Energy 4 May 2026 - 10 May 2026

Weatherford Shares Slip After ExxonMobil Nigeria News
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Weatherford Shares Slip After ExxonMobil Nigeria News

Weatherford International shares fell 1.1% to $108.79 Friday after announcing a new deepwater completions contract with ExxonMobil’s Nigerian affiliate. The company did not disclose the contract value. Investors weighed the deal against ongoing Middle East disruptions and uneven regional activity. First-quarter revenue dropped 3% to $1.15 billion, while net income rose 42% to $108 million.
May 23, 2026
South32’s Eskom Power Deal Puts 29,000 Aluminium Jobs in Play
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South32’s Eskom Power Deal Puts 29,000 Aluminium Jobs in Play

South32 aims to secure a new electricity deal for its Hillside Aluminium smelter by 2029, ahead of its discounted Eskom contract expiring in 2031. Talks with Eskom include renewable power options with backup supply. The smelter supports thousands of jobs and consumes power continuously. South32’s Mozal plant in Mozambique shut in March after failing to secure affordable electricity.
May 10, 2026
Santos Stock Faces A Crucial Week As Australia’s Gas Rule Tests Its LNG Growth Plan
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Santos Stock Faces A Crucial Week As Australia’s Gas Rule Tests Its LNG Growth Plan

Santos shares closed at A$7.52, down 1.44%, as investors assess the impact of Australia’s new gas reservation policy requiring exporters to supply 20% of exports to the domestic market from July 2027. The rule could pressure Santos’s GLNG venture, which currently does not supply domestic gas. Analysts warn the policy may slow LNG supply growth. Santos expects Barossa and Pikka projects to boost output by up to 30% by 2027.
May 10, 2026
Longi’s First Finland Battery Goes Live as Nordic Storage Race Heats Up
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Longi’s First Finland Battery Goes Live as Nordic Storage Race Heats Up

Longi Green Energy Technology has launched its first Finnish battery energy storage system, a 2 MW/4 MWh unit at the Söderby Solpark solar site in the Åland Islands. The system, designed for sub-zero conditions, integrates with a 4 MW solar plant and can restart local power after outages. Grid operator Fingrid reports 1,050 MW of storage now connected nationwide. Finland is tightening rules for battery grid integration as storage demand rises.
May 10, 2026
Woodside’s $30 Billion Browse Gas Bet Hits Decision Point as Australia Eyes Bigger Tax Take
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Woodside’s $30 Billion Browse Gas Bet Hits Decision Point as Australia Eyes Bigger Tax Take

Woodside Energy’s $30 billion Browse gas project could face a federal decision as early as next month, according to government documents. The company has begun pre-FEED engineering and issued invitations to tender for floating production facilities. Treasurer Jim Chalmers said the Petroleum Resource Rent Tax will generate higher revenue than forecast, with no changes planned to existing tax rules.
May 10, 2026
National Grid’s New 2026 Grid Plan Could Be the Stock’s Next Big Test
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National Grid’s New 2026 Grid Plan Could Be the Stock’s Next Big Test

National Grid’s distribution business published a 10-year Network Development Plan on Friday, detailing how local electricity networks will handle rising demand and new connections. The plan features a digital map showing network capacity, constraints, and potential fixes. National Grid shares closed up 0.33% ahead of full-year results due May 14, while the FTSE 100 fell 0.4%.
May 9, 2026
BP PLC’s Big Reset Is Here: Meg O’Neill Starts June Overhaul as Carbon Capture Stakes Go on Block
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BP PLC’s Big Reset Is Here: Meg O’Neill Starts June Overhaul as Carbon Capture Stakes Go on Block

BP CEO Meg O’Neill told staff the company will reorganize in June, returning to a structure focused on upstream and downstream units. BP is also selling part of its stakes in two UK carbon capture projects as construction begins. Net debt rose to $25.3 billion in the first quarter. The company did not disclose buyers or the size of the stakes for sale.
May 9, 2026
Shell’s $6.9 Billion Profit Beat Has a Catch: Lower Buybacks and Qatar Risk
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Shell’s $6.9 Billion Profit Beat Has a Catch: Lower Buybacks and Qatar Risk

Shell began a $3 billion share buyback after reporting first-quarter adjusted earnings of $6.92 billion, beating analyst expectations. The company raised its dividend by 5% to $0.3906 a share but cut the buyback from $3.5 billion last quarter. Net debt increased to $52.6 billion as cash flow from operations dropped to $6.1 billion. China’s April crude imports fell 20% amid Middle East supply disruptions.
May 9, 2026
National Grid Results: The £70 Billion Question Facing the UK Utility Before Earnings
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National Grid Results: The £70 Billion Question Facing the UK Utility Before Earnings

National Grid shares rose 0.33% in London on Friday ahead of its May 14 full-year results and scrutiny of its £70 billion investment plan. The company flagged a net hit of about 1 pence to EPS from U.S. regulatory refunds and storm costs but said annual performance was in line with expectations. Ofgem has approved £28 billion in UK network upgrades for 2026-2031. National Grid accepted the RIIO-T3 settlement in March.
May 9, 2026
National Grid’s New 2026 Grid Map Puts £70 Billion Upgrade Plan Under Fresh Investor Pressure
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National Grid’s New 2026 Grid Map Puts £70 Billion Upgrade Plan Under Fresh Investor Pressure

National Grid’s distribution arm published its 2026 Network Development Plan, outlining where local grid upgrades may be needed over the next decade. The release comes ahead of full-year results and after JPMorgan cut its price target to 1,440 pence. Shares rose 0.41% to 1,278.60 pence on Friday. Investors remain focused on U.S. storm costs, refund charges, and UK grid spending.
May 8, 2026
IEA’s 2030 LNG Warning Is Pushing NextDecade to Charter More Ships
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IEA’s 2030 LNG Warning Is Pushing NextDecade to Charter More Ships

The IEA said the Iran war has removed about 120 billion cubic metres of global LNG supply from 2026-2030. NextDecade plans to charter more LNG carriers for its Rio Grande project as shipping risks rise and long-term contracts return. European Union gas storage is 30% below its five-year average. NextDecade expects first LNG from Rio Grande in early 2027.
May 8, 2026
France Fuel Prices Shift Before May 8 Long Weekend As Diesel Falls And Gasoline Edges Higher
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France Fuel Prices Shift Before May 8 Long Weekend As Diesel Falls And Gasoline Edges Higher

Diesel prices in France fell 1.1 cents to €2.216 per litre on Thursday but stayed above €2.20, according to official data. TotalEnergies capped holiday weekend prices at €2.09 for diesel and €1.99 for gasoline across its network. Government figures showed 96% of stations had no supply issues, though local queues were possible. Brent crude traded at $101.98 a barrel after reports of tensions over the Strait of Hormuz.
May 7, 2026
Oil Prices Are Falling. Germany’s Cars And Buses Still Face A Hidden Supply Shock
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Oil Prices Are Falling. Germany’s Cars And Buses Still Face A Hidden Supply Shock

Some German automakers face shortages of Group III base oils used in synthetic motor oils, as supplies remain stuck in the Mideast Gulf amid continued closure of the Strait of Hormuz, Argus Media reported. European spot prices for a key Group III grade have risen 70% since the war began. Brent crude swung sharply on Thursday, dropping to $96.44 before rebounding above $101 as traders reacted to mixed signals on a U.S.-Iran deal.
May 7, 2026
Suncor’s C$2.1 Billion Profit Reveals Canada’s Jet-Fuel Opening
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Suncor’s C$2.1 Billion Profit Reveals Canada’s Jet-Fuel Opening

Suncor Energy reported C$2.1 billion in first-quarter net earnings, driven by record refined product sales of 680,900 barrels a day and strong exports to markets including Puerto Rico and the Philippines. Net earnings rose from C$1.69 billion a year earlier. The company shipped 14 diesel cargoes from Vancouver in the quarter, up sharply from last year. Upstream production reached 875,200 barrels a day.
May 7, 2026
ABO Energy Founder Families Pledge 1.86 Million Shares, Putting Financing Plan Under Market Scrutiny
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ABO Energy Founder Families Pledge 1.86 Million Shares, Putting Financing Plan Under Market Scrutiny

ABO Energy founder families pledged nearly 1.86 million shares—about 20% of the company’s capital—as collateral for loans, according to filings disclosed May 4. The pledges come as ABO Energy faces a creditor standstill after a major profit warning and ongoing restructuring. The Ahn and Bockholt families together hold 52% of shares. The pledged shares have a market value of roughly 11 million euros.
May 5, 2026
Reliance Jamnagar Refinery Shutdown: Why India’s Fuel Supply Faces a Mid-May Test
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Reliance Jamnagar Refinery Shutdown: Why India’s Fuel Supply Faces a Mid-May Test

Reliance Industries will shut a crude unit and some secondary units at its 660,000 bpd Jamnagar refinery for three to four weeks from mid-May, sources said. The shutdown follows delayed maintenance and coincides with Nayara Energy’s expected restart of its 400,000 bpd Vadinar refinery. Reliance has increased LPG output more than threefold to offset lost imports. Reliance shares closed nearly flat at 1,463.60 rupees.
May 5, 2026
South Africa Diesel Price Error Cuts May Hike, But R30 Fuel Shock Remains
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South Africa Diesel Price Error Cuts May Hike, But R30 Fuel Shock Remains

South Africa’s Central Energy Fund corrected a diesel pricing error Tuesday, reducing May’s wholesale diesel increase to R5.27 a litre from R6.19. Wholesale diesel still rises above R30 a litre from Wednesday, with petrol up 327 cents and a slate levy adding 122.70 cents a litre. The fuel hike follows Brent crude averaging $101 a barrel amid supply disruptions. Economists warned of rapid inflationary effects.
May 5, 2026
Japan’s Russian Oil Cargo Arrives as Hormuz Crisis Forces Tokyo’s Hand
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Japan’s Russian Oil Cargo Arrives as Hormuz Crisis Forces Tokyo’s Hand

The Oman-flagged tanker Voyager, carrying Russian Sakhalin Blend crude for Taiyo Oil, arrived off Imabari, Japan, on Monday but could not berth due to rough seas. This marks Japan’s first Russian oil delivery since Iran-related disruptions cut Gulf supply. Taiyo said the shipment followed a government request and was cleared by Western authorities as outside Russian sanctions.
May 4, 2026
National Grid Stock Faces May 14 Earnings Test as U.S. Refund Hit Clouds £70 Billion Grid Plan
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National Grid Stock Faces May 14 Earnings Test as U.S. Refund Hit Clouds £70 Billion Grid Plan

National Grid’s London shares did not trade Monday due to the UK bank holiday, while its New York ADR fell $1.12 to $87.36. Investors await May 14 full-year results after the company warned of a roughly 1 pence EPS hit from U.S. regulatory refunds and storm costs. U.S. peers Eversource and Avangrid are pressing FERC for higher allowed returns after a recent rate cut and $1.5 billion refund order.
May 4, 2026
Shell Plc Bets Bigger On Gulf Of Mexico As Ineos Tie-Up Puts Fort Sumter Back In Play
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Shell Plc Bets Bigger On Gulf Of Mexico As Ineos Tie-Up Puts Fort Sumter Back In Play

Shell and Ineos Energy are advancing oil and gas exploration near the Appomattox platform in the Gulf of Mexico, including development of the Fort Sumter discovery, The Times reported. The move comes as Shell faces scrutiny over reserve replacement and follows its $14 billion deal to buy Canada’s ARC Resources. Ineos gained its Appomattox stake after acquiring CNOOC’s Gulf assets in April 2025. Shell holds a 79% interest in Appomattox, Ineos 21%.
May 4, 2026
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