14th May 2025

📰 🛢️Aramco nears US LNG investment…US and Saudi’s renewed bromance…Venture Global shares pop…Trump to show up to Russia / Ukraine talks…and barrels more. 🛢️📰

📈 THE NUMBERS

🗞️ WELL-HEADLINES

 🗽 North America

• Aramco close to investing in Woodside’s Louisiana LNG as it expands its LNG footprint.

• Venture Global shares jump ~10% after announcing Plaquemines LNG ramp-up

• US gov plans to spend $1.5bn refilling the Strategic Petroleum Reserve 

• Kayne Anderson raises $2.25bn for third oil & gas investment fund

• Glencore signs 20yr 2 mtpa LNG supply deal from Commonwealth LNG

• Canadian PM Carney express support for new oil & gas pipelines

🏰 Europe

• Norway M&A market looking healthy thanks to new entrants

• Norway avoids oil worker strike after reaching a deal

• Total finally reaches targeted peak production at Danish Tyra field

⛩️ Asia & Oceania

• Aussie regulator halts Santos’ Barossa drilling due to “degraded” blow out preventer

• Eni celebrates first gas at Merakes East gasfield in Indonesia

• Financially distressed Sapura Energy outlines $2.8bn debt restructuring plan

• Former CNOOC and PetroChina chairman gets 13 years for corruption

🦁 Africa

• Tullow exits Gabon in $300m sale to state-owned GOC

• Chariot share price sinks after partner Energean exits assets in Morocco

🗿 Central & South America

• Petrobras revises strategic plan and cuts costs on lower oil prices

• Colombian oil sector struggling with rife sabotage

• Pampa Energia investing ~$1.6bn in Argentina's Vaca Muerta through 2026

🌍 GEOPOLITICS & MACRO

• Trump may show up to Russia - Ukraine peace talks in Turkey this week, which could see Zelensky and Putin meet face to face

• US and Saudi sign $142bn arms deal, as relationship “more powerful than ever”

• US slaps sanctions on 20 companies it accuses of shipping Iranian oil to China

• European countries banding together to protect Baltic Sea subsea cables from attack

• Fresh unrest in Libya after killing of militia leader. No major impact to oil flows so far

💨 CARBON, CLIMATE, & OTHER ENERGY STUFF

• IEA reduces EV oil demand displacement forecast as EV uptake underwhelms. What a surprise.

• NRG splashes $12bn on buying natural gas power stations in the US from LS Power 

• Denmark considering lifting 40 year nuclear power ban

• US looking to phase out EV tax credits and renewable energy incentives

• Total sells 50% of Polish biogas producer Polska Grupa Biogazowa to HitecVision

🛢️ BOTTOM OF THE BARREL

👋 BEFORE YOU GO

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Thanks for reading. Have a day out there. 🛢️🛢️

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