With the US in the midst of a gas demand boom driven by liquefied natural gas (LNG) projects and surge in electricity demand amid the steady buildout of data centers, the Western Haynesville has increasingly garnered attention as a promising source of future supply. The area, located roughly 150 miles north of Houston, Texas, in the Robertson, Freestone and Leon counties, has seen 60 wells drilled over the past four years. The wells are twice as productive as the median legacy Haynesville wells, but are as much as triple the drilling and completion…

Two conferences in the Middle East this month opened insights on energy and sustainability from a Middle Eastern perspective. The enormous ADIPEC event in Abu Dhabi brought together hundreds of speakers in 10 different strategic areas and numerous technical sessions across four days.   Discussion of sustainability occurred within the context of an imperative for investment to sustain growth in all forms of energy and especially oil and gas. The spotlight was also on AI which received praise for already providing remarkable efficiency gains…

Serbian authorities have reassured citizens that the country has sufficient fuel reserves to supply the domestic market, with the fate of the country's only refinery, Naftna Industrija Srbije (NIS), hanging in the balance. "The economy and citizens have no reason for concern, as there are sufficient quantities of all petroleum derivatives," the government statement said, with Energy Minister Dubravka Djedovic Handanovic saying the government is ready to use mandatory reserves if need be. Russia's Gazprom Neft and Gazprom affiliates are the majority…

Serbian authorities have reassured citizens that the country has sufficient fuel reserves to supply the domestic market, with the fate of the country's only refinery, Naftna Industrija Srbije (NIS), hanging in the balance. "The economy and citizens have no reason for concern, as there are sufficient quantities of all petroleum derivatives," the government statement said, with Energy Minister Dubravka Djedovic Handanovic saying the government is ready to use mandatory reserves if need be. Russia's Gazprom Neft and Gazprom affiliates are the majority…

Serbian authorities have reassured citizens that the country has sufficient fuel reserves to supply the domestic market, with the fate of the country's only refinery, Naftna Industrija Srbije (NIS), hanging in the balance. "The economy and citizens have no reason for concern, as there are sufficient quantities of all petroleum derivatives," the government statement said, with Energy Minister Dubravka Djedovic Handanovic saying the government is ready to use mandatory reserves if need be. Russia's Gazprom Neft and Gazprom affiliates are the majority…

An Armenian $500-million initiative to develop an artificial intelligence and supercomputer hub has taken a major step forward after US regulators approved the transfer of advanced Nvidia chips. The project is being developed by Firebird, an AI startup launched in June with offices in San Francisco and Yerevan, in collaboration with the Armenian government.  At a November 20 news conference, Prime Minister Nikol Pashinyan revealed that he personally lobbied US President Donald Trump for help in expediting the chip-transfer approval process,…

Nigeria’s state oil company, the Nigerian National Petroleum Company (NNPC), has reported it posted a net profit of 5.4 trillion naira ($3.6 billion) in 2024, good for a 64% jump from a year earlier as the pivotal industry continues to make a comeback. “The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Bashir Bayo Ojulari, NNPC Group Chief Executive, told analysts. Nigeria has been struggling to meet its OPEC+ quota in recent years, thanks to years of underinvestment…

Nigeria’s state oil company, the Nigerian National Petroleum Company (NNPC), has reported it posted a net profit of 5.4 trillion naira ($3.6 billion) in 2024, good for a 64% jump from a year earlier as the pivotal industry continues to make a comeback. “The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Bashir Bayo Ojulari, NNPC Group Chief Executive, told analysts. Nigeria has been struggling to meet its OPEC+ quota in recent years, thanks to years of underinvestment…

Nigeria’s state oil company, the Nigerian National Petroleum Company (NNPC), has reported it posted a net profit of 5.4 trillion naira ($3.6 billion) in 2024, good for a 64% jump from a year earlier as the pivotal industry continues to make a comeback. “The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Bashir Bayo Ojulari, NNPC Group Chief Executive, told analysts. Nigeria has been struggling to meet its OPEC+ quota in recent years, thanks to years of underinvestment…

The global market for Solar Engineering, Procurement, and Construction (EPC) services is forecast to nearly triple in size over the next decade, driven by supportive government policies, declining technology costs, and increasing corporate demand for clean energy solutions, according to a new report published by Allied Market Research. The Solar EPC market, which includes end-to-end services for solar project development, was valued at $0.4 trillion in 2024 and could reach $1.2 trillion by 2034, registering a Compound Annual Growth Rate (CAGR)…

A sanctioned Russian shadow fleet tanker has reached Venezuela’s waters after evading a U.S. destroyer. Previously, Bloomberg reported the  sanctioned panamax carrier Seahorse unsuccessfully attempted to approach Venezuela three times, with the U.S. destroyer USS Stockdale blocking its path each time. Seahorse has been used to transport naphtha, a lighter fuel distillate, from Russian refineries to Venezuela. The vessel has also been previously used in the Iran to Venezuela trade to carry distillate products. Built in 2004, the 70,426-dwt…

A sanctioned Russian shadow fleet tanker has reached Venezuela’s waters after evading a U.S. destroyer. Previously, Bloomberg reported the  sanctioned panamax carrier Seahorse unsuccessfully attempted to approach Venezuela three times, with the U.S. destroyer USS Stockdale blocking its path each time. Seahorse has been used to transport naphtha, a lighter fuel distillate, from Russian refineries to Venezuela. The vessel has also been previously used in the Iran to Venezuela trade to carry distillate products. Built in 2004, the 70,426-dwt…

A massive pipeline buildout is sweeping across Texas, Louisiana, and Oklahoma, marking the largest expansion of Gulf Coast natural-gas capacity since the 2008 shale boom, according to Bloomberg. As many as a dozen projects are slated for completion next year, enough to boost the region's gas-shipping capacity by 13%, or about the equivalent of Canada's total consumption, according to US Energy Information Administration data. "This is the most activity I've seen in my 20 years in the industry," said Jack Weixel of East Daley Analytics. Though most…

A political plot twist is unfolding in Florida as top Republicans—including Governor Ron DeSantis—came out against a Trump administration proposal that could reopen the eastern Gulf of Mexico to offshore oil and gas leasing. The opposition wasn’t about party lines. It was about geography, economics, and a stretch of water the Pentagon relies on heavily for testing and readiness drills. The Interior Department’s draft plan, released Thursday, floats the possibility of future leasing in the eastern Gulf—an area Congress…

The IEA's most recent report is grabbing plenty of headlines, with some accusing the organisation of “bending to political pressure” after it backtracked on its previous prediction that oil demand would peak by 2030. While the reason for this U-turn is indeed questionable, as the agency's estimates should always have been data-driven, it should be seen as a welcome shift. If we stop looking at energy consumption only via electricity and look instead at the whole picture, it becomes clear that demand, especially in the Global South,…

U.S. LNG developer NextDecade plans to expand further its Rio Grande export project with a sixth train, for which it has just initiated the pre-filing process with the Federal Energy Regulatory Commission (FERC).   NextDecade has already approved and is building five trains at its flagship Rio Grande LNG export facility in Brownsville, Texas. All of these trains are expected to come online by the early 2030s.     The company is now seeking with the FERC further expansion at Rio Grande LNG that includes a sixth liquefaction…

When a 25-year-old Chinese construction worker died at a vast solar power plant site in Bosnia-Herzegovina this summer, few expected the incident to snowball into one of the most significant legal blows against Chinese-backed projects in the country. The accident at the Aurora Solar site near the southern Bosnian city of Stolac triggered an inspection that uncovered 71 illegal Chinese workers in October. Authorities quickly deported them, ruled construction of the $116 million project illegal, and opened investigations into the possible misuse…

Russian oil and gas revenues are poised to slump by 35% this month from a year earlier as the price of Russia’s crude has plunged and the local currency strengthened.  Russia’s budget is expected to receive $6.63 billion (520 Russian billion rubles) from oil and gas in November, a decline of 35% compared to the same month of 2024, Reuters calculations showed on Monday.  Oil and gas revenues make up the single largest budget income item for the Russian Federation, which relies on these revenues for heavy spending on its war…

The international crude benchmark, Brent, could dip to the $30s per barrel handle by 2027 as oversupply could overwhelm the market, according to a JP Morgan forecast posted by users on X.   Brent Crude prices have dropped by 14% year to date, and traded relatively stable at $62.59 per barrel early on Monday, as the oil market awaits news from the renewed negotiations on peace in Ukraine.  The U.S. and Ukraine held on Sunday in Geneva what the two sides described as “highly productive” talks and agreed to continue intensive…

Supertanker rates on the route between the Middle East and China hit their highest in five years as traders sought alternatives to Russian crude, Bloomberg has reported, citing a daily rate of $137,000 for last Friday. Friday was when the latest U.S. sanctions against Russia’s two top exporters, Rosneft and Lukoil, came into effect, spurring action to secure alternative supplies for Asian markets. The daily VLCC rate represented a 576% increase since the start of the year. VLCC rates on other routes also rose to the highest since 2020, at…