In Part 1 of this two-part series, the potential of the latest global energy crisis — already the largest disruption to oil and LNG supplies in history — to cause temporary demand erosion and permanent demand destruction for oil and natural gas was discussed.

Fatih Birol, executive director of the International Energy Agency (IEA), told an Ottawa audience that given the current geopolitical situation, the number one global challenge is energy security.

North America is a better, safer, stronger, more prosperous region “when we optimize across the energy network,” says Rich Kruger, president and chief executive officer of Suncor Energy Inc.

With oil tankers trapped in the Strait of Hormuz at the start of the Iran war, Gibson Energy Inc. saw lower and volatile shipping volumes from its South Texas Gateway export terminal in the first quarter of 2026.

Cenovus Energy Inc. reported record production of 972,100 boe/d in the first quarter of 2026, up from up from 917,900 boe/d in the fourth quarter of 2025.

Suncor Energy Inc. has increased its planned monthly share repurchases to $350 million per month from $275 million per month, projecting total 2026 share repurchases of nearly $4 billion, an increase of over 30 per cent relative to 2025 share repurchases.

U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration (EIA) said on Wednesday.

Based on strong oil well performance, Spartan Delta Corp. has updated its financial and operating guidance for 2026 to capitalize on the sustained improvement in crude oil prices and accelerate growth in the Duvernay.

Topaz Energy Corp.’s Q1 2026 average royalty production of 24,609 boe/d includes record natural gas of 105.7 mmcf/d and record total liquids of 6,998 bbl/d, 11 per cent and seven per cent, respectively, higher than the prior year.

Capco, a global management and technology consultancy, announced this week the launch of its Calgary practice focused on the energy and utilities sectors.