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Oil prices rallied aggressively on Tuesday morning, recovering from the OPEC+-induced drop that was sparked by the cartel’s decision to unwind production cuts at a faster rate than previously planned. Despite the recovery, uncertainty remains in markets and more volatility is likely.- Oil majors have been surprisingly inert in reacting to oil prices declining by more than $10 per barrel since early April, preferring to wait out the resolution of the U.S.-China trade war before cutting expenditures.- Posting a net profit of $7.7 billion, down 7% from a year ago, oil major ExxonMobil (NYSE:XOM) maintained its capital expenditure guidance at…

Oil prices staged a robust comeback on Tuesday, clawing back ground lost after OPEC’s surprise weekend announcement to boost production quotas by more than expected.WTI surged more than 4% on the day, trading above $59, while Brent gained 3.7%, reaching well above $62. The bounce comes after a bruising April that saw prices crater under the weight of U.S. tariffs and OPEC+ confusion.OPEC’s weekend move to raise quotas—reportedly by triple what most expected—initially sent prices tumbling. But the fine print matters. Chronic overproducers like Iraq and Nigeria are already pumping over quota, so the new targets mostly legalize the status…

BW Energy has reached final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 bopd. The development will more than double BW Energy’s total net production by 2028 and has short pay-back time.     “We have spent time on optimizing the Maromba development plan and concluded on a highly competitive concept with a…

Brent Technical Analysis The Brent market is currently hanging around the $60 level. And as you can see, the $60 level, of course, being a large, round, psychologically significant figure, will attract a lot of attention. And with that being said, I think we are in the process of trying to form some type of bottom here. Keep in mind that there is a lot of supply out there waiting to get taken out. So, I think it is going to take some type of significant momentum, some type of significant announcement, something to that effect, to truly get the…

Venture Global Inc. has secured $3 billion in syndicated borrowings to help fund the under-construction CP2 LNG in Cameron Parish, Louisiana. “This new capital, on top of the more than $4 billion we have already invested to date, will enable continued fabrication, manufacturing and procurement at an accelerated pace, similar to Plaquemines”, Venture Global chief executive Mike Sabel said in an online statement. Sabel was referring to another Venture Global liquefied natural gas (LNG) project in Louisiana that dispatched its first cargo about two years earlier than the normal Energy Department timeframe. In March the Department of Energy (DOE) granted…

Commonwealth LNG has roped in an unnamed “major” Asian customer with the signing of a deal for the supply of 1 million metric tons per annum for 20 years. “This offtake agreement marks another important milestone for Commonwealth as we work toward a final investment later this year and first offtake planned for 2029”, Ben Dell, managing partner of project owner Kimmeridge, said in an online statement. “We look forward to working with this Buyer, a longstanding leader in LNG, as we further our integrated wellhead-to-water strategy in delivering LNG to critical markets around the world”. “This Buyer is one…

Golar LNG Ltd. and its partners in the Southern Energy project have reached a positive FID (final investment decision) and fulfilled the conditions precedent for the 20-year redeployment of FLNG Hilli, the first of two vessels for the Argentine natural gas export project. The floating liquefied natural gas (LNG) facility, fully acquired by Golar last year, will be chartered to the project consortium, Southern Energy SA (SESA), under a contract that is expected to start up 2027. Hilli began operation 2018 and has been deployed in Cameroon for Perenco SA under a contract that expires July 2026. Concurrently the Southern…

General Fusion has successfully demonstrated core capabilities of its LM26 fusion machine, marking a major technical achievement. Despite raising over $340M to date, the company is now seeking an additional $125M due to global economic and geopolitical pressures. Workforce reduction and operational downsizing have been implemented to preserve resources as the company courts strategic investors. General Fusion, a Canadian fusion energy pioneer backed by Jeff Bezos, is urgently seeking $125 million in fresh funding to complete its LM26 demonstration machine—one of the most advanced private fusion systems globally. Despite raising over $340 million through a combination of government grants and…

Targeting 7M tons of waste: The collaboration addresses the recycling of films and flexibles—7 million tons of which are landfilled annually in the U.S., with less than 5% currently recycled. AI-powered precision: Google’s molecular vision tech, backed by AI and machine learning, enables rapid, accurate identification of complex plastic packaging at industrial scale. Proof of concept achieved: Dow’s materials expertise has helped validate the system’s ability to identify and predict the molecular makeup of multi-material packaging. Dow and X, Google’s innovation lab known as the Moonshot Factory, have joined forces to tackle one of the largest barriers to plastics circularity:…

IKEA announced that the Inter IKEA Group has appointed Lena Julle as its Chief Sustainability Officer, taking over from outgoing CSO Pär Stenmark, who the company said will stay with the company. Inter IKEA Group is the group of companies that connects IKEA franchisees with range development and suppliers, and is responsible for aligning the overall IKEA strategic direction. Julle has been with IKEA for over 30 years, and has been serving as Acting CSO since September 2024, and as Sustainability Manager IKEA Of Sweden since 2021. The company said that in her new role, she will continue to lead…