Energy News
Brent and WTI crude prices, the natural gas market, OPEC decisions, electricity and renewable energy sector news as it happens.
Brent and WTI crude prices, the natural gas market, OPEC decisions, electricity and renewable energy sector news as it happens.
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India's near-doubling of new coal mine proposals in 2025 was the main factor behind an 11% increase in global planned coal production capacity, reaching 2.5 billion tonnes per year, despite plateauing global demand and a slowdown in new mine openings.
Birchcliff Energy Ltd. reported robust financial and operational performance for the second quarter of 2026. The company raised its 2026 production guidance and further diversified its natural gas marketing portfolio by adding the Malin hub.
Great Britain faces a potential electricity supply squeeze this evening due to a partial solar eclipse coinciding with the fifth heatwave of the summer. The National Energy System Operator (NESO) issued an "electricity margin notice" amid a significant drop in solar power generation and surging demand. This situation has led to rising electricity market prices and calls for consumers to defer energy-intensive activities.
Vestas Wind Systems reported robust second-quarter earnings and improved profitability, leading the company to raise its full-year margin guidance. This strong performance triggered a significant jump in the company's shares.
The UK government has unveiled the first sites for its 'Bill Discount Scheme,' offering an annual £250 electricity bill reduction to households living near new or upgraded electricity pylons. Eligible homes could save up to £2,500 over 10 years, with payments set to commence in the first half of 2027. This initiative aims to foster local support for critical energy grid upgrades.
Diminishing oil stockpiles held by China's independent refiners in Shandong province could stimulate demand for Iranian crude. This development may provide a significant boost for Tehran following a period of sluggish sales.
Mexican President Sheinbaum explores shale gas to curb U.S. import reliance. New tech and strict environmental rules are proposed for fracking in specific basins to protect freshwater.
Great Britain's National Energy System Operator (Neso) has been granted new powers to implement emergency rolling blackouts with short notice to prevent widespread system collapse when energy supplies run low. These new rules mean millions of households could face rotating power cuts without extensive prior warning. The changes come into effect this week, enabling the system operator to intervene more swiftly to stabilize the grid.
UAE energy giant Adnoc Gas announced an investment exceeding $8 billion to significantly expand its production capacity. This strategic move follows the country's exit from OPEC earlier this year, freeing it from cartel restrictions, and is accompanied by a raised 2030 EBITDA target of over $12 billion, marking a major post-OPEC energy initiative.
Iran announced that a deal with Oman defining new shipping lanes in the Strait of Hormuz is in its final stages. However, Tehran insists the waterway will only reopen if the US fulfills 'other conditions,' including compensation and lifting sanctions.
A fire at Saudi Arabia's Jazan oil refinery was extinguished Sunday morning with no casualties. Yemen's Houthi rebels claimed responsibility for the attack, sparking a fresh wave of tension in global energy markets.
Yemen's Iran-aligned Houthis attacked Saudi Aramco's Jazan refinery with a drone, two days after Saudi Arabia signed a defense agreement with Turkey and Pakistan. The strike escalates regional tensions and raises concerns over global energy supply.