CALGARY - Analysts at CIBC World Markets say the timeline the Alberta government set out for construction to begin on a potential new West Coast oil pipeline reflects a best-case scenario. The province aims to submit a proposal to the federal major projects office by July 1, have it designated a project of national interest by Oct. 1 and have shovels in the ground as early as Sept. 1, 2027. The Alberta government laid out those targets after it and Ottawa finalized one of the last [Read more]
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Some of the biggest power companies in US
Major U.S. power company NextEra Energy announced a plan to acquire Dominion Energy in a $66.8 billion deal that would create one of the world's largest electric utilities. The combined company would have an enterprise value of roughly $420 billion, making it the third-biggest American energy company behind oil majors Exxon and Chevron but bigger than the next two largest U.S. power companies combined. The deal underscores how utility companies now need larger balance sheets, broader [Read more]
ConocoPhillips expects Qatar gas JVs delays of months, not years
Any delays to increasing liquefied natural gas production capacity at ConocoPhillips' joint ventures with Qatar are likely to be months, not years, its Europe Gas head said. The U.S. energy group is a partner in QatarEnergy's main LNG project, which includes offshore facilities in the North Field and onshore facilities at Ras Laffan, which was damaged by strikes on March 19, several weeks after the Iran war began. QatarEnergy signalled that its gas supply to China, South Korea, Belgium and [Read more]
New West Data Signs Letter of Intent to Acquire Significant Oil and Gas Assets Near Rocky Mountain House, Alberta
Proposed transaction expected to more than triple production to 4,500 BOE/d and more than double self-powered off-grid compute capacity to 35 MW Company plans to expand off-grid compute beyond bitcoin mining into high-density HPC and AI CALGARY, Alberta, May 19, 2026 (GLOBE NEWSWIRE) -- New West Data Corp. (“New West Data”), North America’s first vertically integrated oil and gas producer and off-grid digital infrastructure operator, today announced that it has signed a Letter of Intent [Read more]
Putin says Russia, China ready to back each other on issues such as protecting sovereignty
Russia and China are ready to support each other on a wide range of issues, including national unity and protection of sovereignty, President Vladimir Putin said in a video address ahead of a visit to China starting on Tuesday. Relations between Russia and China have reached an 'unprecedented level' of mutual understanding and trust, Putin said as he prepared to meet Chinese President Xi Jinping for talks on Wednesday. The countries are ready to cooperate on mutually beneficial and [Read more]
US Senate confirms Trump’s pick to lead land bureau
The U.S. Senate voted on Monday to confirm Steve Pearce, a former oilman and congressman from New Mexico, to lead the Bureau of Land Management. * Pearce was one of 49 nominees for federal positions that were confirmed in one Senate bloc vote of 46-43. * The BLM, a division of the Interior Department, manages more than a tenth of the nation's surface area. * Pearce is the former owner of an oilfield services company and supports President Donald Trump's goal to increase fossil fuel [Read more]
Record oil draw from US emergency reserve drives total volumes to two-year low
A record 9.9 million barrels of oil were shipped out from the U.S. Strategic Petroleum Reserve last week, data from the Department of Energy showed on Monday, pushing the total volumes in the U.S. government's emergency stash to about 374 million barrels, its lowest since July 2024. The Trump administration is seeking a release of 172 million barrels from the reserve as part of a global agreement to calm oil markets as prices spiked over the U.S.-Israeli war with Iran that began nearly three [Read more]
Venezuela oil officials set to make rare appearance at Houston area energy conference
Venezuela's new oil minister, Paula Henao, and a senior leader of state oil company PDVSA, E&P Vice President Jovanny Martinez, are scheduled to speak on Tuesday at an oil exploration summit being held outside Houston by the American Association of Petroleum Geologists. The speeches will mark the first visit to the U.S. by senior oil officials from the South American country since President Nicolas Maduro was ousted in January by American military forces. Since then, U.S. President Donald [Read more]
BP fails to reach deal with union as Indiana refinery lockout drags on
BP and union leaders resumed labor contract negotiations for workers at the Whiting, Indiana, oil refinery on Monday with no agreement yet, as a lockout entered its third month this week. Some 800 workers at the 440,000-barrel-per-day refinery, the largest in the U.S. Midwest, have been locked out since March 19 after months of negotiations failed to produce a new labor contract. "During today's meeting, the USW again requested that BP Whiting refinery lift the lockout, but were still [Read more]
Opaque oil deals around Hormuz test the petrodollar: Bousso
The U.S. dollar-dominated global oil trading system is being tested by the Iran war and the closure of the Strait of Hormuz, as governments in major consuming nations turn to increasingly opaque deals with Tehran and Gulf producers to secure supplies. Since the outbreak of the war on February 28, roughly a fifth of global oil supplies from the Gulf have been disrupted, dealing a tough blow to economies, particularly in Asia, which depends on the Middle East for about 60% of its imports. With the [Read more]
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