Oilprice.com

1 day ago | oilprice.com | Simon Watkins

Western energy giants like Chevron, Shell, BP, and Eni are ramping up investments in Egypt’s gas sector. Egypt holds a unique strategic advantage with its LNG infrastructure and control of vital transit routes like the Suez Canal and SUMED pipeline. Despite debt concerns, international support—including IMF and EU financing—continues to flow into Egypt.

1 day ago | oilprice.com | Tsvetana Paraskova

U.S. LNG exporter Venture Global more than doubled its first-quarter revenue from a year earlier as its Plaquemines and Calcasieu Pass plants have launched operations and exports in recent months. Venture Global reported on Tuesday revenues of $2.894 billion for the first quarter of the year, more than double compared to $1.414 billion for the same period in 2024.

1 day ago | oilprice.com | Tsvetana Paraskova

Supply chain constraints and higher cost have forced energy companies to withdraw eight projects to build gas-fired power plants in Texas under a $5-billion state loan program, the Financial Times reported on Tuesday. The Public Utility Commission of Texas (PUCT) is currently reviewing the extension of $5.38 billion worth of low-interest loans to companies planning nearly 10 gigawatts (GW) of new natural gas-fired capacity in a bid to boost generation capacity for ERCOT.

1 day ago | oilprice.com | Tsvetana Paraskova

Brazil’s state oil firm Petrobras will pay $2.1 billion in dividends for the first quarter after posting a jump in net income due to one-off items. Petrobras reported a net income of $6.2 billion (35.2 billion Brazilian reals) for the first quarter, up by 48.6% from a year earlier, due to one-off items and more favorable exchange rates. Without the one-off items, net income dropped by 12.1% year-over-year.

1 day ago | oilprice.com | Tsvetana Paraskova

Spain’s authorities are asking small solar and wind power plants to provide information about their cyber defenses and recent security updates as Spain continues to investigate what triggered the massive blackout on April 28, the Financial Times reported on Tuesday, citing owners of small renewable generation plants.