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(World Oil) – Tullow Oil Plc sank to a record low, with trading of the shares briefly halted in London, after the company said it’s contemplating alternatives to refinance its looming debt maturities. The stock plunged as much as 35% to 5.55 pence, the lowest since trading began in 1989, over fears that a potential debt deal could hurt shareholders. Tullow’s bonds maturing next May dropped 7 cents to around 79 cents on the dollar, according to data complied by Bloomberg. Tullow became one of the UK’s hottest independent oil explorers after making several major African discoveries in the late 2000s.…
WASHINGTON—President Trump today issued an Executive Order to launch the Genesis Mission, a historic national effort led by the Department of Energy. The Genesis Mission will transform American science and innovation through the power of artificial intelligence (AI), strengthening the nation’s technological leadership and global competitiveness. The ambitious mission will harness the current AI and advanced computing revolution to double the productivity and impact of American science and engineering within a decade. It will deliver decisive breakthroughs to secure American energy dominance, accelerate scientific discovery, and strengthen national security. “Throughout history, from the Manhattan Project to the Apollo mission, our nation’s brightest…
(World Oil) – ADNOC will maintain its investments at $150 billion over the next five years as it targets growth in production capacity at home and expands internationally. The company’s board approved the spending plan that’s in line with the previous layout that was announced three years ago. Since then, Abu Dhabi’s biggest oil producer has carved out an international investment business called XRG that is scouring the globe for deals. XRG has boosted its enterprise value to $151 billion from $80 billion since it was set up about a year ago, ADNOC said in a statement. The unit, which this…
The consequence is unmistakable: Gold set 42 fresh all-time highs in 2025, forcing late-moving institutions to chase an accelerating market – the classic signature of a developing Supercycle. Silver: The Under-Owned, Under-Priced Accelerator of The Cycle If Gold is the headline, Silver is the understudied catalyst preparing the next major shock to the upside. Despite being essential to modern technological infrastructure – from AI hardware and EV battery assemblies to next-generation solar grids, semiconductor fabrication and high-density data-centre systems – Silver continues to trade at levels far below its fundamental value. Its supply picture is even tighter. Mine output has…
Oil pushed higher as equities rose and traders weighed the prospect of a Ukraine-Russia peace deal that could deflate political risk from an already well-supplied market. West Texas Intermediate rose about 1.3% to settle near $59 per barrel, snapping a three day losing streak as crude ticks up following its biggest weekly loss since early October. While oil followed other risk assets higher, traders awaited further news after Ukraine and its European allies signaled that key sticking points remained in US-brokered peace talks to end Russia’s invasion, even as senior officials hailed progress in winning more favorable terms for Kyiv.…
Serbian authorities have reassured citizens that the country has sufficient fuel reserves to supply the domestic market, with the fate of the country’s only refinery, Naftna Industrija Srbije (NIS), hanging in the balance.”The economy and citizens have no reason for concern, as there are sufficient quantities of all petroleum derivatives,” the government statement said, with Energy Minister Dubravka Djedovic Handanovic saying the government is ready to use mandatory reserves if need be. Russia’s Gazprom Neft and Gazprom affiliates are the majority owners of NIS, with the Serbian government owning a minority 29.9% stake.Last week, NIS submitted a request to the…
(Oil Price) – The G-20 is tiptoeing around China with a sledgehammer. In a draft declaration seen by Bloomberg, leaders called for shielding the global critical-minerals value chain from “unilateral trade measures inconsistent with WTO rules”—a diplomatic way of saying: everyone noticed what China did this year. Beijing’s licensing chokehold on dysprosium, terbium, and other heavy rare earths rattled supply chains from missile makers to EV plants, and the repercussions are still rolling through the system. Over the past six months, the U.S. and its allies have sprinted to stitch together mine-to-magnet supply chains outside Chinese control. Washington is taking minority stakes in North…
(WO) – Diversified Energy has completed its previously announced acquisition of privately held Canvas Energy, adding a sizeable operated position in central Oklahoma and increasing the company’s daily production by roughly 13%. The $550 million deal includes operated producing assets and approximately 1.6 million net acres across the state. Diversified said the assets currently produce about 24 MMboed and include an inventory of development locations alongside proved reserves of roughly 200 MMboe with a PV-10 value of about $690 million. To finance the transaction, Diversified closed a $400 million asset-backed securitization (ABS XI) structured through a master trust…
Nigeria’s state oil company, the Nigerian National Petroleum Company (NNPC), has reported it posted a net profit of 5.4 trillion naira ($3.6 billion) in 2024, good for a 64% jump from a year earlier as the pivotal industry continues to make a comeback.“The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Bashir Bayo Ojulari, NNPC Group Chief Executive, told analysts.Nigeria has been struggling to meet its OPEC+ quota in recent years, thanks to years of underinvestment coupled with rampant theft and pipeline vandalism. Africa’s largest oil producer saw crude output average ~1.5…
(BOE Report) – NextDecade Corp said on Monday it has started the U.S. regulatory pre-filing process to add a sixth liquefaction unit and an extra marine berth at its Rio Grande liquefied natural gas project in Texas, with a full application expected in 2026. The U.S. LNG sector has been rapidly expanding after President Donald Trump lifted the moratorium on new export permits shortly after taking office in January. “With five trains already under construction and room to double capacity, we are focused on the next phase of growth,” CEO Matt Schatzman said. NextDecade expects to complete the first liquefaction…