20 May As Reported Energy Price, news updates and expert commentary 20/05/26, U.S. Rig Count is up 3
(Oilandgaspress) U.S. lawmakers are pushing a new bipartisan road-funding proposal that could place fresh costs on electric-vehicle owners. Under the BUILD America 250 Act, EV drivers would pay a $130 annual fee, while plug-in hybrid owners would pay $35. Starting in 2029, those fees would increase by $5 per year, eventually reaching $150 for EVs and $50 for plug-in hybrids. The proposed fees would flow into the Highway Trust Fund, which is mainly supported by federal gasoline and diesel taxes. Rep. Sam Graves introduced the bill with Rep. Rick Larsen, arguing that EV owners should begin paying what he described as their fair share for road use. Graves also chairs the House Transportation and Infrastructure Committee, which is expected to take up the bill on Thursday. The Committee for a Responsible Federal Budget estimated that the fees would raise about $30 billion over a decade, making the measure potentially meaningful in the broader infrastructure-funding debate.
The legislation also reaches beyond consumer EV fees. It would direct the Department of Transportation to create a committee focused on safety standards for autonomous commercial vehicles and would require a human operator in autonomous school buses. Related News
| Oil and Gas Blends | Units | Oil Price | Notes |
| Crude Oil (WTI) Oilprice | US$/bbl | $102.60 | |
| Crude Oil (Brent) | US$/bbl | $109.50 | |
| Bonny Light 19/05/26 CBN | US$/bbl | $118.86 | |
| Dubai | US$/bbl | $105.34 | |
| Natural Gas | US$/MMBtu | $3.08 | |
| Murban | US$/bbl | $106.30 | |
| OPEC basket 19/05/26 OPEC | US$/bbl | $118.13 | |
| At press time May 20, 2026 |
The U.S. Treasury Department has sanctioned 19 vessels and a network of shipping, financial and trading entities tied to Iranian oil, LPG and petrochemical exports, marking a significant escalation in Washington’s campaign to restrict Tehran’s energy revenues amid ongoing conflict in the Middle East.
The action, announced Tuesday by the Treasury Department’s Office of Foreign Assets Control (OFAC), targets what officials described as Iran’s “shadow banking system” and “shadow fleet” used to move billions of dollars in oil and petrochemical sales outside traditional financial channels.
Treasury Secretary Scott Bessent said the sanctions are part of the administration’s broader “Economic Fury” campaign aimed at disrupting Iran’s ability to generate and transfer revenue through global energy markets.. Related News
NATO is discussing the possibility of helping ships pass through the blocked Strait of Hormuz if the waterway isn’t reopened by early July, according to a senior official in the military alliance.
The idea has support from several members of the North Atlantic Treaty Organization, but doesn’t yet have the necessary unanimous support, said a diplomat from a NATO country. Both officials spoke on the condition of anonymity. Leaders from NATO countries will meet in Ankara July 7-8.
“The political direction comes first, and then the formal planning happens after that,” said Alexus Grynkewich, NATO’s supreme allied commander Europe, when asked about the possibility at a Tuesday press conference. “Am I thinking about it? Absolutely.”
Such a move would represent a shift in the military alliance’s strategy toward the U.S.-Israeli war in Iran. Thus far, allies have insisted they would only be involved in the strait once fighting has stopped and they can form a broad coalition that includes many non-NATO countries.
But economic woes are deepening, with the strait’s closure sending energy prices soaring and growth forecasts tumbling. . Related News
Subsea7 – SUBC – EX. DIVIDEND
- Issuer: Subsea 7 S.A.
- Ex. date: 20 May 2026
- Dividend amount: NOK 13.00
- Announced currency: Norwegian Krone
Related News
BW Energy delivered solid operational performance in the first quarter of 2026, advancing all major development projects on plan and cost. The start to the year has been marked by significant strategic progress, with final investment decision made on the Bourdon development and the Golfinho infill wells project. Combined with an extension of the highly prospective Dussafu Marin production licence and continued progress on the MaBoMo Phase 2, Maromba and Golfinho Boost developments, BW Energy is on track to increase net production to over 100,000 barrels per day in 2028 and create substantial long-term shareholder value.
HIGHLIGHTS
(Numbers in parenthesis refer to Q4 2025 unless otherwise specified)
Solid operational performance
• Q1 2026 net production of 25.2 (25.2) kbopd, equal to 2.3 (2.3) million barrels (mmbbls)
• Quarterly production cost1 of USD 22.2 (21.3) per barrel
• Dussafu ESP successfully restored in March after impacting production since December 2025
Delivering on growth strategy
• Bourdon final investment decision (FID) of 18 million barrels2 in net 2P reserves
• Golfinho infill wells FID adding 50 million barrels of net 2P reserves
• MaBoMo Phase 2 set to start with appraisal drilling – first oil moved to Q1 2027
• Dussafu Marin production licence extended 20 years to 2048 with option for 5 more years
• Maromba and Golfinho Boost projects progressing on plan and cost
Robust financial results
• Q1 2026 EBITDA of USD 111.3 (37.1) million and net profit of USD 32.6 (3.3) million
• Q1 operating cash outflow of USD 38.5 (inflow of 63.5) million
• Cash position of USD 160.5 (150.5) million at 31 March
• Short-term sale and leaseback of Akoum (former Jasmine Alpha) freeing up USD 80 million of liquidity
• Dussafu RBL accordion of USD 100 million, fully committed by existing lenders, to be in place and effective from Q2 2026 Related News
BW Energy has made final investment decision for the Bourdon development in the Dussafu license offshore Gabon and a campaign of new infill wells in the Golfinho license offshore Brazil. The combined total 2P reserves estimate is 68 million barrels of oil equivalents.
The two sanctioned projects reflect the Company’s growth strategy based on infrastructure-led phased developments, minimising capital at risk and delivering high returns. Combined they increase BW Energy’s net production target by approximately 10% to more than 100,000 barrels of oil per day in 2028, and contribute to the company sustaining that production level into the next decade.
Bourdon Phase 1 highlights
• 25 mmboe in gross 2P reserves
• Of which ~100% oil
• Targeted first oil in Q1 2028
• Capital-efficient design with conversion of the Akoum rig (former Jasmine Alpha) to a new wellhead platform with a 12-slot wellbay
• Initial production from three wells, and capacity for future phases with additional potential of ~200 mmboe oil in place near Bourdon
• Net CAPEX of USD 300 million, with pre-first-oil spend of USD ~100 million supported by recent sale-and-leaseback agreement with Minsheng
• Term sheet signed for long-term lease, expected to cover 100% of wellhead platform CAPEX before first oil
• Internal rate of return (IRR) above 25% at USD 60 per barrel and breakeven at USD 45 per barrel at 10% discount rate
• Partners: BW Energy (operator, 73.5% working interest), Panoro (17.5% interest) and Gabon Oil Company (GOC) (9.0% interest)
New Golfinho wells highlights
• 50 mmboe in 2P reserves
• Of which 42% oil and 58% gas
• Targeted first oil end-2028
• 4 new wells (3 in Golfinho license, 1 in Camarupim license) in proven locations, to be tied back Golfinho FPSO and leveraging existing gas export pipeline from FPSO to shore
• Set to triple production from Golfinho area to ~30 kboped from 2029
• Net CAPEX of USD 450 million, of which USD 170 million committed to long-lead items and USD 280 million with optionality on timing of spend up to 6 months ahead of first oil
• Low development cost of USD ~9 per barrel enabled by existing infrastructure
• Internal rate of return above 50% at USD 60 per barrel and breakeven at USD 40 per barrel at 10% discount rate
• BW Energy operator with 100% working interest Related News
Saab has received an order from Lithuania for the Carl-Gustaf M4 weapon and training equipment. The order value is SEK 460 million with deliveries planned 2026-2029.
The order is part of a newly signed contract between Saab and Lithuania, which allows for potential options collectively valued up to a total of SEK 640 million. The agreement is valid for ten years and includes Carl-Gustaf M4 weapons, sub-calibre adapters for the use of training ammunition and Carl-Gustaf Outdoor Trainers. The agreement also includes cooperation with the Lithuanian defence industry in accordance with Lithuanian regulations.
“We are proud to continue providing the Lithuanian forces with the highly effective capabilities of the Carl-Gustaf weapon together with our training equipment, enabling the soldiers to prepare for and carry out their missions safely and with confidence,” says Görgen Johansson, head of Saab’s business area Dynamics.
The Carl-Gustaf recoilless rifle is a man-portable, multi-role weapon system that allows dismounted soldiers to safely and effectively deal with multiple challenges on the modern battlefield. Adaptable and flexible, the system is constantly evolving to meet user and market needs. The Carl-Gustaf training systems enable advanced and collective skills training, allowing forces to prepare for a wide range of scenarios. Related News
Baker Hughes Rig Count: International -22 to 1,036, U.S. +3 to 551 Canada +0 to 124
U.S. Rig Count is up 3 from last week to 551 with oil rigs up 5 to 415, gas rigs down 1 to 128 and miscellaneous rigs down 1 to 8.
Canada Rig Count is unchanged from last week at 124 with oil rigs down 1 to 76, gas rigs up 1 to 48 and miscellaneous rigs unchanged at 0.
International Rig Count is down 22 from last month to 1,036 with land rigs down 22 to 807, offshore unchanged at 229.
| Region | Period | Rig Count | Change |
| U.S.A | 15 May 2026 | 551 | +3 |
| Canada | 15 May 2026 | 124 | 0 |
| International | April 2026 | 1,036 | – 22 |
| Baker Hughes |
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