Hibiscus 3.0: Indie diversifying alongside ambitious upstream growth plans
Saturday, August 16,2025,09:09
Operator eyeing more E&P opportunities in Brunei after its 2024 debut and moving into energy transition space .. read more..
Contracting heavyweights line up for pivotal Middle East gas facility expansi...
Saturday, August 16,2025,03:13
The new gas train, dubbed H7, would be located adjacent to the existing Habshan 5 gas plant .. read more..
Australia's gas industry proposes reforms to deliver energy security
Saturday, August 16,2025,03:12
Australian Energy Producers recommending a prospective reservation policy among a suite of proposals to the Gas Market Review .. read more..
Relief for India in the offing? Trump says he may have to think about tariffs...
Saturday, August 16,2025,01:42
Following a meeting with Russian President Vladimir Putin in Alaska, U.S. President Donald Trump stated he doesn't foresee the immediate need for retaliatory tariffs on countries purchasing Russian oil. However, Trump indicated this situation might change, suggesting he may need to consider such tariffs in the coming weeks, depending on future developments. .. read more..
Trump says no imminent plans to penalise China for buying Russian oil, while ...
Saturday, August 16,2025,01:42
Following a meeting with Russian President Vladimir Putin in Alaska, U.S. President Donald Trump stated he doesn't foresee the immediate need for retaliatory tariffs on countries purchasing Russian oil. However, Trump indicated this situation might change, suggesting he may need to consider such tariffs in the coming weeks, depending on future developments. .. read more..
How Much Energy Does ChatGPT’s Newest Model Consume?
Friday, August 15,2025,23:00
How much energy does the newest version of ChatGPT consume? No one knows for sure, but one thing is certain – it’s a whole lot. OpenAI, the company behind ChatGPT, hasn’t released any official figures for the large language model’s energy footprints, but academics are working to quantify the energy use for query – and it’s considerably higher than for previous models. There are no mandates forcing AI companies to disclose their energy use or environmental impact, so most do not offer up those kinds of statistics… .. read more..
Insurers Urged to Reassess Russian Oil Exposure
Friday, August 15,2025,21:00
An insurance association has urged its members to assess their exposure to Russian oil as the UK and EU prepare to update their oil price cap regimes. The oil price cap, introduced by the G7, EU, and Australia, aims to restrict Russia’s oil revenues by preventing Russian companies from selling oil above a specified threshold. In July, the UK and EU announced plans to lower the price cap to further limit Russia’s ability to fund its war in Ukraine. The new measures take effect on 2 September in the UK and 3 September in the EU. However,… .. read more..
India to tap deepwater reserves for self-reliance
Friday, August 15,2025,19:40
Prime Minister Modi announced India's plan to launch a deepwater exploration mission, aiming to boost domestic oil and gas production and reduce reliance on imports. With current imports covering 90% of oil and 50% of gas needs, the mission seeks to achieve energy independence and unlock the potential of areas like the Andaman Sea, attracting global majors through recent reforms. .. read more..
Work underway on 10 new nuclear reactors: PM Modi
Friday, August 15,2025,19:04
Prime Minister Modi announced India's commitment to energy independence through nuclear power reforms, opening the sector to private investment. With work underway on 10 new nuclear reactors, India aims to increase nuclear power generation capacity tenfold by 2047. The nation has already achieved its goal of sourcing 50% of its energy from clean sources ahead of schedule. .. read more..
Tariffs and Energy Costs Could Spark an Economic Crisis for Germany
Friday, August 15,2025,19:00
The asymmetrical trade agreement between the EU and the US will further worsen Germany’s recession. Yet neither politicians nor corporate leaders show any willingness to make the sweeping policy changes needed to reverse course. Germany’s economic data leaves no room for illusions. After contracting by 0.9% in 2023 and another 0.5% last year, the decline will continue this year. The Machine Room Has Been Blown Apart It is precisely the sectors that have sustained German prosperity for decades—automobiles, construction, machinery—that… .. read more..
Venezuelan Crude Oil On Its Way to the US
Friday, August 15,2025,19:00
Chevron has dispatched the first two Venezuelan crude cargoes to the U.S. since Washington restored its license to operate in the sanctioned nation last month. The Mediterranean Voyager and Canopus Voyager left Venezuelan waters on Friday loaded with Hamaca and Boscan heavy crudes, bound for the U.S. West Coast and Port Arthur, Texas, respectively. The move signals a tentative reopening of trade flows that had been abruptly halted earlier this year when the White House revoked Chevron’s license, triggering a 20% drop in Venezuela’s… .. read more..
Could Trump make Intel great again? Bernstein has some doubts
Friday, August 15,2025,18:54
Uncle Sam buying an equity stake in Intel is unlikely to solve the chipmaker's underlying problems, according to Bernstein. .. read more..
Oil Rig Count Stabilizes in Nervous Market
Friday, August 15,2025,17:10
The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday. The total rig count in the US stayed at 539, according to Baker Hughes, down 47 from this same time last year. The rig count is still near four-year lows. The number of oil rigs, however, rose by 1 for the second week in a row to 412, although year over year this represents a 71-rig decline. The number of gas rigs fell by 1 this week, coming in at 122 for a gain of 24 active gas rigs… .. read more..
One of Russia’s Largest Oil Refineries Halts Crude Intake
Friday, August 15,2025,16:30
Ukraine’s drone campaign against Russian energy assets has taken out another major target—this time Lukoil’s Volgograd refinery, one of the ten largest in the country, forcing a halt to crude intake. According to regional officials, Thursday’s strike sent falling debris onto oil product storage, sparking a fire that burned for 19 hours before being contained. The 300,000 bpd facility, a key supplier to southern Russia with some exports, has been hit multiple times this year. Lukoil has yet to comment. The attack comes amid… .. read more..
UK Rejects Bioethanol Industry Bailout
Friday, August 15,2025,15:30
The UK government has decided against bailing out the country’s bioethanol plants, which have warned they would be forced to close without a rescue package as the U.S.-UK trade deal has made them unviable. The trade deal from May removed a previous 19% tariff, which the UK imposed on imports of U.S. bioethanol. As a result, the UK-produced bioethanol has been unable to compete with the zero-tariff imported U.S. bioethanol. Vivergo Fuels, the UK’s largest bioethanol plant, warned at the end of May that “if… .. read more..
Europe on Edge Ahead of Trump-Putin Meeting
Friday, August 15,2025,15:00
As Russian President Vladimir Putin and US President Donald Trump prepare to meet in Alaska for a high-stakes summit to discuss ending the 43-month-old war in Ukraine, a deep feeling of unease is gripping European capitals, especially Kyiv. The August 15 meeting between the two leaders, their first since Trump returned to the presidency in January, could reshape not only Ukraine's future borders but also European security without either Kyiv or Brussels having a say. Trump has made ending the conflict -- Europe's largest since World War II -- a… .. read more..
Trump–Putin Meeting Keeps Oil Markets in Wait-and-See Mode
Friday, August 15,2025,15:00
Oil markets have seen thin liquidity and rangebound prices this week, with ICE Brent hovering near $66 a barrel as traders focus almost entirely on the upcoming Trump–Putin meeting in Alaska. Friday, August 15, 2025Thin trading liquidity, rangebound price movements, and almost zero interest in any other topic than the Trump-Putin meeting in Alaska have marked this week, with ICE Brent still trading around the $66 per barrel mark. LNG prices have already shed some $0.50/MMBtu this week as gas traders seem to expect some semblance of a deal… .. read more..
Algeria Close to Signing Shale Gas Deals with Exxon and Chevron
Friday, August 15,2025,14:30
Algeria nears the finalization of agreements with U.S. supermajors Exxon and Chevron to explore and invest in its shale gas resources as the North African country bets big on boosting its gas pipeline and LNG exports, the head of the Algerian energy regulator told Bloomberg. “The technical aspects have more or less been agreed upon, but the commercial alignment is still under negotiation and will soon be finalized,” Samir Bekhti, chairman of energy regulator Alnaft, told the newswire in an interview published on Friday. … .. read more..
It Is Not Too Late To Benefit From A Potential Short Squeeze In Uranium
Friday, August 15,2025,14:00
It Is Not Too Late To Benefit From A Potential Short Squeeze In Uranium I don’t claim to be a Roaring Kitty or anything, but short squeezes, having been profitable for me in the past, always interest me. So, when I was sent a link to this article by one of the editors here at Oilprice.com, I was intrigued. The piece, from Goehring and Rozencwajg Natural Resource Investors, is headlined “A Uranium Short Squeeze?”, and goes into some detail about why that might have been coming earlier this year. The gist of the story is that, in… .. read more..
Oil Prices Drop as Traders Await Trump-Putin Summit
Friday, August 15,2025,14:00
Oil prices fell by more than 1% early on Friday as the market awaits the outcome of the summit between U.S. President Donald Trump and his Russian counterpart Vladimir Putin, who will discuss a potential ceasefire in Ukraine. As of 9:37 a.m. EST on Friday, the U.S. benchmark oil price, WTI Crude, was down by 1.38% at $63.10, as President Trump departed for Anchorage, Alaska, to meet with Putin. The international benchmark, Brent Crude, traded 1.18% lower at $66.07 per barrel. The face-to-face meeting between President… .. read more..
From Alaska to OPEC+: Why Oil Prices Can’t Shake Bearish Bias
Friday, August 15,2025,14:00
Light Crude Oil Futures settled at $63.96 as of Thursday’s close, marking a mild rebound but still reflecting broader weakness in market structure. The week was shaped by several high-impact fundamental events—none of which proved decisive enough to shift the balance away from oversupply and tepid demand. Traders were focused on Friday’s Trump-Putin meeting, but until concrete action disrupts physical flows, the dominant pressure remains rooted in inventories and production. Trump-Putin Meeting Raises Risk, But Market Demands… .. read more..
Venezuela Poised to Escalate Territorial Dispute With Guyana
Friday, August 15,2025,14:00
Politics, Geopolitics & Conflict Now that Trump has gotten himself involved in numerous conflict venues, Venezuela’s Maduro is testing to see if he’ll have the bandwidth for another: Guyana, which is gearing up for its general elections on September 1. President Irfaan Ali’s PPP/C government is seeking a second term, with opposition alliances trying to consolidate ground. But overshadowing it all is Maduro’s escalating rhetoric over a Russian-style annexation of the Essequibo region, Guyana’s oil-rich western territory… .. read more..
The First U.S.-Russia Presidential Summit on American Soil Since 1988
Friday, August 15,2025,14:00
Today’s sit-down in Anchorage will be the first U.S.-Russia summit on American soil since Reagan met Gorbachev in ’88. Trump’s billing it as a shot at ending the Ukraine war, but let’s keep some perspective: he’s been saying “two weeks” since the campaign trail and has repeated it in office like a mantra. Nothing on the battlefield or in politics has shifted in his favor, yet markets are trading this as if an outcome is baked in–and the outcome is expected to be more Russian barrels on the market.… .. read more..
US Natural Gas Prices Collapse on Oversupply
Friday, August 15,2025,14:00
Numbers Report – August 15, 2025 In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s take a look. ‘Bloated’ Markets Are Finally Coming, Warns the IEA The International Energy Agency has sought to squash hopes for an oil market recovery with a scathingly bearish monthly report, cutting 2025-2026… .. read more..
Ukraine attacks halt Russian oil exports to Hungary
Friday, August 15,2025,13:04
Rockets and drones hit a Druzhba oil pipeline facility located in Russia that enables the flow of crude to Hungary, Germany and a Russian maritime port .. read more..
Ukraine Targets Russian Oil and Arms Ahead of Summit
Friday, August 15,2025,12:57
Hours before the Trump-Putin meeting in Alaska, Ukraine said it had struck an oil refinery in Russia and a Caspian port that Moscow uses to ship weapons from Iran for the war in Ukraine. Ukraine said it attacked overnight the Syzran refinery, owned by oil giant Rosneft and located in Russia’s Samara region, about 500 miles from the Ukrainian border with Russia. “The target was hit, with fire and explosions recorded,” after the strike in the early hours on Friday, the General Staff of Ukraine’s… .. read more..
Trump-Putin Summit: Live Updates
Friday, August 15,2025,12:33
Russian and U.S. Presidents Vladimir Putin and Donald Trump are meeting for the first time in six years to discuss the Ukraine conflict, with Trump aiming to set the table for a future trilateral meeting including Ukrainian President Volodymyr Zelenskyy. Zelenskyy has been excluded from the current talks and has voiced concerns about decisions made in his absence, particularly regarding territorial concessions. Despite calls for a quick resolution, conflicting aims and ongoing battlefield gains by Russia make a swift end to the conflict unlikely.… .. read more..
Devon Energy and Centrica Ink Major LNG Supply Deal
Friday, August 15,2025,12:00
U.S. Devon Energy Corporation has signed a 10-year natural gas agreement to supply LNG to UK’s Centrica, the owner of British Gas. Under the deal announced on Friday, Devon Energy will supply 50,000?(MMBtu) per day of natural gas over a 10?year term starting in 2028. This is equivalent to five LNG cargoes per year. The LNG volumes will be indexed to the European gas hub price, TTF. The agreement supports Centrica’s objective of managing market price risk in its LNG portfolio by aligning feed gas pricing with… .. read more..
Power cuts and blackouts: Why can't Iraq keep the lights on?
Friday, August 15,2025,11:44
Iraq's power grid has suffered from decades of corruption, mismanagement, and conflict, despite billions of dollars of investment. .. read more..
Three-way race in Petrobras tender for Parque das Baleias campaign
Friday, August 15,2025,11:28
Brazilian operator to contract seismic work for Campos basin development .. read more..
China Maintained Strong Oil Refining Output in July
Friday, August 15,2025,11:00
Chinese oil refining throughput jumped by 9% in July from a year earlier amid higher utilization capacity at state-owned refiners, according to official data released on Friday. Chinese refiners processed 14.85 million barrels per day (bpd) of crude oil last month, per the data from the National Bureau of Statistics cited by Reuters. The crude processing throughput was slightly lower compared to June this year, down by 1.95%. June, however, saw the strongest oil refining levels in China in nearly two years. Improved fuel… .. read more..
Could BP swap current FLNG vessel for far bigger unit on West Africa asset?
Friday, August 15,2025,10:19
Golar LNG chief executive raises possibility that newbuild liquefaction vessel could replace existing unit at Greater Tortue Ahmeyim .. read more..
India Launches Deepwater Oil and Gas Exploration Mission
Friday, August 15,2025,09:45
India is launching a national deepwater exploration mission to tap more of its energy resources, boost domestic energy supply, and reduce dependence on imports, Prime Minister Narendra Modi said on Friday. “India will harness its deepwater energy resources, strengthening energy self-reliance and reducing dependence on foreign fuel imports,” Modi said in his address on the country’s Independence Day. India is also boosting its renewable energy capacity, with advances in solar, nuclear, hydro, and hydrogen energy, according… .. read more..
Business as Usual: India buys 2 mn bpd Russian oil in August
Friday, August 15,2025,08:21
India's Russian oil imports increased to 2 million barrels per day in August. This rise occurred as refiners prioritized economic factors. Russian oil now constitutes 38% of India's total crude imports. Purchases from Iraq and Saudi Arabia decreased. There is no government directive to reduce Russian oil volumes. Refiners are also exploring alternative sources for energy security. .. read more..
China’s Coal Production Drops in July
Friday, August 15,2025,08:15
Coal production in China fell by 3.8% on the year last month, to the lowest level since April 2024 in the first annual decline for this year, Reuters reported today, citing figures from China’s statistics bureau. Coal production over the first seven months of the year, however, was higher by 3.8% from last year, the data showed, with the total at 2.78 billion tons. Per Bloomberg, the reason for the dip in July was, on the one hand, government efforts to curb oversupply, which is already sizable, and, on the other hand, bad weather consisting… .. read more..
BlackRock-led investors sign $11 billion deal for Middle East gas megaproject
Friday, August 15,2025,07:51
Jafurah remains a strategic priority for Aramco as the Saudi heavyweight advances several projects aimed at increasing the country's natural gas production capacity by more than 60% by 2030 .. read more..
India aims to up nuclear energy capacity over 10 times by 2047: PM Modi
Friday, August 15,2025,07:45
Prime Minister Modi announced India's ambitious plan to increase nuclear power generation capacity tenfold in the next two decades, aiming for energy independence. The nation has opened the nuclear power industry to the private sector and is reforming the Atomic Energy Act to facilitate this growth. .. read more..
Borr Drilling gives thumbs up to more consolidation and rig retirements
Friday, August 15,2025,07:39
Top-tier shallow-water driller wants to see more consolidation, and older rigs removed .. read more..
Talos Energy appoints new CFO, brings in new exploration chief
Friday, August 15,2025,07:36
Interim finance boss Babcock to resume role of chief accounting officer, with former Marathon VP brought in as CFO .. read more..
Indian Oil Corp. Buys Another U.S. Crude Cargo
Friday, August 15,2025,07:15
Indian Oil Corp has bought another cargo of U.S. West Texas Intermediate for delivery in October, Reuters reported today, citing unnamed industry sources. The deal is part of a recent streak of U.S. oil purchases following President Trump’s threat to impose additional tariffs on Indian exporters to the United States if the country continues buying Russian crude. The October deal was priced at a premium of between $2.80 and $2.90 to dated Brent, Reuters’ sources said. It is price that pushed India to step up Russian oil purchases in… .. read more..
FPSO owner quietly confident about redeployment of vessel from the UK
Friday, August 15,2025,06:57
Bluewater is favoured for the Sea Lion project in the Falkland Islands .. read more..
China’s Coal and Gas Generation Soars Amid Record Heat
Friday, August 15,2025,06:00
Electricity generation from hydrocarbons in China surged to the highest in a year last month driven by record temperatures, Reuters reports, citing official Beijing data. Total generation from coal and gas rose by 4.3% last month to 602 billion kWh, as wind and solar cannot meet such swings in demand and as hydropower output declined amid typical summer drought conditions. The report noted, however, that overall, electricity generation from coal and gas has been on a downward trend since the start of the year and that 2025 may become the first… .. read more..
EU faces new challenges from growing reliance on imported LNG
Friday, August 15,2025,05:44
The European Union's latest gas roadmap is aiming to eradicate Russian energy from the bloc's energy mix. But in doing so it opens the region up to other potential sources of disruption .. read more..
Why a landmark ruling from the world’s top court puts financial markets on no...
Friday, August 15,2025,05:11
The International Court of Justice recently delivered its first-ever advisory opinion on the obligations of states in respect of climate change. .. read more..
India targeting tenfold rise in nuclear energy by 2047: PM Modi
Friday, August 15,2025,04:24
PM Modi announced from the Red Fort on Independence Day that India is rapidly developing 10 new nuclear reactors and aims to increase its nuclear energy capacity tenfold by 2047. Highlighting energy self-reliance, he noted major reforms in the nuclear sector, a 30-fold rise in solar capacity over 11 years, expansion of hydropower through new dams, and significant investment in the Hydrogen Mission. .. read more..
Indian Oil Corp buys 2 million barrels of US WTI crude for October: report
Friday, August 15,2025,04:19
Indian Oil Corp (IOC) has purchased two million barrels of U.S. West Texas Intermediate crude for October delivery from Mercuria. The purchase occurred at a premium of $2.80-2.90 a barrel to dated Brent. This move comes as U.S. President Donald Trump increased pressure on India to buy non-Russian oil. .. read more..
US investment powerhouse signs $11 billion deal for Middle East gas megaproject
Friday, August 15,2025,02:12
Jafurah remains a strategic priority for Aramco as the Saudi heavyweight advances several projects aimed at increasing the country's natural gas production capacity by more than 60% by 2030 .. read more..
Petronas delivering in offshore 'super basin' that some had written off
Friday, August 15,2025,02:07
Petronas Carigali succeeds with Golden Bee wildcat ahead of appraising the 2024 Bekok Deep discovery .. read more..
This week's leading oil and gas appointments
Friday, August 15,2025,01:01
.. read more..
Fears Of An Oil Price Crash On A Russia-Ukraine Ceasefire Overdone
Friday, August 15,2025,00:00
U.S. President Donald Trump has, over the past couple of weeks, renewed efforts to broker a peace deal between Russia and Ukraine, going as far as proposing the swapping of territories between the two countries. Unlike the situation during the first meeting between Trump and Russia’s President Vladimir Putin earlier in the year, Trump has adopted a far less conciliatory tone ahead of their second meeting in Alaska on August 15th, warning that Russia will face “very severe consequences” unless Putin agrees to end the war in Ukraine.… .. read more..