Syria’s attempt to rebuild its oil and gas sector entered a new phase in January 2026, when forces of the al-Sharaa government pushed into territories long controlled by the Kurdish-led Syrian Democratic Forces (SDF) and forced a new ceasefire. Under the agreement reached on January 18, Damascus assumed administrative and security control over all major oil and gas assets previously held by the SDF in the northeast of the country. For the first time since 2011, the Damascus government regained effective authority over most of the country’s…

The global clean energy transition hinges on the continued advancement and integration of energy storage, and especially utility-scale and long-term models. As the world adds renewable energy capacity at a breakneck pace, keeping up with supportive infrastructure additions is integral to maintaining energy security. While solar panels and wind turbines get all the attention, power lines and battery packs are just as critical, if far less glamorous.  In fact, energy storage is quickly heating up to be “clean energy’s next trillion-dollar…

Tesla’s energy business could become $20 billion to $50 billion more valuable if Elon Musk’s plan to build 100 gigawatts of yearly solar cell manufacturing capacity in the United States pans out, analysts at Morgan Stanley say. “The solar opportunity is underestimated,” Musk told analysts on Tesla’s Q4 earnings call last month. “We think the best way to add significant capability to the grid is solar and batteries on Earth and solar in space,” he added. As Musk sees opportunities in the solar manufacturing…

Last year saw a record number of deals in the Canadian oil patch, with sectoral consolidation reaching an eight-year high. But a new report from Calgary-based Sayer Energy Advisors anticipates mergers and acquisitions in Canada’s upstream oil and gas will moderate over the next 12 months. The report’s findings go against the expectations of industry analysts and executives of more US buyers searching for acquisition targets, along with more favorable government policies towards the sector spurring more action in 2026. According to the…

Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas. Initial cargoes were sold to Asian buyers for delivery in late February or early March 2026. Aramco will initially sell 4 to 6 cargoes per month, with each cargo consisting of approximately 500,000 barrels. Condensate is a high-value,…

Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas. Initial cargoes were sold to Asian buyers for delivery in late February or early March 2026. Aramco will initially sell 4 to 6 cargoes per month, with each cargo consisting of approximately 500,000 barrels. Condensate is a high-value,…

Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas. Initial cargoes were sold to Asian buyers for delivery in late February or early March 2026. Aramco will initially sell 4 to 6 cargoes per month, with each cargo consisting of approximately 500,000 barrels. Condensate is a high-value,…

The global electric power business is changing. The economic hegemony of fossil fuels (and perhaps nuclear as well) is gradually being undermined by the adoption of renewable generating technologies such as solar and wind.  This economic and technological transition resembles warfare or a sporting event with distinct winners and losers. Our argument is based on a stunningly non-controversial premise—namely, that superior, lower-cost technologies producing an identical commodity eventually achieve dominance. Let’s look at a previous…

Libya's state-owned National Oil Corporation (NOC) has announced U.S. Oil & Gas major Chevron (NYSE:CVX) among the winners of its first oil and gas licensing round in nearly two decades, signaling a major push to revive the country's hydrocarbon sector. The bidding round also awarded exploration and production rights to several foreign companies, including Italy’s Eni S.p.A. (NYSE:E), Spain’s Repsol S.A. (OTCQX:REPYY), QatarEnergy and Nigeria’s Aiteo. Chevron secured an onshore Sirte S4 (also referred to as Contract Area 106)…

Libya's state-owned National Oil Corporation (NOC) has announced U.S. Oil & Gas major Chevron (NYSE:CVX) among the winners of its first oil and gas licensing round in nearly two decades, signaling a major push to revive the country's hydrocarbon sector. The bidding round also awarded exploration and production rights to several foreign companies, including Italy’s Eni S.p.A. (NYSE:E), Spain’s Repsol S.A. (OTCQX:REPYY), QatarEnergy and Nigeria’s Aiteo. Chevron secured an onshore Sirte S4 (also referred to as Contract Area 106)…

The EV charger story is being treated like a consumer inconvenience – a queueing problem, a pricing problem, a reliability problem. It’s none of those first. It’s an infrastructure and grid stability problem dressed up as a charging debate. It was reported that this week that the UK has nearly 88,000 charge points, while government estimates suggest we may need 250,000 to 550,000 by 2030. Even the lower end implies a sustained build rate far above what we’ve normalised as “progress”. And it’s not just the…

Japan's Tokyo Electric Power Company (TEPCO) has restarted Unit 6 of the Kashiwazaki-Kariwa nuclear power plant, following a 14-year shutdown following the 2011 Fukushima disaster. The 1,360 MW reactor is the first unit to come online since the nuclear accident that saw Japan halt operations at all its nuclear plants pending regulatory changes.  The accident was caused by the 9.1-magnitude T?hoku earthquake - the third-largest in the world since 1900 - that triggered a tsunami, resulting in electrical grid failure and damage to nearly all…

In the coming weeks, media frenzy around the FY2025 results of Saudi oil and gas giant Saudi Aramco will intensify. The world’s largest listed oil company is ready to present its 2025 results, and analysts will be focusing on the company’s dividends, but they should be watching other strategic issues, however. The Saudi giant’s financial arc in 2024–2025 shows the story of a behemoth caught between two irreconcilable demands: it needs not only to act as the Kingdom’s principal fiscal engine but also to sustain the…

India’s government has asked refiners to consider buying more crude cargoes from the U.S. and Venezuela on the spot market as Indian oil purchases are under scrutiny following the trade deal with the United States.  Indian refiners are steering clear of Russian crude in the wake of the trade deal with the United States, which the White House said includes India’s commitment “to stop directly or indirectly importing Russian Federation oil.”  The 25% tariff on India that President Donald Trump placed in August 2025,…

India’s government has asked refiners to consider buying more crude cargoes from the U.S. and Venezuela on the spot market as Indian oil purchases are under scrutiny following the trade deal with the United States.  Indian refiners are steering clear of Russian crude in the wake of the trade deal with the United States, which the White House said includes India’s commitment “to stop directly or indirectly importing Russian Federation oil.”  The 25% tariff on India that President Donald Trump placed in August 2025,…

Crude oil inventories in the United States increased by 8.5 million barrels during the week ending February 6, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 428.8 million barrels according to government data, which is still 3% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories rose by 13.4 million barrels. Crude prices…

Syria expects to award oil and gas exploration licenses to major international oil firms as it looks to tap its estimated huge reserves, the chief executive of the state-owned Syrian Petroleum Company told the Financial Times in remarks published on Wednesday.   “There is a lot of land in the country that has not been touched yet. There are trillions of cubic metres of gas,” Youssef Qablawi, CEO of Syrian Petroleum Company, told the FT. Syria is tapping U.S. firms Chevron and ConocoPhillips and European majors TotalEnergies…

Syria expects to award oil and gas exploration licenses to major international oil firms as it looks to tap its estimated huge reserves, the chief executive of the state-owned Syrian Petroleum Company told the Financial Times in remarks published on Wednesday.   “There is a lot of land in the country that has not been touched yet. There are trillions of cubic metres of gas,” Youssef Qablawi, CEO of Syrian Petroleum Company, told the FT. Syria is tapping U.S. firms Chevron and ConocoPhillips and European majors TotalEnergies…

Iranian President Masud Pezeshkian has said his country is open to admitting international inspectors to prove its nuclear program is "peaceful," in comments marking the 47th anniversary of the Islamic Revolution, as US naval forces stand poised in the region for possible military strikes. "We are not seeking to acquire nuclear weapons. We have stated this repeatedly and are ready for any verification," he said on February 11, at anniversary celebrations taking place against a backdrop of a deadly crackdown in which security forces killed thousands…

Fourth-quarter earnings at French supermajor TotalEnergies (NYSE: TTE) fell by 13% from a year earlier as higher upstream production and improved refining margins couldn’t offset the decline in oil prices.  TotalEnergies on Wednesday reported an adjusted net income of $3.84 billion for the fourth quarter, in line with the analyst consensus estimate of $3.8 billion.   Cash flow remained more resilient, as cash flow from operations (CFFO) of $7.2 billion rose by 2% sequentially and fell by 7% from a year earlier, even if oil…