When the UK’s government slapped a 25% windfall tax on oil and gas producers in 2022, the industry warned this could be the death knell for local oil and gas production. Four years later, the UK’s oil and gas industry is being described as “irrelevant”. The UK’s oil and gas production has slumped from some 4.4 million barrels of oil equivalent daily 25 years ago to some 1 million barrels of oil equivalent daily to date. This is seen dropping to as little as 150,000 barrels by 2050. In fact, it may drop even more sharply…

Abu Dhabi’s national oil company, ADNOC, keeps making headlines again, not only when looking at upstream but also in its LNG strategic operations. At present, the oil and gas giant’s quiet acceleration in LNG shipping is often treated as merely a capacity add. Mainstream media is focusing on factors such as increased hulls, greater flexibility, and improved service for export projects. This focus is, however, too narrow, as the UAE’s national champion is not simply expanding its fleet. ADNOC is clearly establishing the physical…

Canada-based Ensign Energy Services has been working in Venezuela for 25 years and has never left the country, where rig counts have plummeted, and the political and regulatory landscape has been a minefield to navigate. “We’re the only Canadian company — the only oilfield service drilling company — operating in Venezuela,” Bob Geddes, Ensign Energy Services’ president and chief operating officer, told the Financial Post in an interview. “We’ve stuck through Venezuela, thick and thin, and here we…

The runaway energy demands of the artificial intelligence boom are pushing a new wave of innovative next-gen energy ambitions. Big Tech is pouring money into fast-tracking the development of futuristic energy alternatives like enhanced geothermal and nuclear fusion in an attempt to stay one step ahead of the energy monster the sector is creating.  Large language models are already consuming about 1.5 percent of the world’s energy, according to figures from the International Energy Agency. And as AI models become more advanced, they will…

British aviation company Rolls-Royce has big plans for nuclear power, as well as other major energy projects, having been selected as the United Kingdom’s preferred bidder to build the country’s first small modular reactors (SMRs) last year. The company is expected to fast-track the development of the U.K.’s first SMRs, as well as explore other innovative fields, such as producing power from space. In June, the U.K. government announced that Rolls-Royce SMR had been selected as the preferred bidder to partner with Great British…

The massive unconventional oil boom underway in Argentina continues to gain momentum. During late 2024, Argentina, which is South America’s second largest economy after Brazil, overtook Colombia to become the continent’s fourth largest oil producer. The surge in petroleum revenues, coupled with President Javier Mieli’s economic reforms, is a boon for one of the world’s most unstable and crisis-riven economies. There are signs of strong production growth ahead with shale oil and gas output expanding at a solid clip. …

Ford and General Motors (GM) have both announced plans to venture into the world of energy storage, following in the footsteps of the electric vehicle (EV) giant Tesla. The two U.S. automakers have big plans for business expansion, which could drive down EV manufacturing costs, reduce reliance on imports, and expand their portfolios. The U.S. EV market is growing at a slower pace than anticipated as the Trump administration waters down aims set by the previous government to restrict the sale of internal combustion engine (ICE) vehicles and incentivise…

As a part of the United States’ push to revitalize its aging nuclear energy sector, the Department of Energy is funding a wave of research into recycling used nuclear fuel. This move comes as a part of a broader effort to increase the United States’ energy independence by reducing reliance on global energy value chains. At present, Russia and China dominate supply chains for refined nuclear fuel. "Used nuclear fuel is an incredible untapped resource in the United States," Assistant Secretary for Nuclear Energy Ted Garrish was recently…

United States President Donald Trump has repeatedly pledged to ramp up the country’s manufacturing capacity and create more American jobs across a wide range of industries. While Trump has supported the expansion of certain industries, he has hindered the operation of others. In recent months, Trump has attacked green energy, using executive orders and new policies to restrict renewable energy development and cleantech manufacturing. This has resulted in sectoral stagnation, as investors grow more uncertain about the future of the industry.…

Latin America is attracting greater attention from international investors thanks to its strong renewable energy and critical mineral potential. In recent years, the region’s green energy capacity has steadily grown, while more mineral mining projects are developed, and the electric vehicle (EV) market is beginning to expand. As the United States takes a back seat in renewable energy deployment, this industry is taking off in other parts of the Americas. Over 65 percent of Latin America’s electricity now comes from renewable sources,…

A global nuclear energy renaissance is unfolding as nations around the world re-embrace fission technology as a safe and necessary part of a stable and low-carbon energy mix. The artificial intelligence boom is pushing policymakers and private sector interests alike to adopt an all-of-the-above approach to energy development as electricity demand projections far outpace planned energy capacity additions.  But traditional nuclear energy is hugely costly and requires navigating miles of red tape. In one disastrous example, the United States’…

A right-wing group pushing the province of Alberta to secede from Canada has ramped up a petition campaign aimed at achieving independence after meeting with officials from the Trump administration. The group has already held three meetings with officials from the State Department, where they’ve discussed the logistics of a potential secession from Canada, including border security, switching over to U.S. currency and how their radical plan can benefit the United States. Volunteer canvassers have set a target to collect approximately 177,000…

Electricity bills will be higher in 2030 than in the wake of the Russian invasion of Ukraine, the boss of British Gas has warned, as the government pushes through major upgrades to the UK’s grid infrastructure. Chris O’Shea, chief executive of British Gas-owner Centrica, said the UK was playing catch-up after years of underinvestment, and now faced significantly higher costs.  “We’ve underinvested in the system for many years, and whether it’s the cost of building a new gas-fired power station or a new wind farm,…

Lithuania is signaling it may strike its own critical minerals deal with Washington if the EU can’t finalize a bloc-wide agreement quickly enough, a top Lithuanian official told Bloomberg this week. If it follows through, it could become the first EU member to break ranks and pursue a standalone minerals pact with the U.S., potentially setting off a domino effect among other security-focused states in Eastern Europe. Lithuania’s goal is to secure reliable access to the materials its engineering and defense sectors depend on. Vilnius…

Lithuania is signaling it may strike its own critical minerals deal with Washington if the EU can’t finalize a bloc-wide agreement quickly enough, a top Lithuanian official told Bloomberg this week. If it follows through, it could become the first EU member to break ranks and pursue a standalone minerals pact with the U.S., potentially setting off a domino effect among other security-focused states in Eastern Europe. Lithuania’s goal is to secure reliable access to the materials its engineering and defense sectors depend on. Vilnius…

The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday, keeping the total rig count in the US  at 551 this week, down 37 from this same time last year. The number of active oil rigs fell by 3 5o 409 during the latest reporting period, according to the data. This is 72 below this same time last year. The number of gas rigs rose by 3, reaching 133, which is 32 more than this time last year. The miscellaneous rig count stayed the same…

US President Donald Trump publicly emphasized diplomacy with Iran following his February 11 meeting with Israeli Prime Minister Benjamin Netanyahu. But experts say the deeper dispute may center not on Iran’s nuclear program, but on its expanding missile capabilities. After the meeting, Trump signaled that negotiations with Tehran should continue. Netanyahu, however, has pushed for Iran’s missile program to be formally included in any agreement -- something Tehran has repeatedly rejected. Speaking to RFE/RL’s Radio Farda, UK-based…

TC Energy Corporation beat analyst estimates for fourth-quarter profits amid soaring demand for natural gas in the United States which boosted its pipeline flows to an all-time delivery record early this year. TC Energy on Friday reported earnings per common share from continuing operations at US$0.72 (C$0.98), beating the average consensus estimate of    US$0.68 (C$0.92). TC Energy’s deliveries on the Canadian Natural Gas Pipelines averaged 27.2 Bcf/d, up by 5% compared to the fourth quarter of 2024, and set a new all-time…

Oil prices are once again under pressure after several OPEC+ members signaled a willingness to start hiking production again, even as inflation data provided some support. Friday, February 13, 2026OPEC+ never fails to disappoint oil bulls, this time sending ripples through the media landscape as its leading members signalled readiness to start hiking production again after a quota freeze in Q1 2026. The physical impact of OPEC+’s alleged plans wasn’t as steep as one could expect, particularly because robust US inflation data rekindled…

Canadian pipeline giant Enbridge reported record-high core earnings for 2025 and consensus-beating earnings for the fourth quarter amid growing demand for oil and gas egress from production centers to consumption and export hubs. Enbridge on Friday reported full-year adjusted earnings before interest, income taxes and depreciation and amortization (EBITDA) of US$14.7 billion (C$20.0 billion) for 2025, up by 7% from 2024.   Full-year adjusted earnings also rose, by 9%, compared to 2024.  For the fourth quarter, adjusted earnings per…