JERA Co Inc and BP PLC’s offshore wind joint venture has indefinitely shelved the proposed Beacon Wind project in the United States. “JERA Nex bp has taken the difficult decision to reduce our activities in the U.S. to a minimal level and will close our operating activities in the market”, JERA Nex bp said in a statement on its website. “Unfortunately, as a result of this, all team members will leave the company in the coming months. “The U.S. is a market with significant long-term potential for offshore wind, which we still believe can play a key role in the country’s energy transition. Unfortunately, in the present environment we see no viable path to the development of our Beacon wind project and have concluded that we cannot continue our investment in the market. “For now, we will continue to maintain the Beacon lease and wait for a more favorable moment to resume project development”. Beacon Wind has a planned capacity of 2.5 gigawatts, enough to power about one million homes across the northeastern U.S., according to BP. The proposed project has secured 128,000 acres in federal waters between Cape Cod, Massachusetts, and Long Island, New York, according to BP. The U.S. government’s online Permitting Dashboard shows Beacon Wind’s permitting process has been paused since June. Upon taking office for his second non-consecutive term, President Donald Trump on January 20 ordered an indefinite pause of wind leasing in the Outer Continental Shelf to allow for a review of permitting considerations, saying environmental analyses had been inadequate. The halt means no new leases would be awarded. For existing leases, “the secretary of the interior, in consultation with the attorney general as needed, shall conduct a comprehensive review of the ecological, economic and environmental necessity of terminating or amending any existing wind energy leases”,

WASHINGTON—U.S. Department of Energy (DOE) Secretary Chris Wright and Qatari Minister of State for Energy Affairs Saad Sherida Al-Kaabi sent a letter today to the Heads of State of European Union (EU) Member States, regarding the European Union’s proposed Corporate Sustainability Due Diligence Directive (CSDDD). Click here to read the letter or see the full text below. An Open Letter to the Heads of State of European Union (EU) Member States Dear Leaders of European Union Member States, We write to you today at a pivotal moment for the EU’s energy security and economic competitiveness. As two of its most trusted partners and the world’s leading LNG producers, we reaffirm our deep commitment to supporting the EU’s prosperity and stability. We write in this spirit, united in our views, to express our deep concern over the continued lack of action to address the universally acknowledged, serious, and legitimate concerns raised by the global business community regarding the Corporate Sustainability Due Diligence Directive (CSDDD). Particularly its unintended consequences for LNG export competitiveness and the availability of reliable, affordable energy for EU consumers. Over the past year, our two countries have engaged in constructive dialogue with representatives from numerous EU governments regarding the contents of the CSDDD, offering specific recommendations to avoid the unintended consequences we have previously raised. While we appreciate the efforts of those Member States that have welcomed dialogue, the broader lack of substantive engagement on these critical issues is deeply concerning, especially given the far-reaching implications of the legislation. We have consistently and transparently communicated how the CSDDD, as it is worded today, poses a significant risk to the affordability and reliability of critical energy supplies for households and businesses across Europe and an existential threat to the future growth, competitiveness, and resilience of the EU’s industrial economy.

Halliburton Energy Services Inc and VoltaGrid LLC have announced a collaboration to deliver power solutions to data centers. “Under this agreement, VoltaGrid and Halliburton will combine their complementary strengths to develop, deploy and operate advanced, efficient and sustainable power generation systems utilizing turbines, reciprocating engines and VoltaGrid’s proprietary QPac platform”, the United States companies said in a joint statement. “The collaboration aims to meet the growing demand for reliable, lower-emission energy infrastructure in a rapidly expanding digital and industrial landscape. “Through the venture, Halliburton will leverage its global operational footprint, local infrastructure and regional regulatory expertise, while VoltaGrid will contribute its proprietary engineering design, technology innovation and procurement capabilities. “Together, the companies plan to offer turnkey distributed power generation solutions tailored to the needs of regional data centers based on a proven platform. “The collaboration will enable VoltaGrid’s existing large-scale data center customer base access to a global footprint via Halliburton’s operational excellence that is well suited for execution certainty, reliability and performance”. The partnership initially targets the Middle East, with an eye for key emerging markets. Earlier Houston, Texas-based gas power solutions provider VoltaGrid announced an agreement with Oracle Corp to deliver technology to enable the supply of natural gas electricity to the information technology major’s data centers. VoltaGrid will deploy 2.3 gigawatts (GW) of “cutting-edge, ultra-low-emissions infrastructure, supplied by Energy Transfer’s pipeline network, to support the energy demands of Oracle Cloud Infrastructure’s (OCI) next-generation artificial intelligence data centers”, it said in a press release October 15. “The VoltaGrid power infrastructure will be delivered through the proprietary VoltaGrid platform – a modular, high-transient-response system developed by VoltaGrid with key suppliers, including INNIO Jenbacher and ABB”. “This power plant deployment is being supplied with firm natural gas from Energy Transfer’s expansive pipeline and storage systems”, VoltaGrid added. OCI executive vice president

In Halliburton’s third quarter results statement, which was posted on the company’s site on Tuesday, Halliburton Chairman, President, and CEO Jeff Miller said he is “pleased” with Halliburton’s third quarter performance. In the statement, the company announced a net income of $18 million, or $0.02 per diluted share, and adjusted net income, excluding “impairments and other charges” and other items, of $496 million, or $0.58 per diluted share, for the third quarter. Net income for the second quarter was $472 million, or $0.55 per diluted share, Halliburton highlighted in the statement. The company went on to note that Halliburton’s total revenue for the third quarter was $5.6 billion, compared to total revenue of $5.5 billion in the second quarter. Operating income was $356 million in the third quarter, compared to operating income of $727 million in the second quarter, Halliburton highlighted, adding that adjusted operating income in the third quarter, excluding “impairments and other charges”, was $748 million. Halliburton’s stock price opened at $24.43 on Tuesday and closed at $25.24. The stock opened at $22.30 on Monday and closed at $22.62. “We delivered total company revenue of $5.6 billion dollars and adjusted operating margin of 13 percent,” Miller said in the statement. “We also took steps that will deliver estimated savings of $100 million dollars per quarter, reset our 2026 capital budget and idled equipment that no longer meets our return expectations,” he added. In the statement, Halliburton pointed out that international revenue in the third quarter was $3.2 billion, which it described as “flat when compared to the second quarter”. Latin America revenue in the third quarter was $996 million, Halliburton revealed, adding that this was an increase of two percent sequentially. This increase was primarily driven by higher project management activity across the region and increased drilling services in

In a report sent to Rigzone by the Macquarie team late Monday, Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be down by 2.5 million barrels for the week ending October 17. “This follows a 3.5 million barrel build in the prior week, with the crude balance realizing modestly tighter than our expectations,” the strategists said in the report. “For this week’s balance, from refineries, we model an increase in crude runs (+0.3 million barrels per day) following a surprisingly weak print last week; turnaround timing represents a source of meaningful potential variability in this week’s stats,” they added. “Among net imports, we model a moderate reduction, with exports higher (+0.6 million barrels per day) and imports up slightly (+0.1 million barrels per day) on a nominal basis,” they continued. The strategists also warned in the report that the timing of cargoes remains a source of potential volatility in this week’s crude balance. “From implied domestic supply (prod.+adj.+transfers), we look for a slight decrease (-0.1 million barrels per day) on a nominal basis this week,” the strategists went on to note. “Rounding out the picture, we anticipate a slightly larger increase (+0.9 million barrels) in SPR [Strategic Petroleum Reserve] stocks this week,” they added. The strategists stated in the report that, “among products”, they “look for draws in gasoline (-4.0 million barrels) and distillate (-1.2 million barrels), with a build in jet (+0.5 million barrels)”. “We model implied demand for these three products at ~14.4 million barrels per day for the week ending October 17,” the strategists added. In its latest weekly petroleum status report at the time of writing, which was released on October 16 and included data for the week ending October 10, the U.S. Energy Information Administration (EIA) highlighted that

Egypt is embarking on a plan to buy more oil products for power generation as the cash-strapped North African nation frees up gas for LNG exports, as part of efforts to repay money it owes to foreign operators. State-owned Egyptian General Petroleum Corp. plans to buy more than a million tons of diesel, gasoline and butane gas for delivery in November, up 60 percent from the same period last year, according to people familiar with the matter, who asked not to be identified as they’re not authorized to speak to the media. Egypt’s energy ministry didn’t respond to a request for comment. Egypt is seeking to encourage renewed investment by foreign energy companies, which have reduced financing in the country after years of waiting for the government to repay money it owes them. Declining domestic gas output amid surging local demand led Egypt to become a net importer of liquefied natural gas last year in order to avoid blackouts. That has added new financing strains on the government which is emerging from its worst economic crisis in decades. To break this cycle, Cairo decided to allow foreign energy operators to export their share of local gas production as LNG as a way to get their arrears paid and to go ahead with investments in Egypt’s gas output. Three LNG cargoes have been exported since September, including one that the government said was shipped from Egypt’s Idku terminal on behalf of Shell Plc. The government is now in talks with the foreign energy companies to allow them to produce volumes for two shipments every month for loading between November and March from Idku, according to the people.  Egypt’s production of crude oil and condensate fell to 486,000 barrels a day in July, the lowest in decades, according to data from Joint Oil