Trending News: Oil Prices Settle Up as US Begins Holiday WeekendUS Moving Fast to Expand Chevron’s Venezuela License, Energy Secretary Wright Tells ReutersWhite House Seeks Emergency Power Auction for Largest US Electric GridSolplanet Expands into Southeast Asia, Strengthens Regional Leadership Through Vietnam PartnershipMolecular Press Annealing Breakthrough Pushes Perovskite Solar Cells Closer to Commercial RealityUS Drillers Cut Oil and Gas Rigs for Second Week in a Row, Baker Hughes SaysUS Not Currently Considering Using Venezuelan Oil in Exchange to Fill Strategic Reserve, Energy Department SaysNew Discoveries Fuel Egypt’s Push for Energy IndependenceThe 40% of US Oil Jobs Lost Over the Last Decade Aren’t Coming BackLow Oil Prices Force Billionaire Harold Hamm to Halt Bakken DrillingUS Oil Refiners’ Weekly Capacity to Fall by 450,000 Barrels Per Day, IIR Energy SaysWhat Excites and Worries LNG Exporters in 2026: MaguireTrump Officials Vow to Keep All US Coal Plants RunningOil Wildcatter Hamm Is Halting Drilling in the BakkenTrump Moves to Have Tech Giants Pay for Surging Power CostsVeteran Gas Executive Steve Hill Is Leaving MercuriaAzerbaijan Begins Gas Deliveries to Germany and AustriaGermany Relaunches Major EV Subsidy Program With Billions in FundingEIA Sees Brent Price Dropping in 2026, 2027Gas-fired generation for data centres ‘could double by 2035’UAE commits to supporting Nigeria LNG sectorOil Prices Edge Higher as Supply Risks Remain in FocusUS Judge to Weigh Dominion Request to Restart Virginia Offshore Wind Project Stopped by TrumpOPEC Boosts Oil Exports to India as Russian Flows SlumpChevron Greenlights Major Expansion of Israel’s Leviathan Gas FieldTrump Orders Emergency Power Auction for Big Tech AI Data CentersOne of the World’s Largest BESS Projects —Sineng Electric Delivers 576MW PCS for Khavda Energy ParkAbu Dhabi publishes policy for CCUSDevon-Coterra Tie-Up Would Create a New Permian HeavyweightRussia’s Oil Revenue Slump Hits Budget Where It HurtsMitsubishi Bets Big on U.S. Gas With $5.2 Billion Haynesville DealSpringview Partners With GSO To Bring Solar And Green-Energy Solutions To Singapore HomesHigh Efficiency Meets Bankability: Inside Astronergy’s ASTRO N8 Bifacial Solar ModulesBasic Energy Invests P1.9 Billion In New Negros Occidental Solar Power Project In PhilippinesBinastra Green Energy Signs RM305 Million Agreement for Solar and Battery ProjectsUK biomethane: progress in 2025 and key policy decisions in 2026 Specialty gases to grow 8.7% in 2026, forecasts TechcetMitsubishi buys Aethon US gas assets for $5.2bnHalliburton Looking Forward To A Swift Return To VenezuelaRussian Oil and Gas Revenue Falls to Lowest in 5 YearsUS Energy Chief Says US Getting 30% Higher Price for Venezuelan Oil Than Venezuela Did Weeks AgoUS Shale Producers Devon Energy and Coterra Energy in Merger Talks, Sources SayNew York governor sets out vision for nuclear backboneProject Phoenix report backs SMR use in SlovakiaNASA, DOE aim for nuclear reactor on moon by 2030China Leads Global Coal Power Additions Despite Renewables PushMaersk Resumes Key Red Sea Shipping RouteCOMMENTARY: Key US Energy, Power Trends at Home and on World MarketsCOMMENTARY: Oil Traders Wrestle With Geopolitical Trifecta and Elusive GlutCargill Shipping Boss Says Low Oil Makes It Harder to Cut CarbonOil Producers Need Guarantees to Work in Venezuela, Trump Ally Hamm SaysChina’s Grid Giant Plans Huge $574 Billion Investment SurgeNigeria Misses OPEC+ Oil Quota for Fifth Straight MonthCanada and China Unveil Landmark Energy Cooperation AgreementsRatermann Manufacturing signs US distribution deal with Chart IndustriesUP, NOW DOWN – Oil Plunges After Trump Comments Ease Iran FearsVenezuelan Oil Priced at a Premium to Competing Canadian Barrels for US Gulf Coast Refiners, Traders SayTrump Backs Venezuela Staying in OPECAir Products Membrane Solutions obtains maritime cybersecurity certificationIndia’s Coal Output Jumped 3.6% in DecemberU.S. Sells First Venezuela Oil Cargo for $500 MillionU.S. Sanctions Push India’s Russian Crude Imports to Three-Year LowCourt says US DOE acted unconstitutionally in clean energy funding cutsOil Prices Retreat After 5 Session ReboundMetalysis to recycle argon using GR2L recovery techMedical gases: ensuring delivery from plant to patientLow-emission tech take-up is lagging Paris climate targetsJuniper Green Energy Operationalises Additional 72 MWp Solar Power at Solapur Hybrid ProjectEnvision launches ‘physical AI’ energy modelEnergy costs across Europe industrial sectors could fall €39bn by 2032Energy costs across Europe industrial sectors could fall €39bn by 2032Oil Prices Plunge 3% as Trump Plays Down Prospect of War With IranSaudi Aramco Signs Long-Term LNG Supply Agreement in LouisianaHYXiPOWER Debuts at WFES 2026 with Intelligent Energy Storage SolutionsSterling And Wilson Renewable Energy Posts 48% YoY Revenue Growth In 9MFY26, EBITDA Doubles; Raises FY26 Order Inflow Guidance Above INR 11,000 CroreBP Sees Up To $5B Impairments Tied to Low Carbon AssetsCATL Opens Middle East’s Largest New Energy Aftermarket Hub in Riyadh to Support Vision 2030 and Regional Energy TransitionWaga Energy awarded CA$15m for Quebec biomethane projectNorway’s Avinor begins liquefied biogas power pilot at Arctic airportEnverus: Venezuela To Increase Oil Output 50% By 2035Shipping Firms Scrambling to Expand Capacity for Venezuela Oil TransfersIWTMA to Participate in Bharat Renewable Expo 2026 in JaipurJoshi Courts Global Investors, Strengthens India–UAE Clean Energy Ties During Abu Dhabi VisitRadiation-Tolerant Thin-Film Photovoltaic Technology for Power Systems in Cislunar MissionsL&T Strengthens Energy Storage Portfolio with 3 GW Saidongar-1 PSP Order in MaharashtraInternational Energy Agency To Host Mission Innovation Secretariat At Paris Headquarters, Strengthening Global Energy CollaborationWMO–IRENA Study Highlights Urgency Of Integrating Climate Intelligence Into Renewable Energy PlanningEBRD President Odile Renaud-Basso To Visit Tunisia And Meet Government & Private Sector Leaders For Sustainable DevelopmentLightsource bp And Toyota Partner On Jones City 2 Solar Farm To Boost Renewable Energy In TexasEssar Energy Transition Reports Record Domestic Sales At Stanlow Refinery In 2025, Reinforcing UK Energy SecurityBloombergNEF Forecast: India To Surpass US As World’s Second-Largest Solar Market In 2026, With Capacity Additions Rising 6% To Over 50 GWKazakhstan Cut December Oil Output By 230 Kb/dSaudi Aramco and Commonwealth LNG Sign Long-Term Supply DealUS Completes First Venezuelan Oil Sales Valued at $500 Million, US Official SaysChevron Expected to Receive Expanded Venezuela License From US This Week, Sources SayLicensing of Newcleo’s SMR progresses in FranceNamibia discusses nuclear energy cooperation with RussiaUkraine and Poland discuss Khmelnitsky expansion plansLeningrad 4 given five-year life extension licenceSkanska to produce prototype aseismic bearing for Rolls-Royce SMR

Oil Majors Suffering From OPEC+ Output Hike, Not From U.S. Tariffs, Eni Exec Says

Business & Policy
April 4, 2025

CERNOBBIO, Italy, April 4 (Reuters) – Oil majors are suffering after eight OPEC+ countries unexpectedly agreed to increase oil output in May, while tariffs imposed by U.S. administration had a muted effect on the sector, Eni’s (ENI.MI) top executive Francesco Gattei said on Friday.

He added that energy groups could react to the possibility of tariffs denting global economic growth, reducing demand for power.

The actual increase in OPEC+ production could result lower than announced when taking into account a stricter U.S. embargo on Venezuela and the potential drop in Kazakhstan’s oil flows, Gattei added, speaking on the sidelines of a business conference.

Reporting by Giancarlo Navach; writing by Francesca Landini, editing by Giulia Segreti