Aker BP raises dividend despite 2026 output dip
Aker BP, a Norwegian oil firm, announced on Wednesday that it will increase its quarterly dividend by 5% in '2026 despite an anticipated decline in production. Its profit for the last quarter of 2017 was below expectations. The company's poll of 16 analysts showed that the group's earnings were below expectations. Karl Johnny Hersvik, CEO of Aker BP said that "our major development projects" had also made good progress. Aker BP stated that until the new projects are completed, such as the large Yggdrasil project, Aker BP’s production is expected to drop?this coming year?to between 370,000 and 400,000 barrels equivalent per day (boed), down from the 420,000 boed - in 2025.
EIA: US natgas production to reach record highs in 2026 while demand remains steady
The U.S. Energy 'Information 'Administration stated in its Tuesday Short-Term Energy Outlook that U.S. Natural Gas output will reach a?record high in 2026 while demand will remain steady. EIA predicted dry gas production would rise from a new record of 107.6 billion cubic feet per day (bcfd) in 2025, to 110.0 bcfd by 2026, and 111.2 bcfd by 2027. The agency projected that domestic gas consumption would remain at 91.6 billion cubic feet per day (bcfd) in 2026. This is the same as the record-high 91.6 Bcfd set in 2025. It will then ease to 91.5 Bcfd by?2027. EIA forecasts from January were 108.8 Bcfd in production and 90.3 Bcfd in?demand.
EIA: US power consumption will surpass records in 2026 and '27
The Energy Information Administration's Short-Term Energy Outlook released on Tuesday said that the U.S. electricity consumption will continue to rise in 2026-2027. This is after it reached its second consecutive record?high in 2025. The EIA predicted that power demand would rise from 4,195 billion kilowatt hours in 2025, to 4,268 in 2026, and 4,372 in 2027. The demand for electricity is increasing, in part because of data centers dedicated to artificial?cryptocurrency and artificial intelligence. Also, homes and businesses are using less fossil fuels to heat and transport their vehicles and use more electricity.
Grupo Carso, owned by Mexican billionaire Slim, confirms Pemex's contract with Macavil Gas Field
Grupo Carso, owned by Mexican billionaire Carlos Slim, confirmed on Tuesday that it had signed an agreement with the state-owned energy company Pemex for the 'development of onshore Macavil in southern Mexico. The contract focuses on natural gas and condensate. Last week, it was reported that Pemex - which requires large amounts of capital to boost production -?had given the contract for Macavil, to a firm?owned? by Slim. Slim has been strengthening his presence in the local energy industry and his relationship to Pemex over the past few years. This is part of a broader business empire, which includes telecommunications and infrastructure, as well as consumer goods.
In January, US LNG imports accounted for almost half of Spain’s gas supply.
Data released on Tuesday showed that liquefied natural gases from the United States accounted for 44.4% of Spain's total imports of gas in January. This is a significant increase from last year. As Europe tries to reduce its energy imports from Russia following the invasion of Ukraine, the U.S. is now the dominant LNG supplier. Tariffs and the President Donald Trump's move to take over Greenland have raised concern among some officials regarding the?growing dependence on U.S. Energy. According to Enagas, the Spanish gas grid operator, Spain imported the equivalent of 15,259 gigawatt hours (GWh) from the United States in January.
BP suspends share buybacks to reduce debt, sending shares down 7%
On Tuesday, BP suspended its share buybacks. It also took charges of about $4 billion on its renewables assets and biogas assets. This sent its shares down by 7% during afternoon trading. The oil major said that it will shift money from its buybacks into shrinking debt and refocusing investment in oil and natural gas projects, where it expects higher returns. Analysts at Berenberg were not surprised that buybacks have been removed, but they said the market viewed it negatively, along with BP's decision to drop its pledge to pay between 30% and 40% of operating cash flow as dividends and stock buybacks.
Saudi and US firms partner on northeast Syria Energy Project
According to two sources with knowledge of the plans, two Saudi Arabian firms and three U.S. companies are planning to form a consortium to explore and produce oil and gas in the?northeastern?Syria. The sources stated that Baker Hughes, Hunt Energy, and Argent LNG plan to partner with Saudi Arabia's ACWA Power, and TAQA to complete the project. It would cover four to five exploration blocks in the northeastern area. This would be one of many?big business deals? that have spanned the Syrian economy since the former autocrat Bashar Al-Assad was overthrown by Islamist rebels who became rulers a year ago. And after the'most stringent U.S. sanction were lifted in December.
BP confirms that it has applied for an OFAC license to develop the Venezuela/Trinidad Gas Field
BP wants a license to 'develop' its Manakin Cocuina Gas Field that crosses the border between Trinidad and Tobago, Venezuela and Trinidad. This was revealed by interim BP CEO Carol Howle on Tuesday. Shell's Dragon and Manatee project and BP's Manakin are among the energy companies that have moved forward with their plans in Venezuela since the U.S. captured former Venezuelan President Nicolas Maduro. BP is developing the?field in Trinidad to convert more than 1 trillion cubic feet of natural gas into liquefied gas for export. BP owned 45% of Trinidad’s flagship Atlantic LNG plant in 2025. This was 15% of BPs LNG total production.
Equinor, a Norwegian oil and gas company, plans to increase its international production by 2030.
Equinor’s international oil-and-gas portfolio will grow?in the coming years, as the Norwegian energy company targets a?sharply?increased?output abroad in 2030. Equinor produces oil and natural gas in seven other countries than Norway after recent divestment in Argentina. This is down from 12 in 2019. Equinor's goal is to increase overseas oil production from 730,000 barrels per day in 2025 to more than 900,000. This would be a 23% increase. Philippe Mathieu stated that despite the divestment, we are still seeing growth of 900,000. The company's Bacalhau,?Raia and Sparta projects, which are operated by Shell, in the U.S.
China's coal production in 2026 is expected to grow at the slowest pace this decade, despite lower imports
A major coal industry group announced?on? Tuesday that China's coal production is expected to increase by 35 million metric tones to 4.86 billion tons in 2026. This would be the slowest rate this decade, despite?projections? of a second consecutive drop in annual imports as a result of Indonesia, its top supplier, ceasing spot exports. China Coal Transportation and Distribution Association said that production by the world's largest producer, consumer and imported of coal will rise 0.7% in this year while imports will fall 5.1% to 465 millions tons.
Presidio, a US energy company, plans to use a Goldman Sachs debt facility worth $1 billion to finance deals.
Presidio Investment Holdings and Goldman Sachs are working on a debt?facility of up to $1 billion, which will give the U.S. Oil and Gas Producer a war chest to pursue acquisitions when it becomes a public listed company. Energy producer EQV Ventures Acquisition Corp. will list the company in a few weeks through a merger with blank-check firm EQV Ventures Acquisition Corp. Presidio's model is to improve production by improving operations at existing oil and gas fields, instead of prospecting new drilling sites, in order to offer steady returns to investors. The debt facility allows Presidio, based in Fort Worth, Texas, to finance the purchase of new assets.
Norway's Vaar Energi raises production goal, beats profit expectations
Vaar Energi is majority owned by Italy's Eni. On?Tuesday, it raised its production target and reported a higher than expected operating?profit in the fourth quarter. However, Vaar Energi said that they would be cautious with their dividend guidance because of lower oil and gas prices. Oslo-listed Vaar’s earnings before interest, tax and other expenses for October through December dropped 5.8% year-on-year to $947 millions on lower oil prices. This beat the $838 million average forecast of 13 analysts in a poll compiled by the company. Vaar CEO Nick Walker stated in a press release that "we are proud to have delivered transformational... growth in 2025.
Sources say that Venezuela's Orinoco Belt is loosening, which helps to boost oil production to 1 million barrels per day.
Sources close to the operations reported that Venezuela's state-owned?oil firm PDVSA reversed the majority of output cuts in its own oilfields and joint ventures located along the Orinoco Belt. Total production has increased to close to one million barrels a day. OPEC member Venezuela was forced to reduce its crude production after Washington imposed an oil blockade in December in order to put pressure on Nicolas Maduro. Maduro's capture at the beginning of January resulted in the U.S. overseen government of interim President Delcy Rodriguez. Millions of barrels worth of exportable crude oil were left in Venezuelan tanks and vessels due to the strict U.S.
Sources say that increased Orinoco Belt production boosts Venezuela's crude oil production to one million barrels per day.
Sources close to the operations of Venezuela's PDVSA state oil company said that the company reversed the majority?of its output cuts at its own oilfields and joint-ventures in the country's main?crude region – the Orinoco Belt – bringing the nation's production to close to one million barrels per a day (bpd). The OPEC nation had to reduce crude production, its main revenue source, after an oil blockade imposed by Washington in December to pressure President Nicolas Maduro. He was captured early January and replaced with the U.S. overseen government of Delcy Rodriguez. The strict 'U.S. The strict 'U.S.
Transocean buys Valaris for $5.7 billion to expand global offshore rig fleet
Transocean, a provider of oilfield services, announced on Monday that it will acquire Valaris, a peer company, in a $5.8 billion all-stock deal. This acquisition will increase its exposure to deepwater, harsh environment and shallow water basins around the world. Transocean shares dropped 1.9% to $5.28 while Valaris shares rose 20.7% to $75.43 during premarket trading. Oilfield service providers are following energy producers in their pursuit of?deals that will help them navigate the operational and pricing pressures as customers reduce?spending for new wells and prioritise returns to investors.
Shell is in need of a big deal or discovery as its oil and gas reserves are dwindling
Shell and analysts agree that the company needs to find a way to increase production to compensate for an expected shortage of between 350,000 and 800,000 barrels equivalent to oil per day in 2035, due to mature fields that are unable to meet its output targets. Oil majors have resisted the urge to 'top up' their reserves for years. They were aware that a rapid transition from oil and gas to other energy sources could reduce demand. As the transition is slow and the demand continues to rise, the spotlight has returned to those who have enough fuel in their tank.
Gas prices in Europe fall due to forecasted milder temperatures
Dutch and British wholesale gasoline prices dropped on Monday morning due to forecasts of milder temperatures than previously anticipated. Data compiled by LSEG revealed that the benchmark Dutch front-month contracts at?the TTF Hub were down 2.13 Euros?at a price of?32.72 per megawatt hour (MWh) or $11.39 /mmBtu by 0926 GMT. The Dutch April contract dropped by 1.73 euros to 30.67 euros/MWh. The British contract for the day-ahead price dropped by 8.25 pence to 82.25 p/therm. LSEG data shows that the average temperature in North-West Europe is expected to be milder by Friday than was previously?expected.
New Zealand to build LNG import facility for energy security
Simon Watts, New Zealand's Energy Minister, announced on Monday that the country has selected contractors to build a LNG import facility. This will boost energy security and provide a reliable backup source of power, as well as support economic growth. By the middle of the year, the government hopes to sign a deal for an LNG import facility to be built in Taranaki on New Zealand's North Island. The facility will be ready in 2027, or even earlier in 2028. The model allows LNG to be imported only in large quantities and when required, thus limiting the exposure to global gas prices.
What can oil prices tell you about the market? Not a lot: Bousso
The global oil market is experiencing a series of price spikes due to geopolitical tensions and the opaque stockpiling. Western sanctions and tightening Western sanction are also causing traders to be in the dark. Prices may not accurately reflect the physical fundamentals of commodities due to the growing influence of unpredictable external forces on this world's most liquid and largest commodity market. In fact, it appears that the global oil markets are struggling to find a balance between supply and demand. The International Energy Agency predicts that oil production will exceed demand this year by 3.7 millions barrels per day, which is more than 3%.
New Zealand to build LNG import facility for energy security
Simon Watts, New Zealand's Energy Minister, announced on Monday that the country has selected contractors to build an LNG import facility. The facility will bolster energy security and provide a reliable source of backup power, while also supporting economic growth. By the middle of the year, the government hopes to sign a deal for an LNG import facility to be built in Taranaki on New Zealand's North Island. The facility would be ready in 2027 to receive LNG. The model allows LNG to be imported only in large quantities and when required, thus limiting the exposure of global gas prices.