10 Jan Daily Energy Price/News Update, oil market , oil price ,
(Oilandgaspress) 10/01/26 Almost 300 staff at Consumer Energy Solutions in south Wales have been impacted, after City Energy Group, which owns the company, confirmed it was undergoing a restructure.
Consumer Energy Solutions has sites in Swansea and Rhondda Cynon Taf. A notice posted on the Consumer Energy Solutions website on Friday revealed company had “ceased trading with immediate effect”. The announcement also confirmed CES will be unable to complete any further work for customers.
The group previously said the proposed restructure and job losses were the result of the end of the UK Government-backed Energy Company Obligation 4 scheme which it operated.
The initiative, which helped homeowners save on home energy upgrades, such as insulation, solar panels, and heat pumps, is due to come to an end this year.
The notice said: “Please note that James Saunders and Michael Lennon of KR8 Advisory Limited were appointed as joint administrators of Consumer Energy Solutions Limited on January 9, 2026, the company has ceased trading with immediate effect..Related News
Stellantis said on Friday it will stop selling plug-in hybrid versions of the Jeep Wrangler and Grand Cherokee, and the Chrysler Pacifica minivan, in the United States as it navigates soft demand and shifts its North American electrification strategy..Stellantis’ decision also follows a recall last year of about 375,000 Jeep plug-in hybrids after the company cited concerns about battery failures and reports of fires. Related News
Crude oil has lubricated the Russian economy for decades – far more than gas exports to Europe – and so the threat of falling oil prices, prompted by US plans for control of Venezuela’s rigs, will have been a source of concern.
Opinion is divided on how quickly the South American country’s creaking oil industry can be revived. But some analysts believe that Venezuela, home to the world’s largest proven reserves, could be pumping millions of additional barrels as early as this year, hitting the global price and squeezing Russia’s income.
US sanctions on Rosneft and Lukoil last year and a rise in the rouble, depressing income from oil sales in dollars, have already reduced receipts for Moscow. Related News
Ukrainian Defense Forces on the night of January 10 struck a fuel depot in Volgograd Oblast, Russia, as well as a number of targets in temporarily occupied Ukrainian territories, according to the Telegram channel of the General Staff of the Armed Forces of Ukraine. The General Staff noted that the target was hit, and the extent of the damage is being clarified. It is known that this facility is involved in supplying fuel to Russian army units.
In addition, on temporarily occupied territory in Zaporizhzhia, a drone storage site belonging to a unit of the 19th Motorized Rifle Division of the Russian army was struck. Ukrainian troops also struck an enemy drone control point in the Pokrovsk area of Donetsk Oblast. Related News
U.S. President Donald Trump said he has canceled a fresh military attack on Venezuela, saying the two countries “are working well together,” on rebuilding the nation’s oil and gas infrastructure.
Writing on Truth Social on Friday, Trump noted Venezuela’s release of “large numbers of political prisoners” which he called “a very important and smart gesture.” Read More
“BIG OIL” leaders will invest “at least $100 billion ” into Venezuela towards “rebuilding, in a much bigger, better and more modern form, their oil and gas infrastructure.”
He also claimed Washington and Caracas have been “working well together” on rebuilding the Venezuelan oil industry in the days since Venezuelan president Darcy Rodriguez was installed following the snatching-up of longtime leader Nicolas Maduro in an audacious nighttime raid by American commandos last week. He is set to meet with top oil industry executives at the White House in hopes of convincing them to put their respective companies’ resources into reviving the Venezuelan petroleum sector after U.S. forces captured the country’s ex-president. Read More
The United States will “do something on Greenland, whether they like it or not,” President Donald Trump said on Friday, doubling down on threats to seize the semi-autonomous region of Denmark.
“Because if we don’t do it, Russia or China will take over Greenland. And we’re not going to have Russia or China as a neighbour,” he added.
Trump made the comments during a meeting accompanied by Vice President JD Vance, Secretary of State Marco Rubio and oil executives at the White House, claiming that he’s a “big fan” of Denmark and would like to make a deal the “easy way”.
“I would like to make a deal, you know the easy way but if we don’t do it the easy way we’re going to do it the hard way”. Related News
A drone strike by Ukraine has caused a fire at an oil depot in Russia’s southern Volgograd region, according to regional authorities. In a post on Telegram, the local governor Andrei Bocharov said there had been no casualties reported so far.
He did not specify damage, but said people living nearby may have to be evacuated.
The Ukrainian military said it had struck the Zhutovskaya oil depot overnight, which was reportedly supplying fuel to Russian forces. Related News
Vladimir Putin has once again rejected a peace plan for Ukraine as the Kremlin claimed the proposals from Europe and the US was “the true axis of war.”
Moscow’s Ministry of Foreign Affairs claimed the section of the deal that promised to give Ukraine security guarantees is not a concerted path to peace.
Tensions are rising between Russia and the West after the United States and Venezuelan authorities seized an oil tanker which departed Venezuela without their approval. Related News
The Dangote refinery has accused the former leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Commission (NMDPRA) of issuing import licences that led to petrol imports exceeding domestic demand in November 2025.Nigerian Events Calendar
Reports had linked the surge in imports to a pricing dispute between petroleum marketers and the refinery, allegedly resulting in a breakdown of supply arrangements. But in a statement issued Friday by refinery spokesperson Anthony Chiejina, Dangote denied any collapse of agreements with marketers. The refinery explained that its participation in the downstream market was intentionally structured to respond to rising demand while improving access, competition, and efficiency.
According to the refinery, petrol supply to the market began in October 2025 with an agreed 600 million litres offtake, rising to 900 million litres in November and 1.5 billion litres in December. The refinery said the expansions corresponded with market growth and absorption capacity. Related News
A new report, written by energy consultant Kathryn Porter, warns that Britain’s decarbonisation strategy is built on overly optimistic assumptions about how quickly infrastructure can be delivered and how much intermittent renewable power the system can safely absorb.
It says heat pumps and electric vehicles are rolling out more slowly than planned, while the grid needed to support them is becoming more constrained, not less. At the same time many gas power stations that supply millions of homes are nearing the end of their lives, with no upgrades or replacements planned.
She warned that because new equipment takes years to deliver, failure to act now could leave Britain facing power shortages and rolling blackouts on cold, windless winter days. Related News
Protests that have gripped Iran are nearing the two-week mark as the rhetoric from both inside the country and out is ramping up.
Facing intense pressure from the wave of protest, Supreme Leader Ayatollah Ali Khamenei has signalled a coming clampdown and accused the people on the street of supporting US President Donald Trump. At least 72 people have been killed and over 2,300 others detained since the protests began, according to the US-based Human Rights Activists News Agency. Related News
Staff at three hospitals in Iran have told the BBC their facilities are overwhelmed with dead or injured patients, as major anti-government protests continue.
A medic at one Tehran hospital said there were “direct shots to the heads of the young people, to their hearts as well”, while a doctor said an eye hospital in the capital had gone into crisis mode.
Two of the medical workers who spoke to the BBC said they treated gunshot wounds from both live ammunition and pellets. Related News
U.S. President Donald Trump said “it’s up to” Chinese President Xi Jinping what China does on Taiwan, but that he would be “very unhappy” with a change in the status quo, according to an interview the New York Times published on Thursday.
“He (Xi) considers it to be a part of China, and that’s up to him what he’s going to be doing,” Trump told the newspaper on Wednesday. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $59.12 | Down |
| Crude Oil (Brent) | USD/bbl | $63.34 | Down |
| Bonny Light 31/12/25 CBN | USD/bbl | $63.42 | — |
| Dubai | USD/bbl | $60.08 | — |
| Natural Gas | USD/MMBtu | $3.16 | Down |
| Murban | USD/bbl | $63.50 | Up |
| OPEC basket 08/01/26 OPEC | USD/bbl | $58.76 | — |
| At press time January 09, 2026 . |
Baker Hughes Rig Count: International -8 to 1,065, U.S. -2 to 544 Canada +96 to 197
U.S. Rig Count is down 2 from last week to 544 with oil rigs down 3 to 409, gas rigs down 1 to 124 and miscellaneous rigs up 2 to 11.
Canada Rig Count is up 96 from last week to 197 with oil rigs up 79 to 128, gas rigs up 17 to 69 and miscellaneous unchanged at 0.
International Rig Count is down 8 from last month to 1,065 with land rigs down 2 to 845, offshore down 6 to 220.
The Worldwide Rig Count for December was 1,783, down 30 from the 1,812 counted in November 2025, and down 82, from the 1,865 counted in December 2024.
| Region | Period | Rig Count | Change |
| U.S.A | 09 January 2026 | 544 | -2 |
| Canada | 09 January 2026 | 197 | +96 |
| International | December 2025 | 1065 | -8 |
| Baker Hughes |
| Region | Period | Rig Count | Change |
| Africa, Land/Offshore | December 2025 | 105 | +4 |
| Middle East, Land/Offshore | December 2025 | 509 | -4 |
| Asia-Pacific, Land/Offshore | December 2025 | 123 | -2 |
| Latin America, Land/Offshore | December 2025 | 129 | -5 |
Baker Hughes |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
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