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World Oil News
Canada has launched a $25 billion sovereign wealth fund to support energy, LNG and infrastructure projects, signaling increased federal backing for oil and gas development and export capacity. Source
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Two offshore wind leases have been scrapped as developers redirect nearly $900 million into U.S. oil, gas and LNG projects, signaling a policy-driven shift toward conventional energy investment. Source
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The U.S. is pushing back on Iran’s proposed terms to reopen the Strait of Hormuz, with Secretary of State Marco Rubio warning Washington cannot accept Tehran controlling access to the key oil chokepoint. Source
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Siemens Energy and TCS have expanded their partnership to deploy AI-driven solutions across energy operations, industrial systems and data center infrastructure to improve efficiency and reliability. Source
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ADNOC Logistics & Services has taken delivery of its sixth LNG carrier, expanding its fleet capacity to support global gas supply and long-term shipping contracts. Source
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Halliburton has been awarded a contract for Greenland Energy’s 2026 Arctic drilling campaign, advancing exploration in the frontier Jameson Land basin. Source
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Shell has agreed to acquire ARC Resources in a $13.6-billion deal, adding Montney shale production and strengthening its oil and gas portfolio in Canada. Source
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Shell has agreed to acquire ARC Resources in a $13.6-billion deal, adding Montney shale production and strengthening its oil and gas portfolio in Canada. Source
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GeoPark reported higher oil and gas production in first-quarter 2026, supported by Colombia operations, while initiating drilling activity in Argentina’s Vaca Muerta shale play to drive future growth. Source
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A nearly 1-billion-barrel supply loss tied to the Hormuz disruption is pushing oil markets toward a turning point, with traders warning demand destruction is set to accelerate globally. Source
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