26 Mar As Reported Energy Price, News and commentary 26/03/26: OPEC $116.96/bbl
(Oilandgaspress) EIA is launching three voluntary pilot field studies to evaluate energy consumption in data centers, with web-based pilot surveys in Texas and Washington state as well as in-person interviews in Northern Virginia and Washington, DC. EIA identified 196 companies operating data centers across Texas, Washington state, and the Northern Virginia-DC region. Each company will be asked to report on the energy use of at least one data center in the targeted region. The questionnaire will cover energy sources, electricity consumption, site characteristics, server metrics, and cooling systems.
“A tremendous amount of excellent work goes into our retrospective consumption surveys, but they were conceived decades ago. Going forward, that excellent work will be geared toward faster cycles and finer detail,” EIA Administrator Tristan Abbey said. Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $92.93 | Up |
| Crude Oil (Brent) | USD/bbl | $105.70 | Up |
| Bonny Light 25/03/26 CBN | USD/bbl | $112.18 | Down |
| Dubai | USD/bbl | $130.93 | Down |
| Natural Gas | USD/MMBtu | $2.93 | Up |
| Murban | USD/bbl | $109.30 | Up |
| OPEC basket 25/03/26 OPEC | USD/bbl | $116.96 | Down |
| At press time March 26, 2026 |
As Waymo and Tesla have the financial backing to absorb losses far longer than traditional taxi operators. As the UK government has been actively encouraging the autonomous vehicles sector, estimating it could add £42bn to the economy and create up to 40,000 jobs by 2035 and Pilot schemes are already underway, with vehicles mapping London streets ahead of commercial launches. The arrival of driverless fleets risks accelerating that disruption, particularly if pricing becomes the primary competitive lever. London’s taxi and private hire ecosystem, from black cabs to the likes of Addison Lee, has already been reshaped once by ride-hailing platforms. There are also concerns that cheaper, more convenient robotaxis could draw passengers away from buses, cycling, and walking, potentially increasing traffic and undermining environmental goals.
At the same time, autonomous vehicles could improve safety by reducing human error and increasing efficiency by optimising routes. Uber has struck partnerships with multiple robotaxi developers rather than backing a single provider, effectively positioning itself as a marketplace for an autonomous fleet, rather than a direct operator. Related News
Italy’s prime minister, Giorgia Meloni, is visiting Algeria on Wednesday as Rome scrambles to replace gas supplies disrupted by Qatar, which accounts for 30% of the country’s annual gas needs. A study published on Tuesday by the environmental think tank ECCO posits that Italy could replace Qatari LNG with renewables and energy efficiency within a year.
The installation of 10 gigawatts of new renewable capacity per year would reduce gas consumption by 2.5 billion cubic metres, equivalent to 40% of Qatar’s imports, ECCO argues. Since the outbreak of the Middle East war on February 28, the number of diverted LNG tankers has continued to grow, with the last Qatari cargoes expected to arrive in the UK and Italy by 27 March, according to data from the intelligence firm Kpler. Related News
EnQuest PLC announced its wholly-owned affiliate, EnQuest Petroleum Production Malaysia Ltd (‘EnQuest’) has received a Letter of Award (‘LOA’) as a Partner in the Cendramas Production Sharing Contract (‘PSC’) in partnership with Medco Asia Pacific Limited (‘Medco’) and DIALOG Resources Sdn Bhd (‘DIALOG’) by Petroliam Nasional Berhad (PETRONAS) (‘PETRONAS’) through Malaysia Petroleum Management (MPM).
The terms of the LOA, subject to the finalisation and signing of the Joint Operating Agreement and the Cendramas PSC, are effective from 23 September 2026. Related News
EnQuest PLC Results for the year ended 31 December 2025
EnQuest Revenue and other income totalled $1,118.3 million (2024: $1,180.7 million), with adjusted EBITDA of $503.8 million (2024: $673.9 million). Both figures reflect lower oil revenues, with Brent falling 15% year-on-year. Cost discipline and active hedging held operating costs flat, despite a 10% weakening of the US Dollar.
Net $238.9 million gain on settlement of the Magnus contingent consideration simplifies EnQuest’s balance sheet.
Reported profit after tax of $1.6 million (2024: $93.8 million) includes the impact of the two-year extension of EPL. Stripping out this non-cash item, the profit after tax would have been $125.5 million.
Capital investment $179.2 million (2024: $252.9 million), inclusive of c.$40 million in Seligi 1b growth capex. Decommissioning expenditure $56.8 million (2024: $60.5 million), focused on well plugging and abandonment and Heather topsides removal.
The Group declared its maiden dividend of c.$15 million, which was paid in June 2025.. EnQuest net debt of $433.9 million (31 December 2024: $385.8 million) followed payment in H2 2025 of UK EPL tax of $104.1 million; $22.7 million on completion of the Vietnam acquisition and RBL refinancing fees totaling $17.8 million. Related News
Adura Energy Limited (Adura) has signed a new seven-year, senior-secured Reserve Based Lending (‘RBL’) facility. This marks Adura’s inaugural syndicated bank facility since it was formed in December 2025.
The RBL facility was heavily oversubscribed, underscoring strong confidence in Adura’s portfolio and long‑term outlook. The Adura syndicate is made up of 18 leading international banks, all of which represent new banking relationships for Adura. Related News
Hitachi Industrial Equipment Systems Co., Ltd. has launched “GREEN SCREW OIL”, a plantbased lubricant for oil-flooded screw air compressors. Because the plant-derived raw materials absorb CO₂ during growth, the new lubricant cuts manufacturing-stage CO₂ emissions by approximately 90%. Even including emissions at disposal, its CO2 emissions across the entire lifecycle can be reduced by approximately 40%(estimated value) compared to conventional synthetic oils. Related News
Hitachi, Ltd. announced the launch of HMAX Energy, an AI-powered suite of services and solutions designed to safeguard critical energy infrastructure while enabling operational efficiency. Delivered through trusted customer partnerships, HMAX Energy optimizes planning, prediction, and prevention – strengthening energy security and resilience.
The electrification of many industries and the rise of new power-intensive sectors are accelerating the need to expand and modernize the power grid – the one trillion-dollar investment of our time1. In most countries, much of the grid infrastructure has already exceeded its expected lifetime and was not designed to meet today’s demands2. The sector also faces a major constraint: supply chains for grid equipment are under severe pressure. As a result, increasing the availability and extending the lifetime of existing assets has never been more critical, making partnerships more important than ever. Related News
John Crane, part of Smiths Group plc, has enabled a 99.8% reduction in water consumption at a leading LNG export facility in Louisiana, US, through the deployment of its advanced Type SB2 USP dual-cartridge seal. The project demonstrates the significant sustainability gains achievable through modern mechanical seal design and resource-efficient engineering.
By supplying the Type SB2 USP seals to support high-temperature hot well pump operations, John Crane enabled the facility to reduce daily water usage from approximately 2,000 gallons to just 3–4 gallons. This dramatic reduction delivers both immediate cost savings and long-term efficiency benefits for the operator.
Previously, the pumps relied on conventional mechanical seals with an API Plan 32 demineralised water flush, which required a continuous supply of treated water to cool and lubricate the seal faces. This approach was effective but water-intensive, driving up operational costs, especially at the high process temperatures involved. In contrast, the Type SB2 USP seals are engineered to operate reliably between 180°C and 200°C with minimal water use.. Related News
On 25 March, Saab, Embraer and the Brazilian Air Force (FAB) officially presented the first supersonic fighter aircraft produced in Brazil during a ceremony held at Embraer’s industrial complex in Gavião Peixoto, São Paulo State. Embraer’s industrial site in Gavião Peixoto produces Gripen E fighter jets using a Brazilian and international supply chain, including aerostructures manufactured at Saab’s facility in São Bernardo do Campo. Another 14 aircraft under the current contract with the Brazilian Air Force will follow this same production model.
Before final delivery to the customer, the aircraft will undergo functional testing and production flight tests. After this stage, the fighter will join the other ten units already delivered to the First Defense Group (1st GDA) at the Anápolis Air Force Base.
Gripen E is the world’s most modern fighter aircraft, designed for multi-mission roles such as air defence, reconnaissance and strike. Gripen E integrates modern avionics, sensors, weapons and mission systems to improve performance in complex environments. Its network-centric architecture and sensor-fusion capabilities enable information sharing across a tactical formation, supporting coordinated decision making and enhancing situational awareness and threat response. Related News
On March 25, 2026, Odfjell Board of Directors decided, in accordance with the terms of such incentive program, to pay out a cash amount to members of the Executive Management which in turn (after tax) has been used to acquire a total of 34,323 Class A-shares in the Company on March 25, 2026. The purchase price paid for the shares is NOK 119.20, corresponding to the volume -weighted average share price on the Oslo Stock Exchange in the last 10 trading days prior to March 25, 2026. To facilitate the above-mentioned acquisition of shares, the Company has on March 25, 2026, sold 34,323 Class A-shares (treasury shares) to the eligible participants at a purchase price of NOK 119.20 per share. The acquired shares are restricted with a holding period of three years with certain customary exemptions. The following primary insiders in the Company have acquired shares in connection with the above-mentioned incentive plan, and have, following this, the following number of shares in the Company: Read More
In accordance with ASX Listing Rule 3.16.1, Po Valley Energy Limited advises that Ms Lucia McLean has been appointed as Company Secretary effective today, 26 March 2026. Ms McLean has over 20 years’ experience in providing secretarial, accounting and governance advisory services and is a Member of the Chartered Accountants Australia & New Zealand.
Ms McLeans’s appointment follows the retirement of Company Secretary, Mr Kevin Hart, effective today, 26 March 2026. The Board of PO Valley thanks Mr Hart for his contribution and wishes him well in his retirement Related News
In advance of announcing its full year results for the year to 31 December 2025 on 26 March 2026, Capricorn provides the following update on operations and trading performance, together with 2026 guidance. This information is unaudited and subject to further review. Financial performance for the year ended 31 December 2025:
Revenues of $119m; provisional entitlement sales volumes of 3.5mmboe (40% liquids), production costs of $39m ($5.4/boe) with an average oil price of $68.9/bbl and gas price of $3.0/mscf
Capex of $77m
Group net cash of $103m; comprising $133m cash and $30m debt
Net cash inflows of $81m from Egypt operations, post capex
Gross cash receipts in Egypt of $217m
Receivables of $86m before expected credit loss adjustments
Gross G&A of $24m, excluding non-cash charges, and inclusive of legacy and non-recurring project spend of $2m
All figures are subject to ongoing review and displayed in US dollars.
Operational update
FY 2025 WI Production of 20,024 boepd (40% liquids)
Strong production performance driven by development drilling at Badr El Din (BED), and good response to a waterflood programme in the BED field area
In 2025 exploration drilling occurred on SEH, West El Fayoum (WEF) and NUMB concessions. The results supported the continuation of NUMB and SEH exploration activity and the exit from WEF Related News
Hydro Energi AS has signed a long-term power purchase agreement (PPA) with Swiss energy provider Alpiq, securing an annual supply of 219 GWh in the period from 2031 to 2038. The contract will be delivered in Norwegian electricity price area NO3 and will provide an aggregated supply of 1.75 TWh during the contract period.
Based on renewable energy, Hydro can produce aluminium in Norway with a carbon footprint about 75 percent less than the global average. Renewable energy is also key for Hydro to continue to modernize aluminium production and succeed with its technology roadmap towards zero emissions by 2050.
Hydro is pursuing multiple sourcing options to meet future renewable power needs, combining long-term contracts with partners such as Alpiq with investments in new renewable projects and upgrades to its own power assets. Related News
Ships attemping passage through the Strait of Hormuz are increasingly having to coordinate with Iranian authorities, as rising risks and surging insurance costs change how traffic moves through the waterway.
Access is no longer straightforward for many vessels. War risk insurance premiums have surged since the escalation began on February 28, with rates rising several-fold in a matter of weeks. Read More
(Oilandgaspress) The Baker Hughes International rig count is a monthly census of “active” drilling rigs exploring for or developing oil or natural gas outside North America (US & Canada).
The Baker Hughes rig count defines active rigs as rigs that are actively conducting
drilling operations on a given well For a rig to be active the below conditions must be met: • The rig must be drilling (turning to the right) • Drilling needs to have occurred for a majority of the week (4 days out of 7) • The active rig must be working on a well which is a significant consumer of
oilfield products and services
| Region | Period | Rig Count | Change |
| Africa, Land/Offshore | February 2026 | 103 | +3 |
| Middle East, Land/Offshore | February 2026 | 538 | +20 |
| Asia-Pacific, Land/Offshore | February 2026 | 207 | +1 |
| Latin America, Land/Offshore | February 2026 | 138 | +2 |
| Europe Land/Offshore | February 2026 | 126 | +7 |
Baker Hughes |
A major oil refinery and natural gas port in Russia’s Leningrad Oblast came under fire during an overnight drone attack on March 26, according to Russian officials and social media channels.
The reported strikes come one night after Ukraine launched a mass overnight attack on March 25, hitting an energy terminal in the Baltic Sea port of Ust-Luga and a Russian military icebreaker in the port of Vyborg.
The port of Ust-Luga was in flames again after another attack the following night, according to footage by locals posted to social media. For the second night in a row, drone attacks in the region temporarily suspended flights at Pulkovo Airport in St. Petersburg.
Leningrad Oblast Governor Aleksandr Drozdenko also reported a drone attack in Kirishi, where one of Russia’s largest oil refineries is located. Over 20 Ukrainian drones were shot down in the area, Drozdenko claimed. Read More
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