Daily Energy Price/News Update Brent $64.06/bbl, WTI Crude $59.36/bbl,

22 Jan Daily Energy Price/News Update Brent $64.06/bbl, WTI Crude $59.36/bbl,

(Oilandgaspress) Canada signed major trade agreements with China for electric vehicles and canola, and agreed to cooperate on energy generation, indicating a significant shift in Canada’s diplomatic and trade strategy. The Canadian government has agreed to allow 49,000 Chinese electric vehicles into the market at a tariff rate of 6.1 per cent — a measure that had been in place before Ottawa put a 100 per cent tariff on all Chinese EVs in 2024. Related News

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Tokyo Electric Power Company Holdings (TEPCO) halted operations at a reactor at the Kashiwazaki Kariwa nuclear power plant just one day after restarting the unit, Reuters reported.

The operator stopped the reactor after detecting an equipment issue during post-restart checks, marking an immediate setback at the world’s largest nuclear power station by capacity, according to Reuters. Related News

Galp and Moeve’s shareholders Mubadala Investment Company and The Carlyle Group (“Moeve”), have reached a non-binding agreement to advance detailed discussions on the potential combination of their downstream portfolios with the aim of creating two leading energy companies in the Iberian Peninsula: the “RetailCo” and the “IndustrialCo”.

. Under the proposed structure, refining assets will be consolidated into IndustrialCo and service stations into RetailCo. The combined refining system will total roughly 710,000 b/d in capacity, placing it among the largest downstream players in Southern Europe, with Moeve’s shareholders Mubadala and Carlyle controlling 80% of IndustrialCo and Galp retaining a 20% minority stake. The merged retail network (50:50) will span about 3,500 service stations across Spain and Portugal, materially enhancing scale and integration in a highly competitive market. Related News

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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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