Oil Daily | Iranian-Israeli Tensions Heighten Supply Disruption Concerns Amid Global Energy Demand

【Latest Oil Policies】

TotalEnergies plans to allocate 30% of its capital expenditure to boost its integrated power business, aiming to increase the power business share to 20% by 2030. The company invested $17.8 billion in 2024, including $4.8 billion in low-carbon energy, with plans for capex between $16-18 billion annually over the next five years.

【Industry News】

Baker Hughes' Middle Eastern projects are operating normally amid tensions between Israel and Iran. CEO Lorenzo Simonelli expressed hopes for de-escalation and noted resilient demand despite potential supply disruptions. Energy analysts highlight that if Iranian oil exports are disrupted, Chinese refiners may seek alternative sources from other OPEC members and Russia.

【Company News】

Australia's Santos received an $18.7-billion takeover offer from a consortium led by Emirati Adnoc. The offer, motivated by Adnoc’s global gas expansion plans, faces regulatory hurdles with approvals needed from multiple agencies in Australia, Papua New Guinea, and the United States.

【Others】

The conflict between Iran and Israel has escalated, with attacks on key energy infrastructure, including Iran’s South Pars gas field. Concerns over the Strait of Hormuz's safety remain, although analysts suggest a complete blockade is unlikely due to global dependence on the route. U.S. President Trump urged for peace and expressed concern over rising oil prices.