Israel and the US are ratcheting up pressure on Iran, sparking fresh speculation that Washington could be preparing to join in the attack launched by its closest Middle East ally. President Donald Trump said he wants a permanent end to Iran’s path to a nuclear weapon, after an early departure from the Group of Seven leaders meeting in Canada spurred questions about whether the US seeks to end the conflict or escalate it.  “We know exactly where the so-called “Supreme Leader” is hiding. He is an easy target, but is safe there – We are not going to take him out (kill!), at least not for now,” Trump said in a Truth Social post Tuesday. But he said that “our patience is wearing thin” and moments later sent another two-word post: “UNCONDITIONAL SURRENDER!” Israel is preparing to intensify its strikes on Tehran on Tuesday, potentially escalating a war that’s seen the sworn enemies trade missile salvos for five days in a row. The US is also weighing whether to expand its involvement. “Today we will attack very significant targets in Tehran,” Defense Minister Israel Katz said, adding that residents should evacuate. Earlier in the day, a spokesman for the Israel Defense Forces said that, while it’s too early to assess the success of the current campaign in Iran, strikes on the country’s nuclear facilities are “deepening” every day.   “We now have complete and total control of the skies over Iran,” Trump posted on social media Tuesday, crediting US military equipment for helping Israel gain air superiority. Reuters reported that the US military was deploying more fighters and other warplanes to the region. Katz didn’t elaborate on what targets Israel might aim to hit and Trump hasn’t clearly spelled out his next steps. Vice President JD Vance said on X Tuesday

Malaysia’s national oil and gas company has committed to purchasing one million metric tons per annum (MMtpa) for 20 years from Kimmeridge Energy Management Co. LLC’s planned Commonwealth LNG project in Louisiana. Petroliam Nasional Bhd. (Petronas) also entered into a non-binding heads of agreement with Woodside Energy Group Ltd. for the purchase of one MMtpa from the Australian company’s global portfolio, including the under-construction Louisiana LNG, for 15 years. Delivery is set to start 2028. “Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market”, Shamsairi M Ibrahim, Petronas vice president for LNG marketing and trading, said in an online statement. “Commonwealth LNG currently has 4 MTPA [million metric tons per annum] of offtake under long-term agreement, with line of sight toward finalizing its commercial book ahead of a targeted final investment decision in Q3 2025 and anticipated first LNG production in 2029”, Commonwealth said separately. In February the United States Department of Energy (DOE) granted the project a conditional permit to export to countries with no free trade agreement (FTA) with the U.S. To rise along the Calcasieu River on the Gulf Coast near Cameron, the project has a planned capacity of 9.5 MMtpa, equivalent to about 441.4 billion cubic feet per year of natural gas according to Commonwealth. Meanwhile Woodside’s Louisiana LNG reached an FID last April. Louisiana LNG holds a DOE authorization to export a cumulative 1.42 trillion cubic feet a year of natural gas equivalent, or 27.6 MMtpa of LNG according to Woodside, to both FTA and non-FTA countries. The FID was for phase 1, which involves three liquefaction trains with a combined capacity of 16.5 MMtpa. The Woodside-Petronas agreement “is expected to support PETRONAS’ efforts to ensure secure, flexible LNG supply to meet growing demand in Peninsular

Equinor ASA has secured new exploration acreage offshore Brazil in the Santos Basin, awarded under the country’s fifth Open Permanent Concession bidding. The S-M-1617 license is near an existing Equinor block, S-M-1378, “an area with strong potential that we can leverage to reinforce our position in the Santos basin”, Veronica Coelho, Equinor senior vice president and Brazil manager, said in an online statement. “This award provides us with longevity options for Brazil and demonstrates our continuous commitment and appetite to grow in the country”. “Equinor will now work to conduct necessary geological and geophysical assessments for future exploration activities”, the Norwegian majority state-owned energy major said. S-M-1617 is 400 kilometers (248.55 miles) off the coast in waters around 2,600 meters (8,530.18) deep, according to Equinor. Equinor is the sole owner. It said it had paid the government a signature bonus of around BRL 30.5 million ($5.55 million). Elsewhere in the Santos Basin, Equinor expects to start production at the Bacalhau field this year. The development will produce up to 220,000 barrels per day (bpd).  It has an accumulated production potential of over one billion barrels of oil equivalent (Bboe) according to Equinor. Bacalhau straddles two licenses: BM-S-8 and Norte de Carcara. Equinor operates Bacalhau with a 40 percent stake. Exxon Mobil Corp. owns 40 percent and Petrogal Brasil SA holds 20 percent. In another Brazilian basin, Campos, Equinor aims to achieve production at the Raia gas project in 2028. Equinor expects the project to have a natural gas export capacity of 16 million standard cubic meters a day. Raia, which contains the Pao de Açucar, Gavea and Seat and discoveries, has an accumulated production potential of more than one Bboe according to Equinor. Equinor operates Raia with a 35 percent interest. Repsol Sinopec Brasil SA also owns 35 percent. State-owned

President Donald Trump met with his national security team in Washington for more than an hour on Tuesday to discuss the escalating Middle East conflict, according to people familiar with the matter, fueling fresh speculation that the US is on the verge of joining Israel’s attack on Iran.  Trump spoke with Israeli Prime Minister Benjamin Netanyahu following the meeting, according to a White House official, as speculation swirled around how the US president might proceed.  White House officials declined to comment or issue a statement following its conclusion. American weapons are seen as crucial to achieving a more complete destruction of the Islamic Republic’s atomic program than anything Israel can do alone. Yet while the US is Israel’s closest defense partner and arms supplier, Trump has so far resisted calls from some political allies to join in strikes against Iran and its nuclear program.  Before gathering his advisers in the Situation Room, Trump posted a demand for Iran’s “UNCONDITIONAL SURRENDER” and warned of a possible strike against the country’s leader, Ayatollah Ali Khamenei. “We know exactly where the so-called ‘Supreme Leader’ is hiding. He is an easy target, but is safe there – We are not going to take him out (kill!), at least not for now,” Trump posted on social media. Both Israel and Iran indicated that they planned to ratchet up the conflict, which has seen the sworn enemies trade missile salvos for five days. The Israel Defense Forces said they had identified missiles launched from Iran toward Israel and instructed the public to take shelter in protected spaces. Explosions were heard in Tel Aviv, according to Reuters. Separately, the New York Times reported that Iran was preparing missiles for possible retaliatory strikes on US military interests in the Middle East, were Trump to proceed with an offensive campaign.

The European Investment Bank (EIB) has committed EUR 1.6 billion ($1.84 billion) in loans for a subsea project that would increase the power exchange capacity between Spain and France from 2,800 megawatts (MW) to 5,000 MW. Stretching 400 kilometers (248.55 miles), of which 300 kilometers are underwater, the Bay of Biscay project by France’s RTE and Spain’s Red Electrica would be the first submarine electricity interconnection between the two countries. Construction is underway, being implemented by Red Electrica-RTE joint venture Inelfe. The companies expect the link to become operational 2028. They recently signed EUR 1.2 billion for the first tranches of the EIB loans. The project had already won a European Union Grant of nearly EUR 600 million from the Connecting Europe Facility (CEF). Earlier this month a separate project to build an electricity exchange link between Landes in France and Navarra in Spain sealed EUR 11.1 million in CEF funding. RTE and Red Electrica will spend the grant on technical and financial studies. The Bay of Biscay project will aid “the Iberian peninsula’s progress towards the EU interconnection target for Member States of at least 15 percent of installed production capacity by 2030”, the EU bank said in an online statement. “EIB support for the France-Spain electricity interconnection will be key to ensuring that the Iberian Peninsula is no longer an energy island”, EIB president Nadia Calviño said. “This agreement will lead to a major shift in energy integration, an important area for EU competitiveness and strategic autonomy”. “Along with EU institutions – such as EIB – and other European TSOs [transmission system operators], RTE is committed to ensure that the French power grid is fit to play its role of a European electricity crossroad, including through major reinforcement projects to avoid internal constraints, as laid out in our

Malaysia’s Petroliam Nasional Berhad (Petronas), together with partners, launched the Petronas Energy Transition Academy (P-ETA). The company said in a media release the academy is designed to help prepare the workforce for the lower carbon energy industry. Developed by Petronas’ technical training institute, Institut Teknologi Petroleum Petronas (INSTEP), the P-ETA initiative is open to participants from leading global energy players. Its goal is to equip learners with the necessary skills and knowledge to contribute to the rapidly evolving energy industry, the company said. “It is our hope that the launch of P-ETA will lay the foundation for an equitable energy future shaped by leaders and professionals with the vital skillsets to meet the world’s growing energy needs.”, Muhammad Taufik, Petronas President and Group Chief Executive Officer, said. “As PETRONAS continues to pursue our Energy Transition Strategy which aims to balance energy security, affordability, and sustainability, this initiative is envisaged to support access to equitable opportunities for the workforce delivered through programs that will be specially curated in the context of the energy transition”, he said. During the event, INSTEP exchanged three memoranda of understanding (MoUs) with P-ETA training partners – Sustainable Energy Development Authority Malaysia (SEDA Malaysia), the United Kingdom-based Energy Institute (EI), and OPITO, Petronas added. Through partnerships with international and national organizations, P-ETA intends to implement programs that adhere to global standards, facilitating accelerated capability growth in areas like carbon management, hydrogen, renewable energy, energy efficiency, and circular economy practices. The academy is situated at INSTEP in Terengganu, Malaysia. Malaysia’s National Energy Transition Roadmap estimates that the transition to a lower carbon economy could create up to 310,000 jobs by 2050, Petronas noted. To contact the author, email [email protected] WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone.