February 17, 2026 – Oil & Gas 360

Oil & Gas 360 Commentary & Analysis - Venezuela’s oil is back in play — and so is the geopolitics- oil and gas 360

Venezuela’s oil is back in play, and so is the geopolitics: Oil & Gas 360

February 17, 2026

(By Oil & Gas 360) – For years, Venezuela’s oil industry has existed in a kind of geopolitical limbo. Sanctions choked off Western capital. Infrastructure deteriorated. Production collapsed. Into that vacuum stepped Russia and China, keeping barrels moving but doing little to restore the industry’s long-term viability. That stalemate is now shifting. By allowing U.S. companies to resume certain oilfield

Berkshire Hathaway’s PacifiCorp sells Washington assets for $1.9 billion

February 17, 2026

(Oil Price) – Portland General Electric Company has agreed to buy select power plants and utility operations of Berkshire Hathaway’s PacifiCorp in Washington State for $1.9 billion, the Portland-based firm said on Tuesday. The price of the acquisition represents a purchase price multiple of 1.4 times the estimated 2026 rate base. As part of the deal, Portland General Electric (PGE) will buy three

Guyana advances second gas-to-shore project to diversify beyond oil

February 17, 2026

(World Oil) – Guyana is preparing a second pipeline that will bring natural gas from its deepwater oil fields to the shore where it will be used for power and other industrial development. The project at Berbice, in the east of the South American country, will be finalized “very soon,” President Irfaan Ali told the Guyana Energy Conference in Georgetown on Tuesday. It

Data centers push great lakes region to the brink

February 17, 2026

(Oil Price) – After years of steady energy consumption rates, the Great Lakes region is expected to see a 2 to 3 percent annual rise in energy demand over the next ten years as data centers pop up at a rapid clip to support the AI boom. Not only will this growth rate place extra stress on local energy grids (and

Citi says geopolitics to support oil near term; peace deals seen lowering prices

February 17, 2026

(BOE Report) – Oil prices could remain supported in the near term as U.S. President Donald Trump ramps up pressure for peace deals involving Russia and Iran, but a resolution later this year may ultimately push crude lower, Citi said on Monday. Brent crude has rallied from around $60 per barrel to near $70 in the past month, partly reflecting

Buccaneer reports production gains from East Texas oil recovery pilot

February 17, 2026

(World Oil) – Buccaneer Energy has completed a pilot program testing organic oil recovery (OOR) technology at its Pine Mills field in East Texas, reporting improved production and reduced water cut in the treated area. The pilot was conducted in the northern section of the field within the Battery 3 area and involved treatment of one water injector and two producing wells. Following

Why natural gas prices are falling

February 17, 2026

(Investing) – Natural gas prices have dropped sharply this month, a move Morgan Stanley links to milder late-February weather and a rapid recovery in supply following Winter Storm Fern. Analyst Devin McDermott wrote in a note to clients that prices “have pulled back ~29% so far in February alongside a milder shift in weather,” adding that the recent reversal in

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