Baker Hughes (NYSE:BKR) has taken a decisive role in reviving one of America’s most ambitious energy projects. The Houston-based oilfield services firm has signed definitive agreements with Glenfarne Alaska LNG LLC, a subsidiary of Glenfarne Energy Transition, to supply power generation equipment and main refrigerant compressors for the long-delayed Alaska LNG Project. The partnership positions Baker Hughes as both technology provider and investor in the $44 billion development, one of the largest single energy infrastructure undertakings…

The highly focused development of the U.S.’s shale oil and gas sectors from the early 2010s transformed it from one of the world’s biggest importers of both into one of its leading exporters of both. But it did much more than this: it reversed the balance of energy power in the world from where it had been left at the end of the 1973 Oil Crisis. As forecasts for the demand for gas continue to surge on fears of further global conflicts and on the dramatic expansion of data centres around the globe, the Middle East is looking to expand…

From indispensable bridge fuel to dirtier than coal, natural gas has gone through a few turbulent years recently, culminating in the EU’s risky legislation that could see it left out in the cold and dark, and investors’ newfound—or newly remembered—appetite for investments in gas. In the final year of his term, President Biden imposed a moratorium on new LNG export capacity, based on a study by a researcher who claimed that LNG production resulted in more emissions than burning coal. This was perhaps meant to drive investors…

The pariah of fossil fuels has been given pride of place in the Trump administration’s ambitions for a more secure supply of critical minerals. Last week, the Interior Department added 10 minerals to a list it deems essential for the US economy and national security. Along with metallurgical coal used in steelmaking, the list includes copper, silver, boron, lead, phosphate, potash, rhenium and silicon. As reported by Reuters, The list serves as a blueprint for Washington's push to secure supplies of materials needed for defense, manufacturing,…

Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev are meeting in Moscow this week to discuss gas cooperation and the impact of U.S. sanctions on Russian oil majors with operations in Kazakhstan. The talks come as the Kremlin faces tighter restrictions on Lukoil and Rosneft, both sanctioned last month by the Trump administration. Lukoil holds stakes in Kazakhstan’s Tengiz and Karachaganak projects, which are operated by Western majors and remain dependent on the Caspian Pipeline Consortium (CPC) for exports. The CPC—controlled…

Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev are meeting in Moscow this week to discuss gas cooperation and the impact of U.S. sanctions on Russian oil majors with operations in Kazakhstan. The talks come as the Kremlin faces tighter restrictions on Lukoil and Rosneft, both sanctioned last month by the Trump administration. Lukoil holds stakes in Kazakhstan’s Tengiz and Karachaganak projects, which are operated by Western majors and remain dependent on the Caspian Pipeline Consortium (CPC) for exports. The CPC—controlled…

Mergers are back in fashion, especially now that the government no longer objects as much as before. Why do a merger?  Well, the merging parties always say that the merger will strengthen competition (good for the public), lower operating costs (good for shareholders), and be transformative (which we can’t translate). Cynics say the merger partners and arrangers have other motives, because the mergers produce huge fees for bankers and lawyers and bonuses for the executives,  and ongoing benefits for executives because the bigger…

Carbon Capture and Storage (CCS) is no longer a futuristic idea or a climate scientist’s dream, it has become an unavoidable necessity for the sectors that cannot decarbonize through renewables or electrification alone. Cement, steel, refining, chemicals, these industries have one practical path to cutting emissions in the short term: capturing and storing their CO?. Yet while the United States is rapidly turning that vision into reality, Europe continues to wrestle with frameworks, regulations, and price signals that fail to deliver. The…

Nigeria will open its 2025 oil licensing round on December 1, as the Upstream Petroleum Regulatory Commission (NUPRC) steps deeper into the role once dominated by the state oil company. The move signals President Bola Tinubu’s intent to boost output, court investors, and drive the economy toward his $1-trillion target. Announcing the round in London, NUPRC chief Gbenga Komolafe said it marks a fresh phase under the Petroleum Industry Act (PIA). He told executives from oil majors and banks that financing remains the biggest barrier to growth,…

While the market is finally starting to grapple with the most unpleasant question of who will plug the funding gap needed to build out all the data centers required to make the AI dream a reality, a gap which Morgan Stanley recently calculated would be as large as $2.9 trillion in capex funding needs, of which at least $1 trillion will come in the form of debt (and mostly private debt)... ... there is another, just as critical question: who will fund the energy buildout that powers these data centers?  Recall, last December Morgan Stanley…

The renewable energy boom has been heating up around the world, with many countries shattering their previous records for clean energy expansion year after year. But in many grids, the rapid growth of renewables has outpaced the advancement of critical supportive infrastructure, from sufficient power lines to reliable and practical energy storage options. As a result, renewable energy is facing a two-pronged and seemingly dichotomous problem – too many new clean energy projects without a grid to plug into, and too much clean energy already…

The Russian owners of Serbia’s only refinery Naftna Industrija Srbije (NIS) have requested an extension of a U.S. license to operate as they negotiate to cede control of the facility to a third party, Serbian Energy Minister Dubravka Dedovic Handanovic said on Tuesday.  Gazprom Neft and Gazprom affiliates hold a majority stake in NIS, with the Serbian state owning the remaining 29.9%.  The U.S. has waived the sanctions against NIS several times since it sanctioned Russia’s oil industry in January this year. The sanctions on…

The Russian owners of Serbia’s only refinery Naftna Industrija Srbije (NIS) have requested an extension of a U.S. license to operate as they negotiate to cede control of the facility to a third party, Serbian Energy Minister Dubravka Dedovic Handanovic said on Tuesday.  Gazprom Neft and Gazprom affiliates hold a majority stake in NIS, with the Serbian state owning the remaining 29.9%.  The U.S. has waived the sanctions against NIS several times since it sanctioned Russia’s oil industry in January this year. The sanctions on…

As momentum builds toward COP30, Rystad Energy has analyzed over 400 historical and updated NDCs to assess how well the global energy system aligns with the Paris Agreement goals. Most submissions focus on short-term decarbonization in power, energy, and transportation, setting clear targets for renewables and electric vehicle (EV) adoption, with alternative fuels and carbon capture, utilization, and storage (CCUS) for hard-to-abate sectors. This year, signatory countries are submitting their commitments under NDC 3.0. While many targets seem more…

China is encouraging private investment in state-led major energy and infrastructure projects and could allow private investors to have more than 10% in certain projects, the government said in a landmark directive aimed at boosting investment and reinvigorating the economy. The projects open to minority private shareholding will need state approval and can be in railways infrastructure, nuclear power, hydropower, inter-provincial and inter-regional transmission lines, oil and gas pipelines, LNG import and storage facilities, and water supply projects,…

The Trump administration’s drive toward expanded military operations in the southern Caribbean Sea - ostensibly aimed at Venezuelan drug networks - suffered a severe blow in last week’s Senate vote. The resolution, rejected in a close 51-49 vote, exposed just how brittle Republican support for military expansion has become. The Senate vote follows weeks of rising unease about Trump’s opaque strategy in the Caribbean. Despite attempts to frame the operation as part of a renewed counter-narcotics effort, the absence of clear objectives…

China is encouraging private investment in state-led major energy and infrastructure projects and could allow private investors to have more than 10% in certain projects, the government said in a landmark directive aimed at boosting investment and reinvigorating the economy. The projects open to minority private shareholding will need state approval and can be in railways infrastructure, nuclear power, hydropower, inter-provincial and inter-regional transmission lines, oil and gas pipelines, LNG import and storage facilities, and water supply projects,…

All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Russia’s top oil producers, Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg on Tuesday.  India’s refiners, which have come to rely on cheap Russian crude in the past three years, have withdrawn from the December purchasing window which typically closes by November 10.    Five large refiners, including state-owned Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum…

All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Russia’s top oil producers, Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg on Tuesday.  India’s refiners, which have come to rely on cheap Russian crude in the past three years, have withdrawn from the December purchasing window which typically closes by November 10.    Five large refiners, including state-owned Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum…

Oil prices gained on Tuesday as fresh U.S. sanctions on Russian oil disrupted exports. OPEC+ Plays the Waiting Game as Stock Builds Loom Large - This winter’s LNG markets are unlikely to replicate last year’s tightness as key Asian buyers have built up sufficient inventories ahead of Q4 2025 and have minimized spot purchases in October. - South Korea, having imported a whopping 5 million tonnes LNG in August, has been winding up imports in recent months amidst ample stocks, whilst Chinese LNG imports were 15% lower year-over-year in…