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Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Hamad I Mohammed | Reuters Saudi Aramco’s first-quarter net profit fell 5% year-on-year amid lower oil prices and production. Net income for the three months to March 31 came in…
Canada’s energy CEOs are calling on Prime Minister Mark Carney to scrap the emissions cap on oil and gas producers and repeal industrial carbon pricing to help bolster the industry. Thirty-eight CEOs of Canadian energy companies signed a letter congratulating Carney on his election win and pitching policy measures they say would help the prime…
Chevron, Colorado’s largest oil and gas producer, plans to lay off about 125 employees in its Denver office starting July 1 as part of an effort to cut costs companywide. The company said in a letter to the Colorado Department of Labor and Employment that the job cuts would be permanent and that the employees…
Precision Drilling is trimming its planned 2025 capital spending due to market uncertainty and a possible dip in demand from the oil and gas producers that contract its rigs. Chief executive Kevin Neveu says Precision expects to spend $200 million this year, a reduction of $25 million from its earlier forecast. That includes an $8-million…
An oil pumpjack is seen in a field on April 08, 2025 in Nolan, Texas. Brandon Bell | Getty Images News | Getty Images Just as many mission-driven fund managers have reconsidered their defense policy in the wake of Russia’s full-scale invasion of Ukraine, an analyst at Goldman Sachs says it is now time for…
Nicolai Tangen, CEO of Norges Bank Investment Management, addresses a press conference on his company’s annual results for 2024 at Norges Bank in Oslo, Norway, on January 29, 2025. Ole Berg-rusten | Afp | Getty Images Norway’s government is under growing pressure to let the country’s $1.8 trillion sovereign wealth fund invest in certain defense…
The Greenpeace logo on the green ecological awareness stand of the association in Lyon, France, on Oct. 23, 2024. Elsa Biyick | Afp | Getty Images A jury on Wednesday ordered environmental campaign group Greenpeace to pay more than $660 million in damages to Texas-based oil company Energy Transfer, the developer of the Dakota Access…
By Staff The Canadian Press Posted March 19, 2025 2:12 pm 1 min read Descrease article font size Increase article font size Alberta Premier Danielle Smith says plans for cleaning up abandoned or inactive oil wells are to be made public in two weeks. She says public funding won’t be needed for the new initiatives,…
Parkland Corp. has named two new independent directors as an activist investor calls for an overhaul of its board. The Calgary-based fuel refiner and retailer, which is considering putting itself up for sale, has named Felipe Bayon and Sue Gove to its board of directors, effective Tuesday. With the latest additions, Parkland said it has…
Whitecap Resources Inc. and Veren Inc. are joining forces in a $15-billion dollar deal to create a major Canadian shale player that they say will stand stronger against political and market upheaval than if they were to each go it alone. “The pro forma company will be more resilient and better able to manage the…
