Iran navy seizes tanker near Oman that was on way to Houston
Iran’s navy seized a Marshall Islands-flagged oil tanker in the Gulf of Oman on Thursday heading to the U.S. amid wider tensions over Tehran’s nuclear program, the latest-such capture in a waterway crucial for global energy supplies.
The U.S. Navy’s Mideast-based 5th Fleet identified the vessel as the Advantage Sweet. Satellite tracking data for the vessel from MarineTraffic.com showed it in the Gulf of Oman, just north of Oman’s capital, Muscat, on Thursday afternoon. It had just come from Kuwait and listed its destination as Houston.
TotalEnergies sells Canadian operations to Suncor in deal worth up to $6.1 billion
French company TotalEnergies says it has signed a deal to sell its Canadian operations to Suncor Energy Inc. in an agreement worth up to $6.1 billion.
Under the deal, Suncor will pay $5.5 billion in cash, plus up to an additional $600 million that is conditional on Western Canadian Select benchmark oil pricing and certain production targets.
Precision Drilling reports $95.8M Q1 profit, revenue up nearly 60% from year ago
Precision Drilling Corp. reported a first-quarter profit compared with a loss a year ago as its revenue rose nearly 60 per cent, helped by stronger drilling activity and price increases in the U.S. and Canada.
Cenovus reports new CEO, Q1 profit down, lowers production guidance and raises dividend
CALGARY– Cenovus Energy Inc., Saskatchewan’s largest oil producer with significant operations in the Lloydminste rarea, delivered upstream production in the first quarter of 779,000 barrels of oil equivalent per day (BOE/d)1 and downstream throughput of 457,900 barrels per day (bbls/d). The company generated $1.4 billion in adjusted funds flow and cash used in operating activities was $286 million. First-quarter results reflect lower commodity prices, reduced production in the upstream business and lower operating throughput in the downstream compared with the fourth quarter. Consistent with Cenovus’s commitment to shareholders, the Board of Directors approved a 33% increase in the company’s base dividend, to $0.56 per share annually starting in the second quarter of 2023.
Trudeau speaks of supplying natural gas to Germany, despite his government killing Energie Saguenay. And he wants to build lots of nuclear, too
OTTAWA - Prime Minister Justin Trudeau wants Canada to produce some of the last barrels of oil to be used, but it should be processed into petrochemicals, not burned. That was part of his response to a student asking about shipping LNG to Canada. His answer...
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