22 Dec Energy price,commentary & news update/ Venezuela-linked tankers more targeted than other sanctioned ships
London, December 22, 2025, (Oilandgaspress) –Oil prices rose after Donald Trump intensified a blockade on Venezuela, with U.S. forces boarding one tanker and pursuing another just weeks after seizing a vessel. Venezuela condemned the latest boarding on Saturday.
CNOOC Limited today announced that Xijiang Oilfields 24 Block Development Project has commenced production. The project is located in the shallow water of the Pearl River Mouth Basin. The development of the project mainly leverages the adjacent existing facilities of the Huixi Oilfields, with addition of a new unmanned wellhead platform. 10 development wells are planned to be commissioned. The project is expected to achieve a plateau production of approximately 18,000 barrels of oil equivalent per day in 2026. The oil property is light crude.
The new Xijiang 24-7 platform is China’s first unmanned offshore platform for high-temperature fluid cooling and export. The temperature control system reduces the impact of high temperatures on subsea pipelines, thereby ensuring stable and continuous production. Related News
The Niigata prefecture parliament reportedly voted to restart Japan’s largest nuclear power plant, Kashiwasaki-Kariwa, fourteen years after the Fukushima nuclear disaster that saw the country shut down 54 reactors.
The regional vote is the latest step in a long process to revive nuclear energy in resource-poor Japan to reduce its dependence on energy imports, despite public opposition in the Niigata prefecture. The plant will be operated by Tokyo Electric Power Co., which was also the operator of the Fukushima nuclear power plant. Related News
Oil prices have been edging up slightly due to geopolitical tensions, including reports of a U.S. interception of an oil tanker near Venezuela. This has supported price gains despite broader surplus concerns.
| Crude Oil (WTI) Oilprice | USD/bbl | $57.10 | Up |
| Crude Oil (Brent) | USD/bbl | $61.07 | Up |
| Bonny Light 12/12/25 CBN | USD/bbl | $63.37 | — |
| Dubai | USD/bbl | $61.41 | — |
| Natural Gas | USD/MMBtu | $4.08 | Up |
| Murban | USD/bbl | $62.61 | Up |
| OPEC basket 18/12/25 OPEC | USD/bbl | $60.06 | — |
| At press time December 22, 2025 . |
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