30 Jan Energy Price, news updates and expert commentary 30/01/26
(Oilandgaspress) Venezuela’s National Assembly unanimously approved a reform of the Hydrocarbons Law on Jan. 29, with the intent of opening up Venezuela’s oil industry in order to boost production and exports. Related News
The use of renewable energy sources in heating and cooling continues to increase in the EU, with the share reaching 26.7% in 2024, the highest value since the time series started in 2004 (11.7%). The share increased by 0.5 percentage points (pp) compared with 2023 (26.2%), but was below the average annual increase from 2004 to 2024 (0.75 pp). In absolute terms, the gross final consumption of renewable energy for heating and cooling purposes in the EU has gradually increased over time, mostly due to the contribution of biomass and heat pumps. Related News
Oil price yo-yo continues as prices drops again.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $65.03. | Down |
| Crude Oil (Brent) | USD/bbl | $70.41 | Down |
| Bonny Light 29/01/26 CBN | USD/bbl | $73.92 | — |
| Dubai | USD/bbl | $61.86 | Up |
| Natural Gas | USD/MMBtu | $3.89 | Up |
| Murban | USD/bbl | $66.96 | Down |
| OPEC basket 29/01/26 OPEC | USD/bbl | $67.00 | Up |
| At press time January 30, 2026 |
After a 4,000-plus nautical mile journey from China, the Scarborough Energy Project’s floating production unit (FPU) arrived safely Down Under in January, marking a major milestone for the project. The FPU will power the Scarborough Energy Project for the next 30 years from its new home, 375 km off the north west coast of Western Australia.
Five vessels, four at any time, towed the 70,000-tonne FPU at an average speed of about four knots over its extraordinary voyage. It was the marine equivalent of towing an apartment block at jogging pace from Perth to Sydney – and back again. The FPU, one of the largest semi-submersible facilities ever constructed, features advanced emissions-reduction systems and is designed to treat and compress gas for export through the trunkline. Related News
Woodside’s Q4 results announced this week capped a year of record production, with operational excellence across the company’s global assets propelling the business through the fourth quarter. The 198.8 million barrels of oil equivalent produced in 2025 exceeded production guidance, and represents the largest figure in our company’s more than 40 years of operations.
Woodside Acting CEO Liz Westcott said: At Louisiana LNG, construction advanced on the three-train foundation phase, which was 22% complete at the end of the quarter. First LNG is targeted for 2029, with the project set to broaden our LNG portfolio and support customers across both the Atlantic and Pacific basins. Read more of the Q4 highlights
Shell plc has let a contract to Subsea 7 SA for work on the Kaikias waterflood project in the US Gulf of Mexico. Subsea 7 S.A. announced the award of a sizeable1 contract by Shell for the Kaikias Waterflood project. The Kaikias field is a deepwater development in the Mars-Ursa Basin, approximately 210 kilometres off the Louisiana coast in the US. The scope of work includes the transportation and installation of a subsea umbilical, riser, and a rigid flowline in water depths of up to 1,650 metres. Project management and engineering activities will begin immediately from Subsea7’s Houston, Texas office, with offshore operations scheduled for 2027. Related News
The Board of Directors of Po Valley Energy Ltd announced the adoption of a dividend policy and their intention to pay a maiden dividend reflecting the Company’s strong operating cash flow generation and disciplined capital management.
Following continued strong cash flow generation from its Podere Maiar-1 production facility in the 2025
financial year, it is the Board’s intention to pay a maiden dividend for the financial year ending 31
December 2025. The dividend will be paid from free cash flows generated from its Podere Maiar-1
production well. The Company had positive cash flows from operations of €4.5 million (~AU$7.9 million )
for the year and held cash reserves of €2.4 million (~AU$4.3m) and €6m (AU$10.4m) in short term
investments.
The indicative details and timetable of the dividend are shown in the table below and may be subject to
change:
Dividend type: Maiden Final
Amount: 0.0431 AU-cents per ordinary share
Franking: Unfranked
Ex-dividend date: 16 March 2026
Record date: 17 March 2026
Payment date: 31 March 2026
Related News
OKEA ASA has been offered interests in three new production licences on the Norwegian continental shelf, of which one as operator, through the Awards in Pre-Defined Areas (APA) for 2025, covering mature areas. The awards further strengthen OKEA’s portfolio and ambitions of near-field exploration and high-impact opportunities. The company now holds interest in 21 exploration licences.
PL 1305 is awarded with OKEA as operator and is located on the Nordland Ridge north of the Draugen field and Mistral Discovery on the Halten Terrace in the Norwegian Sea. PL 1255 B and PL 1293 are awarded OKEA as partner and are located close to the Aurora Discovery in the Gjøa field in the North Sea.. Related News
Coterra Energy Inc. and Devon Energy Corp. are in advanced talks about a combination, according to people familiar with the matter, in what would be one of the largest oil and gas deals in years. The companies could announce a deal in the coming days, said the people, who asked to not be identified because the talks are private. No final decision has been made, and the timing could change or talks could fall through, the people added. Read More
Octopus Energy customers are being treated to another month of blockbuster perks – including a brand new chance to win tickets to see chart-topping superstar RAYE live. As part of Octopus’ loyalty programme, Octoplus, customers can enter a competition to win tickets to see the BRIT Award-winning singer, with premium seats provided by Seat Unique. The competition is open to Octoplus members aged 18+, with winners chosen at random. All a prospective watcher has to do is sign up to the draw in the Octoplus section of the Octopus Energy app by midnight on the 2nd February.
Then, on the 4th of February, when they get a call from us, they need to answer by singing their favourite RAYE lyrics. Singers who bring the energy will enjoy a pair of VIP tickets on the house. Related News
Subsea 7 S.A. announced the award to Seaway7, part of the Subsea7 Group, of a substantial1 contract by OWP Gennaker, part of Skyborn Renewables, for the Gennaker offshore wind farm in Germany.
Seaway7’s scope of work includes the transportation and installation of the 63 monopiles and transition pieces. Offshore activities are expected to commence in 2027. 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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