20 Jan Energy news, commentary and analysis | EU sanction taking effect on January 21
(Oilandgaspress) The sanction involves banning imports into the European Union of products derived from Russian crude oil and is the latest attempt to cut revenues for Moscow’s war in Ukraine. Crude oil deliveries to Russia’s refineries reportedly dropped in 2025 to the lowest level in at least 15 years, mostly due to unplanned outages in the second half of the year as Ukraine intensified attacks on Russia’s oil refineries, depots, and export terminals in an escalation of the war on energy infrastructure using drones and missiles. The war shows no sign of stopping, with Ukraine determined to reclaim occupied territories and push Russian forces further back.
Petroliam Nasional Bhd.(Petronas) appointed Mohd Jukris Abdul Wahab as its new chief operating officer, enhancing its senior leadership structure amid an ongoing legal dispute over gas assets in Sarawak.
The appointment will be effective Feb. 1, and Jukris will concurrently hold his position as chief executive officer of Petronas’ upstream business, the state-owned oil and gas company said in a statement on Monday.
The COO would support group Chief Executive Officer Tengku Muhammad Taufik in matters involving federal and state governments, The Edge reported, citing an internal note. . Related News
Oil Prices Today
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $60.37 | Up |
| Crude Oil (Brent) | USD/bbl | $64.99 | Up |
| Bonny Light 19/01/26 CBN | USD/bbl | $67.84 | Down |
| Dubai | USD/bbl | $61.66 | Up |
| Natural Gas | USD/MMBtu | $3.83 | Up |
| Murban | USD/bbl | $65.90 | Up |
| OPEC basket 19/01/26 OPEC | USD/bbl | $62.61 | Down |
| At press time January 20, 2026 . |
SOCAR Carbamide has been admitted to the prestigious Global Lighthouse Network of the World Economic Forum and has also been awarded the Forum’s Digital Lighthouse Award.
Within the framework of the World Economic Forum, the award was presented to Mikayil Jabbarov, Chairman of SOCAR’s Supervisory Board and Minister of Economy of the Republic of Azerbaijan. As a result of systematic transformation and innovation-oriented activities carried out over the past three years, the SOCAR Carbamide has distinguished itself among the world’s largest and was initially shortlisted among the finalists in 2025, after which on-site evaluations were conducted by experts provided by the World Economic Forum, resulting in the plant being admitted to the Global Lighthouse Network and also being awarded the Forum’s Digital Lighthouse Award.
It should be noted that previously the Digital Lighthouse Award was presented to SOCAR Petkim Petrochemical Complex and SOCAR STAR refinery. At the same time, the SOCAR Carbamide is the first facility operating in Azerbaijan to achieve this distinction. In addition, it is the world’s first fertilizer plant to be awarded this distinction.
Overall, over the past three years SOCAR has invested in advanced technologies related to production efficiency, process safety, and HSE, achieving progress in these areas Related News
Octopus Energy was named Britain’s Most Admired Company 2025 – the youngest business ever to achieve the feat – in a prestigious awards ceremony at the London Stock Exchange.
The UK’s largest energy supplier took the top award in the leading corporate reputation rankings as well as an astonishing six gold sector and two silver sector awards.
Previous winners of the title have been in existence for decades – in some cases more than 100 years – making Octopus’ achievement all the more extraordinary.
Founder and CEO Greg Jackson said: “Business leaders use the word ‘humbled’ all the time – but this really is the case today.
“To be Britain’s Most Admired Company – voted for by other businesses, including our competitors – feels like a real achievement. Related News
Octopus Energy has officially brought its game-changing Zero Bills revolution to Scotland, launching the country’s first eligible homes where householders won’t have to pay a penny for their home energy bills for at least 10 years.
All 57 properties at the Tranent Grove development in North Dundee with Discovery Homes will be eligible for Octopus Energy’s groundbreaking Zero Bills tariff as an optional upgrade for homebuyers*, marking the first Zero Bills site north of the border.
Launched in 2022, Zero Bills allows customers to move into homes packed with cutting-edge green tech – including a heat pump, battery and solar panels – with no home energy bills for at least 5-10 years, guaranteed**.. Related News
A new survey of more than 1,800 UK households carried out during the latest cold snap reveals that people who have heat pumps installed reported higher comfort, higher overall satisfaction, and significantly better value for money than those relying on gas boilers.*
When asked how well their heating kept their home warm during the cold weather, nine out of ten (85%) heat pump owners said they were satisfied with performance, compared to eight out of ten (80%) gas boiler users.
Overall approval for heat pumps during the cold snap also pipped out gas boilers, with almost every heat pump customer (89%) reporting satisfaction with their heating system compared to three quarters (78%) of gas boiler users. Related Report
Aramco President & CEO Amin H. Nasser will join a panel of business leaders to discuss the future of AI at the World Economic Forum in Davos, which begins today. The Aramco CEO is expected to join the leaders of companies that include Royal Philips, Visa and Accenture to discuss the scaling of IT technologies to achieve long term transformation across different sectors.
Held under the theme, ‘A Spirit of Dialogue’, Davos 2026 aims to provide an impartial platform to connect leaders to confront shared challenges and drive innovations defining the future. … Related News
Buzios oilfield is located in the Santos Basin, southeast offshore of Brazil. It is the largest deep-water pre-salt oilfield in the world. Buzios6 is the seventh project commissioned of the oilfield. It will be developed with an FPSO and subsea production system. 13 development wells are planned to be commissioned, including 6 oil producers and 7 injectors. With Buzios6 on-stream, the installed production capacity of the Buzios oilfield will reach 1.15 million barrels per day.
The FPSO used in the Buzios6 project has a designed production capacity of 180,000 barrels of crude oil per day and 7.2 million cubic meters of natural gas per day, along with a storage capacity of 2 million barrels. To enhance environmental performance, it is equipped with closed flare to reduce greenhouse gas emissions, and heat recovery devices to reduce energy consumption.
CNOOC Petroleum Brasil Ltda., a wholly-owned subsidiary of the company, holds a 7.34% interest in the Buzios Shared Reservoir, while the operator Petrobras holds 88.99%, and CNODC Brasil Petróleo e Gás Ltda. holds 3.67%.. Related News
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community…. 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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