Middle East giant teams up with Microsoft to advance AI push
Friday, February 13,2026,06:28
Leading Middle East state energy giants, including Aramco and Adnoc, are scaling up their AI portfolio, aimed at optimising operations and enhancing their digital capabilities .. read more..
Namibia: Rivals submit fresh prices for TotalEnergies' Venus FPSO
Friday, February 13,2026,06:05
Supermajor's chief executive optimistic about final investment decision in mid-2026 .. read more..
JV wins O&M scope for Indonesia's first FLNG project
Friday, February 13,2026,00:34
Maiden cargo from Genting's development offshore West Papua expected by March 2027 .. read more..
U.S. Budget Deficit Set to Rise Again Amid Trump Tariffs and Tax Cuts
Friday, February 13,2026,00:00
Last year, U.S. Treasury Secretary Scott Bessent set a target to cut the U.S. federal budget deficit to just 3% of GDP by the end of President Donald Trump’s second term. The deficit reduction was a key component of his "3-3-3" economic plan, with the other two being achieving 3% real GDP growth and increasing energy production by 3 million barrels a day by 2028. The plan relies on spending constraints, regulatory reforms, and tariff revenue to narrow the deficit. With Trump now completing the first year of his second term, energy and… .. read more..
Petronas embarking on frontier exploration offshore Oman
Thursday, February 12,2026,23:25
Malaysian company will partner OQEP on large asset with significant potential .. read more..
How a Snow Deficit in the Alps Will Put Europe’s Energy System Under Pressure
Thursday, February 12,2026,23:00
Europe’s gas demand could rise even higher at the end of this winter, making it even more challenging to refill storage that has been depleting at the fastest pace in years. So far into 2026, snowfall and snow coverage in the Alps, which feed a large part of the hydropower generation in Austria and northern Italy, have been well below average, Reuters columnist Gavin Maguire notes. With potentially lower hydropower generation, if snowfall continues to be scarce, gas consumption in the… .. read more..
‘Enormous amount’ of stranded Russian oil tightens ‘real’ crude market: Vitol...
Thursday, February 12,2026,22:56
Traditional buyers of Russian and Iranian crudes now seeking more Western or Saudi Arabian crudes, says Vitol chief executive Russell Hardy .. read more..
State giant triggers race for $6 billion-plus package on giant gas development
Thursday, February 12,2026,22:52
BGC development would unlock three undeveloped gas cap reservoirs, with output sent to new gas plant .. read more..
TotalEnergies picks US contractor for completions work offshore Denmark
Thursday, February 12,2026,22:45
Weatherford wins integrated deal with French supermajor .. read more..
This week's leading oil and gas appointments
Thursday, February 12,2026,22:40
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Drilling giant secures $5 billion-plus contract awards
Thursday, February 12,2026,22:40
Company is Middle East’s largest national drilling contractor by rig count, operating an extensive fleet of onshore, jack-up and specialised island rigs .. read more..
Petronas prepares for high-impact ultra-deepwater wildcat
Thursday, February 12,2026,22:36
Multimillion-dollar contracts up for grabs to support exploration drilling expected to commence in October .. read more..
Political wranglings could undermine Malaysia's 2026 licensing round
Thursday, February 12,2026,22:35
Nation needs up to $12.8 billion in annual upstream investments, says Bacho Pilong, senior vice president at Petronas Malaysia Management .. read more..
Top hyperscalers set to boost 2026 AI spending by 70% to $600 billion. How to...
Thursday, February 12,2026,22:27
Tech investors told CNBC that they were watching 'pick-and-shovel' infrastructure stocks, derivative power plays and semiconductor names. .. read more..
IEA: After January plunge, global oil supply is set to rebound strongly in re...
Thursday, February 12,2026,22:00
Highlights Global oil demand is forecast to rise by 850 kb/d in 2026, up from 770 kb/d last year. As in 2025, nonOECD economies will account for the entire increase, with China taking the lead on a country level. Petrochemical feedstock products will represent more than half of this year’s gains, compared with only a ... .. read more..
Softer gasoil/diesel values drag refining margins lower in the US and Asia
Thursday, February 12,2026,22:00
Some of the uncertainty regarding the EU’s latest sanction package seems to have been lifted but fundamentals should provide a floor to middle distillate values. With refinery offline capacity getting more intense in the upcoming weeks, we maintain our positive view on refining margins. Market & trading calls Light Ends: West of Suez naphtha cracks ... .. read more..
Chevron makes long-awaited Libya return, Repsol and Eni also win blocks
Thursday, February 12,2026,22:00
Libya’s National Oil Corp. has awarded oil and gas exploration licenses to Chevron, Eni, Repsol and others, the state oil firm confirmed Feb. 11 while announcing the results of its first post-revolution bid round, marking the US supermajor’s return to Libya after a 16-year absence. In a statement, the NOC said it had awarded exploration ... .. read more..
Global Land Rigs Newsletter – 4Q 2025
Thursday, February 12,2026,22:00
Quarterly Summary 4Q 2025 saw average Brent prices of US$63.63/bbl, a 14.7% year-on-year price contraction. This was a result of oversupply averaging 1.9mmbpd in 4Q 2025, as well as an anticipated exacerbation of the supply glut in 1H 2026, potentially reaching over 3mmbpd (the highest since 2020 and the Covid pandemic). This is a result ... .. read more..
US Natgas Prices Rise after EIA Data
Thursday, February 12,2026,22:00
US natural gas futures rose to around $3.23 per MMBtu driven by strong LNG export demand and continued heavy storage withdrawals. Energy firms withdrew 249 billion cubic feet of gas from storage in the week to February 6, following a record 360 bcf draw the previous week, as prolonged Arctic cold boosted heating demand. Although ... .. read more..
Brent Crude Oil Falls on Thursday
Thursday, February 12,2026,22:00
Brent crude oil futures fell to below $69 per barrel on Thursday, retreating after a 0.9% gain in the previous session, pressured by persistent oversupply despite ongoing Iran risk. Markets remain focused on tensions around Iran as the US signaled preference for a nuclear deal but kept military options open and deployed naval forces in ... .. read more..
Europe's Clean Energy Push Creates New Geopolitical Risks
Thursday, February 12,2026,22:00
Europe is still suffering from the consequences of its decadeslong dependence on Russian energy imports. But as the bloc continues to wean itself off of Russian oil and gas, Europe is facing new and compounding energy dependence threats from the United States and China. European policymakers are in a tough spot, literally and figuratively sandwiched between a massive and high-stakes battle for global energy supremacy. When Russia illegally invaded Ukraine in February of 2022, Europe as a whole depended on the Russian producers for 40 percent… .. read more..
Why the AI Boom May Extend the Reign of Natural Gas
Thursday, February 12,2026,21:00
Artificial intelligence is often viewed as a catalyst for electrification and subsequently decarbonization. Yet one of its most immediate effects may be the opposite of what many assume. The rapid buildout of AI infrastructure is increasing demand for reliable power, and that reality could strengthen the role of natural gas and other dispatchable energy sources for many years. Investors focused on semiconductors and software valuations may be overlooking a key constraint. AI runs on electricity, and those electricity systems operate within physical… .. read more..
Trump revokes EPA finding on greenhouse gas threat in huge blow to climate ch...
Thursday, February 12,2026,20:47
EPA Administrator Lee Zeldin officially revoked the endangerment finding, in a huge blow to U.S. efforts to fight climate change. .. read more..
U.S. Strategy in Armenia and Azerbaijan Includes Nuclear and AI
Thursday, February 12,2026,20:00
Vice President JD Vance’s visit to Armenia and Azerbaijan succeeded in widening the scope of US economic engagement with the two South Caucasus nations. In the months immediately after Armenia and Azerbaijan signed a provisional peace deal in Washington last August, the Trump administration’s focus was on the development of the Middle Corridor trade and logistics network. But now other sectors, including civilian nuclear energy, arms sales and artificial intelligence, are part of the discussion. Vance’s stop in Baku on February… .. read more..
Oil Prices Drop 3% After IEA Cuts Demand Growth Outlook
Thursday, February 12,2026,19:17
Oil prices dropped Thursday after the International Energy Agency cut its demand growth outlook, a revision that landed in a market already uneasy about how quickly supply is said to be rising. Brent crude traded near $67 a barrel in the afternoon, down roughly 3% on the session. U.S. WTI slipped into the $62s. Selling accelerated after the IEA trimmed its 2026 global demand growth forecast to 850,000 barrels per day. A month ago, it was expecting 930,000. The number itself is not as dramatic as the context. The agency still sees global supply… .. read more..
'Exploration is moving back up the agenda', says TGS CEO
Thursday, February 12,2026,19:01
Oil and gas demand strong and exploration back on agenda, says CEO Johansen .. read more..
Data center gas demand draws rigs to underdeveloped Haynesville play
Thursday, February 12,2026,19:00
Comstock Resources says data center growth driving drilling investment decisions. .. read more..
Trump Disavows Oil Executive’s Role in Venezuela Talks
Thursday, February 12,2026,18:38
President Donald Trump on Thursday rejected any suggestion that a private U.S. oil executive is shaping Washington’s approach to Venezuela, stepping into a sensitive debate over who gets influence in the future of the world’s largest stranded crude reserves. In a post on Truth Social, Trump said Florida fuel trader Harry Sargeant III has no authority to act on behalf of the United States and that only State Department-approved officials conduct diplomacy with Caracas. He described current relations with Venezuela as strong and credited… .. read more..
Mergers ‘path forward’ for offshore drillers: Noble CEO
Thursday, February 12,2026,18:31
Company still has scale to compete with combined Transocean-Valaris competitor, Robert Eifler said .. read more..
Electricity prices rising by double the rate of inflation. Data center demand...
Thursday, February 12,2026,18:11
The impact of the AI industry on electricity prices has turned into a major political flashpoint ahead of the midterm elections this November. .. read more..
Energy use of EU economy: -4.1% in 2023
Thursday, February 12,2026,18:00
In 2023, the EU economy’s net domestic energy use was 56.1 million terajoules (-4.1% compared with 2022). Businesses and governments consumed 72.3% for their production activities, and the remaining 27.7% was consumed directly by households. When considering energy use by economic activity, manufacturing was responsible for the largest share of net domestic energy use (14.3 ... .. read more..
Cuba’s Energy Crisis Deepens Amid U.S. Tariffs
Thursday, February 12,2026,18:00
Cubans are struggling with blackouts and fuel rationing amid President Trump’s campaign to provoke regime change by choking off the energy supply of the island nation, which is heavily dependent on fuel imports. Trump last month threatened to impose tariffs on any country that sends oil to Cuba, labelling the island “an unusual and extraordinary threat” to U.S. national security. He noted the Cuban government’s relations with Russia, China, and Iran as evidence of that threat, which, Trump suggested, would present as “migration… .. read more..
BPCL plans petrochem park near Bina Refinery in MP
Thursday, February 12,2026,17:55
Bharat Petroleum Corporation Ltd is planning a petrochemical park near its Bina refinery in Madhya Pradesh. This initiative aims to boost value addition and support local industries. The company is expanding its Bina refinery and integrating a petrochemical complex. This project will supply ethylene to downstream units via pipelines. The expansion is expected by May 2028. .. read more..
Power sector's legacy dues fall to Rs 4,109 crore in February
Thursday, February 12,2026,17:29
Power sector legacy dues have seen a dramatic reduction. From Rs 1.40 lakh crore in June 2022, outstanding amounts have fallen to Rs 4,109 crore by February 2026. This significant decrease is a direct result of the government's Electricity (Late Payment Surcharge and Related Matters) Rules, 2022. .. read more..
Ukrainian Drone Strike Halts Major Russian Refinery in Volgograd
Thursday, February 12,2026,17:27
Russia’s Volgograd oil refinery suspended oil processing on Wednesday after a Ukrainian drone attack triggered a fire at the plant. The Lukoil-owned refinery is a major Russian oil processing facility in Volgograd City in southern Russia. The refinery has been operating since 1957 with a capacity of ~300,000 bpd (14.5 million tons/year), and processed an estimated 13.5–13.7 million metric tons of oil in 2024. The facility produces gasoline, diesel, kerosene, and lubricants, with recent modernizations focused on increasing efficiency… .. read more..
Trump and Xi Seek Short Term Wins as Summit Nears
Thursday, February 12,2026,17:00
The United States and China are seeking to preserve their fragile trade truce before President Donald Trump visits Chinese President Xi Jinping for a high-stakes summit in Beijing this spring, according to the South China Morning Post. On the sidelines of the 2025 APEC summit in Busan, South Korea, Trump and Xi held a pivotal meeting that produced a significant—though temporary—trade agreement. Following months of escalating tariffs, curbs on rare-earth exports, and agricultural boycotts, the two leaders agreed to a one-year truce that… .. read more..
Top Trader Sees Sanctions Tightening Market and Lifting Oil Prices
Thursday, February 12,2026,16:30
The sanctions squeeze on oil supply from Russia and Iran are tightening the oil market and supporting crude prices as buyers look for additional legit barrels while sanctioned supply is piling in floating storage, according to the world’s biggest independent oil trader, Vitol. “The traditional buyers of those two supply sources are reaching for more Western or Saudi supply sources, which is then in turn tightening the real market,” Vitol’s CEO Russell Hardy said at the International Energy Week conference in London… .. read more..
OPEC+ Oil Production Falls by 439,9000 Bpd
Thursday, February 12,2026,16:00
Crude oil production from the OPEC+ alliance slumped by as much as 439,000 barrels per day in January compared to December as a major supply disruption in Kazakhstan added to lower output from Iran and Venezuela, OPEC data showed in its Monthly Oil Market Report (MOMR). Total OPEC+ crude oil production averaged 42.45 million barrels per day (bpd) in January 2026, down by 439,000 bpd versus December, as Kazakhstan’s output plummeted by 249,000 bpd, according to the OPEC estimates based on secondary sources. Kazakhstan’s… .. read more..
Electricity prices are rising by double the rate of inflation. Data center de...
Thursday, February 12,2026,15:45
The impact of the AI industry on electricity prices has turned into a major political flashpoint ahead of the mid-term elections this November. .. read more..
SC refuses to pass any order related to Adani Group's proposed thermal power ...
Thursday, February 12,2026,15:39
The Supreme Court on Thursday declined to halt the Adani Group’s proposed thermal power plant in Uttar Pradesh and sought responses from the state and Central governments. A bench led by Chief Justice of India Surya Kant said no order would be passed without reviewing replies, noting the need to balance environmental concerns with development as the state may face a power deficit. .. read more..
Inpex Warns Of Looming LNG Crunch in Asia
Thursday, February 12,2026,15:30
Japan’s Inpex expects an LNG supply shortfall in the Pacific coastal region, including Asia, in 2035, as demand will nearly double from current levels, the oil and gas major said in its 2025 earnings report on Thursday. Global LNG demand is expected to increase to about 700 million tons per year in 2035, up from the current level of around 400 million tons annually, according to the Japanese company, which operates the Ichthys LNG project offshore Western Australia. “Demand will be concentrated in the Asia–Oceania… .. read more..
After weeks of tension, Trump is still talking tough on Iran. Here's what cou...
Thursday, February 12,2026,15:17
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SLB wins offshore drilling pacts for giant Asia gas development
Thursday, February 12,2026,15:17
Mubadala Energy picks major contractor for Tangkulo work in Indonesia waters .. read more..
India will buy US LNG if offered at reasonable price, Petronet CEO says
Thursday, February 12,2026,15:05
India will purchase U.S. liquefied natural gas if it is available at competitive prices, Petronet LNG chief Akshay Kumar Singh said, as New Delhi considers boosting imports from Washington. .. read more..
NATO’s Arctic Sentry Formalizes the Race for the High North
Thursday, February 12,2026,15:00
NATO officially launched its Arctic Sentry mission on February 11 in a bid to improve the military posture of the alliance in the Arctic region. The move follows recent tensions between NATO allies Denmark and the United States over the political future of Greenland. When it was first mooted last month, several diplomats told RFE/RL that a potential Arctic mission could be a way out of a growing crisis. Following a meeting between US President Donald Trump and NATO Secretary-General Mark Rutte last month in Davos, Switzerland, it was agreed that… .. read more..
Industry lobby calls for energy revival ahead of Scottish elections
Thursday, February 12,2026,14:36
Scottish parliamentary election will be held on 7 May .. read more..
Shipping Giants Forge Ahead with Green Investments Despite Carbon Price Collapse
Thursday, February 12,2026,14:00
Despite a collapse of talks over a global carbon price in the shipping industry, most major players continue with their investments in emission-reducing fuels and vessels, according to Reuters analysis of data and interviews with shipping firms, ship brokers, bunker suppliers, and marine technology providers. Last year, the United Nations agency, the International Maritime Organization (IMO), discussed for months a proposed adoption of the so-called Net-Zero Framework, initially proposed in 2023. The framework includes a global fuel… .. read more..
Abu Dhabi investor confirms its participation in Argentina LNG
Thursday, February 12,2026,13:26
Eni, YPF and XRG targeting final investment decision later this year .. read more..
‘Golden province’: TotalEnergies eyes 200,000 bpd FPSO for Namibia's Mopane f...
Thursday, February 12,2026,13:13
Supermajor's executives believe first Mopane project could be sanctioned in 2028 .. read more..
Trump orders Pentagon to buy power from coal plants
Thursday, February 12,2026,13:12
Trump declared coal essential to U.S. national and economic security last April. .. read more..