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Recent Briefs

15Jan

Woodside signs LNG supply agreement with JERA for winter deliveries

Woodside Energy Trading Singapore Pte Ltd has executed a Sale and Purchase Agreement with JERA Co., Inc. for the supply of three LNG cargoes per year, totaling approximately 0.2 million tonnes, starting in 2027. The LNG will be delivered during Japan's peak winter months, enhancing energy security and supply resilience for JERA. This agreement builds on previous collaborations and reflects Woodside's commitment to reliable energy supply in Asia.

4 storiesThursday

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14Jan

BP forecasts up to $5 billion impairments in Q4 for energy transition assets

BP expects to record impairments of $4-5 billion in Q4, primarily related to its gas and low carbon energy segment. Upstream production is projected to remain flat, while oil trading results are weak for the second consecutive quarter. BP's net debt is anticipated to decrease to $22-23 billion by the end of 2025, aided by $5.3 billion in asset sales.

4 storiesWednesday

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13Jan

Benin offshore oil production set to resume after 28 years

Oil production offshore Benin is expected to resume by the end of January 2026 after being shut down in 1998. Akrake Petroleum plans to start production at the Seme Field following the drilling of production well AK-2H. The field previously produced 22 million barrels of oil before its closure due to low prices and high water volumes.

4 storiesTuesday

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12Jan

Trump's offshore wind power crackdown raises global investor costs

President Trump's ban on offshore wind projects in the U.S. is creating uncertainty that may increase global capital costs for the wind power industry. Executives from Vestas and Equinor report that halted projects and reduced investor confidence could lead to higher returns demanded by investors. The suspension of projects like Empire Wind 1, which was 60% complete, has further complicated the investment landscape.

4 storiesMonday

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11Jan

U.S. and China diverge on energy policy amid global energy transition

Global economies are increasingly divided on energy policy, with the U.S. focusing on fossil fuels while many nations pursue clean energy. At the COP30 climate conference, over 80 nations supported a transition away from fossil fuels, but petro-states, including the U.S., opposed this direction. The rise of AI and energy demand is pushing nations to reconsider their energy strategies, highlighting the tension between fossil fuel reliance and the push for renewable energy.

4 storiesSunday

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10Jan

Venezuela's oil production faces significant challenges

Venezuela's potential to produce oil is hindered by heavy oil characteristics, damaged infrastructure, and political instability. Experts emphasize that reviving production will be a lengthy and costly process rather than a quick fix. The complexities surrounding Venezuela's oil reserves highlight the challenges in transitioning from potential to actual production.

4 storiesSaturday

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9Jan

TotalEnergies secures offshore exploration permit in Lebanon's Block 8

TotalEnergies has signed an agreement with the Lebanese government to obtain an offshore exploration permit for Block 8 in the eastern Mediterranean. The company holds a 35% stake in the permit, partnering with Eni and QatarEnergy, each also holding 35% and 30%, respectively. This move follows TotalEnergies' previous drilling efforts in Block 9, which did not yield positive results.

4 storiesFriday

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8Jan

Shell's chemicals division expects Q4 loss due to lower margins

Shell anticipates its chemicals and products division will incur a loss in Q4 2025, driven by a decline in chemicals margins from $160 to $140 per ton. The company expects adjusted earnings to fall below break-even, influenced by a deferred tax adjustment in a joint venture. In contrast, refining margins are projected to rise to $14 per barrel, up from $12 per barrel in Q3 2025.

4 storiesThursday

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7Jan

Murphy Oil drills appraisal well, boosts resource outlook at Hai Su Vang field offshore Vietnam

Murphy Oil Corporation drilled the Hai Su Vang-2X appraisal well offshore Vietnam, confirming a larger hydrocarbon column with 429 feet of net oil pay. The well produced 6,000 barrels of oil per day and increased the midpoint of recoverable resources to over 430 million barrels of oil equivalent. Murphy plans to continue its appraisal program with two additional wells.

4 storiesWednesday

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6Jan

China reduces Venezuelan oil purchases as price discount narrows

Chinese oil buyers have decreased their intake of Venezuelan oil as the discount between Brent and Merey crude fell from $15 to $13 per barrel. The U.S. naval blockade has disrupted tanker traffic, leading PDVSA to consider shutting down 15% of its production due to storage issues. Despite this, tankers continue to leave Venezuela with crude oil, including shipments to China.

4 storiesTuesday

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5Jan

Egypt signs LNG supply deal with QatarEnergy for 24 cargoes

QatarEnergy and the Egyptian government have signed a preliminary deal for at least 24 LNG cargoes this year, worth $35 billion. This agreement aims to diversify Egypt's energy sources amid declining domestic gas production, which peaked in 2021 at 6.6 billion cubic feet daily. Egypt's gas imports from Israel have also increased, accounting for a fifth of total imports.

4 storiesMonday

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4Jan

US military operation removes Maduro, targets Venezuela's oil sector

The US executed a military operation in Venezuela, ousting President Nicolas Maduro. The US plans to manage the country and its oil sector during a transition period.

4 storiesSunday

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3Jan

US sanctions impact Venezuela's oil exports and storage capacity

The U.S. has imposed new sanctions on four companies and associated oil tankers operating in Venezuela's oil sector, significantly reducing oil exports to about half of their November levels. The sanctions have led to an accumulation of residual fuel in Venezuela's storage tanks, forcing state-run PDVSA to explore extreme measures to avoid shutting down refining units. Despite the blockade, some tankers continue to arrive in Venezuela, indicating ongoing efforts to manage storage and maintain crude sales.

4 storiesSaturday

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2Jan

Baker Hughes and Cactus finalize joint venture in surface pressure control

Baker Hughes has completed its joint venture with Cactus, Inc., contributing its surface pressure control product line. Cactus holds a 65% equity stake, while Baker Hughes retains 35%. The transaction generates $344.5 million in cash proceeds, enhancing Baker Hughes' balance sheet and capital efficiency.

4 storiesFriday

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Daily Energy Briefs

Recent Briefs

Woodside signs LNG supply agreement with JERA for winter deliveries

BP forecasts up to $5 billion impairments in Q4 for energy transition assets

Benin offshore oil production set to resume after 28 years

Trump's offshore wind power crackdown raises global investor costs

U.S. and China diverge on energy policy amid global energy transition

Venezuela's oil production faces significant challenges

TotalEnergies secures offshore exploration permit in Lebanon's Block 8

Shell's chemicals division expects Q4 loss due to lower margins

Murphy Oil drills appraisal well, boosts resource outlook at Hai Su Vang field offshore Vietnam

China reduces Venezuelan oil purchases as price discount narrows

Egypt signs LNG supply deal with QatarEnergy for 24 cargoes

US military operation removes Maduro, targets Venezuela's oil sector

US sanctions impact Venezuela's oil exports and storage capacity

Baker Hughes and Cactus finalize joint venture in surface pressure control