Corporate & Deals

TotalEnergies reported third-quarter adjusted net income of $9.1 billion, up 127% from a year earlier and above the $8.3 billion consensus. Refining and chemicals delivered a record $3.6 billion as margins hit $33.20 per barrel and throughput rose nearly 10%. The company reiterated $2.5 billion in share buybacks for Q4 and added another $2.5 billion for Q1 2027. Read →

TotalEnergies acquired a 25% working interest in 26 Chevron-operated exploration leases in the US Gulf, including 24 blocks in Green Canyon and two in Walker Ridge. Chevron took a 75% operated interest in two adjacent leases from TotalEnergies. The deal expands the companies' joint portfolio and complements TotalEnergies' existing stakes in producing assets such as Ballymore and Anchor. Read →

Shell reported $10.81 billion third-quarter net profit, its highest since 2022 and above analyst estimates of $10.33 billion. Record refining margins of $42 per barrel and stronger LNG prices drove the result, prompting a hike in fourth-quarter share buybacks to $5 billion from $3 billion previously. Read →

HF Sinclair reported a record quarterly adjusted profit of $11.75 per share, beating estimates of $7.65, with refining-segment profit quadrupling to $2.43 billion on margins of $54.22 per barrel. The company named Steve Ledbetter as its next CEO effective January 1 amid sustained refining constraints expected through 2028. Read →

Phillips 66 posted record net income of $5.62 billion and adjusted earnings of $14.08 per share, beating estimates, with refining earnings surging to $6.06 billion on realized margins of $38 per barrel. Supply disruptions from wars in Iran and Ukraine tightened global fuel markets and boosted diesel and gasoline cracks. Read →

TotalEnergies reported a 127% year-on-year rise in third-quarter earnings to an adjusted $9.1 billion, beating estimates, on historically high refining margins and favorable natural-gas markets. The company plans $2.5 billion in share buybacks for each of the next two quarters and raised its interim dividend. Read →

Rio Tinto's board proposed raising CEO Simon Trott's target remuneration package by 56% to £9.8 million ($13.06 million) to retain talent in a competitive mining sector, according to people familiar with the matter and documents reviewed by Reuters. Read →

Equinor reported adjusted earnings before tax of $12.4 billion for Q3, double the year-ago level and above consensus, on higher realized oil and European gas prices amid Middle East disruptions. Equity production rose 2% to 2.166 million boe/d, prompting the company to lift its full-year 2026 output growth target to around 4% from 3%. Strong downstream trading and refining margins further boosted results. Read →

Expand Energy posted adjusted EPS of $1.46, beating the $1.27 consensus, as Q3 natural gas production climbed to 7.54 bcfe/d and the company narrowed its full-year guidance to 7.45-7.55 bcfe/d. Rival EQT reported lower net income of $279 million amid weaker output and prices but highlighted its pending Range deal that would create output exceeding Expand's. U.S. producers continue benefiting from data-center and LNG demand despite soft prices. Read →

EQT will acquire Range Resources in an all-stock transaction valued at $13 billion equity, creating the largest US natural gas producer with pro forma output above 9 bcfe/d, nearly 3 million net acres and over 30 years of drilling inventory. Range shareholders receive 0.987 EQT shares per share, a 20.6% premium, with EQT owners retaining 73% of the combined entity. The deal targets $325 million annual synergies within two years and positions the firm for rising Appalachian demand from LNG exports and power generation. Read →

Ovintiv agreed to buy Canadian producer Logan Energy in an all-cash deal valued at about $890 million including debt, adding 266,000 net Montney acres and 20,000 boe/d production. The transaction brings 420 net drilling locations and is expected to generate $60 million in annual cost synergies while lifting 2027 cash flow per share by 5%. Closing is targeted for early first-quarter 2027 subject to approvals. Read →

Nucor reported third-quarter earnings of $5.80 per share, beating the $5.77 Bloomberg consensus, with net sales of $11.2 billion topping the $10.8 billion estimate. Net earnings attributable to shareholders reached $1.32 billion, more than double the year-ago $607 million, as higher steel prices and volumes drove gains in mills and products segments. The company guided fourth-quarter results in line with or modestly above Q3. Read →

Kinder Morgan reported record Q3 adjusted EBITDA of $2.18 billion, up 9% year-over-year, and adjusted EPS of $0.35, up 21%. The natural gas pipeline operator expanded its expansion project backlog to a record $14.4 billion, including the largest natural gas project backlog in company history at $13.2 billion, with $5.4 billion in new additions. Full-year adjusted EBITDA and EPS are now expected more than 6% and 13% above prior budget, respectively. Read →

Eni reported third-quarter adjusted net profit of €2.8 billion, more than double year-over-year, with pro forma adjusted EBIT at €6 billion. The company raised full-year 2026 cash flow from operations guidance to €16.5 billion and production growth to 6-7%, while declaring an extraordinary €0.46 per share dividend and increasing the share buyback program by 12% to €3.8 billion. Pro forma gearing fell to a record low 9%. Read →

Trafigura generated a record $2 billion profit from metals trading in its fiscal year ended September. Glencore posted some of its strongest metals-trading profits ever, though offset by a $480 million provision tied to iron-ore trader Radiant World. Mercuria is on track to match or exceed its prior-year metals profit above $300 million as volatility, tight copper concentrate and price swings drive a second consecutive blowout year for top trading houses. Read →

Welspun Corp’s US subsidiary secured an order worth 55 billion rupees ($580 million) to supply coated line pipes for a natural gas pipeline in the Permian Basin. The pipeline will serve a data-centre complex operated by a top-tier hyperscaler; deliveries are slated for fiscal 2029 from the company’s US facility. Welspun’s global order book reached a record $5.25 billion. Read →

CRH completed its $8.5 billion acquisition of Arcosa, a US provider of aggregates and infrastructure products. The deal adds 109 quarries and yards that shipped 35 million tons of aggregates in 2025 and expands CRH’s exposure to energy-transmission and data-centre projects. CRH will update full-year 2026 guidance with its Q3 results on October 29. Read →

Expand Energy (formerly Chesapeake) named Daniel E. “Danny” Brown president and CEO, effective October 26; he joins from Chord Energy and will also join the board. Interim CEO Michael A. Wichterich returns to non-executive chairman. Brown brings upstream and midstream experience from Anadarko and will lead North America’s largest natural-gas producer. Read →

Robin Energy agreed to acquire a 2015-built 5,000 cbm LPG carrier from AI OKTO CORP (controlled by its chairman/CEO) for $18 million in cash. The deal, approved by independent special committees, is expected to close in Q4 2026 and will bring the company’s fleet to three LPG carriers transporting petrochemical gases. Read →

Eni reported Q3 adjusted net profit of €2.8 billion, more than double the prior year, beating consensus. It will pay a €1.3 billion special dividend in December and raise its 2026 share buyback to €3.8 billion while lifting full-year cash flow guidance to €16.5 billion. Strong refining margins and higher oil and gas output drove the cash windfall for the Italian major. Read →

QatarEnergy is negotiating a long-term deal to purchase at least 3 million metric tons per year of LNG from Venture Global. The talks follow spot purchases to offset supply disruptions from the Iran conflict and Strait of Hormuz issues. A separate deal with Cheniere for 4 mtpa through 2054 was announced earlier. Read →

XRG, ADNOC's international investment arm, is in preliminary talks to buy a stake in Eni's Libya oil and gas operations, which produced 162,000 boe/d last year. The move supports XRG's goal to grow LNG capacity to 20-25 mtpa by 2035 amid Gulf geopolitical risks. Both companies declined to comment on speculation. Read →

Infineum, the 50:50 Shell-ExxonMobil lubricants and fuel additives joint venture, has tapped Bank of America to explore a sale targeting roughly $8 billion. The process is early-stage and may attract private equity interest. Shell is seeking to streamline non-core chemicals exposure. Read →

Dow posted Q3 adjusted EPS of 71 cents, beating estimates, with sales up 13% to $11.3 billion on higher polyethylene prices and cost cuts. It guided Q4 adjusted core profit above consensus at about $1.54 billion. The company is on track for over $1 billion in annual core profit gains in 2026 and 2027. Read →

Kinder Morgan approved its share of investments totaling $4.7 billion in the Southeast Connector (up to 2.6 Bcf/d, 470 miles) and Permian Link (2.8 Bcf/d, 434 miles) natural gas pipelines. The projects target demand from power generation, data centers and LNG exports, lifting the firm's backlog to $14.4 billion including a record $13.2 billion in gas projects with service targeted for 2030. Read →

Halliburton reported Q3 adjusted earnings of $0.60 per share, beating estimates, on revenue of $5.7 billion driven by international growth in Latin America and Europe/Africa/CIS offsetting weaker North American stimulation. CEO Jeff Miller highlighted multi-year demand from restoring production and energy security post-disruptions; the firm sees mid-single-digit 2027 revenue growth and 15% margins. Read →

Chevron appointed Jeff Gustavson, currently president of New Energies, as CFO effective January 1, 2027, succeeding Eimear Bonner who moves to president of oil, products and gas. The reshuffle also shifts Mark Nelson to vice chairman for strategy and business development, positioning two executives as potential successors to CEO Mike Wirth. Read →

Olenox Industries completed acquisitions of Wildboy Holdings (British Columbia natural gas assets with up to 144 MMcf/d processing and 56.8 Bcf proved reserves) and IPD Industries (100 MW Texas power-development platform) for $21.7 million mostly in preferred stock. The deals advance its gas-to-power-to-compute strategy targeting AI, data centers and digital assets. Read →

Norway’s Vår Energi reported Q3 EBIT of $2.21 billion, nearly double the prior year, on higher realized oil and gas prices. It raised its dividend to $400 million for Q3 and Q4 (including an extraordinary component) while keeping 2026 capex guidance at $2.5-2.7 billion and long-term production target at 450,000 boepd. Full-year output is now seen at the low end of prior guidance due to operational issues. Read →

Woodside lowered the top end of its 2026 production guidance to 174-181 million boe from 174-185 million boe, citing lower Beaumont New Ammonia volumes, a tighter Scarborough LNG cargo window and reduced Okha output. After a strategic review, it will begin a formal process to reduce its stake in the Texas ammonia plant due to slower-than-expected lower-carbon demand and shifting policy. Quarterly production rose 12% sequentially to 46.2 mmboe. Read →

Gulf Keystone Petroleum will merge with ShaMaran Petroleum in a $601 million all-share deal creating one of the largest producers in Iraq’s Kurdistan region, with each owning 50% post-deal. Combined pro-forma production is 53,000 bpd across four fields with 323 million barrels of 2P reserves and potential to reach 100,000 bpd. Gulf Keystone plans to shift its primary listing to Euronext Oslo and end the London listing. Read →

Grupo Mexico posted Q3 net profit of $2 billion, up 56% year-on-year, and revenue of $6.33 billion, up 38%, driven by higher metal prices despite a 1.9% drop in copper output to 260,322 tonnes. It lowered 2026 copper production guidance to 1.028 million tonnes from 1.034 million. EBITDA rose 50.5% to $3.77 billion; the Tia Maria project reached 49.6% completion. Read →

Mercuria delivered the first 12,000 tonnes of copper from the DRC into the US Project Vault strategic critical minerals reserve this week. The trading house committed $500 million to the $12 billion public-private initiative alongside Glencore; the shipment is part of a broader Gécamines arrangement to supply up to 100,000 tonnes to the US in 2026 from Tenke Fungurume. Read →

Saturn Oil & Gas agreed to acquire all shares of Corex Resources for $302 million ($252M cash plus $50M equity). The deal adds 7,000 bbl/d of 100% light oil production in southwest Manitoba, adjacent to Saturn's Saskatchewan core, lifting its 2026 exit production guidance to 54,000-56,000 boe/d. It is immediately accretive at 1.6x NOI and 82% of PDP NPV10. Read →

Dorchester Minerals entered a non-taxable contribution and exchange agreement for 4,300 net royalty acres in three North Dakota Williston Basin counties. The seller receives 1.25 million DMLP units; cash from the interests post-July 1, 2026, flows to Dorchester at closing expected Oct 30. This expands its royalty portfolio across 28 states. Read →

Atlas Consolidated Mining reported Q3 net income of P7.57 billion, up from P218 million a year earlier, with core income at P6.65 billion. Revenues rose 74% to P22.34 billion and EBITDA surged 179% as copper prices averaged $6.15/lb (+41%) and C1 costs fell 33% to $1.53/lb on higher grades and output. Read →

Expand Energy appointed Daniel E. Brown (ex-Chord Energy and Oasis CEO) as President and CEO effective Oct 26; he joins the board. Michael Wichterich returns to non-executive chairman after serving as interim. Brown’s package includes $1M base salary, 125% bonus target and substantial equity incentives as the largest North American natural gas producer transitions leadership. Read →

New Hope Corp will acquire the remaining shares in Malabar Resources in an all-share transaction valuing the company at A$1.8 billion equity value. The deal gives New Hope full ownership of the Maxwell underground coal mine in New South Wales, approved for up to 8 million tonnes per year output near its existing Bengalla operations. Combined pro forma production targets nearly 19 million tonnes annually. Read →

ExxonMobil signaled higher refining margins in Q3 could add $4.5 billion to downstream profit versus Q2. Adjusted net income for the refining business could reach $8.5 billion, more than double the prior quarter, driven by supply disruptions from the Iran conflict and attacks on Russian refineries. Full Q3 results are due October 30. Read →

Ithaca Energy said CEO Luciano Vasques intends to retire by March 31, 2027. The board has started a search for a successor to lead the company after its Eni UK integration and recent acquisitions. Vasques oversaw growth that nearly tripled the share price over three years. Read →

Kistos Holdings reported estimated pro forma EBITDA of about $280 million for the nine months ended September 30, including $75 million from Oman. The company signed an agreement on October 14 to acquire a 10% working interest in Norwegian licenses PL 169E, PL 956 and PL 956B from Vår Energi for $12.9 million upfront. Production is close to plan with new oil from Safi and AGW areas. Read →

Serica Energy reported 37,100 boepd production for the first nine months of 2026, up 44% year-on-year, with revenue of $905 million. Q3 output fell to 22,100 boepd due to maintenance at Bruce and Triton hubs. The company now expects full-year production to average just below 40,000 boepd as Triton FPSO restart slips to end-November, but maintains $450-475 million post-tax CFFO guidance. Read →

National Fuel Gas (NFG) board approved spinning off its Integrated Upstream and Gathering (IUG/Seneca Resources + midstream) Appalachian natural gas business into a standalone public company via tax-free distribution of at least 80.1% of shares to NFG shareholders. IUG will hold 1.2 million net acres, 1.1 Bcf/d net production and 5 Tcf proved reserves; NFG retains up to 19.9% initially. Post-spin, NFG becomes a pure regulated utility with $5 billion rate base serving 1.1 million customers. Separation expected H2 2027; Justin Loweth to lead IUG as CEO. This separates upstream/gathering from regulated assets amid strong Appalachian gas demand from power and data centers. Read →

Alcoa reported Q3 2026 revenue of $3.704 billion, net income attributable to the company of $483 million ($1.81/share) and adjusted net income of $485 million ($1.82/share). Adjusted EBITDA excluding special items was $789 million; cash from operations reached $643 million with free cash flow of $472 million. Aluminum production rose for the sixth straight quarter with year-to-date records at five smelters and one refinery; the Alumar, Brazil smelter restart was completed. South32 shareholders approved the AliGroup acquisition on Oct 15, advancing the deal toward H1 2027 close; company ended quarter with $4.4 billion cash including $2.6 billion financing for the transaction. Read →

Capital Limited reported Q3 2026 group revenue of $115.7 million, up 23.2% year-over-year though down 1.4% sequentially, with nine-month revenue at $334.7 million (+32.2% YoY). Mining revenue jumped 223% YoY to $25.2 million while MSALABS laboratory revenue rose 23.8% YoY to $26.0 million; drilling revenue was broadly flat. The company raised full-year 2026 revenue guidance to $435-455 million (from prior $430-450 million) to reflect consolidation of the newly acquired Australian underground drilling contractor Metres Down Under (MDU) from Sept 30. MDU is expected to be accretive from day one. Read →

TotalEnergies reported its European refining margin marker at $33.2 per barrel in Q3, nearly four times the $8.4 level a year earlier, with refining and chemicals cash flow expected to rise about $2 billion quarter-on-quarter. Hydrocarbon production is guided at 2.45-2.50 million boe/d and integrated LNG results are set to rise sharply on a 20% jump in average LNG prices. The gains reflect sustained supply disruptions and elevated energy prices from the Iran conflict. Read →

Equinor and partners Petoro and TotalEnergies announced an oil and gas discovery in exploration well 30/8-7 S (Grimsnes) near the Oseberg field in the Norwegian North Sea, with preliminary recoverable volumes estimated at 19-50 million boe. The companies plan a fast-track, low-cost tie-back to existing subsea infrastructure and the Oseberg Sør platform, targeting an investment decision as early as next summer and production within three years. The find supports efforts to extend field life using paid-for facilities. Read →

Mercuria Energy Group agreed a $250 million prepayment deal to buy copper from units of Shanghai Jayson New Energy Materials Group in the Democratic Republic of Congo. The transaction exemplifies trading houses advancing large upfront sums to secure physical copper amid soaring prices and regional price differentials. It underscores accelerating efforts by merchants to lock in critical-minerals supply for the energy transition. Read →

TC Energy closed a deal giving five British Columbia First Nations an economic interest in the Coastal GasLink natural gas pipeline that feeds LNG Canada. A second similar transaction with additional nations is slated for Q4. The move converts future toll revenue into near-term capital while deepening Indigenous ownership in a key LNG-supply artery. Read →

Murphy Oil announced an 88-foot net oil pay appraisal at Bubale West-1X offshore Côte d’Ivoire, a 131-foot net oil discovery at Lac Da Trang North-1X offshore Vietnam, and first oil from the Lac Da Vang field in Vietnam plus startup of the Chinook #8 well in the U.S. Gulf. The results expand Murphy’s offshore production base and appraisal inventory across West Africa and Southeast Asia. Read →

BP expects Q3 net debt of $13.5-14.5 billion, down from $22.3 billion in Q2, after redeeming $1 billion in hybrids and benefiting from strong oil/gas trading and refining. Refining indicator margin rose to $46.70 per barrel from $29.60. The company flagged $3-4.5 billion in impairments mainly in gas and low-carbon energy, excluded from underlying results. Read →

BP expects upstream production of 2.19-2.24 million boe/d and significantly higher gas marketing and trading results versus Q2. Realized refining margins are projected to add $1.9-2.1 billion to products earnings. Net debt reduction includes working capital and capex effects. Read →

Effective Jan. 1, 2027, Jeff Gustavson moves from New Energies president to CFO; Eimear Bonner shifts from CFO to president of Oil, Products & Gas. Mark Nelson becomes vice chairman focused on strategy and business development. The moves position internal candidates ahead of CEO Mike Wirth succession. Read →

Cenovus will acquire Athabasca Oil in a C$5.7 billion transaction adding 45,000 boe/d of thermal oilsands production and Duvernay assets. Production from acquired assets could reach 115,000 bpd by 2032. Deal is expected to close in December and generate C$85 million in annual synergies. Read →

Woodway Energy Infrastructure appointed Russell Shriver as CCO effective immediately. Shriver brings nearly 30 years of commercial experience from data center, power and telecom sectors including roles at Digital Realty and Vantage Data Centers. Appointment supports expansion of natural gas pipelines for data centers, IPPs, utilities and LNG. Read →

TotalEnergies and KKR agreed to add three utility-scale solar assets in Texas and Ohio, totaling 700 MW, to their 50/50 US joint venture created in 2025. The portfolio has an enterprise value of $1.2 billion, with assets expected online by Q1 2027 and already contracted or to be marketed by TotalEnergies. TotalEnergies will operate the assets post-completion, expanding the JV to about 2.1 GW. Read →

Eni signed binding deals to divest 10% interests in seven production-sharing contracts in Indonesia's Kutai Basin, operated by its 50/50 Searah JV with Petronas. Pertamina acquires stakes in East Sepinggan, North Ganal and Rapak PSCs including Merakes gas fields and North Hub developments; Medco takes interests in West Ganal, East Ganal, Ganal and Muara Bakau including Jangkrik and South Hub projects plus Geliga discovery. Deals are subject to regulatory approvals. Read →

Nordex reported 2,810 MW of project orders in Q3 2026, up 29.5% from 2,170 MW a year earlier, with nine-month intake at 7,733 MW. Türkiye contributed over 900 MW and the US exceeded 1.3 GW year-to-date, while average selling price held near €0.90-0.93 million per MW. CEO José Luis Blanco highlighted growing international diversification. Read →

Gran Tierra Energy stockholders voted 99.8% in favor of selling its Colombian and Ecuadorian businesses to Maurel & Prom for $1.33 billion enterprise value, including debt assumption. The company expects $315 million net cash proceeds, with closing targeted for Dec. 31, 2026, subject to regulatory approvals, leaving it debt-free to focus on Canada and Azerbaijan. Read →

Equinor and Shell signed an agreement for Shell to acquire a 30% non-operating interest in the Bay du Nord deepwater project offshore Newfoundland and Labrador. Equinor retains 70% and operatorship; the C$14 billion project targets FID in early 2027 and first oil in 2031, with initial phase resources exceeding 400 million barrels. Read →

Devon Energy agreed to sell its Eagle Ford shale assets in South Texas, covering about 90,000 net acres and roughly 4% of its production or 68,000 boe/d, to Crescent Energy for $4.2 billion in cash. The deal, expected to close by year-end, lets Devon sharpen focus on the Permian after its Coterra merger while Crescent gains scale and over 600 Tier 1 locations adjacent to its operations with expected synergies near $100 million annually. Read →

ONEOK closed its $4.425 billion cash acquisition of Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets. The deal more than doubles ONEOK’s Midland Basin processing capacity to about 2.3 Bcf/d, adds 700 miles of pipelines and 600,000 dedicated acres under long-term contracts, and is funded partly by a $9 billion Apollo minority equity investment. Read →

ONEOK completed its $4.425 billion cash acquisition of Brazos Midstream’s natural gas gathering and processing assets in the Permian Midland Basin. The deal more than doubles ONEOK’s Midland Basin processing capacity to 2.3 billion cubic feet per day and adds 600,000 dedicated acres under long-term contracts averaging over 12 years. It strengthens the company’s position connecting rising natural gas and NGL output across its integrated system. Read →

Apollo Global Management submitted a non-binding offer for German state-owned energy firm Uniper in an auction that could value the country’s largest natural gas importer at around €10 billion. Apollo joins bidders including Equinor, EPH, a Brookfield-CPPIB consortium and a KKR-RWE group; Berlin is selling up to 74.12% of its 99.12% stake after the 2022 bailout. Read →

Equinor discovered gas at the Gullfaks South field in the North Sea with recoverable resources estimated at 0.5-1.6 million standard cubic metres of oil equivalent, or 3.3-10.3 million barrels. The sidetrack well on the existing Gullfaks licence is expected to deliver profitable barrels that help sustain activity and production on the field. Read →

Chevron agreed to sell its stakes in Hess Midstream and DJ Basin crude oil midstream assets to restructure Bakken contracts, cutting unit midstream costs by about 50% and extending terms to 2045. The move will deconsolidate roughly $3.7 billion of Hess Midstream debt, deliver $200 million cash, and produce a one-time after-tax loss of $3-4 billion while boosting returns. Read →

Shell expects its third-quarter refining margin to reach a record $42 per barrel, up from $24 per barrel in the prior quarter, as Middle East conflict tightened fuel supplies. The company also raised its integrated gas output outlook to 740,000-780,000 boed after the ARC Resources acquisition and narrowed upstream production guidance. Read →

ONEOK completed the $4.425 billion cash acquisition of Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets. The deal more than doubles ONEOK’s Midland Basin processing capacity to 2.3 Bcf/d and adds 600,000 dedicated acres under long-term contracts averaging over 12 years. It bolsters ONEOK’s integrated natural gas and NGL platform amid rising Permian production. Read →

Chevron signed agreements to restructure Bakken midstream contracts and new DJ Basin arrangements with Hess Midstream. In exchange for extended Bakken terms cutting unit costs 50%, Chevron will divest its Hess Midstream interests and DJ Basin assets for $200 million cash. The deal deconsolidates $3.7 billion in debt and is expected to close by year-end 2026. Read →

Energy Transfer agreed to acquire Vaquero Midstream for $2.63 billion ($1.95B cash plus 33.3M new units). The deal adds 300 miles of Delaware Basin pipelines and a 675 MMcf/d processing complex with 10-year fee-based contracts. It is expected to close in Q4 2026 and immediately accretive to DCF per unit. Read →

Shell expects robust third-quarter oil trading results and refining margins of $42/bbl, a quarterly record. The update offers the first Big Oil view of performance amid volatile fuel markets. Strong trading and downstream profits underscore commodity trading houses’ gains from supply squeezes. Read →

Ithaca Energy agreed to acquire Suncor’s shallow-water offshore Newfoundland and Labrador assets for up to $1.1 billion ($860M cash plus $250M contingent). The deal marks Ithaca’s first international expansion and adds scale in a UK Continental Shelf-like environment. It enhances production outlook and diversification. Read →

Cenovus Energy agreed to buy Athabasca Oil in a C$5.7 billion cash-and-stock transaction, adding about 45,000 boepd of thermal oil sands production. The deal targets expansion to 115,000 bpd by 2032 and includes full ownership of Duvernay Energy. It strengthens Cenovus as one of Canada's largest oil sands producers amid regulatory support for output growth. Read →

Chevron announced Eimear Bonner, current CFO, will become president of Oil, Products & Gas effective Jan. 1, 2027. Jeff Gustavson, president of New Energies, succeeds as CFO; Mark Nelson shifts to strategy and business development. Brent Gros moves to president of New Energies. The moves position leaders ahead of CEO succession planning. Read →

Baker Hughes signed a strategic alliance with PDVSA, Lindsayca and Fulcrum LNG to develop Venezuela's natural gas production, processing and potential LNG exports. A separate MOU with New Stratus Energy supports future oil and gas projects. The framework targets domestic supply first and eventual LNG commercialization subject to sanctions approvals. Read →

Metlen Energy & Metals secured a long-term agreement to supply a major Japanese chemical company with up to 16% of annual gallium output from its under-construction Greek facility. This is the second such deal, following one with a U.S. firm, covering nearly half of the planned 50 MT/year capacity ahead of 2027 startup. It underscores demand for European critical raw materials supply. Read →

Suncor agreed to sell its 48% interest in Terra Nova, 40% in White Rose and 38.6% in West White Rose offshore Newfoundland to Ithaca Energy for C$1.2 billion upfront cash plus up to C$350 million contingent on oil prices. Ithaca assumes C$1.9 billion in future liabilities and will operate Terra Nova. Suncor retains Hebron and Hibernia stakes and raised monthly share repurchases to C$750 million from October. Read →

Ithaca Energy agreed to acquire Suncor’s portfolio of shallow-water offshore oil assets off Newfoundland and Labrador for up to $1.1 billion, its first international deal. The assets add 103 million boe of 2P reserves and lift Ithaca’s medium-term production outlook to 140-150 kboe/d. Separately, Metlen Energy & Metals signed a long-term gallium supply agreement with a major Japanese chemical company covering up to 16% of output from its new Greek facility starting in 2027. Read →

Suncor is selling its interests in Terra Nova, White Rose and West White Rose to Ithaca Energy for C$1.2 billion cash plus up to C$350 million contingent, totaling up to C$1.55 billion. The move narrows Suncor’s East Coast presence while Ithaca gains operated and non-operated stakes and plans to assume Terra Nova operatorship. Suncor keeps Hibernia and Hebron. Read →

Suncor agreed to sell its stakes in three offshore Newfoundland assets to Ithaca Energy for C$1.2 billion upfront plus up to C$350 million contingent on oil prices. Ithaca will assume C$500 million in well compliance costs and C$1.4 billion in abandonment liabilities. The deal is expected to close in early 2027 after regulatory approvals. Read →

Metlen Energy & Metals signed a long-term gallium supply agreement with a major Japanese chemical company covering up to 16% of annual output from its under-construction Greek facility. The deal is the second strategic gallium offtake, following one with a U.S. tech firm, and brings pre-sold production close to full 50-tonne annual capacity before 2027 start-up. Read →