01 Jul Latest Oil prices, news and commentary 01 July 2026
(Oilandgaspress) Crude oil prices ended the second quarter of the year with the steepest decline since 2020, with Brent shedding close to 40% on optimism about a peace deal between the United States and Iran. On Tuesday, Iranian officials said they would not meet with U.S. envoys Jared Kushner and Steve Witkoff in Doha to discuss any peace deal. No meeting at any level with the American side has been scheduled for the coming days,” Iranian foreign ministry spokesman Esmaeil Baghaei said.. Related News
All Nippon Airways and Japan Airlines will raise fuel surcharges on international flights to a record high for July and August. The surcharges during these two months are based on average prices of Singapore kerosene, the Asian benchmark for aviation fuel, and the yen-dollar exchange rate for the April-May period.
Both ANA and JAL are applying a 65,000-yen ($400) surcharge for flights to Europe, more than double the amount collected by the airlines in April. Surcharges for flights to Hawaii have nearly doubled from April to 40,400 yen for both carriers. Related News
The Board of Po Valley Energy Limited announced the agreement of the extension of Mr Kevin Bailey’s employment as Chief Executive Officer and Executive Chair for a further twelve months with effect from 1 July 2026. This follows the Company’s previous announcement made on 4 July 2025, relating to Mr. Bailey’s appointment as Chief Executive Officer and Executive Chair on a 12-month fixed term contract. With the exception of the contract term extension of 12 months, the remaining key terms of the employment agreement are consistent with those described in the 4 July 2025 announcement and are summarized in Annexure A to this ASX announcement, in accordance with ASX Listing Rule 3.16.4.
Kevin’s leadership through this transitional time for PVE has been valuable as the Company progresses
through the next phase of operational activity and growth. The Board is fully committed to supporting
the Company through all stages of its development and ensuring the right leadership is in place to guide
its strategic priorities. Related News
Qair joined French President Emmanuel Macron’s official visit to Montenegro and announces that the Montenegrin government has committed to supporting the inclusion of its renewable energy projects in the France-Montenegro Intergovernmental Agreement, following a commitment from Montenegrin Prime Minister Milojko Spajić in the presence of French President Emmanuel Macron. The commitment, made ahead the EU-Western Balkans Summit in Tivat, positions Qair as a state-endorsed partner in Europe’s energy transition.
The Agreement between the French Republic and Montenegro (signed 5 September 2025) aims to accelerate Montenegro’s EU accession by 2028 and foster bilateral business cooperation. Qair’s inclusion would reflect its proven track record as a partner to governments and institutions, with 1.7 GW in operation and a 30 GW pipeline across 20 countries.
Louis Latournerie, Qair’s representative, outlined the company’s 250 MW portfolio which have secured urban planning and technical approvals, to President Macron and PM Spajić. Montenegro Prime Minister Milojko Spajić praised Qair’s commitment to the country and expressed his support for the inclusion of these projects in the Agreement. Related News
Qair International has signed a strategic partnership agreement with Chinese engineering outfit Wison New Energies to co-develop offshore floating wind projects in Europe. Wison New Energies said the agreement will focus on climate-resilient floating wind solutions for challenging marine environments including the North Sea and Mediterranean Sea.
Qair International added that the partnership combines its project development, financing, construction management and operations expertise with Wison New Energies’ EPCIC and O&M capabilities. The companies will jointly evaluate project opportunities, streamline timelines in deep waters and support the commercialisation of floating wind solutions. Related News
Ignitis Renewables has reached another major milestone in the development of the Curonian Nord offshore wind farm. The Environmental Protection Agency has issued a positive decision on the project’s environmental impact, confirming that the project can be implemented, provided the mitigation measures set out in the decision are followed.
The Environmental Impact Assessment (EIA) report was prepared in accordance with the legislation of the Republic of Lithuania and international standards. It is aimed at evaluating a potential impact on marine ecosystem, biodiversity, landscape, fishery, public health and other environmental and social factors. Throughout the EIA process, the team carried out extensive environmental studies, engaged with local communities and stakeholders and worked closely with authorities to ensure the project meets both national and international environmental requirements.
The decision sets out a comprehensive package of mitigation measures and conditions, which are based on the impact reduction measures assessed and developed during the EIA process. These measures will help reduce potential impacts on biodiversity and marine ecosystems during the construction and operation of the wind farm while ensuring long-term environmental monitoring and the application of adaptive management principles.
Curonian Nord wind farm will cover an area of about 120 square kilometres in the Baltic Sea and will be positioned least 37 km away from the Lithuanian coast. It is estimated that the 700-megawatt (MW) wind farm could generate around 3 terawatt-hours (TWh) of green electricity per year. Related News
During the period from 22 to 26 June 2026, Eni acquired on the Euronext Milan no. 4,765,108 shares (equal to 0.16% of the share capital), at a weighted average price per share equal to 20.9859 euro, for a total consideration of 99,999,965.00 euro, within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 6 May 2026, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends, resolved by the same Shareholders’ Meeting. From the start on 8 May 2026 of the buyback program, Eni acquired no. 24,793,590 shares (equal to 0.82% of the share capital) for a total consideration of 559,916,415.61 euro.
Considering the treasury shares already held and the purchases made, Eni holds n. 111,621,697 shares equal to 3.69% of the share capital. Related News
LONGi has signed a Memorandum of Understanding (MoU) with ARaymond to explore technical collaboration on photovoltaic and battery energy storage systems. The agreement establishes a framework for technical assessments and system design discussions that combine LONGi’s expertise in high-efficiency photovoltaic modules and battery energy storage systems (BESS) with ARaymond’s capabilities in fastening, grounding, and cable management.
The Memorandum of Understanding was signed on 24 June in Munich by Alex Li, General Manager Western Europe (DG) at LONGi Solar, and Wilson Chu, Director of the Energies Global Strategic Business Unit at ARaymond, together with representatives from both companies. Related News
LONGi introduced the LONGi BLOCK solar system at Intersolar Europe. This product provides a complete container solution for off grid enterprise applications. The system bypasses lengthy land approval processes and delivers immediate green power to remote locations. The mobile station supports continuous electricity supply for remote mines, military bases, industrial parks and temporary construction projects. The mechanical design allows rapid deployment without complex foundations or specialized tools. A crew of six people removes the locking pins and initiates the sequential extension with a single button press. The 20HC container requires three hours for full deployment. The larger 40HQP container requires four hours to expand completely. The site installation requires specific ground conditions. The horizontal height difference across three modules must remain under three centimeters. The total vertical gradient across the full length must remain under 30 centimeters. The mechanical hinges support one deployment and closure cycle per month over a fifteen-year system lifespan. Related News
LONGi Solar officially unveiled its revolutionary LONGi ONE full-stack battery energy storage system (BESS) portfolio at Intersolar Europe 2026. Moving beyond the industry’s historical reliance on fragmented, multi-vendor components, LONGi is introducing a fully integrated, natively engineered solar-plus-storage architecture.
As rapid renewable energy deployment pushes global grid infrastructures to their limits, combining solar generation with energy storage has evolved from an optional configuration into an absolute operational necessity. Standalone solar assets increasingly face grid congestion, severe price cannibalization during peak production hours, and strict generation caps. Historically, developers attempting to mitigate these issues have been forced to piece together hardware and software from separate suppliers. This disjointed approach creates systemic efficiency bottlenecks, complex delivery cycles, and a multi-vendor accountability nightmare when technical failures occur. Related News
LONGi Solar Europe has officially signed a landmark module supply agreement with FARIA RENEWABLES, a leading vertical energy investment company and Independent Power Provider (IPP). Under the terms of the agreement, LONGi supplied a total of 81.66 MW of its cutting-edge, high-efficiency Hi-MO 9 solar modules to power two major utility-scale, ground-mounted photovoltaic (PV) projects in the Thessaly region of Greece: the 45.51 MW “Athamas” project in Almyros and the 36.15 MW “Mykonos” project in Farsala. This strategic agreement marks a significant milestone in Southern Europe’s clean energy transition. The high-performance installations will feature LONGi’s advanced Back Contact (BC) technology, engineered specifically to optimize energy yields in high-irradiance environments while dramatically reducing the Levelized Cost of Energy (LCOE). Related News
| Oil and Gas Blends | Units | Oil Price | Notes |
| Crude Oil (WTI) Oilprice | US$/bbl | $68.51 | Down |
| Crude Oil (Brent) | US$/bbl | $71.90 | Down |
| Bonny Light 30/06/26 CBN | US$/bbl | $73.39 | Up |
| Dubai | US$/bbl | $79.52 | — |
| Natural Gas | US$/MMBtu | $3.23 | Down |
| Murban | US$/bbl | $65.58 | Down |
| OPEC basket 30/06/26 OPEC | US$/bbl | $76.87 | Down |
| At press time July 01, 2026 |
Savannah Energy PLC announced the appointment of Uyi Akpata as a Non-Executive Director with immediate effect. Following publication of the FY 2025 annual accounts, and after period of handover, it is intended that Mr Akpata will be appointed as Chair of the Audit and Risk Committee.
Commenting on the appointment, Joseph Pagop Noupoué, Non-Executive Chair of Savannah, said:
“We are pleased to welcome Uyi to the Savannah Board as a Non-Executive Director. Uyi brings extensive experience in audit, risk management, corporate governance and the energy sector, gained over a distinguished career spanning more than 40 years. His leadership roles at PwC, including as Senior Partner for Nigeria and Regional Senior Partner for West Africa, together with his deep knowledge of the African energy industry, make him an excellent addition to the Board. We look forward to benefiting from his expertise as Savannah continues to expand its operations across Africa, execute its growth strategy and deliver long-term value for shareholders.” Related News
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