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Crude oil prices were set to end the week lower than they started it as Israel and Iran stopped bombing each other, alleviating fears of a supply disruption in the Middle East. At the time of writing, Brent crude was trading at $68 per barrel, with West Texas Intermediate at $65.55 per barrel. That’s down from over $77 for Brent crude and $73 per barrel for WTI at the end of last week.
In a new pilot program, the U.S. Department of Energy (DOE) issued an ambitious challenge: bring at least three advanced nuclear test reactors to criticality by July 4, 2026. Announced in June, the program sidesteps traditional Nuclear Regulatory Commission (NRC) licensing, seeking instead to authorize full-scale reactors on private sites through DOE’s internal review process. […] The post Deadline vs.
In a move with significant implications for transcontinental energy trade, the UK government has formally withdrawn support for the $34.4-billion Morocco-UK Power Project, a mega-renewables plan that would have delivered solar and wind electricity via a 3,800 km undersea cable from the Sahara Desert to Devon, Reuters reports. The project, led by British firm Xlinks and backed by TAQA, Octopus Energy, and TotalEnergies, aimed to supply 8% of the UK’s electricity needs, enough for over 7 million
October 26, 2025 Source: Kpler The Strait of Hormuz is back in the news after Israel attacked Iran and later the US hit three nuclear facilities in Iran. It is a critical chokepoint for global oil and LNG markets. It carries about 20% of global crude trade and serves as the primary conduit for up to 94% of Qatar’s LNG exports, the world’s second-largest LNG exporter after the United States.
The ongoing transition from baseload power generation to weather-dependent sources of electricity has proven quite challenging due to this dependence. Now, a team of scientists says the challenges are not insurmountable. We just need to build a globally interconnected system of wind and solar. It sounds like a huge undertaking fraught with its own challenges, and indeed it is.
Freeport LNG, located near Galveston, Texas, currently exports roughly 15 million tonnes per annum (MTPA) of LNG from three trains—when it’s actually up and running. The Freeport facility has been plagued with outages, the most spectacular of which happened in June 2022, taking the facility offline for 10 months (see Freeport LNG Plant Back to.
Demand for critical electrical equipment supply is soaring as U.S. utilities plan billions of dollars of investments in transmission and distribution to meet rising power consumption after two decades of zero growth. U.S. power utilities have announced billions of dollars in capital plans for the next few years and are getting a lot of requests from commercial users, most notably Big Tech, for new power capacity in many areas next to planned data centers.
As government policies around energy transition continue to evolve, the pace of coal plant retirements in North America has shifted in some regions, slowing in a few cases due to energy reliability concerns. But broadly speaking, many coal-fired units have already retired, leaving behind a significant legacy challenge: the long-term management of coal ash stored […] The post Reclaimed Ash: Turning Domestic, Legacy Materials into Modern Infrastructure Solutions appeared first on POWER Magaz
As government policies around energy transition continue to evolve, the pace of coal plant retirements in North America has shifted in some regions, slowing in a few cases due to energy reliability concerns. But broadly speaking, many coal-fired units have already retired, leaving behind a significant legacy challenge: the long-term management of coal ash stored […] The post Reclaimed Ash: Turning Domestic, Legacy Materials into Modern Infrastructure Solutions appeared first on POWER Magaz
Iran confirmed on Wednesday that no radioactive material leaked following coordinated U.S.-Israeli airstrikes on two of its major uranium enrichment facilities, easing immediate fears of a nuclear incident. The strikes, conducted over the weekend, targeted centrifuge halls at the Natanz and Fordow sites, according to Iranian and Western officials cited by the Financial Times.
Coterra Energy CEO Tom Jorden had a sit-down interview at the 2025 J.P. Morgan Energy, Power, Renewables and Mining Conference on Tuesday of this week. Coterra is the successor company of Cabot Oil & Gas after Cabot merged with Cimarex Energy in October 2021 (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). Cabot.
It was a sunny, unremarkable Monday in April. Demand was low, just 25 GW, well below winter peaks, and wholesale power prices hovered around €18.5/MWh as solar generation surged across the Iberian Peninsula. At first glance, the conditions seemed ideal for a high-renewables day. But behind the scenes, several things were already going wrong. A large number of high-voltage (400 kV) transmission lines in central Spain were offline for maintenance.
Are you struggling to find substations with real injection potential? In this blog, you’ll learn how developers use planning models and historical ATC data in PRISM to identify viable POIs, avoid costly surprises in the queue and confidently move forward with high-potential projects. First off, what is available transfer capacity (ATC)? ATC refers to the remaining power transfer capability from a particular substation to the transmission network.
Crude oil deliveries to the strategic petroleum reserve will be delayed by seven months due to maintenance, the Department of Energy has said. The previous administration had scheduled the addition of 15.8 million barrels into the SPR in the first five months of this year but since January, only 8.8 million barrels have been pumped into the reserve, Reuters noted in a report on the news.
The U.S. Senate proposed amendments to the One, Big, Beautiful Bill, increasing the 45Q tax credit for CO 2 enhanced oil recovery (EOR) from $60 to $85/tonne, matching the rate for permanent sequestration. From an economic standpoint, this shift could have a meaningful impact. Based on our research, even under the previous tax structure, EOR was already commercially viable both in terms of production breakeven and when compared to permanent sequestration ( Figure 1 ).
The recent commissioning of Brazil’s largest gas-fired thermal plant is set to raise the country’s annual gas consumption for power generation by at least 6 million cubic meters per day (MMcmd) from July to November – representing a 23% year-on-year rise. Gas Natural Acu’s (GNA) 1.7-gigawatt (GW) GNA II power plant began commercial operations on 31 May, accounting for approximately 8% of the country's total gas-fired installed capacity.
Natural Gas Inventories as of June 20, 2025 The EIA has released its natural gas inventory report, showing a net increase of 96 Bcf as of June 20, 2025. Working gas in storage was 2,898 Bcf as of Friday, June 20, 2025, according to EIA estimates. This represents a net increase of 96 Bcf from the previous week. Stocks were 196 Bcf less than last year at this time and 179 Bcf above the five-year average of 2,719 Bcf.
Sudan and South Sudan have not reached an agreement during discussions on revised oil export fees which South Sudan pays to Sudan to export oil from its ports, local outlet Radio Tamazuj reported on Thursday, quoting technical sources and officials. South Sudan, a landlocked country in East Africa, broke from Sudan in 2011 and took with it around 350,000 barrels of day (bpd) in oil production at the time.
EQT Corporation, the largest Marcellus/Utica producer by the volume of M-U molecules produced, published its 2024 Environmental, Social and Governance (ESG) Report, titled “Promises Made, Promises Delivered,” on Tuesday. According to the announcement and the report, EQT has become the world’s first large-scale traditional energy company to achieve net zero Scope 1 and Scope 2.
Previously, we reported that the United States is witnessing a power storage boom, with a 15-fold increase in utility-scale battery storage capacity since 2020 to nearly 30,000 megawatts (30 GW). Nineteen states have installed at least 100 MW of utility-scale battery storage, driven largely by falling battery costs. However, this surge in battery capacity pales in comparison to China’s hydropower growth.
(BOE Report) – CALGARY – Canada’s biggest crude oil shipper says a lot needs to happen before it would propose a new pipeline to the West Coast. Alberta Premier Danielle Smith has said she wants to see a pipeline running from her province to the Port of Prince Rupert, B.C., so that more oilsands crude can be exported to Asia by tanker. She told a news conference Tuesday that the province has been in “active conversations” with pipeline companies and is “pretty close” to having a one or mor
Spot rates for very large crude carriers (VLCCs) sailing from the Persian Gulf to Asia have fallen sharply in recent days, as military tensions near the Strait of Hormuz subside and shipping flows resume a more stable pattern. Charterers that had paused bookings or rerouted vessels in mid-June amid fears of an Iranian blockade have begun re-entering the market, easing pressure on freight.
Digital oilfield advances have transformed many facets of the energy enterprise, yet when it comes to partner data sharing, the industry is stuck in a rut. Sensitive financial data and personally identifiable information (PII) are routinely sent to working interest, mineral and royalty owners by USPS and email. The large-scale flow of revenue statements, JIBs, division orders, and 1099s (among many other document types) not only poses risks from theft or loss of royalty checks and PII, but workf
A new oil and gas project in the North Sea has been greenlit by Norwegian oil major Equinor and its Fram partners, which plan to invest NOK 21 billion or USD$2 billion. Equinor Energy owns 45 percent of the Fram Sør project, Vår Energi ASA holds 40 percent and INPEX Idemitsu Norge AS has 15 percent. The plan for development and operations was submitted on Thursday to Norway’s Minister of Energy.
The sun rises on a wellsite in North Dakota where hydraulic fracturing operations have been running through the night. A line of water-hauling trucks idles nearby, keeping a steady supply flowing downhole. Handwritten field tickets for those loads exchange hands, only to get stuffed in a truck door or tossed onto a dashboard. With up to 100 loads of water per frac job, those paper field tickets pile up fast – and each one represents revenue waiting to be captured.
A sanctioned LNG tanker appears to be headed for the sanctioned Arctic LNG 2 project in Russia, vessel-tracking data on Bloomberg showed on Thursday, in what could be another attempt by Russia to load LNG and try to find buyers. The LNG tanker Iris, which is blacklisted by the U.S., was headed on Thursday to the Arctic LNG 2 facility. The tanker flashed destination at Sabetta, the terminal at the Yamal LNG, which is not under sanctions.
Ganfeng Lithium's 12GWh Energy Storage Battery PACK Project Set for Trial Production! OnJune23,JiangxiGanfengLithiumBattery'sNewBatteryResearchInstituteandPACKIntegrationProjectisnearingtrialproduction.Currently,fourcorefactorybuildings.
Russia has seized a village near Shevchenkove in eastern Ukraine, just kilometers from a major untapped lithium deposit, according to a pro-Russian local official cited by Reuters on Wednesday. The area lies close to the Kruta Balka site, one of Ukraine’s most valuable hard-rock lithium prospects, raising fresh alarm over Europe’s long-term access to critical energy transition materials.
(World Oil) – (Bloomberg) — Shell Plc denied a Wall Street Journal report that it is in active talks about acquiring its London-based oil rival bp Plc. “This is further market speculation. No talks are taking place,” a Shell spokesperson said. bp surged as much as 10% in New York earlier on Wednesday on the report that it was in early-stage takeover talks with Shell.
Apple’s position in the rapidly evolving artificial intelligence landscape is increasingly precarious. While rivals such as Google, Microsoft and even Samsung have surged ahead by integrating large language models (LLMs) and generative AI into their products, Apple’s progress has been notably cautious and incremental. Commentators and insiders alike question whether Apple is losing the race to harness one of the most critical technology revolutions of the decade.
Via Metal Miner British Steel has secured a 5-year agreement to supply rail to Network Rail, the infrastructure manager of the UK’s rail network. Under the tenets of the deal, the steelmaker will provide 70,000 to 80,000 metric tons per year. In a June 17 statement, British Steel reported that the contract is worth £500 million (almost $673 million) and has an option to extend by three years.
Oil is flat but inventories have been good this week so fundamentals seem solid. Pharos has a new Chairman, Petro Mtad has finals and NTOG is now Buccaneer Energy. The post Oil price, Pharos, Petro Matad, NTOG. And finally… appeared first on Malcy's Blog.
For the past few years, Central Asian states focused on settling border disputes and forging stronger trade connections among themselves. Now it seems they are ready to broaden their horizons to include Mongolia, a country with strong cultural and historical ties to the region, but which, until now, has been largely forgotten as a trade partner.
Just as the pandemic began to unfold in early 2020, Shell pulled out of a 50/50 joint venture partnership with Energy Transfer (ET) to build a new LNG export facility in Lake Charles, Louisiana (see Shell Pulls Out of Lake Charles LNG Project, Energy Transfer Stays). Bad move on Shell’s part, if you ask us.
On Monday June 23, 2025, Iran launched a missile strike on the U.S. Al-Udeid Air Base in Qatar—a retaliatory move following U.S. airstrikes on Iranian nuclear facilities over the weekend. Explosions were reported near Doha, and additional strikes were reported against American assets in Iraq. We would normally expect such developments to send oil prices soaring.
Every last Republican in the Pennsylvania Senate and all but one Democrat voted to confirm a group of officials nominated by Governor Josh Shapiro to serve in his administration. Among them was the extremely partisan (we would argue grossly unqualified) Jessica Shirley to be the Secretary of the Department of Environmental Protection (DEP). She can.
June 26, 2025 Note: There will be no Daily Energy Report tomorrow. Chart of the Day Bloomberg: China LNG Imports Set to Fall for Eighth Month, Kpler Data Show Share Summary China's LNG imports are expected to decline for the eighth consecutive month, with June imports projected to be about 12% lower than last year. Increased piped gas from Russia and Central Asia, growing domestic production, and high spot prices are driving this decline, though warmer weather may boost demand in the coming mont
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