Comprehensive daily summaries of the most important energy news. Curated by our editorial team and enhanced with AI analysis.
The Kremlin reported that Cuba's fuel situation is critical, prompting the island to implement a fuel rationing plan. U.S. sanctions are cited as a significant factor contributing to the crisis, with Russia expressing its intention to continue supplying oil to Cuba despite the difficulties. The situation has raised concerns about potential impacts on essential services and tourism.
U.S. President Donald Trump expressed support for Chinese investment in Venezuela's oil industry as the country seeks to revive its economy. Venezuela, which has the world's largest proven oil reserves, recently reformed laws to attract private and foreign investment. Trump noted that Venezuela's Interim President agreed to an energy cooperation deal with India, while also welcoming China's involvement in purchasing Venezuelan oil.
Petrobras plans to invest $7.1 billion in upstream exploration, with approximately one-third allocated to the Equatorial Margin region. This investment is part of the company's strategy to enhance its exploration activities in new frontier areas.
TotalEnergies and Petrobras have signed a deal to take control of acreage in the Luderitz basin in Namibia. This partnership marks a significant move into frontier exploration for both companies.
Chevron has signed an exploration deal with Syria, following the Syrian government's control of oil-producing areas in January. This agreement marks a significant step in Chevron's operations in the region.
QatarEnergy is set to announce a long-term supply agreement with Jera Co., Inc. to supply approximately 3 million tons of LNG per year. This deal would nearly double Qatar's LNG supply to Japan, which was around 3.3 million tons in 2025. The agreement aims to reclaim market share lost over the past decade as Japan resumes nuclear power and diversifies its LNG sources.
Devon Energy and Coterra Energy have announced a merger that will create the largest independent shale producer in the U.S. This merger is based on the combined onshore oil and gas output of both companies in the lower 48 states.
Texas' environmental regulator issued the largest air pollution permit for the 7.65 GW GW Ranch gas power complex in Pecos County. This project is part of a larger trend, with nearly 58 GW of gas power projects in development in Texas, primarily to support data centers. The GW Ranch is authorized to emit over 12,000 tons of regulated pollutants and up to 33 million tons of greenhouse gases annually.
McDermott has commenced installation work for a deepwater project valued at over $5 billion, involving multiple lifts of more than 8000 tonnes of offshore structures.
The US Treasury Department grants a general license allowing limited sanctions relief for oil-related transactions with Venezuela and PDVSA. This decision follows the ousting of President Nicolas Maduro on January 3, indicating a shift in US policy towards Venezuela's oil sector.
Mozambique President Daniel Chapo and TotalEnergies CEO Patrick Pouyanne visited the Afungi construction site to mark the re-launch of the Mozambique LNG project. This event signifies a renewed commitment to the development of the LNG sector in Mozambique.
Lukoil has reached a preliminary agreement to sell its international assets to Carlyle. The agreement is not exclusive and is contingent upon approval from U.S. authorities.
Data center projects are increasingly delayed due to power availability issues, with many unable to secure grid access and long-term pricing. Bitzero has secured over 1 GW of low-cost power to support its operations, positioning itself advantageously amid rising demand for AI infrastructure. The interconnection process for new projects is lengthy and often results in withdrawn requests due to grid limitations.
President Trump has initiated a process to potentially reopen offshore oil and gas leasing off California, marking the first step in decades. The Bureau of Ocean Energy Management issued Calls for Information and Nominations for areas in Southern and Central California, inviting public feedback. This move faces strong opposition from California officials who warn of legal challenges and environmental risks.
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