Egypt has finalized a sweeping series of liquefied natural gas (LNG) supply agreements with Saudi Aramco, Shell Plc, Trafigura, and several other major traders, as the country’s struggles to shift back to long-term net exporter, rather than importer amid a deepening domestic supply crunch, according to a Bloomberg report. State-owned Egyptian Natural Gas Holding Co. (EGAS) secured as many as 290 LNG cargoes over the next two and a half years, starting as early as next month. Alongside Aramco, Shell, and Trafigura, volumes will also be sourced…

Egypt has finalized a sweeping series of liquefied natural gas (LNG) supply agreements with Saudi Aramco, Shell Plc, Trafigura, and several other major traders, as the country’s struggles to shift back to long-term net exporter, rather than importer amid a deepening domestic supply crunch, according to a Bloomberg report. State-owned Egyptian Natural Gas Holding Co. (EGAS) secured as many as 290 LNG cargoes over the next two and a half years, starting as early as next month. Alongside Aramco, Shell, and Trafigura, volumes will also be sourced…

Oklo is starting to develop a real knack for catching short sellers offsides... In what is one of what we believe will be many similar announcements, Oklo shares surged 29% on Wednesday after the company was named the intended awardee for a Department of Defense project to deliver clean energy to Eielson Air Force Base in Alaska. The Defense Logistics Agency Energy issued a Notice of Intent to Award (NOITA), designating Oklo as the preferred provider following a competitive evaluation process. Under the proposed agreement, Oklo will design, build,…

The UK’s grid operator has seen its balancing costs jump as more wind farms in Scotland are being paid not to produce electricity to not overburden the constrained network in the region. When wind generation is high in constrained regions of the network, such as Scotland, the National Energy System Operator (NESO) must take actions to turn down wind output and turn on replacement energy in unconstrained regions to keep the system balanced. Grids must have a constant balance between electricity supply and demand to avoid blackouts. NESO’s…

The UK’s grid operator has seen its balancing costs jump as more wind farms in Scotland are being paid not to produce electricity to not overburden the constrained network in the region. When wind generation is high in constrained regions of the network, such as Scotland, the National Energy System Operator (NESO) must take actions to turn down wind output and turn on replacement energy in unconstrained regions to keep the system balanced. Grids must have a constant balance between electricity supply and demand to avoid blackouts. NESO’s…

The UK’s grid operator has seen its balancing costs jump as more wind farms in Scotland are being paid not to produce electricity to not overburden the constrained network in the region. When wind generation is high in constrained regions of the network, such as Scotland, the National Energy System Operator (NESO) must take actions to turn down wind output and turn on replacement energy in unconstrained regions to keep the system balanced. Grids must have a constant balance between electricity supply and demand to avoid blackouts. NESO’s…

The United Nations’ nuclear watchdog on Thursday declared Iran in breach of its nuclear non-proliferation obligations, just as tensions in the Middle East escalate and Oman prepares to host the next round of indirect U.S.-Iran nuclear talks. The 35-nation Board of Governors of the International Atomic Energy Agency (IAEA) passed a resolution slamming Iran’s non-compliance with its obligations. The resolution was proposed by the U.S., the UK, France, and Germany. At the closed-door vote, 19 of the 25 countries voted in favor of the resolution,…

Alberta is working to engage private backers for a new pipeline to ship about 1 million barrels per day (bpd) of crude from Canada’s oil-producing province to British Columbia on the West Coast, Alberta Premier Danielle Smith has said. The pipeline would run from the oil sands in Alberta to the Port of Prince Rupert on British Columbia’s northwest coast, and to international markets afterwards, according to the plans of the province. Amid soured relations with its top trading partner under U.S. President Donald Trump, Canadian policymakers…

Alberta is working to engage private backers for a new pipeline to ship about 1 million barrels per day (bpd) of crude from Canada’s oil-producing province to British Columbia on the West Coast, Alberta Premier Danielle Smith has said. The pipeline would run from the oil sands in Alberta to the Port of Prince Rupert on British Columbia’s northwest coast, and to international markets afterwards, according to the plans of the province. Amid soured relations with its top trading partner under U.S. President Donald Trump, Canadian policymakers…

The expanded Trans Mountain pipeline in Canada could raise its capacity by another 75,000 barrels per day (bpd) by early 2027, which could potentially increase Canadian crude oil exports from its Pacific Coast to non-U.S. customers. In a potential first stage of a further capacity increase, the pipeline – currently owned by the Canadian federal government – could raise the volume throughput by using chemicals to help crude flow more easily, Mark Maki, chief executive of Trans Mountain, said at a Calgary conference, as carried by Bloomberg.…

Energy Secretary Chris Wright does not expect U.S. crude oil production to decline in 2026, although the Energy Information Administration forecast such a development. “That is a projection — we don’t know what’s going to happen next year,” Wright told Bloomberg in an interview. “We have seen weak prices for a few months, and if prices are too low for an economic incentive, you’ll see some drilling reduce on the margin. I think it’s unlikely you’ll see enough reduction to actually see a decline…

Earlier in the year, U.S. Treasury Secretary Scott Bessent unveiled his ambitious“3-3-3” plan wherein the Trump administration will target real GDP growth of 3% per year; cut the annual budget deficit from 7% of GDP to 3% and ramp up domestic oil production by 3 million barrels per day in keeping with Trump’s “drill, baby, drill” mantra. Economy gurus warned that these goals are hardly grounded in reality, with energy experts predicting that U.S. oil production is likely to flatline or even decline despite Trump’s…

Iran is making “good progress” on its first concerted oil drilling operation in the Caspian Sea in 30 years, a senior energy source who works closely with the Islamic Republic’s Petroleum Ministry exclusively told OilPrice.com over the weekend. “The signs are promising in the block [‘18’ in the Roudsar formation from 70-metre waters around 15 kilometres from the northern Iranian coastline] and if it continues to be so then there is great potential there,” he said. “Official estimates are that this…

Guyana's offshore oil industry is set to take a major leap forward as the One Guyana floating production, storage, and offloading (FPSO) vessel readies its first export cargo. According to Reuters, the inaugural shipment of the newly branded 'Golden Arrowhead' crude grade is slated for late August to early September, marking a critical milestone for the ExxonMobil-led consortium that includes Hess Corp. and China's state-run CNOOC. The One Guyana FPSO, now the fourth production vessel operating in the prolific Stabroek Block, will push Guyana's…

Activists are suing TotalEnergies for greenwashing. The supermajor’s alleged crime: saying that natural gas is better for the environment than coal and oil. Normally, activists focus on oil when they attack the energy industry, but lately, they have shifted their attention to gas. The TotalEnergies case may be only the beginning of a new offensive. Less than a decade ago, natural gas was broadly accepted as what many called “a bridge fuel” from the hydrocarbon era to the post-hydrocarbon era of low-emission energy. Gas was going…

The rise of artificial intelligence (AI) on the global stage has resulted in data centers putting immense strain on global power grids, a turnaround from their previous role as minor electricity consumers. As chatbots become a permanent fixture in work and daily life, demand is being propelled to record heights as each search consumes power. While US data centers consumed 50 terawatt-hours (TWh) of power a decade ago, that figure has risen to 140 TWh today, thereby accounting for 3.5% of the country’s total electricity consumption.  …

Weeks after Germany decided to reverse course and 're-embrace' nuclear power following their supreme idiocy on the matter, the UK government announced on Tuesday that it would invest 14.2 billion pounds (US$19.3 billion) to build a new nuclear plant in the southeast of England. The move was revealed by the Department for Energy Security and Net Zero as part of its broader spending review, which will lay out priorities for the next four years. The new plant, named Sizewell C, will be located in Suffolk county, and is predicted to create around 10,000…

Via Metal Miner The Copper Monthly Metals Index (MMI) moved sideways, rising by a modest 1.45% from May to June. Though copper prices today appear mostly stable, significant opportunity for volatility remains. Copper Prices Open June With Uncertainty Comex copper prices appeared surprisingly stable in the first weeks of June as they took a pause from the heightened volatility that had plagued the market since the start of the year. While it remained sideways, the trend showed modest optimism. As of June 9, prices sat roughly 10 cents higher than…

The U.S. State Department is preparing to order the departure of non-essential personnel from its embassy in Baghdad amid escalating security risks tied to stalled nuclear negotiations with Iran.  Although no formal evacuation has been executed, contingency plans are in motion as tensions in the Gulf rise sharply, stoking fresh concerns over regional energy stability and global crude supplies. With preparations underway, on Wednesday, June 11 at 2:47p.m. ET, Brent crude was trading 3.84% at $69.44, while WTI was trading up 4.36%, at $67.81. …

The U.S. State Department is preparing to order the departure of non-essential personnel from its embassy in Baghdad amid escalating security risks tied to stalled nuclear negotiations with Iran.  Although no formal evacuation has been executed, contingency plans are in motion as tensions in the Gulf rise sharply, stoking fresh concerns over regional energy stability and global crude supplies. With preparations underway, on Wednesday, June 11 at 2:47p.m. ET, Brent crude was trading 3.84% at $69.44, while WTI was trading up 4.36%, at $67.81. …