read more]
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