Tony Blair’s think tank has called for the government to ditch its 2030 clean power target as it urged the Labour government to focus on making electricity cheaper in order to persuade Brits to use it over gas.  In a report published by the Tony Blair Institute (TBI), researchers called for the government to “solve” problems including the decline of North Sea oil production, which had made the UK less secure.  It is the latest indication that Blair has split from Keir Starmer’s government on key issues after the…

The United Arab Emirates has broken ground on a combined solar power and battery storage facility designed to deliver one gigawatt (GW) of continuous, round-the-clock baseload renewable energy. The project, described by developers as the largest and most technologically advanced of its kind, represents a capital investment exceeding $6 billion. The facility is being developed by Abu Dhabi Future Energy Company PJSC – Masdar and Emirates Water and Electricity Company (EWEC). Once operational in 2027, the system aims to overcome the intermittency…

Russia-owned Naftna Industrija Srbije (NIS) has halted crude processing as U.S. sanctions choke oil flows to Serbia, triggering fears of a fuel shortage ahead of winter. A shipment of roughly one million barrels of Kazakh KEBCO crude that arrived at Croatia’s Omisalj terminal on 9 October remains blocked after deliveries through the JANAF pipeline were suspended on 8 October, according to multiple industry sources cited by Reuters on Friday.  The U.S. Treasury’s Office of Foreign Assets Control allowed a sanctions waiver on NIS…

Russia-owned Naftna Industrija Srbije (NIS) has halted crude processing as U.S. sanctions choke oil flows to Serbia, triggering fears of a fuel shortage ahead of winter. A shipment of roughly one million barrels of Kazakh KEBCO crude that arrived at Croatia’s Omisalj terminal on 9 October remains blocked after deliveries through the JANAF pipeline were suspended on 8 October, according to multiple industry sources cited by Reuters on Friday.  The U.S. Treasury’s Office of Foreign Assets Control allowed a sanctions waiver on NIS…

Oil and gas producers and oilfield services providers are slashing workforce numbers as the mergers wave in the sector gives way to reorganization and restructuring.    Over the past few months, the U.S. and European supermajors, as well as large independent producers, smaller players, and the world’s top services providers, have announced – either publicly or via internal memos – that they begin processes to eliminate roles, office-based jobs, and contractor numbers.  Chevron, ExxonMobil, ConocoPhillips, BP,…

Oil and gas producers and oilfield services providers are slashing workforce numbers as the mergers wave in the sector gives way to reorganization and restructuring.    Over the past few months, the U.S. and European supermajors, as well as large independent producers, smaller players, and the world’s top services providers, have announced – either publicly or via internal memos – that they begin processes to eliminate roles, office-based jobs, and contractor numbers.  Chevron, ExxonMobil, ConocoPhillips, BP,…

Oil and gas producers and oilfield services providers are slashing workforce numbers as the mergers wave in the sector gives way to reorganization and restructuring.    Over the past few months, the U.S. and European supermajors, as well as large independent producers, smaller players, and the world’s top services providers, have announced – either publicly or via internal memos – that they begin processes to eliminate roles, office-based jobs, and contractor numbers.  Chevron, ExxonMobil, ConocoPhillips, BP,…

Oil and gas producers and oilfield services providers are slashing workforce numbers as the mergers wave in the sector gives way to reorganization and restructuring.    Over the past few months, the U.S. and European supermajors, as well as large independent producers, smaller players, and the world’s top services providers, have announced – either publicly or via internal memos – that they begin processes to eliminate roles, office-based jobs, and contractor numbers.  Chevron, ExxonMobil, ConocoPhillips, BP,…

Oil and gas producers and oilfield services providers are slashing workforce numbers as the mergers wave in the sector gives way to reorganization and restructuring.    Over the past few months, the U.S. and European supermajors, as well as large independent producers, smaller players, and the world’s top services providers, have announced – either publicly or via internal memos – that they begin processes to eliminate roles, office-based jobs, and contractor numbers.  Chevron, ExxonMobil, ConocoPhillips, BP,…

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total rig count in the US rose this week to 550, according to Baker Hughes, down 35 from this same time last year. The number of active oil rose by 2 in the reporting period, according to the data, reaching 420. Year over year, this represents a 60-rig decline. The number of gas rigs stayed the same at 121, which is 20 over this time last year. The miscellaneous rig count stayed the same…

Energean has signed a transmission agreement with Israel Natural Gas Lines Ltd for capacity in the Nitzana pipeline, the new planned route for Israeli gas to Egypt, the UK-based gas producer said on Friday.  The Nitzana pipeline is a new onshore pipeline that will be built from Ramat Hovav in Israel to the border with Egypt in the Nitzana area.    The plan was announced last month. Chevron and state-owned Israel Natural Gas Lines signed an agreement to build a pipeline from Israel’s giant Leviathan gas field to Egypt,…

The Trump Administration is working to outmaneuver China to ensure a US firm gains access to reserves of tungsten in Kazakhstan. The metal is a critical component used in the production of military ammunition and weaponry, as well as in medical equipment and lightbulbs. US Department of Commerce officials have been working to advance discussions involving a private US entity, Cove Kaz Capital Group LLC, and Kazakhstan’s Samruk-Kazyna sovereign wealth fund to secure development rights to two major tungsten deposits in Kazakhstan, according…

Oil markets roared back to life after Trump’s sanctions on Russia’s top oil producers sent prices surging. Friday, October 24, 2025Trump’s sanctions on Russia’s top oil firms have cut short the past weeks’ downward pricing movement, with stories of record high crude on water, flattening backwardation curves and weakening Chinese SPR purchases now all put on the back burner. With ICE Brent soaring to $66 per barrel, up $5 per barrel in just one day, Thursday’s rally failed to trigger incremental moves upwards…

Germany’s utility giant Uniper expects its adjusted net income for the first nine months of the year to be five times lower compared to last year’s levels, on the back of losses from hedging and lost revenues due to the non-delivery of Russian gas, the state-owned firm said on Friday.   Uniper, which reports full nine-month results on November 6, expects earnings “to remain significantly below the previous year's nine months figures as was already the case in the first quarter and the first half year of 2025,”…

Germany’s utility giant Uniper expects its adjusted net income for the first nine months of the year to be five times lower compared to last year’s levels, on the back of losses from hedging and lost revenues due to the non-delivery of Russian gas, the state-owned firm said on Friday.   Uniper, which reports full nine-month results on November 6, expects earnings “to remain significantly below the previous year's nine months figures as was already the case in the first quarter and the first half year of 2025,”…

The war economy that has fueled Russia’s all-out assault on Ukraine for 45 months has been funded by Moscow’s exports of oil and gas and, critics say, the West's unwillingness -- as well as China and India's disinterest -- to fully turn off the spigot. Now the United States -- along with the European Union and Britain -- has taken aim at some of Russia’s biggest oil and gas companies, and their sprawling networks of subsidiaries and affiliates. The US Treasury Department announced on October 22 that it was sanctioning state-controlled…

Greece on Friday announced it is awarding four offshore oil and gas exploration blocks to a Chevron-led consortium.  Following evaluations and negotiations with Chevron, the joint venture Chevron Greece Holdings – Helleniq Upstream was picked as the selected applicant in the Greek exploration tender launched in April.   The Chevron-led bid was the sole applicant in the tender for the blocks, named South of Peloponnese, A2, South of Crete I, and South of Crete II.  Chevron and Greece now need to finalize the concession…

Politics, Geopolitics & Conflict In Sudan, drone strikes on Khartoum International Airport in the Sudanese capital hit just before its planned reopening, delaying operations and reinforcing doubts over the Sudanese army’s ability to secure the capital, while simultaneously undermining a new transit agreement with Juba to safeguard South Sudan’s oil exports. The paramilitary Rapid Support Forces still hold key sections of the pipeline and surrounding territory, leaving crude flows vulnerable and turning both the airport attack and…

Al-Qaeda’s attack in Al-Mahfad, in southern Yemen, which killed nine Yemeni soldiers, underscores the fragility of the southern front and the extent to which external actors are now managing (not directing) Yemen’s war. AQAP (al-Qaeda in the Arabian Peninsula) is operating across the gaps between rival forces nominally under the Presidential Leadership Council, but practically loyal to separate sponsors. The STC dominates Aden and much of Lahj and Abyan with Emirati support. Islah-aligned units remain entrenched in Marib and parts of…

The UK Government should avoid accelerating the decline of North Sea oil and gas production through policies, as job losses amid the decline in Scotland’s oil and gas industry currently exceed jobs created by clean energy, the UK Parliament’s Scottish Affairs Committee said in a new report on Friday.  The report, which is the first part of the committee’s inquiry into GB Energy and the net zero transition, warns that until clean energy jobs can be created at the scale needed to match current oil and gas job losses, the UK…