30 Dec Energy Price, news and updates / WTI $58.29/bbl
(Oilandgaspress) – Nigerian National Petroleum Company Limited (NNPC Ltd.) announced the successful restoration of the Escravos–Lagos Pipeline System (ELPS) in Warri, Delta State. Following the unexpected explosion on December 10, 2025, we immediately activated our emergency response, deployed coordinated containment measures, and worked tirelessly with multidisciplinary teams to ensure the damaged section was repaired, pressure-tested, and safely recommissioned. Today, the pipeline is fully operational, reaffirming our resilience and commitment to energy security.
This achievement was made possible through the unwavering support of our host communities, the guidance of regulators, the vigilance of security agencies, and the dedication of our partners and staff. Together, we turned a challenging moment into a success story, restoring operations in record time while upholding the highest standards of safety and environmental stewardship.
As we move forward, NNPC Limited remains steadfast in its pledge to protect our environment, safeguard our communities, and maintain the integrity and reliability of our assets. Thank you for your trust as we continue to power progress for Nigeria, together. Related News
A record number of renewable energy projects were given the go-ahead in Great Britain in 2025, after planning approvals almost doubled year on year, according to an analysis.
The energy capacity of new battery, wind, and solar projects that received approval climbed to 45GW this year, 96% higher than in 2024, according to data from Cornwall Insight.
The boom was driven by applications to build new battery storage, which almost doubled to 28.6GW this year from 14.9GW in 2024. Meanwhile, planning approvals for offshore wind developments jumped more than sevenfold to 9.9GW from 1.3GW last year.
Planning approvals for battery, wind and solar power have risen by more than 400% over the past five years. Related News
By 2026, Cornwall Insight forecasts show, non-commodity charges will make up nearly 60% of a typical business electricity bill. This is being driven by rising transmission costs, new bill components such as the Nuclear Regulated Asset Base, and the widening of exemption schemes for energy-intensive users. Around 500 businesses that benefit from these schemes will see some relief, but for the majority outside these schemes, costs will continue to climb.
Even with softer gas prices, overall electricity bills are set to rise, and this imbalance will increase pressure on Government to act again. Expect further intervention beyond measures announced like the British Industrial Competitiveness Scheme (expected in 2027) as policymakers respond to mounting pushback on non-energy charges particularly for sectors and organisations not already covered by support schemes. Persistent high energy costs driven by network investments are pushing more customers to seek alternative supply arrangements and greater control over their consumption. In turn, suppliers of all sizes, including new entrants, will continue to take advantage of rule changes such as market-wide half hourly settlement (MHHS) and the growing demand for better green propositions such as matched Renewable Energy Guarantees of Origin and Power Purchase Agreements to broaden the range of tariff models available to both businesses and households. Read More
| Crude Oil (WTI) Oilprice | USD/bbl | $58.29 | Down |
| Crude Oil (Brent) | USD/bbl | $62.12 | Down |
| Bonny Light 30/12/25 CBN | USD/bbl | $64.97 | Up |
| Dubai | USD/bbl | $62.02 | Down |
| Natural Gas | USD/MMBtu | $3.95 | Down |
| Murban | USD/bbl | $61.66 | Down |
| OPEC basket 29/12/25 OPEC | USD/bbl | $61.03 | Down |
| At press time December 30, 2025 . |
Crude oil in and of itself is rarely used directly as a fuel. Rather it is refined into thousands of different products, some of which are fuels, many of which are not. Such oil-derived products are used in almost every economic sector and every stage of daily life.
That is not to downplay oil’s importance as a fuel. However, to define it only as a fuel mischaracterizes how we use it. According to OPEC’s World Oil Outlook 2025, the petrochemical industry will be the single largest contributor to global incremental oil demand growth in the period 2024-2050. Related
U.S. crude oil production from Alaska is poised to rise sharply next year, driven by major new North Slope developments, according to the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook.
The agency forecasts Alaska’s output will reach 477,000 bpd in 2026, the highest level since 2018 and a 13% increase over 2025—representing the state’s largest annual growth since the 1980s.
EIA attributes the rebound to two projects:
ConocoPhillips’ Nuna development, which began producing in late 2024 and is expected to peak at 20,000 bpd. The project delivered 7,000 bpd in August 2025, helping offset declines from legacy fields.
Santos and Repsol’s Pikka Phase 1 project, slated to start up in early 2026 and reach peak production of about 80,000 bpd by mid-year. That would account for nearly 20% of Alaska’s total crude output in 2025.
Both developments are ramping quickly and outperform the majority of existing wells on the North Slope. Recent Alaska Oil and Gas Conservation Commission data show new project wells averaging about 480 boed, while roughly 78% of Alaska wells produced below 400 boed in 2023. Related News
Baker Hughes Rig Count: International +14 to 1,073, U.S. +3 to 545 Canada -67 to 118
U.S. Rig Count is up 3 from last week to 545 with oil rigs up 3 to 409, gas rigs unchanged at 127 and miscellaneous rigs unchanged at 9.
Canada Rig Count is down 67 from last week to 118, with oil rigs down 60 to 59, gas rigs down 7 to 59 and miscellaneous unchanged at 0.
International Rig Count is up 14 from last month to 1,073 with land rigs up 14 to 833, offshore unchanged at 226.
The Worldwide Rig Count for November was 1,812, up 12 from the 1,800 counted in October 2025, and down 95, from the 1,907 counted in November 2024.
| U.S.A | December 23, 2025 | 545 | +3 |
| Canada | December 23, 2025 | 118 | -67 |
| International | November 2025 | 1073 | +14 |
Baker Hughes |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
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