25 Feb Energy Price, news updates and expert commentary 25/02/26
(Oilandgaspress) Oil prices up as the threat of military conflict between the U.S. and Iran threatening to disrupt supply continues to worry investors even as talks between the parties are set for Thursday.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $66.13 | Up |
| Crude Oil (Brent) | USD/bbl | $71.35 | Up |
| Bonny Light 24/02/26 CBN | USD/bbl | $73.35 | — |
| Dubai | USD/bbl | $68.23 | Down |
| Natural Gas | USD/MMBtu | $2.97 | — |
| Murban | USD/bbl | $71.03 | Up |
| OPEC basket 24/02/26 OPEC | USD/bbl | $69.69 | Down |
| At press time February 25, 2026 |
Eni informs that on 18 February 2026 the buyback programme (the “Programme”) for the year 2025 totaling EUR 1,8 billion, approved by the Shareholders’ Meeting on 14 May 2025 for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends, terminated. During the Programme Eni acquired on the Euronext Milan no. 118,782,928 shares (equal to 3.77% of the share capital), for a total consideration of 1,799,999,988.06 euro. These shares will be cancelled in accordance with the terms and timing resolved by the Shareholders’ Meeting on 14 May 2025.
Considering the treasury shares already held and the purchases made from the beginning, on 20 May 2025, of the Programme and the free of charge shares granted to Eni’s employees (as provided by the “Long-Term Incentive Plan 2020-2022” approved by Eni’s Shareholders’ Meeting of 13 May 2020 and by the “Employee Stock Ownership Plan” approved by Eni’s Shareholders’ Meeting of 15 May 2024), Eni holds n. 205,610,942 shares equal to 6.53% of the share capital1.
During the period from 16 to 18 February 2026, Eni acquired no. 1,189,467 (equal to 0.04% of the share capital), at a weighted average price per share equal to € 18.2217, for a total consideration of € 21,674,131.24..Related News
Shell and METLEN, signed a Memorandum of Understanding (MoU), establishing a framework for cooperation in the supply and trading of Liquefied Natural Gas (LNG). Shell, one of the world’s largest LNG producers and traders, and METLEN, which holds a leading position in the natural gas market of Southeast Europe, are both listed on the London Stock Exchange and on the FTSE 100 Index. Under the MoU, the two companies will supply and trade approximately 0.5 to 1.0 bcm per year over the five-year period 2027–2031, with deliveries to the Greek LNG regasification facilities in Revithoussa and Alexandroupolis. The agreement also envisages the use of the Vertical Gas Corridor, enabling access to additional European markets beyond Southeast Europe.
Shell, as the largest purchaser of LNG from the United States, is well positioned to support growing natural gas supply needs through its global portfolio, advanced shipping capabilities, and extensive market expertise. Related News
Typical UK household energy bills will fall by 7% in April, regulator Ofgem has announced, following a shake-up in charges by the government. Nearly everyone in England, Wales and Scotland will benefit from a cut irrespective of their tariff, although the amounts will vary between households.
For millions of households on variable tariffs governed by the price cap, the drop will be about £10 a month for those using a typical amount of gas and electricity.
However, prices are still about a third higher than before the war in Ukraine, debts have ballooned, and billpayers are being urged to shop around for further savings.
The 7% fall in the price cap is the biggest drop since last summer. While the government promised a £150 a year reduction in April for a household using a typical amount of energy, the cost of running the energy network is up, leading to a lesser saving of £117 for billpayers. Related News
Changes to the maximum amount UK energy suppliers can charge people on default tariffs for each unit of energy and the daily standing charge. Every 3 months we review and set a level for how much an energy supplier can charge for each unit of energy and daily standing charge, under the price cap.
From 1 April to 30 June 2026 energy prices will go down by £117 or 7% for a typical household who use electricity and gas and pay by Direct Debit. These households will save around £10 a month.
Compared to the level between April and June 2025, it is 11% or £208 lower.
The annual cost for people who use electricity and gas and pay by Direct Debit would be £1,641 per year. You are covered by the energy price cap if you are on a default tariff and pay for your electricity and gas by:
standard credit (payment made when you get your electricity and gas bill)
Direct Debit
prepayment meter
Economy 7 (E7) meter
The actual amount you pay will depend on how much energy your household uses, where you live and the type of meter you have. Related News
Chariot reports that Etana Energy, the South African electricity trading platform in which Chariot’s subsidiary, Chariot Generation and Trading holds an economic interest of 34%, alongside H1 Holdings, Norfund and Standard Bank, has signed up a further 150MWAC in sole offtake from the Orkney 219MWDC solar photovoltaic project which has now reached financial close. Chariot Generation and Trading is co-owned by Chariot and the Mahlako Energy Fund.
The Orkney project, located in the North-West province of South Africa, is being built by Mulilo a leading renewable energy developer and independent power producer and will be financed by Mulilo and a consortium of South African financial institutions. Once operational, Orkney will have an export capacity of 150MWAC and is expected to produce around 478GWh of renewable electricity annually, which will be wheeled to Etana’s customers via South Africa’s national and municipal distribution network. This is the second project that has been completed through the Etana and Mulilo partnership, the first being the 75MWAC Du Plessis Dam Solar PV2 project that commenced construction last year. Related News
Chariot has announced plans to provide $12 million in funding, alongside transaction costs, to support Etu Energias in acquiring a 20% interest in Block 14 and a 10% interest in Block 14K offshore Angola. In return, Chariot will secure exposure to the economics of production equivalent to up to 4,000 barrels of oil per day, with funding to be repaid from future cash flows. Related News
Four of Britain’s leading energy companies – National Gas, Centrica, Equinor and SSE Thermal – have launched a coordinated bid to develop Britain’s first regional hydrogen transport and storage network in the Humber. Humber Hydrogen is a network that includes the Humber Hydrogen Pipeline and Aldbrough Hydrogen Storage, which will submit proposals under the Government’s Hydrogen Transport and Storage Business Model processes. This is a competitive process that will determine where the UK’s first integrated hydrogen network is built. The funding decision, expected to be worth around £500 million, would establish the infrastructure that will underpin large-scale hydrogen deployment in the UK.
The companies are combining their expertise in hydrogen transport, production, usage and storage to develop a first-of-its-kind coordinated hydrogen network in Britain, connecting projects across Yorkshire and Lincolnshire including locations such as Aldbrough, Easington, Saltend, Immingham and Keadby to link hydrogen production with industrial customers and power stations. Related News
Centrica Energy announced the signing of a long-term natural gas purchase agreement with Whitecap Resources Inc., a leading Canadian producer dedicated to the responsible development of oil and gas resources across the Western Canadian Sedimentary Basin.
Starting in April 2028, Whitecap will deliver 50,000 MMBtu of natural gas per day to Centrica Energy for a period of ten years – equivalent to roughly five LNG cargoes each year. The supply will be priced against the Title Transfer Facility (TTF), the benchmark for European gas markets.
This agreement advances Centrica’s strategy of managing market price exposure across its LNG portfolio by linking feed gas costs to European price signals. For Whitecap, the agreement provides access to international LNG-linked pricing, supporting the company’s natural gas price diversification strategy.. Related News
Golar LNG Limited reports Q4 2025 net income attributable to Golar of $10 million inclusive of $28 million of non-cash items, Adjusted EBITDA1 of $91 million and Total Golar Cash1 of $1.2 billion.
Full year 2025 net income attributable to Golar of $66 million inclusive of $84 million of non-cash items1, and Adjusted EBITDA1 of $265 million.
FLNG Hilli exceeded 2025 production target.
FLNG Gimi overproduced compared to contractual committed volume during Q4 2025, with production also frequently exceeding nameplate capacity during the quarter.
MKII construction on time and on budget.
Satisfied all remaining conditions precedent for 20-year MKII FLNG contract with Argentina’s Southern Energy S.A. (“SESA”).
Positive development of the commercial pipeline. We plan to order our 4th FLNG when commercial terms for long-term deployment have matured.
Closed and drew down $1.2 billion FLNG Gimi secured bank facility.
Entered the U.S. rated bond market with $500 million of 5-year 7.50% senior unsecured notes.
Repaid $190 million outstanding balance of the 2021 Unsecured Bonds that matured in October 2025.
Repurchased and cancelled 1.1 million shares during Q4 2025 at an average price of $37.76 per share under $150.0 million share buyback program; $109 million remains available. 101.3 million shares issued and outstanding as of December 31, 2025.
Declared dividend of $0.25 per share for the quarter, payable on March 18, 2026 to shareholders of record on March 9, 2026. Related News
UK Energy Profit Levy (EPL) revenues fell to £690m in January 2026, down from £952m in the same month last year, according to the latest HMRC tax receipts.
The figures extend a downward trend in revenues from the windfall tax on oil and gas producers, introduced in response to elevated energy prices. Industry experts say lower investment and reduced North Sea activity are now feeding through to Treasury receipts. The latest data underscores the delicate balance between tax policy, energy security and the pace of the UK’s transition to net zero, as policymakers weigh fiscal returns against long term investment and supply resilience. Read More
The UK government is said to be weighing an early end to the controversial Energy Profits Levy (EPL) or windfall tax, amid sustained pressure from the oil and gas industry. Treasury officials and North Sea operators have engaged in an “intense schedule of meetings” over the past three weeks ahead of the Spring Statement, according to trade outlet Upstream. Energy firms, lobby groups and opposition parties have been demanding the mechanism is brought about before the 2030 deadline to stem the loss of jobs and investment in the North Sea, currently running at 1,000 jobs per month. Related News
Mitsui & Co signed two loans totalling US$689m on Tuesday for the Ruwais liquified natural gas project in the United Arab Emirates. The borrowings comprise a US$532m facility and a US$157m portion. Japan Bank for International Cooperation is providing US$319m and US$94m, while Sumitomo Mitsui Banking Corp is funding US$213m and US$63m, respectively, according to a statement from JBIC on Wednesday.
Funds are to construct and operate, together with Abu Dhabi National Oil, the LNG facilities in Al Ruwais City in Abu Dhabi. Mitsui holds a 10% stake in the project. Related News
First Solar, Inc. announced financial results for the fourth quarter and year ended December 31, 2025. Net sales for the fourth quarter were $1.7 billion, an increase of $0.1 billion from the prior quarter. The increase was primarily driven by an increase in the volume of modules sold in the fourth quarter. Net sales for the full year 2025 were $5.2 billion compared to $4.2 billion in the prior year, driven by a 24% increase in third‑party module volume. The Company reported fourth quarter net income per diluted share of $4.84 and full year net income per diluted share of $14.21.
Cash, cash equivalents, restricted cash, restricted cash equivalents, and marketable securities, less debt at the end of the fourth quarter increased to $2.4 billion from $1.5 billion at the end of the prior quarter. The increase was primarily the result of additional proceeds received from the sale of our 2025 advanced manufacturing production tax credits under Section 45X of the Internal Revenue Code (“Section 45X tax credits”) and operating cash flows, partially offset by capital expenditures associated with our Louisiana facility. Related News
US President has announced a new tariff on India, saying imports of solar panels to the United States would be subject to tariffs of 126%.
The move was reportedly motivated by the discovery that India was subsidizing its solar panel industry at the same rate of 126%. Laos and Indonesia were also targeted with import tariffs corresponding to the subsidy rates both governments provided for their respective solar industries. The tariffs follow a trade case brought to the Department of Commerce by the U.S. solar panel industry. A fact sheet published on the Commerce Department’s website shows that U.S. imports of solar panels from India had surged from $83.86 million in 2022 to $792.65 million in 2024, amid a squeeze on Chinese solar panel imports and industry sensitivity to prices.
Bloomberg reported that India, Indonesia, and Laos together accounted for 57% of all solar panel imports into the United States in the first half of last year. The value of those combined imports was $4.5 billion. Related News
Baker Hughes Rig Count: International +14 to 1,079, U.S. unchanged at 551 Canada +2 to 224
U.S. Rig Count is unchanged from last week at 551 with oil rigs unchanged at 409, gas rigs unchanged at 133 and miscellaneous rigs unchanged at 9.
Canada Rig Count is up 2 from last week to 224 with oil rigs unchanged at 153, gas rigs up 2 to 71 and miscellaneous unchanged at 0.
International Rig Count is up 14 from last month to 1,079 with land rigs up 3 to 839, offshore up 11 to 231.
International Rig Count is down 20 rigs from last year’s count of 1,099, with land rigs down 7, offshore rigs down 13.
| Region | Period | Rig Count | Change |
| U.S.A | 20 February 2026 | 551 | — |
| Canada | 20 February 2026 | 224 | +2 |
| International | January 2026 | 1,079 | +14 |
| 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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