13 Mar As Reported Oil Price, news and commentary 13/03/26: WTI Crude $96.84/bbl, Brent $101.05/bbl, Bonny Light $103.69/bbl, OPEC $120.86/bbl,
(Oilandgaspress) European Union leaders called out President Donald Trump’s decision to lift sanctions on Russian oil as fueling the war machine against Ukraine, as Washington tries to ease energy prices after a second week of conflict in the Middle East.
US Treasury Secretary Scott Bessent announced on Thursday night a temporary permit allowing countries to purchase Russian oil currently stranded at sea. The move is important as higher oil prices as a result of the war means Russia is able to cash in. Related News
Refiners can now legally buy at least 19 million barrels of Russian crude held on 25 tankers in Asia under the one-month U.S. waiver allowing sales as Middle Eastern supply is choked. Some 30 tankers carrying Russian crude oil and petroleum products are in Asia currently, according to vessel-tracking data compiled by Bloomberg. Read More
Oil prices up again despite the U.S. trying to ease supply concerns by issuing a 30-day license for countries to buy Russian oil and petroleum products stranded at sea. Iran’s new supreme leader Mojtaba Khamenei said Iran would fight on and keep the Strait of Hormuz shut as leverage against the United States and Israel.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $96.84 | Up |
| Crude Oil (Brent) | USD/bbl | $101.05 | Down |
| Bonny Light 13/03/26 CBN | USD/bbl | $103.69 | Up |
| Dubai | USD/bbl | $123.06 | Up |
| Natural Gas | USD/MMBtu | $3.12 | Down |
| Murban | USD/bbl | $112.70 | Up |
| OPEC basket 12/03/26 OPEC | USD/bbl | $120.86 | Up |
| At press time March 13, 2026 |
Iraq’s State Oil Marketing Organization (SOMO) has expressed strong concern following attacks on two oil tankers operating within Iraqi territorial waters.Legal services directory
According to SOMO, the tanker SAFESEA VISHNU, flying the flag of the Marshall Islands and chartered by an Iraqi contracting company, and the tanker ZEFYROS, flying the Maltese flag and carrying condensate cargo from Basra Gas Company (BGC), were targeted while operating in the side-by-side loading area in Iraqi waters.
The tanker ZEFYROS had been preparing to enter Khor Al-Zubair port on 12th March 2026 to load an additional shipment estimated at 30,000 tonnes, after completing a side-by-side transfer operation and discharging a previous cargo.. Related News
Saab is developing its naval offering and consolidating its naval operations into one business area. In doing so, Saab increases the value it delivers to customers by creating synergies, improving efficiency and strengthening innovation. The new business area will be named Naval.
The organisational change takes effect from 1 April 2026. This means that the operations of business area Kockums will be merged with the majority of the Naval Combat Systems unit, which currently forms part of business area Surveillance. The new business area Naval will be led by Mats Wicksell who is currently head of business area Kockums.
“We are consolidating and developing Saab’s naval offer to deliver greater value to our customers. By driving higher efficiency and accelerating innovation we are further strengthening our market position,” says Micael Johansson, President and CEO of Saab.
Saab’s naval operations are currently spread across several organisational units. Business area Kockums develops and produces surface vessels, submarines and autonomous underwater vehicles. Business unit Naval Combat Systems develops and produces combat management systems, fire control systems and secure communications solutions, as well as providing integration of these. The new business area Naval now brings these operations together under one organisation. .Related News
.Air freight rates have risen by as much as 70% on some routes since the start of the U.S.-Israeli war on Iran, data shows, as the conflict limits flights, blocks some ocean shipments and pushes up jet fuel costs.
Rates on routes between South Asia and Europe have been the most affected by Middle Eastern airspace closures and security issues, industry experts said, after the conflict has stranded more than 100 container ships in the area around the critical Strait of Hormuz oil export corridor.
Products like inexpensive generic medicines from India destined for the European Union, Africa and some Arab countries like Saudi Arabia and the United Arab Emirates typically move on container ships through the strait, Related News
Baker Hughes Rig Count: International +33 to 1,112,U.S. +2 to 553 Canada -8 to 197
U.S. Rig Count is up 2 from last week to 553 with oil rigs up 1 to 412, gas rigs up 1 to 133 and miscellaneous rigs unchanged at 8.
Canada Rig Count is down 8 from last week to 197 with oil rigs down 8 to 131, gas rigs unchanged at 65 and miscellaneous unchanged at 1.
International Rig Count is up 33 from last month to 1,112 with land rigs up 25 to 873, offshore up 8 to 239.
International Rig Count is up 15 rigs from last year’s count of 1,097, with land rigs up 22 offshore rigs down 7.
| Region | Period | Rig Count | Change |
| U.S.A | 13 February 2026 | 553 | +2 |
| Canada | 13 February 2026 | 197 | -8 |
| International | February 2026 | 1,112 | +33 |
| Baker Hughes |
Iberdrola registers bid to acquire 100% of its Brazilian subsidiary Neoenergia
The documentation has been officially submitted to the Brazilian Securities and Exchange Commission (CVM) and Novo Mercado (Brazilian Stock Exchange – B3). The purchase price is 32.5 Brazilian reais per share, adjusted for official interest since that date and dividends declared by Neoenergia.
Iberdrola has officially published the documentation (‘Edital’) for the takeover bid for all Neoenergia shares not controlled by the Group, according to information submitted today to the securities commissions.
Iberdrola is offering the same price paid in the acquisition of the stake held by Caixa de Previdência dos Funcionários do Banco do Brasil (“PREVI”), corresponding to 30.29% of the capital -32.5 Brazilian reais per share- adjusted by the official Brazilian interest rate, known as SELIC, and reduced by the extraordinary dividend declared by Neoenergia on 31 December 2025.
With this transaction, Iberdrola reaffirms its commitment to growth in electricity networks and to Brazil: Neoenergia, which focuses 90% of its business on networks, supplies electricity to around 40 million Brazilians through five distributors in the states of Bahia, Rio Grande do Norte, Pernambuco, Sao Paulo, Mato Grosso do Sul and Brasilia, and 18 transmission lines, making it the country’s leading distribution group in terms of number of customers. Related News
The partnership between ScottishPower Energy Networks –the distribution arm of ScottishPower, a subsidiary of the Iberdrola Group in the United Kingdom– and the University of Glasgow has been renewed to establish a sector-leading Cyber Defence Laboratory.
This strategic partnership will fund doctoral and postgraduate programmes and help develop the digital, data analytics, cybersecurity, and AI capabilities required to deliver a resilient, net-zero electricity system.
The collaboration aims to strengthen the UK electricity grid, improve outcomes for customers, and support the broader mission of decarbonising the UK. Related News
Assala Energy announced that the Magoga-A exploration well, located in the Mutamba Iroru Licence II in Gabon, and subsequent sidetrack into the Atora Licence, has encountered hydrocarbons in the targeted reservoir interval.
Preliminary evaluation of data acquired during drilling indicates the presence of 8 meters of hydrocarbon within the Gamba Sandstone formation. Further work will now be undertaken to integrate and interpret the well results and assess reservoir properties, fluid characteristics, volumetric potential and possible next steps, including any additional appraisal activity that may be appropriate. Related News
All six crew members aboard a U.S. KC-135 refueling aircraft that went down in western Iraq are now confirmed deceased. The aircraft was lost while flying over friendly airspace March 12 during Operation Epic Fury. The circumstances of the incident are under investigation. However, the loss of the aircraft was not due to hostile fire or friendly fire. The identities of the service members are being withheld until 24 hours after next of kin have been notified. Related News
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