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Explainer: Fujairah on high alert
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
Middle East oil vulnerabilities have been exposed
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
Touchstone advances Central strategy
Canadian independent’s evolving portfolio in Trinidad and Tobago gives it access to the Atlantic LNG market and a close-up view of developments in neighbouring Venezuela
Upstream looks to deepwater rescue
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
HPI Market Data Book 2026: Global construction – Americas
Capex is concentrated in gas processing and LNG in the US, while in Canada the reverse is true
EU sanctions push stalls ahead of fourth anniversary of Russian invasion
As Europe marks the fourth anniversary of the Russia-Ukraine conflict, EU efforts to tighten sanctions on Moscow have stalled
Canadian producers positioned to ride out the downcycle
The country’s upstream players have demonstrated resilience to low oil prices and are well positioned to prosper despite a volatile market
Kazakhstan lays groundwork for transformation
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
Letter from Iran: Testing times for Tehran-Beijing crude dynamics
Growing pressure from the Trump administration continues to threaten a resilient China-Iran oil nexus
Nigeria in upstream charm offensive
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
Conservative Party of Canada leader Pierre Poilievre
Upstream Politics Canada
Vincent Lauerman
Calgary
4 February 2025
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Canada re-evaluates energy security with elections on horizon

The threat of Trump tariffs and the departure of Trudeau have sharpened the domestic political focus on boosting the oil and gas industry

The Canadian oil and gas industry has ramped up production substantially since the turn of the century, especially from the oil sands, despite many anti-hydrocarbon policies from the federal government led by Prime Minister Justin Trudeau and his Liberal Party over the past nine years. At least some of these policies are likely to be reversed with a leadership race for the Liberals— Trudeau agreed to step down as leader of the party in early January—and a springtime federal election now as much as guaranteed. Despite this, the future of the Canadian oil and gas industry has become even more uncertain, with US President Donald Trump threatening 25% tariffs on all imports from Canada and plann

Also in this section
European gas: From bad to much worse
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
Trump’s gasoline price pledge paradox
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
Explainer: Fujairah on high alert
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
Middle East oil vulnerabilities have been exposed
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis

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