Latest Energy news,commentary and analysis
London, November 05, 2025, (Oilandgaspress) –––Iraq has cancelled the loading of three crude oil cargoes from Lukoil in November, two market sources said on Tuesday citing concerns over U.S. and UK sanctions on the Russian oil major. Iraq’s state firm Somo cancelled cargoes from Lukoil’s equity production at the West Qurna field, the sources said. The cargoes had been meant to load on November 11, 18 and 26, the sources said.. (Reuters) Read More
Eni and YPF, Argentina’s leading energy company, signed a non-binding agreement with XRG, part of the ADNOC Group, regarding the company’s potential involvement in the 12 MTPA liquefied natural gas (LNG) phase of the integrated upstream-midstream Argentina LNG (ARGLNG) project. ARGLNG is a large-scale, integrated upstream and midstream gas development project designed to develop the resources of the onshore “Vaca Muerta” field and serve international markets, exporting up to 30 million tonnes of LNG per year in various independent phases by 2030.
As established by the Final Technical Project Description signed on October 10 by Eni and YPF, the project involves gas production, processing, transportation, and liquefaction for export through two floating gas liquefaction units (FLNG) with a capacity of 6 MTPA (million tons per year, equivalent to approximately 9 billion cubic meters of gas per year) each, as well as the valorisation and export of associated liquids. Today’s agreement establishes a framework for cooperation between the parties, with the aim of signing a Joint Development Agreement (JDA) for ARGLNG. Eni and ADNOC are strategic partners, having previously collaborated on key projects in the United Arab Emirates and other geographies. Involvement as a potential partner in the project is expected to support the Final Investment Decision. Read More
More than half (55%) of the UK’s offshore energy firms have reduced their staff headcount in the past year, according to the latest Offshore Energies UK (OEUK) Pulse Survey. This and other key findings came from a survey of 97 companies and business units across the UK’s offshore energy sector. It was included in OEUK’s Budget Representation, submitted to the UK’s Treasury on behalf of industry to inform policy decisions ahead of the Chancellor’s statement on 26 November. OEUK’s proposal to reform the Energy Profits Levy in 2026 is a key part of this submission and is supported by its membership of over 420 companies spread across the UK. Under the current fiscal regime the oil and gas industry is losing 1,000 jobs a month – but these losses can be arrested with specific policy changes by the government. The outlook remains challenging, with nearly half (45%) of surveyed companies expecting to cut jobs further over the next 12 months if the current policy environment continues. The survey also reveals a growing trend of companies shifting focus overseas, with one respondent stating: “We’re now actively looking to reduce exposure to the UK energy industry and move operations overseas, reducing UK economic activity and tax take (personal and PAYE).” Read More
.OEUK is raising awareness of a new safety policy that has been developed by industry in response to concerns highlighted by the Maritime and Coastguard Agency (MCA) regarding the limitations of Search and Rescue winching systems. These systems, critical for the rescue of offshore personnel, are designed to safely lift individuals weighing under 124kg (over 19 stone).
The cross-industry policy, effective from November 2026, has been designed to address risks associated with emergency evacuations, rescue procedures, and life-saving equipment. It encompasses marine rescue, lifeboat loading, stretcher rescue, helicopter transport and confined spaces. During the transition phase, operators will continue to address these risks for all offshore personnel across every offshore installation.
The decision to implement a safe weight limit for offshore workers follows extensive review by industry experts over the past two and a half years, during which all possible alternatives to a weight restriction were thoroughly investigated. As no practical solutions were identified, the 124kg limit will be implemented from 1 November 2026. The increase in workforce weight reflects general population trends across the UK. Read More
Nigeria’s national oil company is set to increase oil production to 2 million barrels daily over the next two years, its executive vice president for upstream said. By 2030, NNPC will be pumping 3 million barrels daily, Udy Ntia also said, as quoted by the News Agency of Nigeria.
Speaking at ADIPEC in Abu Dhabi, Ntia said that “Nigeria’s upstream sector is evolving through a mix of collaboration, co-investments and smarter capital deployment, rather than competition. It is not just about producing more oil, it is about producing better oil: more efficient, cleaner, and more profitable. We have the capacity, and we are growing steadily while working together to reduce the strain of fossil fuels”.
Nigeria has been pumping more crude and drilling more new wells than it has in years, thanks to reforms under President Bola Tinubu that are finally leading to more cash flowing into the upstream industry. Daily output has climbed to between 1.7 million and 1.83 million barrels, while active rigs surged from 31 in January to 50 by July. Read More
NNPC Ltd Renews Commitment to Robust Downstream Infrastructural Development
The NNPC Ltd has reiterated its commitment to the development and revamping of downstream across the country to enhance collaboration and drive efficiency in the sector. Group Chief Executive Officer, Engr. Bayo Ojulari, stated this at the opening ceremony of the 2025 OTL Africa Downstream Energy Week in Lagos on Monday.
Speaking on the conference’s theme “Energy Sustainability: Beyond Boundaries & Competition”, Ojulari, who was represented by the Executive Vice President, Downstream, Dr. Mumuni Dagazau, said competition alone was no longer enough to drive efficiency, adding that operators must embrace collaboration, sustainability, and resilience as the new benchmarks for success.
“At NNPC, we are committed to deploying additional infrastructure across the oil and gas value chain while revamping our existing downstream infrastructure nationwide. These assets will be accessible to partners seeking to store and transport products, supporting strategic alliances and collaboration in the downstream sector,” the GCEO said.
He disclosed that a cocktail of factors ranging from strategic policies and fiscal incentives to transparent and well-structured regulatory frameworks exemplified by the PIA have engendered expansion and growth in the sector requiring new skill sets and further investments in new lines of business such as Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), and mini-LNG projects. Read More
TotalEnergies publishes the 7th edition of its “TotalEnergies Energy Outlook”, which presents an overview of the energy system and scenarios for its evolution up to 2050. Energy demand has continued to grow, accompanying rising living standards in China and emerging countries. CO2 emissions have also increased, but the growth in CO₂ emissions has slowed since 2015, illustrating the deepening “decoupling” between growth in energy demand and lower growth in emissions: the carbon intensity of the energy mix has improved. Even though the world is still in an “energy addition” phase, the transition is already underway in developed countries and is approaching in other countries, particularly China.
This transition is supported by the significant penetration of renewables in global electricity generation, which accounted for almost 80% of global electricity production growth between 2023 and 2024. It is also supported, in developed countries, by the gradual reduction in coal-fired electricity generation, which is being replaced by gas-fired electricity generation, particularly in the United States.
The differences in trajectories between the major regional blocks are becoming more pronounced, with common challenges around energy security and affordability. The United States has not only achieved energy independence thanks to shale oil and gas, but also became a net exporter of gas in 2017 and petroleum products in 2020. It has taken advantage of its abundant domestic gas production at competitive prices to reduce its CO2 emissions by gradually replacing coal-fired power plants with gas-fired power plants.
China continues to expand its dominance in low-carbon technologies through its integration across all of the value chains. It exports PV modules, batteries, and electric vehicles. This dynamic promotes innovation and lower costs. Although it continues to increase the installed capacity of coal-fired power plants, the use of more modern technologies and the massive penetration of renewable electricity sources are enabling it to gradually reduce the carbon intensity of its electricity mix and to envisage a peak in emissions in the coming years. Read More
The COP30 climate-change summit starts in Brazil on 10 November.
It marks a decade since the Paris Agreement was adopted by 195 parties in 2015. The Agreement is a global commitment to limit global warming to 1.5°c above pre-industrial levels, but the goal is becoming increasingly out of reach: according to the UN’s World Meteorological Organisation (WMO), 2024 was the warmest year on record and a UN update estimates that “there is a 70% chance that the 5-year average itself will exceed the 1.5 degree threshold.”
In a new article posted on the Cambridge Judge Business School website, Business School faculty with expertise in many fields related to sustainability take stock on what needs to be done by business and policymakers as the Paris Agreement enters its second decade.
Topics explored include:
Why leadership must move from promises to action
Embedding sustainability into business structures
The challenges for startups in balancing growth and sustainability
The path forward for responsible entrepreneurship
Designing cheaper and smarter systems for sustainability
Financing the climate recovery
The article on the Paris Agreement 10 years on is part of a broader series of articles on the Cambridge Judge Business School website, entitled: Shaping a sustainable future: education, insight and impact. Read More
Orrön Energy Report for the nine-month period ended 30 September 2025
Highlights
• Proportionate power generation amounted to 574 GWh for the reporting period, with additional 30 GWh of compensated volumes from ancillary services and availability warranties, bringing the total proportionate power generation, including these volumes, to 604 GWh. The Company now expects full-year 2025 proportionate power generation, including compensated volumes, to be between 850 and 900 GWh.
• Completed the sale of a 76 MW solar project in Germany for a total consideration of MEUR 4.0. The transaction closed in July 2025 with MEUR 2.0 paid on closing, leading to a net profit of MEUR 1.1 and with an outstanding MEUR 2.0 contingency payment subject to municipal and legislative approvals.
• Entered into financial hedges for approximately 200 GWh of the 2026 proportionate power generation volumes in the SE3 and SE4 price areas, at an average baseload price of EUR 58 per MWh.
Consolidated financials – 9 months
• Cash flows from operating activities amounted to MEUR -8.2.
Proportionate financials – 9 months
• Achieved electricity price amounted to EUR 35 per MWh, which, coupled with the sale of the German solar project, resulted in a proportionate EBITDA of MEUR -6.5.
• Proportionate net debt of MEUR 83, with significant liquidity headroom available through the MEUR 170 revolving credit facility.
Financial Summary
Orrön Energy owns renewables assets directly and through joint ventures and associated companies and is presenting proportionate financials in addition to the consolidated financial reporting under IFRS to show the net ownership and related results of these assets. The purpose of the proportionate reporting is to give an enhanced insight into the Company’s operational and financial results. Read More
Vestas – Interim Report, Third Quarter 2025, In the third quarter of 2025, Vestas generated revenue of EUR 5,339m – an increase of 3.1 percent compared to the year-earlier period. EBIT before special items amounted to EUR 416m, resulting in an EBIT margin before special items of 7.8 percent, compared to 4.5 percent in the third quarter of 2024.
Key highlights
Revenue of EUR 5.3bn
Increase of 3 percent YoY driven by higher deliveries despite negative foreign exchange developments.
EBIT margin of 7.8 percent
Earnings achieved through improved Onshore project execution and lower warranty cost; offset by costs of manufacturing ramp-up.
Order intake of 4.6 GW
Up 4 percent YoY driven by the USA and Germany, Onshore up more than 60 percent.
Manufacturing ramp-up driving costs and investments
Onshore and Offshore ramp-up is progressing, as we stay focused on delivering a busy fourth quarter.
Returning value to our shareholders
In line with our capital structure strategy, and solid liquidity position, a share buyback of EUR 150m will be initiated.
2025 Outlook
Outlook narrowed, reflecting lower Service EBIT and stronger Onshore execution . Read More
The Board of Directors of Vestas Wind Systems A/S has decided to initiate a share buy-back programme of up to DKK 1,120m (approx. EUR 150m).
The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors by the Annual General Meeting in April 2025, which entitled Vestas to acquire treasury shares at a nominal value not exceeding 10 percent of the share capital at the time of the authorisation. The share buy-back programme will be executed in accordance with Regulation No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the “Safe Harbour Regulation”).
Purpose
The purpose of the share buy-back programme is to adjust Vestas’ capital structure.
Time frame
The share buy-back programme will run from 6 November 2025 to 17 December 2025, both days included.
Terms
Vestas has appointed Danske Bank as Lead Manager for the share buy-back programme. Danske Bank will make its own trading decisions independently of and without influence or involvement from Vestas. . Read More
Sharjah National Oil Corporation (SNOC) and Siemens Energy will collaborate with Decahydron, a natural hydrogen and carbon mineralisation company, to assess the feasibility of utilising natural hydrogen in power generation or other industrial uses in the northern Emirates.
The collaboration expands ongoing technical studies by Decahydron and SNOC on an existing exploration well in Sharjah to assess the Emirate’s natural hydrogen potential. Early results are encouraging, with drilling planned for 2026 in order to provide detailed resource data and measured flow rates.
The project will examine the use of natural hydrogen directly for power generation or other industrial uses, avoiding the costs of storage and transport while creating a new low-carbon energy source for the UAE which could be used for energy-intensive facilities such as data centres.
Decahydron is advancing a natural hydrogen and CO₂ mineralisation project in Sharjah and is working to validate the scale of the resource.
Siemens Energy will leverage its extensive expertise in energy technology to support the feasibility work, drawing on prior experience with hydrogen solutions. The company will also provide analytical insights to help assess the commercial potential and contribute to shaping the strategic direction of the project as it progresses toward potential implementation. Read More .
Decahydron Limited, an Irish headquartered, UAE operating, energy company pioneering natural (“white”) hydrogen exploration and subsurface CO₂ mineralisation, announced at ADIPEC 2025 that it has received a strategic equity investment from Weatherford International plc (NASDAQ: WFRD), a global leader in energy services and subsurface engineering.
The partnership marks a pivotal step in fast-tracking Decahydron’s transition from exploration success to commercial deployment. Together, the companies aim to accelerate the appraisal and development phases of natural hydrogen production and CO₂ mineralisation across the Northern Emirates and the wider Middle East and North Africa region, positioning the UAE at the forefront of a new carbon-negative energy frontier.
Decahydron has recently successfully completed a comprehensive exploration programme, integrating geophysical data with subsurface results from a 6,000-foot exploration well confirming the presence of natural hydrogen within ultramafic formations. The company is now preparing to advance into the appraisal phase designed to demonstrate commercial production potential.
“Weatherford’s investment is a strong endorsement of our vision to unlock the hydrogen potential of ultramafic rock formations,” said Arnaud Lager, Chief Executive Officer of Decahydron. “This partnership will accelerate our appraisal phase and chart a direct path to commercial production, bringing the world closer to abundant, carbon-negative hydrogen.” Read More
Decahydron has formalised a research partnership with the Irish Centre for Research in Applied Geosciences (iCRAG) co-funded by Research Ireland, the Dublin Institute for Advanced Studies (DIAS), and the University of Edinburgh (UoE).
This collaboration supports our ongoing efforts to develop scalable technologies for permanent carbon sequestration and geological hydrogen generation. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $60.55 | Up |
| Crude Oil (Brent) | USD/bbl | $64.45 | Up |
| Bonny Light 03/11/25 CBN | USD/bbl | $66.68 | — |
| Dubai | USD/bbl | $65.00 | — |
| Natural Gas | USD/MMBtu | $4.23 | Up |
| Murban | USD/bbl | $66.74 | Up |
| OPEC basket 04/11/25OPEC | USD/bbl | $65.43 | Down |
| At press time November 05, 2025 . |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Victor Cole , victor@oilandgaspress
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