#OilAndGas

www.theguardian.com

Global food prices at three-year high as heatwaves and wars push up crop costs

UN index says weather is affecting wheat yields while conflicts in Ukraine and Iran hit exports and drive up prices

velhogeneral.com.br

A Nova Geografia do Petróleo e Gás: Contorno de Ormuz, Cenários do Conflito EUA-Irã e Resiliência Logística para Empresas Brasileiras - Velho General

Do fechamento de Ormuz à guerra das terras raras, a interdependência armada reconfigura as cadeias globais. A geopolítica dos dutos e a transição energética impactam os custos no Brasil, exigindo estr...

dlvr.it

Nigeria targets up to $50bn from 22 offshore oil and gas projects

Nigeria could attract $30bn-$50bn from 22 offshore oil and gas projects planned for 2026-30, NUPRC Commission Chief Executive Oritsemeyiwa Eyesan said. Eyesan, represented at the Society of Petroleum Engineers Nigeria Annual International Conference and Exhibition in Lagos by NUPRC Executive Commissioner for Development and Production Enorense Amadasu, said the projects could create thousands of jobs and expand energy infrastructure. She also said the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had approved more than $57bn worth of Field Development Plans since 2024, with several projects taking final investment decisions. Recent commitments include a $1bn investment by ExxonMobil (NYSE:XOM) and its partners in the offshore Usan Infill Project, which NUPRC expects to add about 40,000 barrels per day (bpd). The project also marks the resumption of drilling by ExxonMobil affiliate Esso Exploration and Production Nigeria after its previous drilling operation in 2016. Nigeria's crude output averaged 1.56mn bpd in June, the highest monthly level since April 2020 and equivalent to 104% of the country's 1.5mn-bpd OPEC quota. Including condensates, production reached 1.735mn bpd, rising for a fourth consecutive month from 1.70mn bpd in May. NUPRC attributed the increase primarily to stable operations, the absence of major pipeline outages and improved production uptime. Combined crude and condensate output peaked at 1.89mn bpd during June, which the regulator said showed Nigeria could approach 2mn bpd in the near term. Eyesan said 31 companies had emerged as winners of 37 oil and gas blocks in the 2025 licensing round. NUPRC has said the 2026 licensing round will launch by the end of the third quarter.

drilled.media

The Trouble with Voluntary Methane Schemes

New investigation into reliability of methane certification reveals weakness of voluntary model.

dlvr.it

Colombia's president-elect raises hopes for oil and gas revival, yet

The new president will take office on August 7 WHAT The pro-oil and gas Abelardo de la Espriella is president-elect WHY A shift to the right has been sweeping Latin American politics WHAT NEXT Hurdles remain, and de la Espriella needs the support of congress for some – but not all - of his policies Colombia's oil and gas industry is preparing for a potentially significant policy shift after president-elect Abelardo de la Espriella's narrow election victory, with analysts, investors and industry participants expecting a friendlier stance toward hydrocarbons when he takes office on August 7. De la Espriella defeated left-wing candidate Iván Cepeda in the June 21 runoff by a narrow 250,000 votes, ending the prospect of another administration aligned with outgoing President Gustavo Petro's green energy policies. According to analysts cited by S&P Global, the incoming government could move quickly to encourage conventional oil and gas activity, accelerate permitting and refocus state-controlled Ecopetrol on hydrocarbon development. Several of those measures may not require legislative approval. Dorian Kantor, a political science professor at Freie Universität Berlin and director of Kantor Consulting, told S&P Global that for example the freeze on new conventional exploration contracts was implemented by the executive branch rather than through legislation. As a result, Kantor said the new administration could restart exploration contracting through executive action. He added that de la Espriella would also have the authority to replace Ecopetrol's leadership and steer the company back toward oil and gas development, noting that the Colombian state owns roughly 88% of the producer. Kantor also said the government could prioritize permitting and support development of planned gas import infrastructure. Advancing existing projects Industry participants are focused less on announcing new projects than on advancing those already in the pipeline. Andrés Felipe Calderón Sánchez, vice president for Latin America at consultancy Welligence, told the news outlet that improving coordination of environmental licensing and consultation processes will be essential, along with strengthening security conditions in producing regions. Calderón highlighted the Sirius offshore gas project as one of the country's most important energy developments. According to him, the field contains around 6 Tcf (170 Bcm) of reserves and could reach production of approximately 470 MMcf/d (3.3 Mm³/d), making it a key contributor to restoring Colombia's domestic gas balance. He also pointed to regasification facilities planned for Colombia's Caribbean coast and Buenaventura as projects deserving government support. In addition, Calderón said Colombia has already made progress toward evaluating unconventional resource development through the Kale and Platero research initiatives. Natural gas has become increasingly important in Colombia's energy outlook. Observers told S&P Global that gas-fired generation remains a critical source of backup power when hydroelectric output weakens. Concerns about future weather-related supply stress, including the possibility of another El Niño event later in 2026, have reinforced the need for reliable gas supplies. According to Mariño, cited by S&P Global, Colombia's electricity reserve margin has narrowed significantly. Historically, generation capacity exceeded demand by 10% to 20%, providing a cushion during periods of high consumption or supply disruptions. That margin has become much tighter, increasing concern about system reliability. No gas self-sufficiency At the same time, Colombia is no longer enjoying the gas self-sufficiency it once had. Projects such as Sirius, being developed by Ecopetrol and Petrobras, are expected to help address the shortfall, although permitting and consultation requirements have slowed progress. Even with stronger political support, major additions to gas supply will take years to materialize. Kantor said that planned import terminals are expected to enter service through 2026, while production from Sirius is unlikely before 2029 or even 2030. While investors have welcomed de la Espriella's election, analysts caution that translating campaign promises into policy will be difficult. Barron's reported that Colombian financial assets rallied after de la Espriella emerged as a leading candidate. The Global X MSCI Colombia exchange-traded fund rose 15% between the first round of voting on May 31 and June 23, while yields on the country's 10-year government bonds fell by nearly two percentage points. Market optimism reflects expectations that Colombia could return to more investment-friendly energy policies after Petro's administration halted new drilling permits. Paul Dmitriev, emerging markets portfolio manager at Global X ETFs, told Barron's that oil output, currently below 750,000 barrels per day (bpd), could potentially exceed 1 million bpd under policies that encourage investment and expand resource development. Economic backdrop However, de la Espriella inherits a challenging economic backdrop. Colombia faces a fiscal deficit exceeding 6% of GDP, while rising wages, elevated borrowing costs and inflation continue to pressure public finances. Nicolas Jaquier, an emerging-market fixed-income portfolio manager at Ninety One, told Barron's that the country may require fiscal adjustments equivalent to 4%-5% of GDP. Meanwhile, Carlos de Sousa, emerging-markets debt strategist at Vontobel Asset Management, said interest payments already consume about one-fifth of government revenue. Political realities may prove equally challenging. De la Espriella's party controls only five seats in Congress, and the president-elect will likely need support from multiple political groups to advance major reforms. That constraint is particularly relevant for energy policy. Kantor told S&P Global that tax incentives, royalty reforms, power-market restructuring and changes to consultation rules would require congressional approval. Some of the most significant barriers may be beyond the reach of either Congress or the presidency. Kantor said constitutional protections and court rulings limit the government's ability to alter environmental licensing requirements, prior consultation procedures and fracking regulations. According to Kantor, consultation requirements affect hydrocarbon and renewable energy projects alike. He also said that transmission bottlenecks and financing challenges represent deeper obstacles to energy development than is often recognised. The broader geopolitical backdrop could still work in Colombia's favour. Alexandre Marc, a senior fellow at France's Institut Montaigne, echoed numerous analysts when he told Barron's that instability in the Persian Gulf may encourage energy companies to increase investment in Latin America, which many view as a comparatively stable region for hydrocarbon development. The election outcome also drew support from Washington. Following the result, US Secretary of State Marco Rubio congratulated de la Espriella on social media and said the United States looked forward to working with the incoming administration on economic ties, regional security and migration issues.

www.bairdmaritime.com

Out with wind, in with gas: RWE strikes $1.22b US energy deal cancelling offshore wind leases

German energy company RWE said on Thursday that it had reached a $1.22 billion agreement with the Trump administration to cancel three offshore wind leases in U

alaskanews.com

A Hilcorp gravel-mine permit reflects the North Slope's expanding oil footprint

A U.S. Army Corps of Engineers public notice describes Hilcorp Alaska's proposal for a new North Slope gravel mine called Put 29 and a 1,000-foot access road off the road to Drillsite 15. Written comm

dlvr.it

Williams to buy Momentum Midstream in $5.5bn deal

US pipeline operator Williams has agreed to acquire Momentum Midstream from private equity firm EnCap Flatrock Midstream in a transaction valued at up to $5.5bn. The announcement was included in Williams’ second-quarter earnings release on August 3. Williams said it would acquire 100% of Momentum for $3.5bn in cash and debt consideration, as well as roughly $2bn of Williams equity. The deal is focused on the Haynesville shale gas play, where Williams already has a substantial presence. According to the announcement, Momentum’s Haynesville assets will add more than 4,000 miles (6,437 km) of pipelines and over 1mn dedicated acres (4,047 square km) within four major gathering areas with a combined capacity of 6bn cubic feet (170mn cubic metres) per day. Also included are multiple processing and treating facilities and three take-or-pay pipelines capable of transporting 4.05 bcf (115 mcm) per day, which serve the Haynesville and key demand markets, the announcement said. The acquisition has an implied valuation of around 8.5x projected 2027 earnings before interest, taxes, depreciation and amortisation (EBITDA), Williams said. Bloomberg had reported in June that Williams was in advanced talks to acquire Momentum, so the deal does not come as a surprise. It follows a period of growth for Momentum, which has been pursuing its own acquisitions and expansions over the past few years in a bid to serve growing gas demand on the US Gulf Coast. Williams also said it was announcing two immediate expansion projects in order to capture the next wave of Haynesville supply and connectivity to growing LNG and power demand. The first is the $1.5bn Delta Access expansion along the Transco corridor. This project will have an initial capacity of 2.25 bcf (63.7 mcm) per day, with future expansion opportunities, and is expected to enter service in the first quarter of 2029. The second project is the Shelby Trough Connector expansion of Williams’ LEG system into the growing Shelby Trough area of the Haynesville play. Williams said that project would have an initial capacity of 750mn cubic feet (21.2 mcm) per day, with expansion potential up to 1.5 bcf (42.5 mcm) per day. The project includes a new lateral and additional compression facilities and is expected to be online in the second quarter of 2028. Williams said that both the Momentum acquisition and the expansion projects deepen its exposure to long-term gas demand growth. It noted that this includes LNG demand on the US Gulf Coast, which it said was projected to increase by around 20 bcf (566.4 mcm) per day over the next 10 years. Williams’ president and CEO, Chad Zamarin, described Momentum as a “highly strategic platform that strengthens our position in the country’s most important LNG demand corridor”. And analytics firm RBN Energy noted in a blog post this week that Williams would become the largest gas gatherer in the Haynesville following the acquisition.