The price of gas in Europe is rising due to the forecasted lower temperatures for the weekend
LONDON, 7 January - Dutch wholesale gas prices and British wholesale gasoline prices rose Wednesday morning due to colder weather forecasts for the weekend and next weeks. LSEG data shows that the benchmark Dutch front-month 'contract at TTF hub increased?0.78 euro to 28.80 euros per Megawatt Hour (MWh) at 0901 GMT. The Dutch contract for the month of March increased by 0.74 Euros to 28.51 Euros/MWh. The British gas day-ahead price has increased by 2.08 pence, to?77.80 per therm. According to LSEG, temperatures will rise in the north-west Europe region and Britain over the next few days but then fall again at the weekend and over next week.
Shell purchases stakes in offshore blocks in Angola from Chevron
Shell announced on Tuesday that it has reached an agreement with Chevron to purchase a stake in two offshore blocks in ultra-deep water offshore Angola. European oil companies have announced that they will invest billions of dollars in Angola. Angola is the second-largest crude producer in Sub-Saharan Africa after Nigeria. Angola has implemented major regulatory reforms in order to 'attract investments into its energy sector. It aims to keep production at or above 1,000,000 barrels per day. "We have signed a farm-in contract with Cabinda Gulf Oil Company Ltd, a subsidiary of Chevron to acquire a 35% stake in Block 49 and 50 off the coast of Angola.
What is the current status of international oil firms in Venezuela following Maduro’s capture?
Here are some key facts about the international oil companies operating in Venezuela. The country, which has the largest oil reserves in the world, is now in crisis following the capture of the President Nicolas Maduro. Former President Hugo Chavez expropriated?assets?from foreign oil companies in the 2000s. This strengthened the state-owned PDVSA control over the oilfields of the country. Due to Washington's sanction, foreign companies must now obtain authorizations from the United States to negotiate, plan and operate projects in Venezuela. Oil exports from the OPEC nation are at a standstill.
Bousso: Trump offers US oil companies in Venezuela a poisoned cup
Donald Trump, the president of the United States, is offering U.S. companies an opportunity to revitalize Venezuela's vast and derelict petroleum industry. This is an offer that they might not want to accept. U.S. Representatives of the Trump administration will meet with oil executives this week to discuss increasing Venezuelan oil production. Monday is a holiday. Exxon Mobil and ConocoPhillips may find it attractive to tap Venezuela's vast reserves of oil - the largest in the world at over 300 billion barrels or about one-fifth the global stock. Venezuela's oil production has a huge potential for?increase?. After years of mismanagement, and U.S.
EUROPE GAS - European prices are rising as the cold weather continues to be in sight
LONDON, January 6 - Dutch wholesale gas prices and British wholesale gasoline prices both rose on Tuesday, after a 5% drop on Monday, as the weather forecast for the next few days was cooler than previously expected. LSEG data shows that the benchmark Dutch front-month contract was up 0.45 euros at 28.00 Euro per megawatt hour at TTF hub, or $9.61/mmBtu by 0945 GMT. The contract dropped?5% from 27.33 Euro/MWh to the previous session. The Dutch day-ahead contracts?was up by 0.16 euros to 28.68 Euros/MWh. The British day-ahead gasoline price was up 0.65 pennies at 76.15 penny per therm.
Bousso: Trump offers US oil companies in Venezuela a poisoned cup
Donald Trump, the president of the United States, is offering U.S. companies an opportunity to revitalize Venezuela's vast and derelict petroleum industry. This is an offer that they might not want to accept. U.S. Representatives of the Trump Administration plan to meet with oil executives this week in order to discuss increasing Venezuelan oil production. Monday is a holiday. Exxon Mobil and ConocoPhillips may find it attractive to tap Venezuela's vast reserves of oil - the largest in the world at 300 billion barrels or roughly one-fifth the global stock. Venezuela has a huge potential to increase its oil production. After years of mismanagement and U.S.
US Sues Two California Cities over Limitations on Gas in New Buildings
On Monday, the Trump administration filed a lawsuit against two Californian cities to stop 'local laws that restrict natural-gas infrastructure and appliances in new construction. This lawsuit is the latest attack by 'the administration on energy policies which seek to limit fossil fuel use to combat climate changes. California, a Democratic stronghold in the United States, has some of the most aggressive climate change policies around the globe. Republicans, including Donald Trump, have been attacking local Democratic efforts for years to limit gas-powered devices. In the complaint filed before the U.S.
Vistra buys Cogentrix Energy for $4.7 billion amid rising power demand
Utility Vistra announced on Monday that it has agreed to purchase Cogentrix Energy from Quantum Capital Group for $4.7 billion. The company is looking to meet the growing demand for power. The shares of the company increased by nearly 5% during extended trading. The Texas-based electricity company said that the deal included $2.3 billion cash, $900 millions in Vistra shares and $1.5 billion of debt. Tax benefits are expected to offset some of this amount. This deal follows Vistra’s $1.9 billion purchase of seven gas-fired power plants from Lotus Infrastructure Partners in May 2025. The combined capacity was nearly 2,600 Megawatts.
Explainer: Status of Foreign Oil Companies in Venezuela After Maduro’s Arrest
Here are some key facts about the international oil companies operating in Venezuela. The country, which has the largest oil reserves in the world, is now in crisis following the capture of the President Nicolas Maduro.Hugo Chavez, the former president, expropriated foreign oil companies' assets in the 2000s. This strengthened the state-owned PDVSA?control over Venezuela's oilfields. Due to Washington's sanction, foreign companies must now obtain authorizations from the United States to negotiate, plan and operate projects within Venezuela. ?Oil…
US oil companies benefit after Trump signals access Venezuelan reserves
U.S. Oil Companies' Shares jumped Monday fueled by the prospect that the U.S. could gain access to Venezuela's vast reserves of oil after President Donald Trump announced that the U.S. was taking control of Venezuela following the arrest of their president. Venezuela has the largest oil reserves in the world, but its production has plummeted over the past decades because of?mismanagement?, a lack of foreign investment after the nationalization and sanctions on the oil industry. Trump stated on Saturday that the U.S. Oil Companies, the largest in the world, would spend billions to fix the oil infrastructure and infrastructure in Venezuela.
Orban: US involvement in Venezuela is good for energy markets
The U.S. decision that led to the ouster of Venezuelan President Nicolas Maduro should have a positive effect on the world's energy markets, said Hungarian Premier Viktor Orban on Monday. He added that both Venezuela and the U.S. would control half of all global oil reserves. Special Forces, the largest U.S. intervention since 1989's invasion of Panama in Latin America, swooped in on Caracas with helicopters over the weekend to apprehend Maduro and then take him to New York for a drug charge. Orban's ally Donald Trump of the United States, who exempted Hungary for 2026 from U.S. energy sanctions, made it clear that he wanted to share in Venezuela's oil wealth.
Japan's Osaka Gas begins unit at new 1,25-GW gas fired power plant in Himeji
Osaka Gas said that it had started commercial operations at its new 1,25-gigawatt, gas-fired power station in Himeji, Western Japan, on Jan. The company that also provides electricity said the plant consists of two 622.6 megawatt units. The No.2 unit is expected to start operations in May. According to a statement from the company, this facility uses natural gas as fuel and a high-efficiency gas-turbine combined-cycle system for power generation. Osaka Gas will increase its domestic thermal power production capacity to 3.2 GW from 2 GW once both units come online. Gas is a viable transition fuel to achieve the nation's net-zero emissions goal by 2050.
EUROPE GAS - European prices are easing due to profit-taking and milder weather.
Gas prices fell in Europe and Britain on Monday after reaching a month-high in the previous session. Traders took some profits and forecasts for less windy and cold weather eased demand. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 1.23 euros to 27.60 Euro per megawatt hour or $9.45/mmBtu at 0916 GMT. The contract was closed on Friday at the highest level since November 27. The Dutch day-ahead contracts was down 1,22 euros to 28.20 Euros/MWh. The British gas price for the day ahead was 0.65 pence lower at 77.75 cents per therm. Analysts at Engie EnergyScan stated that Dutch prices were falling primarily due to profit-taking.
Egypt and Qatar sign an MOU to increase LNG sales and import collaboration, Egypt says
Egypt and Qatar have signed a'memorandum of agreement' to enhance cooperation in LNG sales and imports. This includes 'terms' for supplying Qatari shipments into Egypt's Ain Sokhna port and Damietta port, Egypt's Petroleum Ministry announced on Sunday. QatarEnergy stated in a press release that the agreement included supplying Cairo with up to 24 cargoes of liquefied gas for the summer. Egypt, the Arab World's largest?nation has been working to diversify its energy sources and increase its gas production. The production began to decline?in late-2022…
Sources say that OPEC+ will maintain oil production despite tensions among its members
OPEC+ agreed to?maintain a?steady?oil output during its Sunday meeting, according to an OPEC+ delegates and a source who was familiar with the talks. This is despite the political tensions that exist between Saudi Arabia and UAE and the capture by the U.S. of Venezuela's president. The eight members of OPEC+ who pump about half a world's oil will meet on Sunday after oil prices dropped more than 18% between 2025 and 2020, their steepest annual drop since 2010. Saudi Arabia, Russia and the UAE along with Kuwait, Iraq, Algeria, Kazakhstan, Kuwait and Oman have all increased their oil production targets from April until December 2025 by 2.9 million barrels a day…
Sources say that OPEC+ will maintain oil production despite tensions among its members
OPEC+ delegates reportedly said that despite the political tensions between Saudi Arabia and the UAE?and U.S. capture the president of smaller producer 'Venezuela,' OPEC+ is likely to maintain steady oil production at its Sunday meeting. The OPEC+ meeting on Sunday, which includes eight members who pump about half of the world's crude oil, was called after oil prices dropped more than 18% between 2025 and 2020, their biggest drop in a year since then, amid concerns over an increasing oil supply. Saudi Arabia, Russia and the UAE along with Kazakhstan…
Sources say that OPEC+ will maintain its oil production policy despite tensions between Saudi Arabia and the United Arab Emirates over Yemen.
Three OPEC+ delegates stated on Friday that OPEC+ 'will?likely? maintain steady oil production at its Sunday meeting, despite the high political tensions between Saudi Arabia and UAE regarding Yemen. The eight members of OPEC+ who pump about half a world's oil met on Sunday after oil prices dropped more than 18% between 2025 and 2020, their steepest decline since that year. Saudi Arabia, Russia and the UAE have all raised their oil production targets from April to December 2025 by about 2.9 million barrels a day. This is almost 3% of global oil demand. You can agree to this by clicking here. In?November, pause the output increases for January, March, and February.
Wall Street's final session of the year is lower than usual, but it will end 2025 with a big annual gain
Wall Street's major indexes finished lower in the last trading session of 2025 but still racked up big gains for the year after a rollercoaster?year marked by uncertainty over President Donald Trump's trade tariffs and an euphoria surrounding AI-focused stocks. S&P 500 and Dow Jones, as well as Nasdaq, all posted double-digit increases this year. This is their third consecutive year of gains, which was last seen between 2019-2021. The Dow posted its eighth consecutive monthly gain, which is the longest streak since 2017-2018. The rally was boosted by an insatiable demand for artificial intelligence stocks, which pushed all three indices to new record highs.
Saipem awarded $425 million contract to develop Turkey's largest offshore gas field
Italian engineering group Saipem won a $425-million contract to continue the development of Turkey’s largest offshore natural gas field. The contract, awarded by Turkish Petroleum OTC covers the third phase in a project for the development of the Sakarya Field, with a focus on the construction three additional?pipelines, totaling around 153 km along with subsea structures. Saipem announced in a press release that these facilities will connect the newly discovered Goktepe Gas Reserve?to Sakarya’s phase 3 facility. The Goktepe field, located at a depth of 2…
The Dutch benchmark is expected to finish the year 40% lower than last year's price.
The Dutch and British gas wholesale prices were not much changed on Wednesday morning as wind power output curbed gas plant demand. However, the benchmark Dutch contract for the front month of 2025 is expected to be around 40% lower than it was at the beginning of the year. LSEG data shows that the benchmark Dutch front-month contract was up 0.32 euros at 28.12 Euros per megawatt hour or $9.66 /mmBtu at 0904 GMT. LSEG data shows that this is a 42% drop from the last transaction on December 31, 2020 of 48.40 eur/MWh. The Dutch benchmark fell despite Europe's?efforts to phase-out remaining Russian gas imports.