Baker Hughes, a provider of oilfield services, reports a 11% increase in its adjusted quarterly profits
Baker Hughes reported a 11% increase in 'adjusted profits' for the fourth quarter, as demand for?its gas-technology equipment and services outweighed weakness in its oilfield equipment and services business. In recent quarters, the company has benefited from the demand for its equipment and services such as compressors and gas turbines that it offers to LNG companies…
Bloomberg News reports that the US is seeking quick fixes to boost Venezuelan oil production.
Bloomberg News, citing senior officials in the administration, reported that the United States is in discussions with Chevron and other major oilfield service providers about a plan for Venezuela to increase its crude production quickly. The?report stated that officials have discussed the deployment of?SLB and Baker Hughes in order to replace and repair 'outdated equipment and refresh older drilling site.
SLB is about to increase its activities in Venezuela
SLB, an oilfield service company, said that it could increase its activities in Venezuela if the necessary licensing, safety parameters, and compliance measures were put into place. SLB was one of the oil companies who met with the White House in order to discuss investment opportunities in Venezuela following the ouster of President Nicolas Maduro by the U.S. in early January.
Ukraine needs an energy ceasefire, says top power executive
The head of Ukraine's biggest private power producer said that the country is on the verge of a "humanitarian disaster" due to Russian airstrikes against energy systems. Any future peace agreement must include an end to attacks on energy infrastructure. Maxim Timchenko said that Russia, which invaded Ukraine in full force almost four years ago, has been conducting an "energy terror campaign" since October 2025.
Halliburton says it could move quickly to Venezuela if it meets its quarterly profit expectations
Halliburton exceeded analysts' expectations for fourth-quarter profits on Wednesday. This was due to the steady demand of its equipment and services in international markets. The company also announced that it will re-enter Venezuela once commercial and legal issues, such as payment certainty, are resolved. Houston-based Halliburton, which launched the earnings season of U.S.
Syrian forces push deeper into the US-backed Kurdish controlled northeast
Officials and security sources reported on Sunday that Syrian government troops were pushing toward Raqqa in the northeast, which is the last stronghold of the U.S. supported autonomous Kurdish led administration. The Kurdish-led group suffered a major setback when they took control of Deir al-Zor’s main oil and gas fields east of Euphrates, a vital source of income.
Zelenskiy, the Ukrainian Zelenskiy, orders faster imports for electricity and power equipment
Volodymyr Zelenskiy, the president of Ukraine, said that he has ordered imports to be as fast as possible. This is because Ukraine is facing its worst energy crisis since World War II. The government declared an emergency because the damaged system is only meeting 60% of its electricity needs. Extremely cold temperatures have exacerbated the situation.
India's clean-energy industry opposes the revocation due to delays
NEW DELHI (Jan 15) - India’s renewable energy groups objected to a proposed regulatory measure that could strip developers from interstate transmission system connectivity if they fail to sign long-term power purchasing agreements in a timely manner, according?to letters sent?to India’s power regulator. The groups said that the Central Electricity…
Exxon signs contract for deepwater seismic off Trinidad and Tobago
Shearwater Geoservices announced on Thursday that Exxon Mobil had awarded them a contract for the acquisition of 3D seismic data over their large deepwater block off Trinidad and Tobago. Exxon’s deepwater offshore Trinidad block is located northwards of the Stabroek Block in Guyana. This block has the fastest growing oil production in the world. The survey is expected to start in the first quarter of 2026.
India's clean-energy industry opposes the revocation due to delays
NEW DELHI (Jan 15) - India’s renewable energy groups objected against a proposed regulatory measure that could 'deprive developers of interstate system connectivity if they fail to sign long-term power purchase agreements in a timely manner, according to letters sent to the power regulator. The groups said that the Central Electricity Regulatory…
French wind production drops, causing a split in spot prices
The French spot contract rose on Friday as the French wind supply was expected to fall by almost 40%, and nuclear output declined. Meanwhile, German demand and supply are expected to decrease, and German wind supply will be slightly higher. By 0926 GMT, the?French baseload day-ahead contract was up 18.4% to 107.75 Euros ($125.33). The German equivalent contract fell 8.2% to 109.5 euros/MWh.
Indonesia will increase palm oil export tax if it abandons its plan to introduce B50 Biodiesel in this year.
Indonesia has scrapped plans to introduce a mandatory B50 palm oil-based fuel this year, and will instead stick with B40 due to "funding and technical concerns", government officials announced on Wednesday. This eases concerns about strains on palm oil supplies globally. Indonesia had planned to launch B50, a blend of palm oil-based 50% biodiesel with 50% conventional diesel in the second half this year.
Indonesia will increase palm oil export tax if it abandons its plan to introduce B50 Biodiesel in this year.
Yuliot Tajung, the deputy energy minister, said that Indonesia had scrapped plans to raise the mandatory biodiesel mix to 50% in 2019. Instead, it will maintain the current blend of 40% palm oil based fuel and 60% diesel. Indonesian energy minister had previously planned to implement the 50-50 mixture of palm oil-based diesel and fuel in the second half of this year to reduce the country's dependency on imported diesel. Eniya.
Storm Goretti increases spot electricity prices in Western Europe
The intraday price of power across Western European markets increased on Friday, as Storm Goretti caused power outages and problems with power generation equipment. EPEX spot data revealed that the average "baseload" price for Germany was 90.44 euro ($105.31), while France's price was 87.35 euro/MWh at 1207 GMT. LSEG data showed that this is higher…
European stocks gain as Glencore boosts STOXX600
European shares opened higher on Friday, helped by an 8% increase in Glencore. This put the STOXX 600 at its highest weekly winning streak since may. Gains reversed two sessions of losses when earnings were weaker and geopolitical tensions cooled sentiment. Rio Tinto announced on Thursday that it was 'in early discussions to purchase Glencore. This deal would create the world's largest mining corporation.
South Africa relaxes antitrust rules for companies facing high electricity costs
South Africa has loosened its antitrust regulations to allow firms battling high energy costs to build energy infrastructure together and negotiate contracts collectively. In a government announcement seen by on Tuesday, South Africa's Trade Minister Parks Tau stated that the new measure was meant to help?distressed industry. The Minerals Council…
The European stock rally is stalled as traders evaluate the economic impact of Venezuela
After a string of record closings, European stocks were down?on Wednesday as investors took a break to digest the latest U.S. - Venezuela developments and awaited new economic data. The?STOXX?600 index was slightly lower at 0920 GMT a day after it reached a new closing high. Investors were cautious following the announcement by U.S. president…
The European stock rally is stalling as traders evaluate the economic impact of Venezuela
After a string of record-breaking?closes?, European stocks were subdued Wednesday as investors took time to digest recent U.S.?developments? between Venezuela and the United States. They also awaited new economic data. STOXX 600 was slightly lower at 0920 GMT a day after it had reached a new closing record. Investors were cautious when U.S. president…
Trump Administration says that there are ways to increase Venezuelan oil production quickly
Trump's administration dismissed Tuesday analysts' estimates that it will?take years? to increase Venezuela's crude oil production. They said there are ways to boost the country?s oil sector quickly. The Trump administration is aiming to increase crude production from Venezuela, the South American country that has the largest oil reserves in the world. This comes after U.S.
Dallas Fed energy survey shows little change in oil and gas production during Q4
According to a Federal Reserve Bank of Dallas survey, oil and?gas production in Texas, Louisiana, and New Mexico?edged down in the fourth quarter as executives expressed concerns about low oil prices, which are rendering some wells uneconomical, and the ongoing geopolitical uncertainties. The oil and gas industry's production was essentially unchanged over the quarter…