Julie Wasolua

Chinese independent refiners poised to increase fuel oil imports
The anticipated increase in the tax deduction rate may encourage independent refineries in Shandong to restart fuel oil imports, compensating for limited crude oil import quotas.
Invenergy and Meta expand US portfolio with an additional 791 MW
Invenergy seals four further contracts with Meta to supply nearly eight hundred megawatts of solar and wind power to the group’s data centres, lifting total cooperation between the two companies to one point eight gigawatts.

Petro-Victory launches fully-funded drilling campaign in Brazil

Petro-Victory Energy Corp. starts drilling of the AND-5 well in the Potiguar Basin, Brazil, as the first phase of an operation financed through its strategic partnership with Azevedo & Travassos Energia.
en_114025062036540
Port of Corpus Christi expands capacity for large oil tankers
The Texan Port of Corpus Christi has completed major widening and deepening work designed to accommodate more supertankers, thus strengthening its strategic position in the US market for crude oil and liquefied natural gas exports.
BP Prudhoe Bay Royalty Trust puts Prudhoe Bay royalty up for sale
BP Prudhoe Bay Royalty Trust is offering its interest in Prudhoe Bay, North America’s largest oil field, as part of its planned dissolution, assisted by RedOaks Energy Advisors for this strategic asset transaction.

Pedro Azagra takes helm at Iberdrola, Avangrid renews its leadership team

Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
en_114025062032540
CNOOC partners with KazMunayGas to explore the Zhylyoi subsoil area
CNOOC Limited’s Hong Kong subsidiary and KazMunayGas have concluded a nine-year exploration and production contract covering nine hundred and fifty-eight square kilometres in Kazakhstan, sharing investment and operations equally.
Trump authorizes China to buy Iranian oil, shaking global oil markets
Donald Trump announced that the United States will no longer oppose Chinese purchases of Iranian oil, immediately triggering a drop in global crude oil prices and profoundly reshaping international energy trade partnerships.

Canadian oil sands production poised to reach record high

Research firm S&P Global Commodity Insights lifts its outlook for the fourth straight year, betting on three point five mn barrels per day from 2025 despite lower prices.
en_114024062026540
Enbridge Considers Adding Capacity to Export More Oil to Gulf Coast
Enbridge plans to expand its infrastructure to increase oil transportation from the American Midwest to the Gulf Coast, anticipating rising exports and addressing current market logistical constraints.
US oil stocks fall by 3.1 mn barrels, surprising markets
US commercial crude inventories significantly decline by 3.1 million barrels, widely surpassing initial forecasts and immediately pushing international oil prices higher.

Ares Management acquires 20% of Plenitude’s capital for 2 billion euros

The US investment fund Ares Management enters Plenitude's capital by acquiring a 20% stake from Eni, valuing the Italian company at 10 billion euros and reinforcing its integrated energy strategy.
en_114023062057540
UK reserves underestimated, GBP 165 billion opportunity according to Offshore Energies UK
The UK could have hydrocarbon reserves twice as large as current official estimates, according to Offshore Energies UK, highlighting the impact of fiscal policies on forecasts and the economic future of the North Sea.
Eni, BP and TotalEnergies partially evacuate Iraq; Lukoil maintains operations
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.

Chinese Refineries Cautious Amid Iran-Israel Tensions Threatening Oil Supply

Chinese independent refineries remain cautious amid rising Iranian crude prices driven by escalating Iran-Israel tensions, potentially threatening access to the strategic Strait of Hormuz.
en_114023062064540
Gazprom offers Pakistani company Nigerian assets to boost Asian expansion
Gazprom, affected by a historic $6.9bn loss in 2023, is offering Pakistani state-owned firm OGDCL its petroleum assets in Nigeria to strengthen its presence in Asia’s energy market, according to Pakistani sources.
Trump Warns of Oil Price Surge Following Strikes Against Iran
Donald Trump urges control of oil prices following U.S. military action against Iranian nuclear facilities, amid escalating tensions around the strategic Strait of Hormuz, threatening to significantly impact global markets.

PermRock Royalty Trust distributes $539,693 following decline in oil sales

PermRock Royalty Trust announces a monthly distribution of $539,693 to unit holders, impacted by reduced oil volumes and prices in April, partly offset by increased natural gas sales.
en_1140290964540-3-1
Permian Basin Royalty reduces June distribution due to high costs
Permian Basin Royalty Trust announces a reduced distribution for June due to ongoing excess costs at Waddell Ranch properties and lower volumes from Texas Royalty Properties.
Airbus selects ENGIE to decarbonise 22 industrial sites across Europe
ENGIE secures a contract to reduce Airbus' industrial emissions in France, Germany, and Spain, targeting an 85% decrease by 2030 through various local energy infrastructures.
  • Populaires sur energynews.pro
Q ENERGY inaugurates Europe’s largest floating solar power plant
Nepal Identifies Major Methane Reserve Estimated at 112 Billion m³
Tesla Signs $560 Million Contract for Electricity Storage in China
Europe Commits Major Investments to Electricity Grids and the Clean Industrial Deal
Iraq Suspends Oil Projects Amid Regional Conflict and Strained Logistics
Cenovus Energy restarts full production at Christina Lake site
Canadian company Cenovus Energy has fully resumed oil sands production at its Christina Lake site following a wildfire-related shutdown in Alberta.
CGC launches Vaca Muerta project and bets on heavy crude
Argentine company Compañía General de Combustibles is starting operations in the Vaca Muerta shale basin while boosting heavy crude production due to strong local demand and rising prices.

Nigeria struggles to secure $5 billion loan from Aramco

Oil-backed financing is weakened by falling crude prices and persistent production constraints in the country.
en_1140290952540
Italiana Petroli to Decide Buyer by Late June for Estimated €3 Billion Sale
Italiana Petroli, in negotiations with three potential buyers, is expected to finalize the total sale of the group for around €3 billion by late June, according to several sources close to the matter speaking to Reuters on Thursday.
ExxonMobil tops upstream explorer ranking according to Wood Mackenzie
ExxonMobil has been named the most admired upstream exploration company in Wood Mackenzie’s latest annual survey, recognised for its performance in Guyana and its ability to open new resource frontiers.

Petronas cuts 5,000 jobs and exposes contradictions in its African operations

Petronas' workforce reduction reignites questions about internal trade-offs, as the group maintains its commitments in Asia while leaving uncertainty over its operations in Africa.
en_1140290957540
ETC warns of trade tensions linked to clean energy supply chains
The Energy Transitions Commission warns of economic risks tied to growing protectionism around clean technologies, while calling for global consensus on carbon pricing.
Kremlin Warns of Global Impact from New Russian Oil Price Cap
The Kremlin condemns the European proposal to lower the price cap on Russian oil to $45 per barrel, asserting that this measure could disrupt global energy markets, as the G7 prepares for decisive discussions on the issue.

Libya Hits 12-Year Oil Peak Despite Ongoing Political Instability

Libya's oil production reached a twelve-year high of 1.23 million barrels per day, even as persistent political tensions and violent clashes in Tripoli raise concerns about the sector's future stability.
en_1140290988540
Two powerful financial algorithms now dictate global oil prices
According to a study published by The Oxford Institute for Energy Studies, two competing financial algorithms, Risk-Parity and Crisis Alpha, significantly influence oil markets, weakening the traditional correlation with the sector's physical fundamentals.
Baker Hughes sells sensor division to Crane for $1.15bn
Baker Hughes has reached an agreement to sell its precision sensor product line to Crane Company for $1.15bn, thereby refocusing its operations on core competencies in industrial and energy technologies.
Baker Hughes

KKR and PSP inject $2.82bn into AEP’s US transmission network

American conglomerate American Electric Power sold 19.9% of two transmission subsidiaries to KKR and PSP Investments, raising $2.82bn to support its five-year $54bn investment plan.
en_1140290953540
DNO raises $400mn in hybrid bonds to refinance Sval Energi’s debt
Norwegian producer DNO ASA completed an oversubscribed $400mn hybrid bond private placement to support the integration of Sval Energi Group AS.
Israel identifies 165 key companies in the 2025 energy tech landscape
The new mapping by Startup Nation Central identifies 165 active companies in Israel’s energy technologies, amid strong private funding and growing global market interest.

Petrobras enters exclusive talks for nine offshore blocks in Côte d’Ivoire

The Brazilian oil group secured approval from Abidjan to begin negotiations for exploring nine deepwater blocks as part of its business partnerships strategy in Africa.
en_1140290946540
Shell Shuts Unit After Fire at Its Ethylene Cracker in the U.S.
Shell suspends a unit at its Pennsylvania petrochemical complex following a fire on June 4, with ongoing environmental checks and an internal investigation to determine when the facility can resume operations.
Azerbaijan restarts oil exploration with ExxonMobil, BP and MOL
Baku signs multiple deals with major industry players to boost exploration as oil reserves decline and ACG production slows.

Vallourec completes acquisition of Thermotite do Brasil from Mattr

French group Vallourec announces the integration of Thermotite do Brasil, enhancing its industrial capabilities in Brazil for offshore pipeline coating services.
en_1140290960540
Bernard Fontana Launches 30% Cost Reduction Plan at EDF
The new CEO of EDF, Bernard Fontana, aims to achieve €1 billion in operational cost savings for the French energy giant by 2030, prioritizing industrial contracts and the national nuclear sector.
US crude oil inventories fall by 4.3 million barrels
Commercial crude reserves in the United States declined more than expected, following increased refinery activity according to EIA data published on June 4.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS