01 Apr Oil Prices news updates and expert commentary 01/04/26
(Oilandgaspress) Oil slightly reversed earlier gains as uncertainty over the situation in the Middle East continues to unnerve markets. U.S. President Donald Trump again implied the U.S.-Israeli war with Iran could be nearing an end.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $99.92 | Down |
| Crude Oil (Brent) | USD/bbl | $102.80 | Down |
| Bonny Light 31/03/26 CBN | USD/bbl | $131.30 | Up |
| Dubai | USD/bbl | $128.52 | Up |
| Natural Gas | USD/MMBtu | $2.85 | Up |
| Murban | USD/bbl | $105.10 | Down |
| OPEC basket 31/03/26 OPEC | USD/bbl | $123.21 | Up |
| At press time April 01, 2026 |
Chairman of Renaissance Africa Energy Company Limited, Dr. Layi Fatona, has been awarded the 2026 Nigerian Mining and Geosciences Society (NMGS) highest honour, the NMGS/Shell Award, at the Society’s just concluded 61st Annual International Conference in Uyo, Akwa Ibom State. Also honoured at the event is Renaissance’s Vice President for Exploration, Johnbosco Uche who received the 2026 NMGS/Durotoye/COMEG Award. In his acceptance speech, Fatona called for tighter regulation of Nigeria’s mining and energy sectors, warning against the proliferation of unqualified practitioners and the risks of weak enforcement, environmental neglect, and short-term opportunism.
“We are living in extraordinary times with the global energy transition accelerating and critical minerals becoming strategic assets,” Fatona said. “Nigeria must not be a spectator. We must be a strategic player, and that requires competence, discipline and professional integrity.”
He urged the industry to restore what he termed “professional sovereignty,” where trained experts lead practice and institutions enforce standards. “Capital must partner with competence — not replace it,” he added.. Related News
Amid persistent volatility in global energy markets, the Chairman of Renaissance Africa Energy Company Limited, Dr Layi Fatona, has urged the Nigerian government and corporate leaders to strengthen national and corporate resilience by diversifying across oil, gas and mineral resources.
Speaking at the 61st Annual International Conference and Exhibition of the Nigerian Mining and Geosciences Society (NMGS) in Uyo, Akwa Ibom State, Fatona, whose remarks were delivered on his behalf by Renaissance Vice-President for Exploration, Johnbosco Uche, warned that Nigeria must prepare for commodity cycles, shifting energy geopolitics, and rising security risks. “Infrastructure must be designed to withstand economic, environmental and security shocks,” he said, aligning his message with the conference’s theme: “Optimising Efficiency, Sustainability and Resilience in Resource Management and Infrastructure Development.” According to Fatona, the conference theme reflects both Nigeria’s current predicament and the future it must build in the context of an accelerating global energy transition.
Fatona argued that improving efficiency across the entire resource value chain, from exploration and development to production and market access, remains essential. He called for eliminating redundancies, reducing cycle times, and improving recovery rates. “Data‑driven decision‑making is central to unlocking efficiency gains,” he noted, Related News
The search is on for people, teams, and companies who have gone the extra mile to ensure safety and wellbeing remains at the forefront of UK energy operations as nominations for the 2026 Energy Safety Awards open.
The annual awards event, jointly organised by Offshore Energies UK and Step Change in Safety, celebrates safety leadership, culture and performance across the energy sector. Formerly known as the Offshore Safety Awards, the updated name reflects the evolving energy landscape and ensures the awards remain relevant, inclusive and future focused, while keeping safety firmly at the heart of the event. They spotlight the excellent work being done to promote safety, support wellbeing and drive improvements in safety performance and they take place on August 20, at Aberdeen’s P&J Live. Nominations open for the awards open on March 31. The deadline for submissions is May 1 Related News
A truck has been charged at the fastest rate ever seen in the UK In just 42 minutes, Windrose Technology’s E700 electric HGV took on 352kWh of charge delivering more than 250 miles of range and setting a new benchmark. The session hit 600kW using Voltempo’s megawatt-scale HyperCharger at 745 amps, marking one of the fastest charging events seen on UK roads.
Wen Han, CEO and Founder of Windrose, said: “745 amps on the Voltempo Hypercharger. A UK record. This proves electric HGVs are no longer theoretical. They are operational, credible, and scaling – fast.”
The significance is not just speed, it is utilisation. Faster charging means trucks spend less time idle and more time moving, which is critical for long-haul logistics. Related News
The Annual General Meeting of Shareholders (the “AGM”) of Orrön Energy AB was held as a digital meeting today, 1 April 2026. The Company’s and the Group’s income statements and balance sheets for the financial year 2025, were adopted and the members of the Board of Directors and the Chief Executive Officer were discharged from liability for the financial year 2025. The AGM resolved that no dividends should be paid for the financial year 2025 and that the distributable reserves are brought forward.
The AGM resolved to approve the Remuneration Report prepared by the Board of Directors.
The AGM resolved to remunerate the members of the Board of Directors as follows: (i) annual fees of the members of the Board of Directors of EUR 60,000 (excluding the Chair of the Board of Directors); (ii) annual fees of the Chair of the Board of Directors of EUR 120,000; (iii) annual fees for Committee members of EUR 5,000 per Committee assignment (excluding the Committee Chairs); and (iv) annual fees for Committee Chairs of EUR 10,000; with the total fees for Committee work (including fees for Chairs of Committees), not to exceed EUR 50,000.
Grace Reksten Skaugen, Jakob Thomasen, Peggy Bruzelius, William Lundin, Mike Nicholson and Richard Ollerhead were re-elected as members of the Board of Directors for a period until the end of the 2027 AGM. Grace Reksten Skaugen was re-elected as Chair of the Board of Directors.
The AGM resolved that auditor’s fees shall be paid upon approval of their invoice. Ernst & Young AB was re-elected as the auditor of the Company for a period until the end of the 2027 AGM.
Further, the AGM resolved, in accordance with the Board of Directors’ proposals: Related News
Germany has received its first-ever liquefied natural gas deliveries from Oman, even as war in the Middle East chokes global supply routes — but a deeper look at the country’s gas supply chain suggests Berlin may be more exposed to the crisis than official figures let on. The shipments, delivered under a four-year contract signed in 2023 between Oman’s state LNG producer and German gas importer Securing Energy for Europe (SEFE), began as planned this month, a SEFE spokesperson reportedly told the German Capital magazine.Related News
Britain’s gas networks have published their innovation strategy for the next two years, outlining how the sector will support an equitable transition to a low carbon energy system with resilience at its heart. The strategy has been developed with input from more than 130 stakeholders across industry, government and academia, and covers the first two years of the RIIO-3 price control period, spanning 2026 – 2028.
The strategy is centred around five core innovation themes, which set out the industry’s key priorities. These themes are:
• Reducing our environmental footprint: Accelerating efforts to cut emissions, tackle gas leakage and ramp up low-carbon technologies.
• Digital by default: Embedding advanced data, artificial intelligence and digital tools such as digital twins to improve decision-making, efficiency and network resilience.
• Whole system pathways: Strengthening coordination across gas, electricity and emerging energy systems to support integrated, long-term planning.
• Equitable energy for everyone: Ensuring vulnerable customers are protected and supported throughout the energy transition.
• Flexible and seamless connections: Enabling the growth of green gases such as biomethane and hydrogen.
Against the backdrop of a changing energy landscape, the strategy outlines the principles that will enable networks to meet the twin challenges of accelerating decarbonisation and strengthening energy security, flexibility and resilience. The strategy stresses the importance of collaboration across the energy sector, with strong partnership working between networks regulators, technology providers and other infrastructure operators essential to accelerate innovation and minimise duplication.
Commenting, Nolan Robertson, Senior Manager at Future Energy Networks said: “During a period of profound change for Britain’s energy system, this strategy sets out a clear and coordinated plan for how gas networks will harness cutting-edge innovation over the next couple of years. “By focusing on five key innovation themes – from reducing emissions and embracing digitalisation to supporting vulnerable customers – we show how innovation can help keep homes warm, lights on, and industry powered, all while accelerating the transition to a decarbonised future.” Read More
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