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Jul 28, 2025

Daily (28.07.2025): Crude oil prices hit a three-week low on Friday amid economic concerns.

Crude oil prices dropped to a three-week low on Friday, pressured by weak economic signals from the U.S. and China and prospects of rising supply. U.S. capital goods orders unexpectedly fell in June, pointing to slower business spending. Moreover, U.S. plans to ease sanctions on Venezuela could boost exports by over 200,000 bpd. However, los...

Jul 28, 2025

Qatar warned it might reduce LNG exports to the EU in response to a sustainability law.

Qatar has warned it may reduce gas supplies to the European Union in reaction to the bloc's due diligence law concerning forced labor and environmental harm, as indicated in a letter from Qatar to the Belgian government obtained by Reuters. As the world's third-largest exporter of liquefied natural gas (LNG), following the U.S. and Australia, Qata...

Jul 28, 2025

The US and EU have agreed on a trade deal to prevent tariffs.

The United States and the European Union reached a trade agreement on Sunday, ending a prolonged standoff. US President Donald Trump announced the deal after discussions with European Commission President Ursula von der Leyen in Scotland, stating, "We have reached a deal. It's a good deal for everybody." Von der Leyen emphasized the significance of...

Jul 28, 2025

The East Anglia THREE offshore wind project has reached a financial close of $4.8 billion.

Masdar and Iberdrola have secured £3.6 billion ($4.87 billion) in financing for the 1.4GW East Anglia THREE offshore wind farm in the UK. Located off the Suffolk coast, East Anglia THREE will rank among the largest offshore wind farms globally when it begins operations in the fourth quarter of 2026. It will produce enough clean energy for 1.3 milli...

Jul 28, 2025

Shell Approves Egyptian Gas Project to Strengthen Local Supply

Shell has made a final investment decision (FID) to develop the Mina West offshore gas field in Egypt's Mediterranean Sea, aiming to address the country's growing domestic supply gap and bolster its integrated gas strategy. This announcement, made in partnership with Kuwait Foreign Petroleum Exploration Company (KUFPEC), comes as Egypt faces challe...

Jul 28, 2025

Johan Sverdrup's production is declining as loaders at the end of August face challenges.

Norway's Johan Sverdrup crude dropped to a two-month low on July 24, continuing its decline amid expectations for further weakness. Market participants noted a bearish environment as alternative grades reduced demand prospects and a backwardated Brent complex penalized immediate loaders. Platts assessed Johan Sverdrup FOB Mongstad at an 88 cents/b...

Jul 28, 2025

Scotland has approved offshore consent for the 100MW Salamander wind farm.

The Scottish government has granted Section 36 consent and related marine licenses for the 100MW Salamander wind farm, marking a significant advancement in its support for the floating offshore wind sector. Developed collaboratively by Ørsted, the Simply Blue Group, and Subsea7, this consent allows the developers to build and operate the floating ...

Jul 28, 2025

Drilling has commenced for the inaugural geothermal well in Koluszki, Poland.

Drilling has begun for the first geothermal well (Koluszki GT-1) in Koluszki, Poland, with plans to utilize it for recreational or medicinal purposes. The drilling contract with ALGEO outlines that the work should be finished by February 2026. The idea for geothermal baths in Koluszki was first announced in 2023, alongside considerations for distr...

Jul 28, 2025

Lhyfe secures EUR 2.5 million in crowdfunding for green hydrogen initiatives.

France's Lhyfe has secured EUR 2.5 million (USD 2.9m) through a crowdfunding campaign that attracted nearly 1,200 investors to support four green hydrogen production projects in France and Germany. The Nantes-based developer claims this is the first crowdfunding effort in the green hydrogen sector. Public contributions ranged from EUR 300 to EUR ...

Jul 28, 2025

Google collaborates with Italy's Energy Dome to provide a zero-emission power source.

Italian energy storage company Energy Dome announced on Friday that it has formed a commercial partnership with Google to provide carbon-free energy for the tech giant's operations in the U.S. Under the agreement, Google has made a strategic investment in Milan-based Energy Dome, which has developed CO2 battery technology aimed at facilitating th...

Jul 28, 2025

Ukraine has signed its inaugural Transbalkan gas agreement with Azerbaijan's SOCAR.

Ukraine's state-owned oil and gas company Naftogaz has signed its initial agreement with Azerbaijan's SOCAR to import natural gas through the Transbalkan route, as announced on Monday. Naftogaz stated, "For the first time, a test shipment of gas is being delivered through the Transbalkan route along the Bulgaria–Romania–Ukraine corridor." The c...

Jul 28, 2025

The OPEC+ committee is expected to maintain its oil policy on Monday.

An OPEC+ committee is expected to maintain its current plans to increase oil production during its meeting on Monday, according to four OPEC+ delegates, who highlighted the group's intention to regain market share amidst rising summer demand. The Joint Ministerial Monitoring Committee (JMMC), consisting of key ministers from OPEC and allies like ...

Jul 28, 2025

EU legislators focus on accelerating the elimination of Russian gas.

The European Parliament is reviewing proposals to accelerate the EU's exit from Russian gas by one year, targeting January 2027, according to documents obtained by Reuters, as Brussels officials prepare to negotiate a legally-binding ban. EU member states and lawmakers are getting ready to discuss a plan aimed at prohibiting imports of Russian gas...

Jul 28, 2025

The last turbine is scheduled to be installed at the 87MW Kelme 2 project.

Enefit Green is set to install the last turbine at its Kelme 2 wind farm project in Lithuania. The main crane has been moved to facilitate this installation for the 87MW project. Project manager Rokas Smilingis considered this update a significant milestone for the wind farm. He noted that despite delays caused by strong winds, the situation is pro...

Jul 28, 2025

ESB selects Voltalia to build two solar power projects in Ireland.

ESB has selected Voltalia to build two new solar farms in Ireland, totaling nearly 93MW in capacity. Voltalia has received two turnkey engineering, procurement, and construction contracts (EPC) for these projects, which include the 43.7MW Carriglong solar plant and the 49.2MW Clashwilliam solar plant. This marks the fourth partnership between Volta...

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