Indonesian forces save 18 Freeport workers in Papua from rebels
Officials said that the Indonesian military rescued on Thursday 18 workers from Freeport Indonesia, a gold and copper mining company. The workers had been surrounded for three days by armed rebels at a Freeport Indonesia outpost located in Papua's insurgency-plagued region. Free Papua Movement, a rebel?group, says that it fights for the secession of a region from Indonesia.
Globe and Mail reports that Canadian Natural is in negotiations to purchase Tourmaline's Natgas portfolio.
Canadian Natural Resources has entered into negotiations to buy a portfolio of natural gas properties worth more than $1 billion from Tourmaline Oil Corp., the Globe and Mail reported Wednesday. The report cited two sources who are familiar with these negotiations. On the website of Competition Bureau Canada, it is stated that Canadian Natural filed paperwork for approval of a deal with Tourmaline?on?December 30.
Glencore's share price rises as Rio Tinto and Glencore merge to create the world's largest miner
Glencore shares increased by almost 10% after news that it was in talks with Rio Tinto regarding a possible takeover. This would create the largest mining group in the world, valued at nearly $207 billion. While Glencore?gained?, Rio Tinto?shares fell as much as 3%. This reflects investor scepticism and concern that the deal will be overpaid. Both companies have previously discussed merging their operations.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb most of the approximately 1 million barrels of crude oil per day if U.S. Sanctions on Venezuela are lifted. According to a report on Tuesday, the U.S. has been in talks with Venezuela about exporting crude oil from the South American country to the United States. Sources say that U.S. oil executives will visit the White House Thursday to discuss Venezuela.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb the majority of the approximately 1 million barrels of crude oil per day that would be traded freely if the sanctions were lifted. The sanctions against the South American nation are lifted. Canadian oil companies, who sell heavy crude similar to that of Venezuela, and small Chinese refiners would suffer higher costs, if Venezuelan crude was diverted to the U.S. The U.S.
Ministry says that the technical problem at Iraq's Khor Mor Gas Field is causing a drop in power supply to Kurdistan.
The Kurdish Ministry of Electricity announced on Thursday that the electricity supply in Kurdistan had dropped by 1,000 megawatts because of a "technical problem" at the Khor Mor gas fields, one of the largest in the Kurdish Region. The ministry of electricity stated that the Ministry of Natural Resources and the UAE's Dana Gas team, who?jointly operated the field?, are working to restore stability.
Suncor trims budget and projects increased oil and gas production in 2026
Suncor Energy forecast lower spending for 2026, despite increased oil and gas production. The company will tighten?costs, and increase shareholder returns through an expanded buyback plan. Suncor's outlook is similar to that of Canadian Natural Resources, Cenovus Energy and other oil sands producers in Canada. After years of investment, Canada's oil…
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations will ensure that the output of America's most prolific patch of oil will remain stable for many years. In its latest Short-Term Energy Outlook, the U.S.
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations mean that output in America's largest oil patch will remain stable for many years. In its latest Short-Term Energy Outlook, the U.S.
Canada's new oil tycoon is shaking up the sector with a bold expansion plan
Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company's status as one of ?North America's fastest-growing oil companies. Waterous wants to expand the company more aggressively and more efficiently than its competitors after Strathcona Resources' hostile bid for MEG Energy was unsuccessful.
After drone attack, operations at major Iraqi gas fields are suspended
Field engineers reported on Wednesday that a drone attack caused the suspension of operations in the Khor Mor Gas field, which is one of the largest fields of gas in Iraqi Kurdistan. The Natural Resources and Electricity Ministries said in a statement that all gas supplies to power plants in Kurdistan were stopped following the attack. Security sources reported that the attack on field storage tanks started a fire…
Environmentalists sue Gulf of Mexico Oil Auction to Stop it
On Tuesday, environmental groups sued the Trump Administration for its decision to proceed with the planned December 10, offshore oil and natural gas lease sale that covered 80 million acres (32 millions hectares) of the Gulf of Mexico. Why it's Important The lawsuit filed in U.S. District Court for the District of Columbia challenges a large sale…
Can West Virginia be green when Trump supports coal mining?
He is a member of Economic Development Greater East, an initiative that promotes projects in a region devastated by the decline in coal production. He said he was a fourth-generation coal miner who had moved from one mining job to another in the past. He met EDGE's founder Jason Tart when he returned to Berwind and with their support, he opened a chicken business.
Canadian Natural Resources anticipates higher production and lower expenditure in 2026
Canadian Natural Resources forecast on Friday a modest increase in production by 2026, while reducing total capital expenditures from the levels of this year. This signals a continued focus and disciplined growth. Canada's oil producers have fared better than their global counterparts during the oil slump, thanks to years of investment. They are now among the lowest-cost producers in North America.
Canadian Natural Resources barely beats estimates for quarterly profits on record production
Canadian Natural Resources posted earnings for the quarter that were just a hair above analysts' expectations. Record oil and gas production offset the decline in crude price. Canadian Natural Resources and other oil sands producers in Canada have shown resilience in the face of the downturn in the global oil industry. They have been buoyed by their years of investment…
INTERVIEW-Iraq's prime minister: Iraq can only disarm its factions when the US leaves.
Iraq has promised to put all weapons under state control, but this will not happen as long as a U.S. led coalition is in the country, which some Iraqi factions see as an occupier force, said the prime minister on Monday. The Prime Minister Mohammed Shia al-Sudani stated that a plan is still in place for the multinational anti-Islamic State Coalition to leave Iraq by September 2026, as it was one of Iran’s closest Arab Allies.
INTERVIEW-Iraq's prime minister: Iraq can only disarm its factions when the US leaves.
Iraq has promised to put all weapons under state control, but this will not happen as long as a U.S. led coalition is in the country, which some Iraqi factions see as an occupier force, said the prime minister on Monday. The Prime Minister Mohammed Shia al-Sudani stated that a plan is still in place for the multinational anti-Islamic State Coalition to leave Iraq by September 2026, as it was one of Iran’s closest Arab Allies.
US upstream oil and natural gas dealmaking falls for the third consecutive quarter amid low prices
Enverus, an analytics firm, said that the persistently low oil price kept buyers away from the sector during the third quarter. According to Enverus's latest report, merger and acquisition activity is down for the third consecutive quarter. This marks a dramatic departure from the blockbuster deals of recent years, such as Exxon Mobil's $60 billion deal with Pioneer Natural Resources…
Eni will launch a joint venture with Petronas Gas in 2026
Guido Brusco said that Eni's gas joint venture will be up and running by the end of next year. He is the chief operating officer for global natural resources at Eni. Both companies announced in January that they would be moving forward with the project of developing gas assets in Malaysia, Indonesia and other countries. Petronas said it could take up to two years for regulatory approval, but the exact timeline was unclear.
Iraqi Oil Flows to Turkey After Brief Halt
Crude oil exports from Iraq's Kurdistan region to Turkey's Ceyhan port resumed on Friday, after a temporary halt due to "technical issues", the region's ministry of natural resources said in a statement.The exports had earlier been suspended because storage tanks reached capacity, two energy sources with direct knowledge of the matter told Reuters.One of the sources said flows stopped at around 1 a.m.