13 Jan Energy Price/News Update Brent $65.19/bbl, WTI Crude $60.72/bbl, OPEC $61.75/bbl
(Oilandgaspress) Oil prices up, in wake of Donald Trump placing an immediately effective 25 per cent tariff on all nations “doing business with the Islamic Republic of Iran.” Though there has been no official policy presented so far, the president wrote on social media: “Any country doing business with the Islamic Republic of Iran will pay a tariff of 25 per cent on any and all business being done with the United States of America. This Order is final and conclusive.”..Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $60.77 | Up |
| Crude Oil (Brent) | USD/bbl | $65.13 | Up |
| Bonny Light 12/01/26 CBN | USD/bbl | $66.46 | Up |
| Dubai | USD/bbl | $61.02 | — |
| Natural Gas | USD/MMBtu | $3.38 | Up |
| Murban | USD/bbl | $64.84 | Up |
| OPEC basket 12/01/26 OPEC | USD/bbl | $61.75 | Up |
| At press time January 13, 2026 . |
Woodside eports that the Scarborough Energy Project has reached a major milestone with the safe arrival of the floating production unit (FPU) at the Scarborough field, 375 km off the coast of Karratha, Western Australia.
The approximately 70,000 tonne FPU completed the journey from China to Australia, after being towed more than 4,000 nautical miles. The arrival of the FPU, which will process gas at the Scarborough field, marks a significant step forward for the Scarborough Energy Project, and builds on a long list of achievements in recent times. The Scarborough FPU, one of the largest semi-submersible facilities ever constructed, is the centrepiece of the Scarborough Joint Venture’s upstream development. It features advanced emissions-reduction systems and is designed to treat and compress gas for export through the trunkline. It can also accommodate future tie-ins to support the development of nearby fields.
Once operational, the Scarborough Energy Project will provide secure and reliable supply of gas for Western Australia and the wider Asia-Pacific region. It is also expected to contribute more than A$55 billion in direct and indirect taxes to Australia. Related News
Russia’s fossil fuel exports remain highly concentrated, with China dominating coal and crude oil purchases, Turkiye dominating purchases of oil products, and the EU remaining the largest buyer of LNG and pipeline gas
China’s seaborne crude imports from Russia saw a 23% month-on-month increase, corresponding to an 11% increase in total imports. Russian crude oil saw the biggest bump in China’s December supplies, with imports of Russian ESPO (Eastern Siberia-Pacific Ocean) grade crude rising to the highest levels in four months.
India’s Russian crude imports recorded a sharp 29% month-on-month reduction to the lowest volumes since the implementation of the price cap policy. These drops occurred despite total imports growing marginally. These drops were led by sharp reductions in imports by the Jamnagar refinery (-49%) and a 15% reduction by state-owned refineries in December. according to a Centre for Research on Energy and Clean Air ( CREA) report.
In December, Russia’s monthly fossil fuel export revenues saw a marginal 2% month-on-month decline to EUR 500 mn per day — the second lowest figure since the full-scale invasion of Ukraine. Monthly export volumes also witnessed a similar 2% month-on-month reduction.
Total crude oil export revenues dropped by 12% to EUR 198 mn per day. This was largely led by a significant 16% drop in revenues from seaborne crude, which totalled EUR 139 mn per day. The revenue reduction closely matched a similar 12% decline in export volumes.
Pipeline crude export revenues saw a 2% month-on-month increase to EUR 59 mn per day.
Liquefied natural gas (LNG) revenues increased by 13% to EUR 48 mn per day, aligning with a similar 16% increase in exported volumes — the highest in 2025.
Pipeline gas revenues rose by a massive 17% to EUR 70 mn per day. Related Report
The energy retail sector has just lived through some of the most turbulent years in retail history. For many, survival was the only metric that mattered. Yet, as the dust settles, a counterintuitive reality has emerged: for many B2B suppliers, the crisis years were actually a period of exceptional returns. For a long time, energy retailers operated on a blueprint of stability. That blueprint has been shredded. By 2022–2023, the data shows a market where margins have “spread all over the screen”. Volatility has become the baseline for retailers.
The headwinds facing retailers in the UK are intensifying: The “Concertina Effect”: A mass of short-term contracts signed during the crisis is bunching up for renewal, creating a potential revenue gap in 2026/27.
New Debt Risks: Insolvency rates are peaking, and 20% of SME customers are currently in debt to their suppliers.
Operational Shocks: The move to Market-wide Half-Hourly Settlement (MHHS) and the insatiable demand of new data centres threaten to upend forecasting models and create REGO scarcity.
However, it’s not just a UK issue. Related News
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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