In its latest short term energy outlook (STEO), which was released on January 13, the U.S. Energy Information Administration (EIA) projected that U.S. total energy consumption will drop in 2026 and rise in 2027. According to its latest STEO, the EIA now sees U.S. total energy consumption coming in at 95.37 quadrillion British thermal units (qBtu) this year and 95.96 qBtu next year. In 2025, U.S. total energy consumption was 96.06 qBtu the STEO showed. A quarterly breakdown included in the EIA’s latest STEO projected that U.S. total energy consumption will come in at 24.74 qBtu in the first quarter of this year, 22.39 qBtu in the second quarter, 24.03 qBtu in the third quarter, 24.21 qBtu in the fourth quarter, 24.88 qBtu in the first quarter of next year, 22.61 qBtu in the second quarter, 24.26 qBtu in the third quarter, and 24.21 qBtu in the fourth quarter of 2027. The EIA’s January STEO showed that total energy demand was 25.45 qBtu in the first quarter of 2025, 22.45 qBtu in the second quarter, 24.06 qBtu in the third quarter, and 24.09 qBtu in the fourth quarter. Liquid Fuels, NatGas In its latest STEO, the EIA projected that U.S. liquid fuels consumption will stay flat in 2026, then rise next year. According to the EIA’s January STEO, the EIA sees U.S. liquid fuels averaging 20.61 million barrels per day in 2026 and 20.69 million barrels per day in 2027. This demand came in at 20.61 million barrels per day in 2025, the STEO showed. The STEO projected that U.S. liquid fuels consumption will average 20.22 million barrels per day in the first quarter of this year, 20.69 million barrels per day in the second quarter, 20.81 million barrels per day in the third quarter, 20.71 million barrels per day

Uniper SE has won an electricity supply contract from nLighten HQ BV covering all the latter’s data center sites across Germany. “Under the agreement, Uniper is to supply both standard power for nLighten’s German locations and a guaranteed base load supply of hydroelectric power, ensuring a constant CO2-free energy supply with exceptional traceability on an hourly basis”, said a joint statement Tuesday. The companies did not disclose the volume or duration of the contract, which involves an around-the-clock power supply. Munich-based TÜV Süd AG will provide certification for the renewable power for origin verifiability on an hourly basis, the statement said. “Instead of relying on annual renewable energy certificates, nLighten can now track the specific hydropower production that supports its operations on an hourly basis”, the companies said. “The flexible structure allows it to add additional renewable energy sources such as hydropower, wind or solar when demand increases in its German portfolio, with everything handled through Uniper as the balancing party”. “[C]onventional renewable energy certificates issued annually may claim to be ‘100 percent renewable’ but data centers often continue to purchase carbon-intensive electricity during peak times”, the statement noted. “Uniper’s 24/7 solution closes this gap: companies can prove that their digital infrastructure is powered by verified carbon-free energy hour by hour, which is verified for our German operations by third-party certification”. German power and gas utility Uniper says it has 14 gigawatts of flexible power generation capacity. Schiphol-Rijk, Netherlands-based nLighten, meanwhile, has projects across Europe. Last week Uniper and TenneT BV announced an agreement to develop a new central network node in Großkrotzenburg, Germany to serve data center-driven growth in power demand in the greater Frankfurt area. “The core of the project is the construction of a new 380-kilovolt switchyard, which will create extensive additional capacity for urgently needed customer

In a report sent to Rigzone recently, Standard Chartered Bank Energy Research Head Emily Ashford outlined that Standard Chartered expects oil market sentiment “to gradually turn more positive”. “We expect [crude oil] market sentiment to gradually turn more positive as the bearish oversupply narrative so prevalent in H2-2025 weakens, and traders turn their attention to a more positive H2-2026,” Ashford stated in the report. “We expect the supply glut estimates of the main market commentators to be revised towards more seasonal norms, although prices are likely to remain in the low to mid $60s per barrel,” Ashford added. Ashford also outlined in the report that Standard Chartered expects “an uptick in volatility and increasing focus on risks to both supply and demand”. The Standard Chartered Bank Energy Research Head went on to note in the report that “low prices have begun to quash U.S. shale output growth” and added that, “if OPEC+’s gradual return of barrels recommences in Q2-2026, this would start to highlight the tightness and geographic concentration of spare capacity, which should be price supportive in the medium term”. In the U.S. Energy Information Administration’s (EIA) latest short term energy outlook, which was released earlier this month, the EIA projected that Lower 48 States crude oil production, including lease condensate and excluding the Gulf of America, will drop from 11.28 million barrels per day in 2025 to 11.11 million barrels per day this year. Total U.S. crude oil output, including lease condensate, is forecast in the STEO to drop from 13.61 million barrels per day in 2025 to 13.59 million barrels per day in 2026. A statement posted on OPEC’s website on January 4 revealed that, in a meeting held that day, Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman “reaffirmed their decision on 2 November

Woodside Energy Group Ltd’s output in 2025 exceeded guidance and set a company record but it expects a slowdown in 2026 due to downtime from preparations to start up the Scarborough Energy Project. The Perth-based liquefied natural gas (LNG)-focused producer on Wednesday reported 198.8 million barrels of oil equivalent (MMboe) in production last year, beating the company’s forecast of 192-197 MMboe. “This performance was driven by sustained plateau production at Sangomar [offshore Senegal] through late October and Pluto LNG operating at 100 percent reliability for the second half of the year”, acting chief executive Liz Westcott said in the company’s quarterly statement of results. This year Woodside expects to produce 172-186 MMboe. The projected year-on-year drop “reflects planned downtime at Pluto as we prepare the facility to begin processing Scarborough gas and for first LNG cargo in Q4 2026”, Westcott said. Westcott was referring to the Scarborough Energy Project, which includes the development of the Scarborough field off the coast of Karratha, the construction of a second gas processing train for Pluto LNG with a capacity of five million metric tons per annum (MMtpa) and modifications to Pluto Train 1, according to Woodside. Woodside expects the project to produce up to eight MMtpa of LNG and supply 225 terajoules per day of gas to the Western Australian market. In the fourth quarter of 2025 Woodside produced 48.9 MMboe, down four percent from the prior three-month period and five percent against Q4 2024. Q4 2025 production consisted of 1.71 billion cubic feet a day (Bcfd) of natural gas and 232,000 barrels per day (bpd) of liquids. The decrease was “driven by seasonal weather impacts and lower Australian east-coast demand”, Woodside said. The decline also follows Woodside’s sale of producing oil and gas assets in Greater Angostura in Trinidad and Tobago to Perenco,

Italian energy major Eni SpA has held talks with Mercuria Energy Group over a potential partnership in commodity trading, according to people familiar with the matter. The talks follow a period of bumper profitability for the energy trading industry, as major producers look to increase margins on oil and gas sales. Spokespeople for Eni and Mercuria declined to comment. The negotiations are still ongoing and a partnership agreement may not be finalized, according to the people, who asked not to be named to discuss private information. It wouldn’t be the only trading partnership under discussion in the industry. Bloomberg reported last year that Indian Oil Corp. was planning to form a trading joint venture and had held talks with Vitol Group about it. Meanwhile, Mercuria itself has a metals partnership with the Democratic Republic of Congo’s state miner Gecamines. Geneva-headquartered Mercuria is one of a group of major energy trading houses that made record profits as oil, gas and power markets fractured following Russia’s full-scale invasion of Ukraine. The company has paid out $5.5 billion in dividends over the last three years to shareholders, with the largest recipients being former Goldman Sachs Group Inc. traders Marco Dunand and Daniel Jaeggi. Profits totaled $1.31 billion in its last financial year through September, according to accounts seen by Bloomberg News. Eni has a sizable trading operation around its portfolio of gas, liquefied gas, oil and power producing assets. London is a key hub for the trading unit, which also has regional desks in Singapore and Houston. 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

ConocoPhillips, TotalEnergies SE and Libya’s National Oil Corp (NOC) have signed an agreement extending the onshore Waha concessions to December 2050. “This agreement sets new fiscal terms allowing to increase the production of these concessions that are currently producing around 370,000 barrels of oil equivalent per day (boed)”, French energy giant TotalEnergies said in an online statement. “Therefore, it paves the way for a new phase of investments, including the development of the North Gialo field, which is expected to add 100,000 boed of production”. Patrick Pouyanné, TotalEnergies chair and chief executive, said, “Extending the Waha concession, with its low-cost and low-emission giant resources offering many opportunities to grow production, fits perfectly with our strategy”. The North African country, where TotalEnergies has been present since 1956, accounted for 113,000 boed of the company’s 2025 production, the statement noted. These came from the Waha concessions, where TotalEnergies owns a 20.42 percent stake; the offshore Al Jurf field, where TotalEnergies holds 37.5 percent; the onshore El Sharara field, which straddles the former Block NC 115, owned 15 percent by TotalEnergies, and the former Block NC 186, where TotalEnergies has a 12 percent ownership; and the onshore Mabruk field, where TotalEnergies owns 37.5 percent. NOC operates the Waha concessions with a 59.16 percent through Waha Oil Co. Houston, Texas-based ConocoPhillips owns 20.42 percent. The new concession deal was signed during the Libya Energy and Economy Summit in Tripoli. NOC said in a press release November 3, 2025 the partners plan to drill seven exploration wells in the concessions in 2026. Plans for Waha this year also include a seismic survey and the processing and reprocessing of existing seismic data according to the release. In 2025 NOC announced two production well startups and one production well restart. On September 12, 2025 it said it had