Turkiye’s state-owned BOTAS has signed separate 10-year agreements for the supply of liquefied natural gas (LNG) from SEFE Securing Energy for Europe GmbH and Eni SpA. Germany’s state-owned SEFE will deliver about five million metric tons per annum (MMtpa) from the fourth quarter of 2028. “This long-term contract builds on the three-year deal concluded earlier this year, through which SEFE is providing over 1.5 million tons of LNG in total”, SEFE said in an online statement Wednesday. “The LNG [under the new agreement] will be delivered from SEFE’s growing global LNG portfolio, which includes a stable foundation of long-term U.S. LNG volumes”, SEFE said. Italy’s state-backed Eni will supply BOTAS around 0.4 MMtpa. The agreement is on top of an earlier one signed September under which BOTAS committed to buying 0.4 MMtpa of LNG for three years from Eni. BOTAS said September 12 it had signed agreements with Eni, SEFE, BP PLC, Cheniere Energy Inc, Equinor ASA, Hartree Partners LP, JERA Co Inc and Shell PLC for around 15 billion cubic meters (529.72 billion cubic feet) of LNG. The volumes are to be delivered to Turkiye in 2025-28.   Eni said in a press release Wednesday, “The agreement is Eni’s first long-term LNG sale to Turkiye, confirming the growing role of LNG in supporting the country’s energy needs, and is in line with Eni’s strategy to diversify its global LNG footprint, expanding its customer base in markets with high potential and growing its LNG portfolio to approximately 20 MTPA [million metric tons per annum] by 2030, leveraging its projects in Congo, Mozambique, U.S., Indonesia and other countries”. On Tuesday Eni said the second phase of Congo LNG in the Republic of the Congo has started operations. The project now has a capacity of three MMtpa or 4.5 billion cubic meters

Eni SpA’s renewables arm Plenitude has signed a binding deal to buy power and gas utility Acea Energia SpA, part of Italy’s Acea SpA. “The transaction also includes a 50 percent share in the capital of Umbria Energy SpA”, a joint statement said Wednesday. “Upon completion of the transaction, Plenitude will pay Acea EUR 460 million ($536.26 million), in addition to recognizing normalized net cash of up to EUR 127 million for a total amount of up to EUR 587 million”. “Furthermore, the agreement provides for a possible additional price component of up to EUR 100 million, which will be payable to Acea based on certain performance objectives to be reported as at 30 June 2027”, the companies added. “As a result of this acquisition, Plenitude will incorporate into its portfolio over 1.4 million retail customers in Italy, thus exceeding the total of 11 million customers in Europe and anticipating by two years the customer base target expected for 2028”, the companies said. Currently Plenitude serves 10 million customers and manages a network of over 22,000 electric vehicle charging points, according to the statement. Eni has set a target of 15 million Plenitude customers by 2030. Eni aims to reach over 5.5 gigawatts (GW) of installed renewable generation capacity this year, toward 10 GW by 2028 and 15 GW by 2030, according to a plan it announced February. As of the third quarter of 2025, it had 4.8 GW of installed renewable capacity, according to its quarterly report October 24. “For the Acea Group, the transaction allows consolidation of the growing focus on activities that have a strong connotation with infrastructure”, Wednesday’s statement said. The parties expect to complete the transaction by June 2026, subject to approval by antitrust authorities. “This transaction will allow us to reinvest in infrastructure, innovation

WASHINGTON—The U.S. Department of Energy (DOE) today released key studies from the National Petroleum Council (NPC) that provide comprehensive recommendations to help modernize America’s energy infrastructure, streamline federal permitting, and remove regulatory barriers that have stalled the development of critical energy projects. The studies, one on gas-electric coordination and the other on oil and natural gas infrastructure permitting, underscore the urgent need for reforms to strengthen grid reliability and expand domestic energy production. The NPC is a federal advisory committee to the Secretary of Energy composed of leaders from oil and natural gas industries, academia, and other stakeholders. These studies were completed at the request of U.S. Secretary of Energy Chris Wright as part of a broader examination of “Future Energy Systems” and support President Trump’s agenda to unleash American energy, accelerate infrastructure build-out, and ensure affordable, reliable and secure energy for American families. “For years, the Biden Administration advanced policies that made it harder to produce American energy,” said U.S. Secretary of Energy Chris Wright. “The National Petroleum Council’s findings confirm what President Trump has said from day one: America needs more energy infrastructure, less red tape, and serious permitting reform. These recommendations will help make energy more affordable for every American household.” “The studies represent a significant collaborative effort to tackle some of the most complex challenges in our energy infrastructure,” said U.S. Department of Energy Assistant Secretary for the Hydrocarbons and Geothermal Energy Office Kyle Haustveit. “The National Petroleum Council recommendations will be instrumental in guiding the Department’s strategies for enhancing grid reliability and streamlining the development of essential energy projects.” The gas-electric coordination study, Reliable Energy: Delivering on the Promise of Gas-Electric Coordination, evaluates how rising natural gas and electricity demand, combined with shifting usage patterns, is straining natural gas pipelines in key regions of the United States. It

Insurance rates for ships calling at ports in the Black Sea are surging after a series of Ukrainian attacks on vessels with links to Moscow.  The cost of covering visits to Russian ports in the Black Sea has jumped more than threefold, according to Marsh, the world’s largest insurance broker. Rates were between 0.25% and 0.3% of the value of the ship prior to the recent incidents, Marsh said.  Underwriters are now charging as much as 1% for some Ukrainian ports in the Black Sea, according to two people involved in the market, who spoke on condition of anonymity.  Ukraine has claimed attacks on two tankers from Russia’s so-called shadow fleet — vessels that operate in secrecy to skirt sanctions. There have been two other incidents also involving Moscow-linked ships since the end of last week. “For Russian port calls, underwriters are pricing in a broader range of possible strike locations and a higher likelihood of repetition,” said Munro Anderson, Head of Operations at Vessel Protect, which is part of Pen Underwriting and one of the world’s largest marine war risk insurance specialists. “As strikes escalate, so does the probability of Russian retaliation against ships connected to Ukraine.” The blasts, three of which took place in the Black Sea, come against a backdrop of strikes on wider Russian oil infrastructure that have elevated the danger of sailing in the region over the last few weeks. President Vladimir Putin said on Tuesday that Russia could retaliate.  Romania’s defense ministry said Wednesday that divers carried out a mission to neutralize a Sea Baby drone 36 miles east of the city of Constanta, underscoring the risks to shipping for Black Sea nations that aren’t Russia and Ukraine too.  Rates “have been seen to grow steadily and in direct response to further attacks which appear increasingly to

Oil edged up after a fresh round of US-Russia talks failed to reach a deal to end Moscow’s war in Ukraine, boosting fears that restrictions on Russian oil supply could remain in place for longer. West Texas Intermediate rose 0.5% to settle near $59, remaining within the tight range prices have been stuck in this week. The Kremlin says talks with a US delegation led by US envoys Steve Witkoff and Jared Kushner were “constructive,” but no deal was made to end the Ukraine war. The talks took place against a backdrop of recent attacks on Russia-linked tankers, with at least one ship manager saying it would stop sending vessels to the country. A deal to end Russia’s war in Ukraine could mean the end of sanctions on Russian oil in a market already staring down concerns about oversupply, providing bearish momentum for crude. Those oversupply fears weren’t heightened, however, after a US government report on Wednesday showed a 574,000 barrel build in crude stocks, smaller than an industry report showing that stockpiles increased by about 2.5 million barrels last week. Gasoline inventories rose the most since May. Geopolitical tensions are keeping the market jittery and adding a risk premium to prices, partly countering surplus concerns. That includes US rhetoric against Venezuela, a major oil producer, with US President Donald Trump suggesting the Pentagon will soon start targeting alleged drug cartels in that country with strikes on land. Oil Prices WTI for January delivery rose 0.53% to settle at $58.95 a barrel in New York. Brent for February settlement gained 0.35% to settle at $62.67 a barrel. What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is a new social experience created for you and all energy

The Russian government’s oil proceeds shrank by almost a third in November from a year ago as weaker crude prices and a stronger currency took their toll on revenues. Oil-related taxes declined by 32% to 413.7 billion rubles ($5.3 billion) last month, according to Bloomberg calculations based on finance ministry data published Wednesday. Combined oil and gas revenue fell by 34% to 530.9 billion rubles.  Lower proceeds from those industries — which have accounted for about a quarter of Russia’s budget so far this year — will ramp up pressure on state finances, burdened by military spending on the war against Ukraine that’s well into its fourth year.  Global crude prices have drifted lower ahead of an expected supply glut, and the discount for Russian blends has gotten even steeper after US President Donald Trump blacklisted the nation’s two largest producers, Rosneft PJSC and Lukoil PJSC, to pressure his counterpart Vladimir Putin to end the war in Ukraine.  On a month-to-month basis, oil revenue almost halved, reflecting the fact that one of Russia’s main oil taxes — a profit-based levy — is paid four times a year in March, April, July and October.  Russia’s finance ministry calculated oil revenue based on the average price of Urals — its key export blend — at $53.68 a barrel in October, 17% lower than a year ago. A stronger currency also contributed to lower revenue, as it means producers receive fewer rubles for each dollar earned by selling a barrel of oil. In October, the Russian currency averaged 81.0089 rubles against the US dollar, 15% stronger than a year earlier. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be