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Oil Prices Surge as Market Shrugs Off OPEC Quota Shock

OilPrice

Oil prices staged a robust comeback on Tuesday, clawing back ground lost after OPECs surprise weekend announcement to boost production quotas by more than expected. WTI surged more than 4% on the day, trading above $59, while Brent gained 3.7%, reaching well above $62. The bounce comes after a bruising April that saw prices crater under the weight of U.S. tariffs and OPEC+ confusion.

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Understanding the April 2025 Iberian Peninsula Blackout: Early Analysis and Lessons Learned

POWER Magazine

On April 28, 2025, at 12:33 p.m. local time, a significant blackout affected the entire Iberian Peninsula, plunging Spain and Portugal into darkness. During a webcast on May 6, Sean […] The post Understanding the April 2025 Iberian Peninsula Blackout: Early Analysis and Lessons Learned appeared first on POWER Magazine.

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U.S. Electricity From Fossils Fuels Dips Below 50% for the First Time Ever

OilPrice

For the first time in history, fossil fuels supplied less than half of the United States electricity generation for an entire month, according tonew data releasedby energy think tank Ember. This milestone, achieved in March 2025, represents a turning point in the evolving energy mix of the worlds largest economy. Historically, fossil fuelsprimarily coal and natural gashave dominated U.S. electricity production.

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Fire Suppression in Battery Energy Storage Systems: Why Immersion Cooling Offers a Safer Future

POWER Magazine

Battery Energy Storage Systems (BESS) are revolutionizing our power grids, dramatically enhancing resilience, and facilitating greater integration of renewable energy sources like solar and wind. This technological evolution promises a […] The post Fire Suppression in Battery Energy Storage Systems: Why Immersion Cooling Offers a Safer Future appeared first on POWER Magazine.

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Reform UK vs Labour: A ‘mature and sensible debate’ needed for net zero

Energy Voice

Geg Quinn calls for a sensible debate on the UK's journey to net zero that avoids the 'extremist' views from both sides.

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What Do Saudi Arabia & Allies in OPEC+ Want from Accelerating the Unwinding of Voluntary Cuts?

Energy Outlook Advisors

The group of 8 (or V8), OPEC+ members who made voluntary cuts, agreed to expedite unwinding the 2.2 mb/d cuts by increasing production ceiling by 411 kb/d in May and another 411 kb/d in June. The impact is less bearish than perceived by media and market participants. This raises the production ceiling and not necessarily production. Raising production ceiling legitimizes overproduction that is already in the market.

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Oil price, Zephyr, Angus, Serica, Challenger, Eco Atlantic, Star. And finally…

Malcolm Graham Wood

Zephyr results from the Paradox and Angus update. Oil fell again last week after Opec+ added to production but has rallied today on fears of a US shale collapse. Serica and EnQuest announced that there would be no deal and Challenger has a positive update today. Good news from Eco Atlantic from the Orange Basin and Star signs a deal with Veolia in geothermal projects.

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Stuck in the Queue and Paying the Dues

Enverus

PJM, CAISO and MISO have all experienced significant spikes in capacity market prices. The last auction in PJM cleared at $269.92/MW-day, increasing ~834% from $28.92/MW-day. In CAISO the resource adequacy price saw a similar increase, jumping from $160.60/MW-day in 2020 to $297.21/MW-day. Most recently, MISO announced its summer capacity price will surge from $30/MW-day to $666.50/MW-day, a striking 22x increase.

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Oil Market Update: The Production Increase by the V8 is Less Bearish Than Analysts Suggest, As They Overlooked Seasonal Oil Demand in Oil-Producing Countries.

Energy Outlook Advisors

Al Khairat Thermal Power Plant in Iraq. Source: Harlow Group, 2025. Our Saturday Note “ What Do Saudi Arabia & Allies in OPEC+ Want from Accelerating the Unwinding of Voluntary Cuts ?” concluded that the increased production ceiling has limited impact, but bearish sentiment will delay market realization. Oil prices fell 4.5% initially, recovering to a smaller decline by day's end.

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Oil price, Touchstone, Genel, Reabold. And finally…

Malcolm Graham Wood

Oil rallies as tariff talks start to grow. Touchstone announce a $20m private placement while Genel has a positive update. Reabold convert loan notes into equity of LNEnergy. The post Oil price, Touchstone, Genel, Reabold. And finally… appeared first on Malcy's Blog.

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Russia Backs Iraqi Push To Reopen Key Oil Pipeline To Syria As Gateway To Europe

OilPrice

The multi-layered strategic importance of Syria to Russia was underlined in 2011 when President Vladimir Putin ordered his military to intervene to counter the popular uprising that threatened to depose then-President Bashar al-Assad at that time. A sustained and dramatic escalation of its armed forces there, working closely with Iraqs key local sponsor Iran, ensured that Russia continued to benefit from the strategic advantages Syria offered it until the U.S.- and U.K.

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Google Will Fund Three Nuclear Projects with Elementl Power

POWER Magazine

A nuclear power project developer said it has a deal with Google, with the technology company agreeing to commit funding for at least three projects that each would have 600 MW of generation capacity. Elementl Power, founded in 2022 and based in Greer, South Carolina, on May 7 said Google would help the company move toward its goal of bringing more than 10 GW of nuclear power capacity online by 2035.

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Zephyr Energy plc announces successful initial results from State 36-2R well production test

Oil & Gas 360º

(Oil & Gas 360) – Publishers Note: Zephyr Energy plc will be presenting at the EnerCom Denver The Energy Investment Conference held at the Westin Denver Downtown on August 17-20, 2025. Register to attend. RNS Number : 5882H Zephyr Energy PLC 07 May 2025 Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under theUKMarket Abuse Regulation.

Energy 147
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371 MWh! Another Major Energy Storage Order in North America

EnergyTrend

371 MWh! Another Major Energy Storage Order in North America AccordingtoWechatOfficialAccount@EnergyStorage001,TrinaStorage,asubsidiaryofTrinaSolar,announcedacooperationwithFlexGen,aleadingAmericanenterprisespe.

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Oil price, Touchstone, UOG, Predator. And finally…

Malcolm Graham Wood

Oil continues to rally from the lows with the US at the centre of everything, tariff deals and clamping down on Iranian oil going into china. Today I catch up on Touchstone after speaking to Paul Baay and note news earlier in the week from United and Predator. The post Oil price, Touchstone, UOG, Predator. And finally… appeared first on Malcy's Blog.

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OPEC+ Stuns Market With Larger Than Expected Output Hike

OilPrice

Crude oil markets took a fresh hit this weekend after OPEC+ stunned traders by announcing a larger-than-expected output increase for June. In a virtual meeting on Saturday, key producers led by Saudi Arabia and Russia agreed to raise collective output by 411,000 barrels per day (bpd), nearly triple the volume originally scheduled. The move follows a similar surge announced for May and signals a sharp reversal from OPEC+ efforts to defend oil prices.

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The Erosion of Energy Affordability

POWER Magazine

Since 2024, Americas airwaves have been flooded with phrases like nuclear renaissance and drill, baby, drill. Energy affordability has occupied the minds of the president, state legislators, regulators, energy suppliers, […] The post The Erosion of Energy Affordability appeared first on POWER Magazine.

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Google agrees to fund the development of three new nuclear sites

CNBC: Energy

Google is backing new nuclear plants from Elementl Power as power demand from data centers surges.

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LNG Canada prepares plant for first production in June, sources say

BOE Report

LNG Canada has completed the cooldown of its liquefied natural gas plant in Kitimat, British Columbia, and is preparing for the plant to produce its first LNG in June, two people familiar with the process told Reuters.

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Oil price, Prospex. And finally…

Malcolm Graham Wood

Crude has given back a little ahead of the Opec+ meeting on Monday and Prospex has better news from Italy than it did from Spain. The post Oil price, Prospex. And finally… appeared first on Malcy's Blog.

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Ontario Authorizes OPG to Start Construction of First Commercial Nuclear SMR

POWER Magazine

Ontarios provincial government has given Ontario Power Generation (OPG) the green light to begin construction on the first of four BWRX-300 small modular reactors (SMRs) at its Darlington New Nuclear […] The post Ontario Authorizes OPG to Start Construction of First Commercial Nuclear SMR appeared first on POWER Magazine.

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U.S. crude oil prices fall more than 4% after OPEC+ agrees to surge production in June

CNBC: Energy

OPEC+ is bringing more than 800,000 bpd of additional supply to the market over the course of two months.

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US Weekly Oil Data (but what about global oil inventories?)

Energy Outlook Advisors

May 7, 2025 The OPEC+ group of eight (V8) stated in its press release that low global oil inventories are a key reason for the production increase of 411 kb/d in June. Below is a chart confirming their statement.

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Wall Street billionaire bets on Putin’s last gas pipeline

Oil & Gas 360º

(Oil Price) –Paul Singers Elliott Management is kicking the tires on a deal that would have been unthinkable just a few years ago: buying a stake in a pipeline that carries Russian natural gas into Europe. The pipeline in question is the Bulgarian extension of TurkStreamRussias last functioning gas artery to the continent. With the rest of its gas empire sanctioned, sabotaged, or politically radioactive, TurkStream is the Kremlins last straw clutched tightly in the hand of European demand.

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Russian Oil and Gas Revenues Dipped by 12% With April Price Crash

OilPrice

Russia saw its budget revenues from oil and gas drop by 12% in April from a year earlier, due to the oil price rout last month, the Russian finance ministry said on Wednesday. Oil and gas revenues for the Kremlin dipped to $13.45 billion (1.09 trillion Russian rubles) in April, from $15.2 billion (1.23 trillion rubles) in the same month of last year.

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An Overview of the Energy Coordinating Agency

The Energy Co-op

Join The Energy Co-op at our Annual Member Meeting and Conference. Who: Members and Friends of The Energy Co-op Where: The Inn at Swarthmore, Swarthmore, PA When: Saturday, June 9th, 8:30am 2:00pm What: The Annual Member Meeting and Conference brings together Co-op members, members of the community and representatives from other Co-ops and other organizations working on sustainable development in PA followed by the Co-op membership meeting.

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India Coal Giant Will Invest $3 Billion for Renewables, and Build 1.6-GW Coal-Fired Plant

POWER Magazine

State-owned Coal India Limited (CIL) has announced plans to invest about $3 billion to build as much as 4.5 GW of renewable energy generation capacity. The memorandum of understanding, signed May 7 with major ammonia producer AM Green, is expected to significantly increase Indias green hydrogen and ammonia production capabilities. The post India Coal Giant Will Invest $3 Billion for Renewables, and Build 1.6-GW Coal-Fired Plant appeared first on POWER Magazine.

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Breaking Down Barriers

American Gas Association

News True Blue Blog Ameren Illinois fuels the future through donation to truck driver training program Where energy conversations come to life. Effective communication is essentialespecially when providing critical services like natural gas maintenance. However, for Columbia Gas of Ohio technicians, a language barrier made it difficult to serve a growing Haitian community.

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A note on the news: “Break-even” oil prices

Oil & Gas 360º

(Oil & Gas 360) – Over the past few weeks, several headlines regarding the international oil business have surprised market watchers: A note on the news: Break-even oil prices- oil and gas 360 The news that the OPEC+ group decided to increase its production rate in May by 411,000 barrels a day (b/d). The Trump Administration decision to tighten sanctions, including secondary sanctions, on Iranian-exported oil.

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OPEC+ Overproducer Kazakhstan Will Not Cut Oil Output in May

OilPrice

Kazakhstan doesnt have any plans to cut its crude and condensate production in May, its energy ministry said on Thursday, as the OPEC+ producer continues to give the group headaches with continuously busting its quota in the deal. Kazakhstan, one of the biggest overproducers under the agreement alongside OPECs second-largest producer, Iraq, plans to keep its crude oil and condensate production levels in May the same as in April and slightly higher than in March, Kazakhstans energy ministry told

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Delayed Blenheim Palace solar project seeks £800m finance package

Energy Voice

Planning for the UKs largest solar farm has hit minor delays, as local opposition mounts despite the project's huge biodiversity net gain.

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Another Energy Storage Manufacturer Signed A 2.5GWh Order!

EnergyTrend

Another Energy Storage Manufacturer Signed A 2.5GWh Order! AccordingtoWechatOfficialAccount@sjchuneng,onMay7,CORNEXsigneda2.5GWhstrategiccooperationagreementwithUK-basedImmersaatthe2025SmarterEEuropeexhibition.

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Driving Education Forward

American Gas Association

News True Blue Blog Ameren Illinois fuels the future through donation to truck driver training program Where energy conversations come to life. Students at Lewis and Clark Community College will now have access to a valuable hands-on training tool, thanks to a donation from Ameren Illinois. In December 2024, officials from Ameren Illinois and L&C gathered at the colleges Godfrey campus to celebrate the donation of a retired 2006 Freightliner to the colleges Truck Driver Training program.

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Energy Market Assessment: Supply expectations high and demand expectations low

Oil & Gas 360º

(Oil & Gas 360) – Supply Expectations High And Demand Expectations Low, Running Counter To U.S. Supply Demand Data Have The Consensus Set UP To Be Caught Short. The price of WTI crude oil back below $60 reflects much fear plus news that OPEC+ will increase production. The Organization of Petroleum Exporting Countries (OPEC), + other world exporters announcing Monday, that production limits will be increased 411,000 barrels per day in June deflated the spot market price of West Texas I

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Next Generation Solar Panels Are Revolutionizing Clean Energy

OilPrice

Researchers around the world are competing to design and scale next generation solar panels. While current photovoltaic solar panels are generally cost-effective and efficient, the sector is always looking to advance, and find even better ways of converting sunlight into clean energy. Solar photovoltaics are on track to be the worlds biggest source of renewable energy by 2029, overtaking hydropower.

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U.S. oil production has likely peaked and will start to decline due to price plunge, Diamondback CEO warns

CNBC: Energy

U.S. crude oil prices rose more than 4% to $59.56 per barrel Tuesday as domestic production is expected to decline.

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Invested and constructed 4GW TOPCon solar cell production line in UK!

EnergyTrend

Invested and constructed 4GW TOPCon solar cell production line in UK! AccordingtoWechatOfficialAccount@pv-news,,localtime-BritishInternationalInvestment(BII)hasdecidedtoinvestINR8.7billion(about$103million)inReNewPhotovo.

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