Britain stepped up support for offshore wind in the latest subsidy auction, showing the government is still determined to meet its ambitious 2030 clean-power goal even as costs rise. The 8.2 gigawatts of offshore wind beat analysts’ expectations and will boost the likelihood of the government delivering on its promise to almost totally exit fossil fuels in power generation. The UK now needs around 7 gigawatts of new capacity in the next auction, which is the last realistic chance to get projects built in time.   The government will pay developers more for projects won in this auction compared with last year, a cost that’s ultimately paid for by consumers. It creates a difficult balancing act for Prime Minister Keir Starmer, who has pledged to cut household bills during the current parliament.  “With these results, Britain is taking back control of our energy sovereignty,” said Energy Secretary Ed Miliband in a statement. The results deliver the biggest single procurement of offshore wind energy in British and European history, according to the statement. The auction secured capacity at a price of £65.45 ($88) per megawatt-hour in 2012 prices, a commonly used benchmark, or £91.20 in 2024 terms, accounting for some inflation. This price, higher than in last year’s auction, still represents a “net benefit to bills over the next decade,” according to analysis from Aurora Energy Research. RWE AG was the major winner, involved in all but one of the projects that won. Separately, RWE said it has agreed a deal with KKR & Co to develop, construct and operate the Norfolk Vanguard East and Norfolk Vanguard West projects, which were awarded contracts in the auction.  Another winner, RWE’s Dogger Bank South, doesn’t yet have planning permission, which means it may not be built in time to meet the 2030 goal. RWE’s

In a report published recently, GasBuddy revealed its average U.S. gasoline price prediction for 2026. According to this report, the company expects the U.S. gasoline price to come in at $2.97 per gallon this year and sees December as the month with the lowest average U.S. gasoline price in 2026, at $2.83 per gallon. GasBuddy expects May to see the highest average U.S. gasoline price in 2026, at $3.12 per gallon, the report outlined. “GasBuddy’s forecast projects the national average price of gas to fall to $2.97 per gallon in 2026, marking the fourth consecutive annual decline and the lowest average since 2020,” Patrick De Haan, Head of Petroleum Analysis at GasBuddy, said in the report. “This continued decrease reflects the unwinding of post-pandemic market distortions, expanding global refining capacity, and more stable supply chains,” he added. “While the drop from 2025 is modest compared to previous years, it underscores a meaningful shift toward greater overall market stability,” he continued. A statement accompanying the release of the report posted on GasBuddy’s website highlighted that the U.S. gasoline price averaged $3.102 per gallon in 2025. GasBuddy also pointed out in that statement that it is forecasting the yearly U.S. average price of gasoline to fall back below $3 per gallon for the first time since the Covid-19 pandemic. In the report, GasBuddy projected that average household spending on gasoline will come in at $2,083 in 2026. That’s the lowest figure since 2021, which saw an average household gasoline spend of $1,979, the report showed.  De Haan went on to project in the report that gasoline prices “are expected to follow a traditional seasonal pattern in 2026, with imbalances left behind by Covid and geopolitical tensions balanced for the time being”. “The national average is projected to briefly rise into the low

The United States Department of Energy (DOE) and the National Aeronautics and Space Administration (NASA) on Tuesday announced a memorandum of understanding (MOU) renewing their commitment to developing a lunar power system using fission by 2030. The collaboration aims to enable sustained NASA missions on the Moon – though radioisotope systems have already powered long-term U.S. space missions for decades according to DOE. “Thanks to President Trump’s leadership and his America First Space Policy, the department is proud to work with NASA and the commercial space industry on what will be one of the greatest technical achievements in the history of nuclear energy and space exploration”, Energy Secretary Chris Wright declared. The agencies eye deploying a surface power system able to operate for years without refueling. “The deployment of a lunar surface reactor will enable future sustained lunar missions by providing continuous and abundant power, regardless of sunlight or temperature”, DOE and NASA said. “Under President Trump’s national space policy, America is committed to returning to the Moon, building the infrastructure to stay and making the investments required for the next giant leap to Mars and beyond”, said NASA Administrator Jared Isaacman. “Achieving this future requires harnessing nuclear power.  “This agreement enables closer collaboration between NASA and the Department of Energy to deliver the capabilities necessary to usher in the golden age of space exploration and discovery”. Westinghouse Contract Before the MOU, DOE and NASA had already contracted Westinghouse Electric Co LLC to develop a space microreactor design under the agencies’ Fission Surface Power (FSP) project. On January 7, 2025, Pennsylvania-based Westinghouse announced a new contract that builds on “the successful design work Westinghouse completed during phase 1 to optimize its contributions to the design of FSP systems and their configuration, and begin testing of critical technology elements”. “The continued progress

Texas upstream employment and job postings declined in the fourth quarter of 2025. That’s what the Texas Independent Producers and Royalty Owners Association (TIPRO) said in a statement sent to Rigzone on Friday, which TIPRO outlined corresponded with the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS) and provided “additional insight on markets trends”. TIPRO noted in the statement that, due to the federal government shutdown and suspension of related services last year, the CES report from the BLS was delayed until the government resumed operations. TIPRO highlighted that, on Friday, CES data was released simultaneously for the months of October and November 2025. “According to … TIPRO, employment in the Texas upstream sector declined between October and November 2025,” TIPRO said in the statement. The organization noted in the statement that oil and natural gas extraction jobs increased “modestly” by 100 to 69,600, which it pointed out was a 0.1 percent month on month increase, “buoyed by Permian Basin efficiencies”. Support activities employment fell by 3,600 to 131,600, a drop of 2.7 percent month on month, TIPRO outlined in the statement, “amid rig count erosion (down 7.6 percent year on year) and service sector streamlining”. “Combined upstream employment decreased by 3,500 jobs to 201,200 (-1.7 percent month on month),” TIPRO highlighted. In its statement, TIPRO noted that, from January to November 2025, employment in the Texas upstream sector “displayed early resilience followed by late-year softening”. “Oil and gas extraction added a net 1,400 jobs (+2.1 percent), peaking at 70,200 in June and July before a -400 dip from August to November, driven by robust Permian production but offset by layoffs and lower oil prices,” TIPRO stated. “Support activities employment saw a net loss of 3,700 jobs (-2.7 percent), with a February-May surge (+2,800) undone by mid-year declines (-3,400

The Norwegian Ministry of Energy announced, in a statement posted on its website on Tuesday, that it has offered 57 new production licenses to 19 companies on the Norwegian Continental Shelf in the APA (Awards in Predefined Areas) 2025 licensing round. Of the 57 production licenses offered in APA 2025, 31 are located in the North Sea, 21 in the Norwegian Sea, and five in the Barents Sea, the statement highlighted. Equinor Energy AS was offered the highest number of combined parts in licenses and operatorships, with 52, followed by Aker BP ASA, with 34, and DNO Norge AS, with 21, the statement revealed. A complete list of offers, showing parts/operatorships, as shown on the ministry’s site, can be seen below: Aker BP ASA (22/12) Concedo AS (2/1) ConocoPhillips Skandinavia AS (1/1) DNO Norge AS (17/4) Equinor Energy AS (35/17) Harbour Energy Norge AS (9/4) INPEX Idemitsu Norge AS (5/1)Japex Norge AS (2/0) Lime Petroleum AS (1/0) OKEA ASA (3/1) OMV (Norge) AS (4/2) Orlen Upstream Norway AS (6/0) Pandion Energy Norge AS (1/0) Petrolia NOCO AS (1/1) Repsol (2/2) Source Energy AS (2/0) TotalEnergies EP Norge AS (1/0) Vår Energi ASA (14/6) Wellesley Petroleum AS (5/5) All petroleum licensing rounds are carried out within the framework established by the Norwegian Parliament for where new production licenses may be awarded, the ministry’s statement noted, adding that APA is an annual exploration round for the Norwegian continental shelf. “The APA rounds are carried out within a fixed area, the APA area, which is expanded on the basis of petroleum professional assessments and in accordance with a fixed annual cycle,” the statement highlighted. “The APA area comprises the majority of the opened, available acreage on the continental shelf, including areas in the North Sea, the Norwegian Sea, and the Barents Sea,” it

A group of banks including JPMorgan Chase & Co. and Citigroup Inc. are in talks to lend natural gas producers in Argentina roughly $1 billion to build a cross-country pipeline, according to two people familiar with the matter.  The banks, which also include Banco Santander SA, are negotiating the syndicated loan with a consortium led by Pan American Energy Group after a similar deal was struck last year for a pipeline and port dedicated to shale oil exports. That project, known as VMOS, is currently under construction. More banks may join the financing for the gas pipeline, the people added.  Pan American, which is half-owned by British oil major BP Plc, holds a 30 percent stake in the consortium, called Southern Energy SA. Argentina’s state-run energy giant YPF SA owns 25 percent. Three other companies, Pampa Energia SA, UK-based Harbour Energy Plc and Golar LNG Ltd. also have smaller stakes in the project.  Negotiations are ongoing and terms could still change before an agreement finalizes. JPMorgan and Citi declined to comment. Santander and Pan American didn’t respond to requests for comment.  Argentina’s Vaca Muerta shale patch is growing fast as President Javier Milei’s free-market reforms have opened up the energy industry to global credit, unleashing investments. The $2 billion loan for the oil pipeline was the biggest project financing in Argentina’s history, according to JPMorgan. Southern Energy is now aiming to unlock the Vaca Muerta’s gas potential with Argentina’s first floating liquefaction terminal for natural gas. The pipeline would transport natural gas from Vaca Muerta to the terminal on the Atlantic coast. Argentina holds the world’s second-biggest resources of shale gas, and its daily production averaged the equivalent of about 550,000 barrels last year. The consortium’s first leased liquefaction vessel, Hilli Episeyo, is set to start production at the end of 2027.