OilPrice

JULY 14, 2025

As Guyana consolidates its position as a global offshore heavyweight, attention is shifting across the maritime border to Suriname. The geology is familiar, the operators are credible, and the development timelines are beginning to crystallize. What remains unclear is how far and how fast Suriname can go, and whether it intends to follow Guyana's high-volume path or chart a more calibrated trajectory.

Oil 250

Oil Offshore Operator IT 250

OilPrice

JULY 13, 2025

Crude oil markets have turned out to be tighter than most analysts appeared to expect, and are ready to absorb OPEC+’s higher-than-forecast supply boost next month. For proof, look no further than oil prices after the latest OPEC+ announcement that took traders and analysts by surprise. On Monday, after OPEC+ said it would add more than half a million barrels daily to its combined output, Brent crude was trading at around $68 per barrel.

Oil 337

Oil Barrel Crude Oil IT 337

OilPrice

JULY 13, 2025

The world’s solar power capacity has risen dramatically in recent years, as governments have invested in a green transition and energy companies have taken advantage of favourable renewable energy policies. In addition to the growth in utility-scale solar power, more households across a wide range of countries have invested in solar panels. In line with the increase in demand, solar companies have started to offer a wider range of panels, suitable for non-conventional spaces, to provide more con

Utilities 203

Utilities Government Energy Energy 203

OilPrice

JULY 13, 2025

To meet the rising demand for energy and the increase in global renewable energy capacity, there is a clear need to expand critical mineral mining activities. Mining for metals and minerals, such as cobalt, copper, and lithium, has increased significantly in recent years and is expected to keep rising in line with the growing global demand.

Government 186

Government Energy Energy 186

OilPrice

JULY 12, 2025

Since the Russian invasion of Ukraine in February 2022, the European Union has been working to decrease its dependence on Russian energy. The EU responded to Russia’s invasion by introducing sanctions on a range of energy products, including oil and gas, which it has gradually strengthened over the last three years as the region has reduced its reliance on Russian energy.

Gas 233

Gas Energy Energy Oil 233

OilPrice

JULY 12, 2025

Many countries need to invest heavily in upgrading their electrical grid system, as vast quantities of renewable energy get connected, many from non-conventional energy-producing regions. In most countries, the transmission network was built several decades ago around conventional power plants in energy hubs. However, as countries increase their green energy capacity and decentralise energy production, most grid systems cannot cope with the influx of electricity from alternative regions at varyi

Energy 186

Energy Energy Government 186

OilPrice

JULY 11, 2025

India has sharply increased its crude oil imports from the United States and Brazil in the first half of 2025, marking a strategic deepening of ties with non-OPEC suppliers amid heightened global volatility and supply risk recalibrations. According to new data from S&P Global Commodity Insights cited by Indian media outlets, US crude shipments to India rose 51% year-on-year to 271,000 barrels per day between January and June, up from 180,000 bpd a year earlier.

Oil 290

Oil Crude Oil Barrel IT 290

OilPrice

JULY 11, 2025

We continue to watch Libya unravel as rival power centers attempt to reassert territorial and institutional control, but international oil majors are re-engaging nonetheless, and analysts like to opine that their big oil money could help stabilize the country. That is a possibility; however, the reverse is currently more likely unless Benghazi and Tripoli find a way to split the spoils (as the only thing that would prevent another civil war).

Oil 167

Oil Government 167

OilPrice

JULY 11, 2025

India should boost its petrochemicals production to meet local demand and counter China’s growing global lead in the sector, a senior executive at India’s top private refiner, Reliance Industries, said on Friday. India needs to bolster its petrochemicals presence as China is taking over “the entire petrochemical industry”, Vikram Sampat, senior vice-president, strategy and business development, for the polyester chain at Reliance Industries, said at an industry conference, as carried by Reuters.

IT 225

IT 225

OilPrice

JULY 11, 2025

Russia’s export revenue from crude oil and petroleum products slumped by 14% in June compared to the same month last year, the International Energy Agency (IEA) said in its monthly report published on Friday. The Kremlin received $13.57 billion from sales of crude and refined oil products last month, down by nearly 14% from a year earlier, according to the IEA’s estimates.

Oil 244

Oil Crude Oil Petroleum Barrel 244

OilPrice

JULY 11, 2025

The high dependence on oil for state revenues is squeezing Alaska’s budget when oil prices decline and making its economy grow below the national average. The struggling economy amid volatile oil prices is the key reason why Alaska has been rated as the worst state for doing business in America in 2025 by CNBC. Alaska ranks 50th in CNBC America’s Top States for Business rankings in 2025.

Oil 250

Oil IT 250

OilPrice

JULY 11, 2025

After two years of playing the role of OPEC+ model citizen, Saudi Arabia has decided it’s time to loosen the tie—at least according to the IEA. According to the International Energy Agency, the Kingdom overshot its June production quota by a whopping 700,000 barrels per day, pumping 9.8 million bpd—the highest in two years. OPEC's official production figures are due Tuesday, and some analysts have already suggested they’ll show near-perfect compliance.

Barrel 319

Barrel Energy Energy IT 319

OilPrice

JULY 11, 2025

The total number of active drilling rigs for oil and gas in the United States slipped again this week, according to new data that Baker Hughes published on Friday, following a 8-rig decrease in the week prior. The total rig count in the US fell by 2 to 537 rigs, according to Baker Hughes, down 47 from this same time last year. The number of oil rigs fell by 1 to 424 after falling by 7 during the previous week—and down by 54 compared to this time last year.

Drilling rig 299

Drilling rig Oil Gas 299

OilPrice

JULY 10, 2025

Equinor has made a gas discovery close to its Johan Castberg oilfield in the Barents Sea and will assess a potential tie-in to the now fully operational Arctic field. Equinor and its partners in the exploration and production license have hit natural gas in the Skred prospect, in a well drilled 23 kilometers (14 miles) north of the Johan Castberg field and 210 kilometers (130 miles) northwest of Hammerfest, a major gas export facility in Norway, the Norwegian Offshore Directorate said on Thursda

Gas 230

Gas Exploration and Production Field Natural Gas 230

OilPrice

JULY 10, 2025

“There is no peak oil demand on the horizon,” OPEC Secretary General Haitham Al Ghais wrote in the foreword of OPEC’s latest World Oil Outlook (WOO), which sees global oil demand growing by about 19% from now until 2050 to reach 123 million barrels per day (bpd). In view of slowing Chinese demand growth, OPEC revised down its oil demand growth forecasts for all years between 2025 and 2029.

Oil 253

Oil Barrel IT 253

OilPrice

JULY 10, 2025

Governments and policy makers must better anticipate and prepare for energy crises before they happen, drawing from past experience and increasing diversification of supply, predictability in policy, and international cooperation, Fatih Birol, Executive Director at the International Energy Agency (IEA), said on Thursday. Many tools to tackle energy security today have been developed after crises have hit in the past.

Energy 161

Energy Energy Casing Government 161

OilPrice

JULY 10, 2025

The world will need as much as 19.5 million barrels per day (bpd) of new refining capacity by 2050 to meet rising global oil demand, OPEC said in its 2025 World Oil Outlook (WOO) with forecasts through the middle of the century. Overall, OPEC expects global oil demand to continue rising by 2050, with global oil demand projected to increase by more than 19 million bpd between 2024 and 2050, reaching nearly 123 million bpd.

Barrel 326

Barrel Oil IT 326

OilPrice

JULY 10, 2025

One of Britain’s biggest biodiesel plants is preparing to shut down in the latest blow to the government’s industrial strategy. The Greenergy plant in Lincolnshire, which is thought to produce as much as a quarter of the UK’s biodiesel, on Thursday confirmed it would begin consultation on a proposal to cease production.

Consulting 239

Consulting IT 239

OilPrice

JULY 10, 2025

So far in July, European natural gas markets have seen the lowest volatility in prices since 2021, but as summer temperatures peak in the coming weeks, demand is expected to rise, and so will the benchmark gas prices. In recent days, the historic 10-day volatility in European gas prices slumped to the lowest levels since September 2021, according to Bloomberg’s estimates.

Gas 241

Gas Natural Gas 241

OilPrice

JULY 10, 2025

France’s solar power generation hit a new record this week, sending intraday electricity prices into negative territory for several hours—a stark reminder of the volatility created by rapid swings in renewable output. At 2 p.m. Thursday, French solar output surged to 19.5 gigawatts, meeting nearly 40% of national demand, according to grid operator RTE.

Operator 274

Operator 274

OilPrice

JULY 10, 2025

The European Commission has proposed a major overhaul to its Russian oil price cap regime, introducing a floating benchmark tied to global crude prices in an effort to regain control over a sanctions tool that has lost impact as oil markets decline, Reuters reported on Thursday.

Mechanic 202

Mechanic Oil Barrel IT 202

OilPrice

JULY 10, 2025

The UK government has ruled out the introduction of a zonal energy pricing system that would have seen regions closer to renewable energy sources likelier to see lower prices. Ed Miliband’s Department for Energy Security and Net Zero has opted to reform the existing system by reviewing the way transmission charges work and incentivising the private sector to invest in renewable energy in areas of higher demand.

Energy 216

Energy Energy Consulting Government 216

OilPrice

JULY 10, 2025

Artificial intelligence is rapidly changing the world around us as our systems get smarter, and the resource and energy use of large language models grow ever larger. In the energy sector, artificial intelligence represents a double-edged sword: AI could help the sector overcome some of the hurdles involved in maintaining global energy security while we transition to cleaner alternatives, but it could also pose an existential threat to vulnerable power grids if used indiscriminately.

Energy 194

Energy Energy IT 194

OilPrice

JULY 9, 2025

Taiwan is facing an energy crisis that could prove existential. Not only is the country’s energy demand outpacing its grid’s capacities, the country is heavily dependent on energy imports, making the island nation highly vulnerable to military blockades from neighboring China. If Taiwan is not able to build up its own energy supply in a hurry, it will become increasingly difficult – if not impossible – to continue resistance against the Chinese agenda to annex the island under its One China poli

Energy 210

Energy Energy IT 210

OilPrice

JULY 9, 2025

At the recent gathering of BRICS nations in Brazil, the members’ joint statement contained an interesting assertion. BRICS leaders said that, while recognizing the need for an energy transition, they “acknowledge fossil fuels will still play an important role in the world’s energy mix, particularly for emerging markets and developing economies.” Luckily for BRICS members, they tend to be rather rich in such fuels.

Oil 265

Oil Energy Energy 265

OilPrice

JULY 9, 2025

Earnings season is here again, with second-quarter earnings season set to begin in earnest during the second full week of July. According to FacetSet Earnings Insight, companies in the S&P 500 are expected to report aggregate earnings growth of 5.0%, marking the lowest growth by the market in seven quarters. FactSet has reported that Wall Street is most bearish about the energy sector, and has lowered EPS estimates for oil and gas companies by the largest percentage amongst all 11 market sectors

Energy 245

Energy Energy Oil Gas 245

OilPrice

JULY 9, 2025

OPEC+ blindsided oil market participants, again, with a larger-than-expected oil production hike for August. Instead of the widely expected 411,000 barrels per day (bpd), the group of eight OPEC+ producers led by Saudi Arabia and Russia decided to add 548,000 bpd to their combined oil output next month. OPEC+ motivated its decision for the supersized hike with “a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories.

Barrel 216

Barrel Oil IT 216

OilPrice

JULY 10, 2025

Power utilities in the United States have applied for permission to raise electricity prices, with a demand surge from AI data centers suggested as the reason, the Financial Times reported today, citing data from PowerLines, an energy affordability advocacy. In the first half of this year, U.S. power utilities applied for price hikes of a total $29 billion, the FT said, adding this represented a 142% increase on the first half of 2024.

Utilities 191

Utilities Energy Energy 191

OilPrice

JULY 10, 2025

Utilities across the European Union boosted electricity output from gas and coal plants by 13% in the first half of 2025 from a year earlier—the biggest annual increase for January to June since 2017, according to data from clean energy think tank Ember cited by Reuters market analyst Gavin Maguire. Gas-fired power plants saw generation jump by 19% to the highest level in three years.

Utilities 247

Utilities Gas Energy Energy 247

OilPrice

JULY 9, 2025

India is looking to strengthen its domestic oil and gas exploration and supply with the biggest-ever acreage up for grabs under the Open Acreage Licensing Programme (OALP) Round X. “The focus is clearly on further enhancing and strengthening domestic E&P efforts,” Minister of Petroleum and Natural Gas, Hardeep Singh Puri, posted on X while visiting an offshore industry event in Bergen, Norway.

Offshore 267

Offshore E&P Natural Gas Petroleum 267

OilPrice

JULY 9, 2025

The UK government is set to drop plans to introduce zonal pricing in the country’s wholesale electricity market, following a backlash from industry saying that splitting the market into geographical areas would damage investments in renewable energy projects, the Guardian reports, citing sources. In one of the most controversial power market reforms considered in the country, the UK government has been considering the so-called zonal pricing for electricity prices in Britain to replace a nationw

Government 174

Government Energy Energy 174

OilPrice

JULY 9, 2025

Crude oil inventories in the United States increased by 7.1 million barrels during the week ending July 4, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 426 million barrels, still 8% below the five-year average for this time of year. Crude prices were trading down ahead of the report, after the American Petroleum Institute (API) on Tuesday estimated a surprise 7.1-million-barrel build for the week endi

API 192

API Crude Oil American Petroleum Institute Barrel 192

OilPrice

JULY 9, 2025

Turkish energy firms will explore for oil and gas offshore Pakistan under agreements with local companies, Turkish Foreign Minister Hakan Fidan said during a visit to Pakistan on Wednesday. “This is one of the outcomes of the more institutionalized approach we are working to establish,” Fidan said, without elaborating on the exploration drilling plans and activities.

Offshore 221

Offshore Exploration and Production Gas Oil 221

OilPrice

JULY 9, 2025

The European Union is edging closer to finally adopting its latest sanctions package, the 18th since the full-scale Russian invasion of Ukraine over three years ago. But two items still remain to be negotiated. Firstly, the price cap on Russian oil. It’s still in the draft proposal seen by RFE/RL, but there is a question whether it will remain there.

Oil 237

Oil IT 237

OilPrice

JULY 9, 2025

The long-running oil export dispute between Baghdad and the Kurdistan Regional Government (KRG) in Erbil over oil exports and public-sector salaries has now deepened, as Iraq’s Cabinet failed to address the issue in its latest session, just a day after media outlets reported that a resolution was near. According to Rudaw, the Council of Ministers on July 8 did not place the oil and salary file on its agenda, dealing a blow to expectations of imminent agreement.

Oil 239

Oil Government IT 239

OilPrice

JULY 9, 2025

Henrik Andersen, CEO of Danish wind turbine giant Vestas Wind Systems A/S, has issued a stark warning to European policymakers: without stronger and more cohesive industrial strategies, Europe may lose its edge in renewable energy manufacturing to the U.S. and other regions. “Wind is largely a European creation — born in our universities, tested on our sites,” Andersen told Bloomberg News.

Energy 164

Energy Energy Manufacturing IT 164

OilPrice

JULY 9, 2025

Saudi Aramco is in advanced talks to acquire 2 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the U.S.-based Commonwealth LNG terminal in Cameron, Louisiana, according to an exclusive Reuters reported on Wednesday. The potential deal would further cement Aramco’s push into the global LNG market as it accelerates efforts to diversify beyond crude oil exports.

Crude Oil 241

Crude Oil Natural Gas Oil Gas 241