20 Dec Energy price,commentary & news update today, Ukraine’s operations have moved far beyond traditional front-line targets
London, December 20, 2025, (Oilandgaspress) –Takeover speculation is set to resume at BP as a ban on Shell bidding for its oil and gas rival ends on Boxing Day. BP remains a target despite last week dramatically hiring its first outsider as chief executive in its 116-year history as it seeks to fend off potential suitors and drop its ill-fated push on Net Zero.
NNPC Limited is providing an update on the incident reported on Thursday, 11th December 2025, on a section of the Escravos–Lagos Pipeline System (ELPS) in South West Warri, Delta State. Coordinated containment measures have been successfully executed, ensuring the safety of host communities, personnel, and the environment. All relevant pipeline sections have been safely and securely isolated.
A joint preliminary inspection involving NNPC Limited, the Nigeria Midstream & Downstream Petroleum Regulatory Authority (NMDPRA) technical teams, and maintenance contractors has been conducted at the affected site.
NNPC Gas Infrastructure Company (NGIC), the operator of the network, has activated its Business Continuity Plan to manage the impact on all affected stakeholders, including shippers and suppliers.
NNPC Ltd continues to maintain open communication with host communities, state authorities, and other critical stakeholders, and appreciates their sustained support and cooperation. The Company remains committed to the safety of its host communities, the protection of the environment, and the reliability of its operations across all assets. Related News
Repsol has been recognized with the Platts Global Energy Award for the deployment of NEXA fuels of 100% renewable origin in the Iberian Peninsula. The award, in the category of Excellence in Energy – Downstream, was presented at a gala in New York, thus consolidating the company’s leadership in the promotion of renewable fuels.
The Platts Awards are considered the most prestigious awards in the global energy sector, recognizing excellence in innovation, leadership and sustainability. The jury granted this award to Repsol for overcoming the dual challenge of supplying affordable and reliable energy while advancing decarbonization across its operations and products. Related News
Ukraine hits Russian vessel and Lukoil oil platform with drones in Caspian Sea. There is a significant shift in Ukraine’s strategy, moving from direct battlefield engagement to targeting the economic lifelines that sustain Russia’s war effort. By attacking energy infrastructure—including refineries, pipelines, terminals, tankers, and offshore platforms—Kyiv is aiming at the financial backbone of Moscow’s military operations.
Key points to note:
Strategic Targeting: Energy revenue, particularly from oil and gas, is critical forRepsol to fund its military campaigns. Strikes on these assets are meant to degrade Russia’s ability to sustain its operations over the long term.
Expanded Scope: Ukraine’s operations have moved far beyond traditional front-line targets. The recent long-range drone strike in the Caspian Sea against an offshore platform demonstrates both reach and precision, signaling that even distant infrastructure is now at risk.
Psychological and Economic Impact: Targeting energy infrastructure does more than reduce revenue; it can create uncertainty in global energy markets, strain Russia’s domestic energy supply, and erode confidence in Moscow’s ability to protect strategic assets.
Doctrine Shift: This represents a broader “economic warfare” doctrine, where the battlefield is no longer limited to territory and troops, but extends to the financial and infrastructural nodes that sustain a country’s war effort.
Essentially, Ukraine is leveraging asymmetric tactics: it may not be able to confront Russia head-on militarily in every domain, but it can strike where Russia is most vulnerable economically.
Ukraine has publicly acknowledged attacks on Russian shadow fleet oil tankers for the first time, reporting that four vessels were struck by drones in the Black and Mediterranean Seas, reports The New York Times. Three vessels were hit by maritime drones in the Black Sea, and one was struck by aerial drones in the Mediterranean Sea, over 1,200 miles from Ukraine.
The Security Service of Ukraine (SBU) confirmed that all targeted tankers were en route to Russian ports, including Novorossiysk, Russia’s largest oil hub on the Black Sea, to load oil. At the time of the attacks, the vessels were empty.
Baker Hughes Rig Count: International +14 to 1,073, U.S. -6 to 542 Canada -7 to 185
U.S. Rig Count is down 6 from last week to 542 with oil rigs down 8 to 406, gas rigs unchanged at 127 and miscellaneous rigs up 2 to 9.
Canada Rig Count is down 7 from last week to 185, with oil rigs down 4 to 119, gas rigs down 3 to 66 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 19, 2025 | 542 | -6 |
| Canada | December 19, 2025 | 185 | -7 |
| International | November 2025 | 1073 | +14 |
Baker Hughes |
Russia is heading into 2026 with a familiar problem wearing a sharper edge: the oil revenues that bankroll its budget — and its war — are shrinking fast.
According to Reuters calculations released Friday, Russia’s tax proceeds from crude oil production in January could fall to about 380 billion roubles ($4.7 billion), the lowest monthly take since late 2022. That would mark a 16% drop from December and a collapse of more than 50% compared with January last year. For a government that still leans heavily on oil income to fund military spending and social obligations, the timing is awkward. 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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