The Trump administration extended a waiver for Lukoil PJSC’s gas stations outside of Russia, allowing them to continue operations until late April 2026.  The measure by the US Treasury Department’s Office of Foreign Assets Control could help ease concerns about sudden disruptions across Europe and the Americas, where Russia’s second-largest oil producer has retail operations.  As Russia’s most internationally diversified oil firm, Lukoil has stakes in European oil refineries as well as significant holdings in oil fields from Iraq to Kazakhstan. Its brand also extends to filling stations from the US to Belgium and Romania. Washington’s move shows that even as the US tightens the screws on Moscow, it’s willing to make targeted exceptions to prevent an unnecessary shock to local economies. Retail fuel networks in nations from the Balkans to Central Europe rely on international suppliers, and abrupt cutoffs risk spilling into fuel shortages, higher prices or operational headaches for foreign partners.  The decision lands with a key Dec. 13 deadline looming for Lukoil to offload its international assets. 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 professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.

Var Energi ASA on Thursday confirmed a new oil discovery on Norway’s side of the Barents Sea, the second discovery in weeks in its ongoing Goliat Ridge drilling campaign. Located five kilometers (3.11 miles) north of the producing Goliat field, operated by Var Energi, the Goliat North exploration well encountered hydrocarbons in the Realgrunnen and Kobbe formations, the Norwegian company said in an online statement. Estimated gross recoverable resources are up to five million barrels of oil equivalent (MMboe). “Including the latest discovery, the Goliat Ridge is estimated to contain gross discovered resources of 39-108 MMboe and with additional prospective resources taking the total gross potential to up to 200 MMboe”, Var Energi said. “A tie-back of the Goliat Ridge discoveries to the nearby Goliat FPSO [floating production, storage and offloading vessel] is being planned”. Goliat Nord, or well 7122/7-8, aimed to prove hydrocarbons in Lower Jurassic/Upper Triassic and Middle Triassic rocks in the Realgrunnen Subgroup and the Kobbe Formation respectively, according to the Norwegian Offshore Directorate (NOD). “Well 7122/7-8 S encountered an eight-meter [26.25 feet] gas/oil column in the Tubaen Formation in the Realgrunnen Subgroup in reservoir rocks totaling 6.5 meters, with good reservoir quality”, the NOD reported separately. “The gas/oil contact was encountered 1,255 meters below sea level. The oil/water contact was not encountered. “The well also encountered a six-meter gas/oil column in the Fruholmen Formation in the Realgrunnen Subgroup in reservoir rocks with good reservoir quality. The gas/oil contact was encountered 1,285 meters below sea level. The oil/water contact was encountered 1,290 meters below sea level. “In the Kobbe Formation, the well encountered a 17-meter oil column in reservoir rocks totaling 12 meters, with good reservoir quality. The oil/water contact was encountered 2,048 meters below sea level”. Goliat North was drilled to a vertical depth of 2,197 meters below

Thailand’s state-owned PTT Exploration and Production Public Company Ltd (PTTEP) on Thursday announced a spending budget of around $7.73 billion for 2026, targeting an eight percent sales volume increase to 556,000 barrels of oil equivalent a day (boed). “This growth reflects strong momentum from our operational expansion in Thailand and overseas this year, which has already translated into higher sales volume and revenue, and will continue to support our performance into 2026 and beyond”, PTTEP chief executive Montri Rawanchaikul said in an online statement. Of the 2026 budget, $5.16 billion is for capital expenditure and $2.56 billion is for operating expenditure. PTTEP said it aims to maximize volumes from current producing assets to strengthen the Southeast Asian country’s energy security. “Main producing projects include G1/61 (Erawan, Platong, Satun and Funan fields), G2/61 (Bongkot field), Arthit, S1, Contract 4 projects and projects in the Malaysia-Thailand Joint Development Area”, PTTEP said. “This plan also includes other overseas projects in Malaysia, Oman and Algeria. The capex budget of USD 3,605 million (equivalent to THB 118,064 million) is allocated to support these activities”. It said it has allotted $118 million for emission reduction activities including a carbon capture and storage (CCS) project in the Arthit field in the Gulf of Thailand. It announced a positive final investment decision on the CCS project on September 8, earmarking a five-year investment of $320 million. Expected to start operations 2028, the project is designed to capture and store up to one million metric tons of carbon dioxide a year. The 2026 plan also involves “accelerating the activities of key projects under the development phase, including Ghasha Concession, Abu Dhabi Offshore 2, Mozambique Area 1, Malaysia greenfields such as Malaysia SK405B, Malaysia SK417 and Malaysia SK438 Projects, to achieve production start-up timelines as planned, with the allocated capex budget

The U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy announced the release of a memo by the Deputy Secretary of Energy that describes a framework designed to minimize foreign risks to the scientific enterprise of DOE and the National Nuclear Security Administration (NNSA). The newly published Research, Technology & Economic Security (RTES) Framework highlights DOE’s goals, process, high level risk factors, and commitment to mitigation when assessing RTES risk. This framework outlines a harmonized approach across all DOE/NNSA funding offices that undertakes to protect DOE’s early-stage research and development (R&D) in academic settings, applied R&D stage projects, and demonstration and deployment stage projects while maintaining an open collaborative, and world leading scientific enterprise. The framework also highlights DOE’s commitment to mitigation when assessing RTES risk and outlines its goals and processes. Join an RTES Informational Webinar To Learn More To assist the applicant and recipient community in understanding and adapting to the recently published framework, DOE will host a webinar to introduce the approach and answer questions. Funding awardees and prospective applicants are encouraged to review the framework and attend Monday, December 16, 2024. Register today. About DOE’s RTES Office DOE’s Office of Research, Technology & Economic Security (RTES), situated in DOE’s Office of International Affairs, undertakes several risk mitigation activities that support DOE’s responsibility to protect federal funding from undue foreign influence and to accomplish its mission in ways that protect and further energy security and technological advancement of the United States. Specifically, RTES identifies and addresses potential security risks that threaten the scientific enterprise; establishes best practices for programs; conducts outreach activities for stakeholders; educates Department programs on potential security risks; and conducts or facilitates risk assessments of DOE proposals, loans, and awards. More information about RTES’s mission, activities, events, and ways to get involved

Spotlight on Success: First Megawatt-Scale Demonstration of Hydrogen Fuel Cells for Data Center Backup Power Earlier this year, Caterpillar Inc. announced successful completion of a first-of-a-kind collaboration with Microsoft and Ballard Power Systems to demonstrate the viability of using large-format hydrogen fuel cells to supply reliable backup power for data centers.  The demonstration, hosted at Microsoft’s Cheyenne, Wyoming, data center, simulated a 48-hour power outage, providing critical insights into the capabilities of fuel cell systems to power multi-megawatt data centers, ensuring uninterrupted power supply to meet 99.999% uptime requirements. Caterpillar served as project lead, providing overall system integration, power electronics, and microgrid controls that form the central structure of the hydrogen power solution. Hardware for the demonstration included two Caterpillar power grid stabilization storage systems alongside a 1.5-MW hydrogen fuel cell supplied by Ballard Power Systems. Over the course of the project, researchers evaluated the cost and performance of the fuel cell system including analysis of key performance characteristics such as power transfer time and load acceptance. Launched in 2020 and completed this year, the project was supported and partially funded by DOE under the H2@Scale initiative, which brings stakeholders together to advance affordable hydrogen production, transport, storage, and utilization in multiple energy sectors. During the demonstration, researchers at DOE’s National Renewable Energy Laboratory (NREL) analyzed safety, techno-economics, and greenhouse gas impacts.

To support and advance future maritime fuel technology and investment, the U.S. Department of Energy (DOE) released a Request for Information (RFI) to establish a consistent and reliable definition for sustainable maritime fuel (SMF) that informs and aligns community, industry, governments, and other maritime stakeholders. The Action Plan for Maritime Energy and Emissions Innovation (Action Plan), a summary of which was released in December 2024, builds on the 2023 U.S. National Blueprint for Transportation Decarbonization to define actions that aim to achieve a clean, safe, accessible and affordable U.S. maritime transportation system. The Action Plan calls for the federal government to define “Sustainable Maritime Fuel,” which is critical to evaluating and determining future SMF production volume goals in the Action Plan and alternative fuels that align with the U.S. 2050 net emission goals. “The global maritime sector is pursuing sustainable maritime fuels. The United States is well positioned to be a global leader in producing, distributing, and selling these sustainable fuels that can provide more affordable options to the market,” said Michael Berube, deputy assistant secretary for sustainable transportation and fuels, Office of Energy Efficiency and Renewable Energy. “This Request for Information will help align the industry around common definitions, enabling broader adoption across the economy.” The U.S. maritime sector connects virtually every aspect of American life—from our clothes and food, to our cars, and the oil and natural gas used to heat and cool homes. About 99% of U.S. overseas trade enters or leaves the United States by ship. This waterborne cargo and associated activity contribute more than $500 billion to the U.S. gross domestic product and sustain over 10 million U.S. jobs. However, the Action Plan estimates the total amount of greenhouse (GHG) emissions from fuel sold in the United States for use in maritime applications accounts for 4% of the U.S. transportation sector’s GHG