25 Jan Energy newstrack, commentary and analysis | WTI Crude $61.21/bbl, Bonny Light $67.61/bbl, OPEC $63.21/bb
(Oilandgaspress) The UK, Ireland, Germany, France, Belgium, Luxembourg, the Netherlands, Denmark, and Norway will pledge on Monday at the international North Sea Summit in Hamburg, Germany, to accelerate offshore wind power via large-scale cross-border projects, according to a draft declaration of the summit seen by Reuters.. Related News
Oil Prices Today
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $61.07.36 | Up |
| Crude Oil (Brent) | USD/bbl | $65.88 | Up |
| Bonny Light 23/01/26 CBN | USD/bbl | $67.61 | Down |
| Dubai | USD/bbl | $61.41 | Down |
| Natural Gas | USD/MMBtu | $5.27 | Up |
| Murban | USD/bbl | $65.94 | Up |
| OPEC basket 22/01/26 OPEC | USD/bbl | $63.21 | Up |
| At press time January 25, 2026 |
Ahead of the North Sea Summit in Hamburg – a format launched by neighbouring countries to strengthen energy security in response to Russia’s invasion of Ukraine – Andrew Mitchell, the UK’s ambassador to Germany, told Clean Energy Wire that London is seeking closer integration with European energy infrastructure and climate initiatives. While approaches differ in how to balance costs, local production, and cross-border interconnections, all North Sea countries share a common ambition to transform the sea into a reliable, secure and climate-friendly source of power. .Related News
On January 26, the North Sea countries will convene again for the North Sea Summit – one of the key political moments for Europe’s offshore wind sector. With the growing relevance of cross-border cooperation in energy, industry policy and security, the outcomes of this summit will directly shape Germany’s legally defined offshore wind expansion pathway.
To ensure a rapid and well-founded assessment, the Federal Association of Offshore Wind Energy (BWO) will host a concise online debrief.
Together with expert colleagues from other major European markets.. Related News
Bharat Petroleum Corporation Limited (BPCL) is set to sign next week an oil supply deal with Brazilian state giant Petrobras for the delivery of 12 million barrels of crude, valued at about $780 million.
The signing of the agreement is expected to take place during the India Energy Week 2026 forum, which will be held between January 27 and January 30 in Goa Related News
Petrobras and Transpetro are contracting five gas carriers, as well as 18 barges and 18 pushboats, with a total investment of R$ 2.8 billion and the potential to generate more than 9,000 direct and indirect jobs.
All vessels will be operated by Transpetro and built in shipyards in three states. In Rio Grande do Sul, the Rio Grande Shipyard will be responsible for building the gas carriers. In Amazonas, the Bertolini Construção Naval da Amazônia shipyard will build the 18 barges. In Santa Catarina, the Indústria Naval Catarinense shipyard will build the 18 pushboats.
With these new vessels added to the owned fleet, there will be a reduction in dependence on chartering, providing greater flexibility and efficiency to the logistics operations for the transportation of liquefied gases (LPG) and other products. Related News
Petrobras President Magda Chambriard will participate this Monday (January 26th) in the ceremony marking the start of construction on the Olegário Tolói de Oliveira Women’s Football Training Center in Araraquara , São Paulo. The training center will be the first in Brazil dedicated exclusively to this sport.
The initiative, carried out through an agreement with Fundesport (Sports Support Foundation of the Municipality of Araraquara), a municipal public entity linked to the city hall, represents a historic milestone for national sport and reinforces the company’s commitment to inclusion , equity and social development through sport . Related News
Seadrill Limited provided the following contracting updates for the West Capella, West Elara and West Carina. In Malaysia, the ultra-deepwater drillship West Capella has secured a contract with an undisclosed operator. The well-based program is expected to commence in the second quarter of 2026 for an estimated duration of 440 days, plus priced options for three additional wells. The total contract value for the firm term is approximately $157 million, including a $5 million mobilization fee and excluding additional services.
In Norway, the West Elara has secured an accommodation contract with Equinor AS on the Norwegian Continental Shelf. The program is anticipated to commence in the third quarter of 2026 and continue into the fourth quarter of 2027, with a total contract value of $78 million, plus three priced options of three months each. Prior to this fixture, Seadrill reached a mutual agreement with the current contract holder to make the West Elara available. This update to the rig’s schedule results in a net increase in total contract value of $23 million.
In Brazil, the West Carina’s current contract has been extended through April 2026. Related Report
Baker Hughes Rig Count: International -8 to 1,065, U.S.U.S. +1 to 544 Canada +5 to 231
U.S. Rig Count is up 1 from last week to 544 with oil rigs up 1 to 411, gas rigs unchanged at 122 and miscellaneous rigs unchanged at 11.
Canada Rig Count is up 5 from last week to 231 with oil rigs up 8 to 158, gas rigs down 3 to 73 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 | 23 January 2026 | 544 | +1 |
| Canada | 23 January 2026 | 231 | +5 |
| International | December 2025 | 1065 | -8 |
| 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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