(Oil Price) – The European Union has been looking for rare-earth suppliers outside China for a while now. Last year, Commission president Ursula von der Leyen declared, “The aim is to secure access to alternative sources of critical raw materials in the short, medium and long term for our European industries.” It seems one of these alternative sources will be Brazil.
(BOE Report) – Canadian oil producer Cenovus Energy is considering a sale of conventional oil and gas assets in the Deep Basin of Alberta as it looks to cut debt after the recent takeover of oil sands rival MEG Energy, two sources familiar with the matter told Reuters. Cenovus has reached out to potential buyers in recent weeks to gauge interest in the assets,
(World Oil) – Halliburton reported a sharp sequential improvement in fourth-quarter 2025 earnings, driven by higher international activity and improved operating margins, even as North American stimulation activity declined. The oilfield services provider posted net income of $589 million, or $0.70 per diluted share, on revenue of $5.7 billion. Adjusted operating margin rose to 15%, reflecting improved activity mix and year-end tool
(Oil Price) – Japan’s Tokyo Electric Power Co. will today restart its first nuclear reactor after the Fukushima disaster. Reactor #6 at the Kashiwasaki Kariwa power plant will be switched on after 7 pm local time, Bloomberg reported, citing a company news release. The reactor has a capacity of 1.36 GW, Reuters noted in a report on the news. Kashiwasaki Kariwa is the world’s
(World Oil) – Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter. The alternative asset manager is talking to investment banks about bringing the Houston-based company to market as soon
(BOE Report) – Spiralling trade tensions between the U.S. and Europe over President Donald Trump’s bid to buy Greenland have once again left the bloc highly vulnerable in a geopolitical tussle because of its heavy dependence on a single supplier for its critical energy needs. Less than four years ago, Europe’s economy was dealt a harsh blow in the wake
(Oil Price) – The world’s oil demand growth is set to rise by 930,000 barrels per day (bpd) in 2026, thanks to lower oil prices and a normalization of economies after the 2025 tariff chaos, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate by 70,000 bpd from last month. Oil demand is forecast to grow by
