26 Jan Energy newstrack, commentary and analysis | Natural gas @ $6.224/MMBtu
(Oilandgaspress) Shell Plc reportedly is in discussions with partners over the potential development of the Bonga South West oil field offshore Nigeria, a project that could involve around $20 billion of investment if it advances to a final investment decision. Following engagements with Nigeria’s President Bola Tinubu, Chief Executive Wael Sawan said the company is assessing the project as part of a broader review of upstream opportunities in the country. Wael Sawan, the Chief Executive Officer of Shell Plc, has commended the administration of President Bola Tinubu for implementing strategic reforms aimed at enhancing Nigeria’s investment climate.
According to the News Agency of Nigeria (NAN), the discussion focused on the impact of recent executive orders and legislative adjustments designed to streamline operations and reduce bottlenecks in the upstream and midstream sectors. Sawan noted that the clarity provided by these reforms allows International Oil Companies (IOCs) to plan long-term investments with greater certainty. Related News
The annual ‘European Electricity Review’ report published by the British think tank Ember: confirms wind and solar energy are now generating more electricity than fossil fuels in the European Union. According to this analysis, in 2025, Wind and solar reached 30% of EU electricity, higher than fossil power (29%) for the first time on record, and up from 20% just five years prior. By 2025 wind and solar generated more power than all fossil sources in 14 of the 27 EU countries.
The stakes of the EU continuing to make progress on energy transition remain starkly clear. For the EU, risks of energy blackmail from fossil fuel exporters loomed large in 2025. Investing in homegrown renewables is a key strategy to lower that risk, as geopolitics continue to destabilise.
The EU agreed on legislation to ban imports of Russian gas by the end of 2027 in December 2025. However, new fossil dependencies have emerged with a rise in imported US LNG. Heavy reliance on a single supplier threatens EU security and weakens bargaining power in geopolitical negotiations and trade disputes. . Related News
India is forging a better path to the electrotech future of energy. Cheap solar and batteries are enabling India to develop without the long fossil detour taken by the West and China.
When we compare India today with China at equivalent income levels ($11,000 PPP in 2012), several observations emerge:
Rapid solar deployment. In 2012, China had negligible solar generation. In 2025, solar accounted for 9% of India’s electricity generation, up from half a percent a decade earlier. India has a powerful new tool to scale cheap power, and it is using it to spectacular effect.
Much lower coal use. Indian per capita coal generation, at 1 MWh, is roughly 40% of China’s level in 2012. Coal demand is approaching its peak and is very unlikely to follow China’s subsequent ramp-up to around 4 MWh per person.
Rapid growth in EVs. In 2012, China had almost no electric vehicles on the road. By mid-2025, EVs accounted for around 5% of car sales in India and the country is the global leader in electric three-wheeler sales. Much lower oil demand for transport. India’s per capita road oil demand, at 96 litres, is about half of China’s level in 2012 and is close to peaking. India is not going to rescue the oil industry.
A similar rapid electrification pathway. India’s electrification rate is nearly 20%, comparable to China’s level in 2012, and is growing relentlessly by around five percentage points per decade…Related News
UK government’s approach to the North Sea seen as ‘puzzling’ and ‘reckless’. Russell Borthwick, chief executive of the Aberdeen & Grampian Chamber of Commerce and a prominent voice in the industry, said the windfall tax ‘has imposed an eye-watering burden on UK producers’. And he said the new ‘oil and gas price mechanism’ designed the replace it, which will see headline tax rates fall from the current 78 per cent to the prior level of 40 per cent, but not until 2030, must be introduced ‘immediately’.
His comments were echoed by Offshore Energies UK, which said the new regime ‘must be brought forward to boost homegrown energy production instead of creating a climate where we rely on importing resources we have here’. The so-called energy profits levy was introduced by the Tories in 2022, but has since been raised to 38pc by Labour – taking the headline tax rate on oil and gas profits to 78pc – and extended to March 2030. The US President said UK government policy was making it ‘impossible’ for companies to operate there and branded the drive to net zero the ‘green new scam’. Related News
The UK government has reportedly selected seven companies to put forward designs for “futuristic drones” that will accompany British army helicopters into battle. The programme – known as Project NYX – will see ministers work alongside defence firms to advance the development of Uncrewed Air Systems (UAS) to operate alongside Apache attack helicopters.. The invitation to tender follows a pre-qualification phase that concluded late in 2025. The defence firms selected are: Anduril, BAE Systems, Leonardo, Lockheed Martin UK, Syos, Tekever and Thales.Related News
European Union countries on Monday gave their final approval to the bloc’s plan to ban Russian gas imports by late 2027, allowing it to pass into law. The policy makes legally-binding the EU’s vow to cut ties with its former top gas supplier, nearly four years after Russia’s 2022 full-scale invasion of Ukraine.
Ministers from EU countries approved the law at a meeting in Brussels on Monday, although Slovakia and Hungary voted against. Under the agreement, the EU will halt Russian liquefied natural gas imports by the end of 2026 and pipeline gas by 30 September 2027. Related News
INEOS Olefins & Polymers Europe announces the launch of a new Recycl-IN hybrid polymer grade containing 70% recycled material, designed to boost the sustainability of contact-sensitive cosmetics packaging without brands needing to compromise on quality or performance.
Recycl-IN hybrid polymers deliver the strength, aesthetics, and processing ease customers expect – while significantly increasing recycled content and reducing CO2 emissions. This is achieved by combining high levels of mechanically recycled plastic with advanced ‘booster’ polymers. This launch marks the second Recycl-IN hybrid grade that INEOS have developed for cosmetics packaging, building on the success of rPP2030C. INEOS offers a range of Recycl-IN hybrid ready-made polyolefin compounds for rigid and flexible applications in sectors such as automotive, construction, drainage systems, packaging, sports stadiums, storage and textiles. Read More
New research published by EnergiRaven research finds that waste heat from the UK’s rapidly expanding data centre sector could heat 3.5-6.3 million homes by 2035 – enough to make a serious dent in energy bills and fuel poverty – The UK risks missing out on a major source of low-cost home heating if it fails to invest in the Heat Highways needed to capture waste heat from the next generation of data centres. Our analysis shows that these facilities could supply enough heat for at least 3.5 million homes by 2035. With many existing or proposed data centres situated close to planned new towns, or existing heat poverty hotspots – and in many cases, both – we warn that without action, the UK could end up building a vast new AI infrastructure while leaving the free heat it produces to go to waste, rather than using it to reduce bills and reinforce energy resilience.
EnergiRaven research, carried out in partnership with leading Danish energy and sustainability consultancy Viegand Maagøe, examines how this pattern plays out across the UK, and how data centres could provide enough waste heat for between 3.5 and 6.3 million homes, depending on data centre efficiency and design.
Using waste heat to warm homes and other buildings is already common practice in northern Europe, particularly in Nordic countries, where sources of waste heat – including data centres, power plants, incinerators and sewage plants – are required to connect to heat networks. These networks store heat as hot water and supply it directly to homes via heat interface units (HIUs), replacing gas boilers. Related News
SLB has completed the acquisition of RESMAN Energy Technology, a leading provider of wireless reservoir surveillance and tracer solutions. The addition of RESMAN’s specialized tracer technology further strengthens SLB’s industry leading portfolio of advanced production and recovery solutions.
The acquisition enables SLB to deliver faster and more precise production and reservoir insights by integrating RESMAN’s differentiated wireless tracer capabilities with SLB’s established expertise in sampling, analysis, and digital workflows. Operators will benefit from improved operational efficiency, enhanced well performance monitoring, and improved recovery. Related News
Galp has completed the installation of ten 10MW electrolysis modules which, together, constitute the new green hydrogen production unit under construction at the Sines Refinery, which will be the largest in Europe when it comes online, expected in the second half of this year.
With a capacity of 100MW, this unit is expected to produce up to 15,000 tons of renewable hydrogen per year, replacing 20% of the grey hydrogen currently used in the Refinery’s operations. This replacement will reduce greenhouse gas emissions by approximately 110,000 tons per year (Scope 1 and 2, CO2 e ). The GenEco™ modules, developed by the US company Plug Power Inc., are manufactured in the United Arab Emirates and transported by sea to Sines. The assembly of each 42-ton module is carried out with the support of two cranes and a team of 12 people. Related News
OGP Opinion: We really do live in a very cruel and unforgiving world based solely on greed. The price for natural gas has gone up by .931% in the last day. This coincides with the extreme weather being experienced in North America with huge snowfalls and exceptionally low temperatures with people stuck indoors and flights cancelled. So basically as demand to heat homes increase so does the price of gas meaning some people will be left to freeze to death as some people will not be able to afford to pay for gas. We talk about energy revolution. So how does renewable energy help in this circumstance?
Oil Prices Today
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $61.17.36 | Up |
| Crude Oil (Brent) | USD/bbl | $66.02 | Up |
| Bonny Light 23/01/26 CBN | USD/bbl | $67.61 | Down |
| Dubai | USD/bbl | $61.41 | Down |
| Natural Gas | USD/MMBtu | $6.21 | Up |
| Murban | USD/bbl | $65.69 | Down |
| OPEC basket 23/01/26 OPEC | USD/bbl | $63.92 | Up |
| At press time January 26, 2026 . |
CNN, T-Mobile, Le Figaro an other outles reports that Maduro’s successor, former Venezuelan vice-president , now interim leader , Delcy Rodríguez told oil sector workers on Sunday, that she has “had enough” of Washington issuing orders to Venezuelan politicians.
Speaking in Puerto La Cruz, Rodríguez said Venezuelans should settle their disputes through domestic politics. The remarks were broadcast on state television and reflect her latest effort to assert autonomy over Caracas’s affairs. Her comments come as U.S. pressure has ramped up since a military operation on January 3 led to Maduro and his wife being taken to New York to face criminal charges..Related News
China will open up futures markets for 14 commodities, including lithium carbonate and nickel, to foreign investors, Bloomberg reported today, citing a statement by the China Securities Regulatory Commission. Read More
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
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