Shell CEO warns that energy shortages could occur in Europe by the end of next month.
Shell CEO Wael Sawan warned on Tuesday that energy shortages in Europe could occur by the end of next month. Sawan added that Shell is working with governments in order to address the energy crisis. This includes storage and purchasing. Sawan said that the Middle East conflict has already impacted jet fuel supplies. Diesel and gasoline will follow as the summer driving season begins in Northern Hemisphere. The war has caused major damage to energy facilities, and shipping through the Strait of Hormuz was nearly stopped. This area is responsible for 20% of all global oil and LNG flows.
NextEra CEO: NextEra has secured land in Texas to build a giant gas plant that will power data centers
NextEra Energy secured land in?Texas to build a gas-fired power plant that will be used to power a massive data?center. The project is backed by a U.S.Japan agreement. Last week, the power provider revealed that President Donald Trump's administration had approved the construction of two gas plants totaling 10 gigawatts in Texas and Pennsylvania. This will help to meet the exploding electricity demands of data centers. The $33 billion project would be developed by NextEra and operated by them, but jointly owned by the United States of America and Japan.
Japan: Efforts made to secure energy supply are insufficient
Takehiko Matsuo said that coordinated efforts?by government to boost energy supply in a?follow-up to?the U.S./Israeli war against?Iran are not enough to ease the market strain. The International Energy Agency is releasing 400,000,000 barrels of oil to the market from its strategic stockpiles to try and bring down prices. Global oil futures have reached over $100 per barrel. Japan will contribute 80 million barrels, second highest behind the United States which will release 172 million barrels.
US energy and interior secretaries met executives amid market turmoil
Energy executives from the United States and Venezuela met with U.S. Energy Sec. Chris Wright, Interior Sec. Doug Burgum on Sunday in Houston to discuss everything from increasing domestic oil production?to Venezuelan opportunities. This was during the worst?supply interruption in history due to U.S. and Israeli war against Iran. The dinner meeting was held on the eve if the annual CERAWeek conference where oil ministers, executives from'major energy companies' and members of 'Organization of Petroleum Exporting Countries (OPEC) gather to discuss the current state of the energy industry.
Iran threatens to retaliate after Trump's ultimatum against Gulf water and energy
Iran has warned that it will strike water and energy infrastructure in the Gulf region if U.S. president Donald Trump follows through with his threat to "attack" its electricity grid. This is raising fears about a massive disruption of drinking water for a region heavily reliant on desalination. Trump gave a deadline of 7:45 pm EDT (2345 GMT) on Monday, warning late Saturday that the United States will strike Iran's nuclear power plants if Tehran does not fully reopen the Strait of Hormuz in 48 hours.
Colombia: Venezuela's PDVSA intends to terminate pipeline contract with Ecopetrol
Edwin Palma, Colombia's Energy?Minister, said Venezuela's PDVSA state oil?company intends to terminate a contract with Colombia Ecopetrol?over?the Antonio Ricaurte?pipeline. He claimed that there was not enough?investment in its repair. Palma, in a Saturday post on X, said that the government planned to meet the U.S. Government on Monday to discuss the lifting of sanctions against Venezuela and normalizing commercial relationships. The announcement comes a day following a high level meeting between two countries held in Caracas.
TotalEnergies production down 15% due US-Iran War; confirms UAE Outages
The French oil giant said that TotalEnergies has lost 15% of its 'oil and 'gas production as the U.S. Israel war against Iran closes down fields in the Middle East including the UAE, Qatar, and Iraq. Total said that this output represents about 10% of its?upstream cash flows. This was the first official confirmation of widespread production outages in the UAE caused by the crisis. Qatar and Iraq had announced earlier production cuts. The UAE, however, has not released any official information. Total has announced that its offshore production in the UAE has been shut down.
Iranian strikes burn oil tankers, despite Trump's claims to have won war
Two oil tankers caught fire in an Iraqi harbor on Thursday, after being hit by a boat suspected to be laden with explosives. This was a new attack that has cut off Middle East oil and defied Donald Trump’s claim of having?won' the war launched two weeks earlier. Images that were verified as having "been filmed" from the shores of Basra port showed massive orange fireballs lighting up the night skies, following the attacks Iraqi authorities had blamed on Iranian vessels. One crew member died. Three other ships were also struck by missiles in the Gulf a few hours earlier.
Enverus reports that global dealmaking for oil and gas upstream in 2025 was muted.
Enverus, a firm that provides analytics, said Wednesday that the upstream oil and natural gas market in the world will remain?subdued' for the second consecutive year, with only $18 billion in deals. The firm stated in a recent report that fewer 'high-quality resources' and lower oil prices have limited the value of mergers and acquisitions well below the historical norm of $60 billion. Andrew Dittmar is the principal analyst of Enverus. He said that international M&A deals are shaped by availability, not appetite. Majors have retreated from the M&A sector and are focusing on organic growth.
G7 and EU discuss energy prices and strategic reserves
Officials said that the G7 energy minsters will discuss the soaring prices of energy due to the war in Iran during a Tuesday call. A group of European Union Leaders will also do the same later in the day. On Monday, oil?prices soared to $119 per barrel, their?highest level in nearly four years. This was due to fears that Gulf production would be cut and tanker exports disrupted. The European Union is worried about a possible repeat of the energy crises they experienced in 2022. Prices soared to records and forced some industries to shut down after Russia invaded Ukraine.
G7 and EU will hold a call on the soaring prices of energy
Officials have confirmed that the G7 energy ministers are scheduled to discuss the rising energy prices due to the war with Iran on a phone call Tuesday. A group of leaders from the European Union will do the same later in the day. Fears of Gulf production cuts and disruptions to tanker traffic pushed oil prices up to their highest level since mid-2022. The G7 Finance Ministers stated on Monday that they are prepared to take "necessary steps" to combat the price surge, but did not commit to a coordinated release of emergency reserves.
Venture Global promises on-time LNG delivery amid Middle East conflict
Venture Global LNG, a U.S. developer of liquefied natural gas (LNG), has informed customers that its Plaquemines plant in Louisiana is under construction. The letter was seen by the. Venture Global LNG, a Virginia-based firm, wrote to customers of Plaquemines Phase 1 on Friday and stated that it will begin long-term deliveries on October 31, despite a rise in global gas prices due to the U.S. and Israeli war against Iran. The letter stated that "as of today, Phase 1 is on schedule" as global energy markets react critically to developments in Iran and the Middle East.
Oil and Gas Industry urge EU to stop methane emission law
Oil and gas companies warned that the European Union's methane emission law could disrupt Europe’s fuel imports if it is implemented next year. The?industry's call comes after the U.S. The?government asked the EU to exempt U.S. gas and oil from the rules. Brussels has offered more flexible options for companies to comply with the rules, but refused to rollback this policy. It is a key pillar in its climate strategy. A study commissioned by the industry and published on Monday by Wood…
Senate Democrats are ready to restart discussions on allowing reform
Two lawmakers said on Thursday that the Senate Democrats were ready to resume negotiations on legislation designed to speed up?permitting for large infrastructure projects. They stated that they had been encouraged by recent Trump administration moves to review renewable energy project applications which had been stalled. Sheldon Whitehouse, Martin Heinrich and other Republicans made a 'joint statement' in response to some Republicans who have publicly stated that projects already approved should not be delayed or cancelled due to changing political priorities.
Canadian Natural Resources exceeds profit expectations on higher production
Canadian Natural Resources, an oil and gas producer, posted a profit that was higher than expected for the fourth quarter. The company's increased output offset lower crude prices. Canadian Natural Resources and other oil sands producers in Canada have survived a 'global downturn', despite the uncertainty caused by U.S. Tariffs, as well as a rise in OPEC+ production, due to their years of investment. Their costs are among the lowest found anywhere in North America. The largest oil and natural gas producer in the country said that its production jumped by 12.8% compared to a year ago…
Babcock & Wilcox receives approval for a $2.4 billion project that will power AI campuses
Babcock & Wilcox announced on Wednesday that a company backed by Applied Digital has approved their $2.4 billion 'deal' to supply?equipment for the artificial intelligence campuses of the technology firm. After Base Electron announced the final notice of the 1.2 gigawatt project, Babcock shares surged by nearly 23% during premarket trading. The U.S. demand for power reached record levels in 2025, and it is expected to increase this year as major technology companies rapidly expand their data centers. Some of these data centres use as much energy as an entire city.
The European market is seeking clarity about Qatari LNG supplies, which has led to a reduction in prices.
The Dutch and British gas price were lower on Wednesday, after rising earlier in the week. However, they could still be volatile, as traders try to gauge how long Qatari LNG supply will remain interrupted. Data from Intercontinental Exchange (ICE), showed that the benchmark 'Dutch front month contract' at the TTF hub had fallen by 1.02 euros to?53.27 per megawatt-hour (MWh) as of 1018 GMT. The price of electricity rose to a record high of 65.79 euro/MWh on Tuesday, the highest since January 2023. However, it fell again by 10 euros by the end the day.
SABIC, the Saudi chemical giant, will lose $6.9 billion in 2025 due to asset sales
SABIC, the Saudi chemical giant, reported on Wednesday that it would suffer a "massive" net loss by 2025. This was mainly because of impairments and losses relating to divestment assets in Europe and America. Chemicals industry is struggling with overcapacity. This has led to squeezed margins, and a decline in utilization rates. In a filing to the bourse, it said that its 2025 loss would be 25.78 billion (or $6.87 billion). This compares to a net profit of 1.54 billion in 2015. The full-year revenue dropped 1%, to 116.53 billion riyals due to lower average selling price.
EUROPE GAS-European gas prices soar as Iran had conflict halts Qatar LNG output
The benchmark Dutch and British wholesale gas prices rose by nearly?50% after Qatar Energy, a major LNG exporter, announced that it had stopped production because of attacks in the Middle East. Qatar is soon to become the second largest LNG exporter in the world after the United States. It plays a significant role in balancing the demand for LNG on both the Asian and European market. Trade sources report that most tanker owners and oil majors, as well as trading houses, have stopped shipping crude oil…
Spain's Moeve joins forces with Masdar to launch a $1.2 billion green hydrogen project
The Spanish energy company Moeve approved a major green hydrogen investment project that involved more than one billion euros ($1.2 billion) of investments. Masdar, an Abu Dhabi renewable energy company, was a minority partner. Moeve announced on Monday that it had made the final investment decision for the first part in the Andalusian Green Hydrogen Valley, Spain. This will have a 300 megawatt capacity and the option to add an additional 100 MW based on grid availability and board approval. It said that it will be the biggest project of its kind in southern Europe.