Norway

Against market expectations, US commercial crude reserves surged due to a sharp drop in exports, only slightly affecting international prices.
Hull Street Energy has signed an agreement to acquire thirteen hydroelectric dams from Consumers Energy, totalling 132 MW, further consolidating its position in the North American hydro sector.

Madison Energy Infrastructure raises $800mn to support large-scale projects

US-based Madison secures $800mn debt facility to finance energy infrastructure projects and address rising grid demand across the country.
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Solar and storage accounted for 82% of new U.S. power capacity in early 2025, despite federal measures slowing their expansion.
US-based Chevron has submitted a bid with HelleniQ Energy to explore four offshore blocks south of Crete, marking a new strategic step in gas exploration in the Eastern Mediterranean.

Global wind sector targets 2 TW installed capacity by 2030 despite uncertainties

Driven by China's acceleration, global wind capacity is expected to reach 170 GW in 2025, paving the way for a doubling of installed capacity by 2032.
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Iran has reached a new agreement with the International Atomic Energy Agency to formalise the resumption of inspections, following months of suspension linked to military tensions and criticism of its nuclear programme.
A consortium led by BlackRock is in talks to raise up to $10.3 billion to finance a gas infrastructure deal with Aramco, including a dual-tranche loan structure and potential sukuk issuance.

TotalEnergies strengthens its presence in the United States with Rio Grande LNG Train 4

TotalEnergies commits to Train 4 of the Rio Grande LNG project in Texas, consolidating its position in liquefied natural gas with a 10% direct stake and a 1.5 Mtpa offtake agreement.
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Canadian energy producer Cordelio Power has completed commissioning of its Winfield solar project, a 150 MW facility backed by a 15-year contract with Microsoft and a $313mn structured financing deal.
US-based Nuclearn has secured $10.5mn to scale its artificial intelligence platform, already deployed in over 65 nuclear reactors, to automate critical operations amid rising energy demand.

Dig Energy raises $5mn to industrialise lightweight geothermal drilling technology

Start-up Dig Energy has secured $5mn to launch its first pilot projects for compact geothermal drilling, aiming to cut thermal energy production costs in buildings without relying on conventional oilfield rigs.
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Electric Hydrogen announces the acquisition of Ambient Fuels and an alliance with Generate Capital to offer up to $400 mn in hydrogen project financing worldwide starting in 2026.
Baker Hughes joins the development of the second phase of the Hell’s Kitchen project in California, targeting 500 megawatts of geothermal energy to power energy-intensive data centres.

EQT signs 20-year deal for 1 Mtpa LNG with Commonwealth LNG

US producer EQT has secured a twenty-year liquefied natural gas supply contract with Commonwealth LNG, tied to a Gulf Coast terminal under development.
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Ineos Energy ends all projects in the UK, citing unstable taxation and soaring energy costs, and redirects its investments to the US, where the company has just allocated £3bn to new assets.
The Chief Executive Officer of TotalEnergies said that NextDecade would formalise on Tuesday a final investment decision for a new liquefaction unit under the Rio Grande LNG project in the United States.

MCatalysis secures funding to industrialise microwave catalysis technology from Oxford

Texas-based start-up MCatalysis secures seed funding from HL Energy Ventures to exploit, under exclusive licence, a microwave catalysis technology developed at the University of Oxford.
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Phillips 66 acquires Cenovus Energy’s remaining 50% in WRB Refining, strengthening its US market position with two major sites totalling 495,000 barrels per day.
Berlin questions the ban on sales of combustion cars from 2035, as German automakers warn of economic and industrial risks for the country.
Construction has started on the Union Ridge Solar Farm, with a 98 MWac capacity, in Licking County, Ohio. The project is creating hundreds of local jobs and strengthening the skilled workforce in the renewable energy sector.
The Trump administration has announced new sanctions targeting Iran's oil export network to China amid ongoing nuclear talks between Washington and Tehran.

Hystar signs second contract in South Korea with Sunbo Unitech

Hystar has signed a new agreement with Sunbo Unitech to supply PEM electrolyser stacks for a green hydrogen project in Boryeong, South Korea, marking its second contract in this strategic market.
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Japanese refiners, dependent on Gulf crude for 96.6% of imports, are struggling to diversify supply sources as increased OPEC+ output makes Persian Gulf barrels more competitive compared to US crude.
Konexa, Norfund and Climate Fund Managers will invest $3.6mn to develop a 50MW solar plant and expand industrial power grids in Nigeria.

Aypa Power secures $535mn for hybrid solar-storage project in California

Aypa Power closed a $535mn financing to develop a 320 MW solar and battery site in San Bernardino County, supported by a banking consortium led by Santander.
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NRG Energy acquires energy assets from LS Power, including 18 natural gas power plants, to strengthen its portfolio amid expected growth in U.S. electricity demand.
Oil prices climbed following a joint decision by Washington and Beijing to temporarily suspend tariffs, easing pressure on global demand.

Shell delays two strategic wells at Perdido offshore field in the United States

Shell announced a delay in bringing two new wells online at the Perdido offshore field, temporarily lowering production targets in the Gulf of Mexico.
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Enbridge reported a sharp rise in first-quarter 2025 results, driven by its hydrocarbon transport operations and recent acquisitions, while reaffirming its full-year financial outlook.
The US president begins a state visit to Saudi Arabia focused on an ambitious economic partnership, sidelining Saudi-Israeli normalisation due to the Gaza war.

EDP reports €428mn quarterly net profit driven by strategic positioning

Energias de Portugal saw its profit rise by 21% in the first quarter, supported by expanded renewable capacity and favourable electricity market prices.
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Aker ASA merges Aker Horizons and acquires a stake in SLB Capturi, consolidating its portfolio while preparing for a significant dividend distribution.
Aker takes over Aker Carbon Capture’s stake in SLB Capturi for NOK635mn, ahead of a NOK1.7bn distribution and company dissolution.

Aramco’s net profit drops 4.6% in Q1 2025

Lower sales revenues and rising operational costs impacted Aramco’s results, while the company remains central to Saudi Arabia’s economic strategy.
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Global lithium-ion battery production is set to grow by 21% this year, according to Rystad Energy, with China dominating the sector thanks to its established supply chain and competitive technologies.
Oil prices climbed on Friday, supported by the signing of a trade agreement between the United States and the United Kingdom, reviving expectations of easing global tensions.

Georgia Power begins construction of 765 MW battery storage in Georgia

Georgia Power has begun work on four new battery storage systems totalling 765 MW across several counties to enhance the reliability of the electricity grid in the U.S. state of Georgia.
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California approved only three new drilling permits in Q1 2025, but Kern County and two COâ‚‚ pipeline bills may reverse that trend.
US oil operators will face moderate drilling cost increases in 2025, driven by tariffs, despite price drops in several key service segments.