Oil Daily | Ukraine Drone Strike Hits Russian Oil Assets Amid Peace Talks and Potential U.S. Deals

【Others】

The UK police have arrested the captain of a container ship involved in a collision with a jet fuel tanker in the North Sea. The incident, under investigation by U.S. and Portuguese authorities, resulted in significant vessel damage and a missing crew member. Environmental damage is currently not evident.

The Canadian government, in response to U.S. tariffs, is considering export restrictions on energy, minerals, and other goods. This comes after President Trump's imposition of a 25% tariff on most Canadian imports. Discussions are ongoing, with efforts to reach a deal to avoid energy tariffs.

Ukrainian forces damaged a Moscow oil refinery and a pipeline in a drone attack, aiming to disrupt Russia's capacity for military aggression. The move coincided with peace talks in Saudi Arabia and discussions about potential U.S. resource deals with Ukraine.

【Industry News】

The International Energy Agency's head, Fatih Birol, emphasized the need for investment in existing oil and gas fields to ensure energy security. This marks a shift from previous IEA stances against new fossil fuel investments, which have faced criticism from OPEC.

ExxonMobil plans its largest natural gas project in Guyana, the Longtail development, aiming to produce substantial gas and condensate. With significant discoveries since 2015, Guyana has become a new crude oil exporter, hosting multiple Exxon-led production projects.

Indonesia is doubling its planned refinery capacity to 1 million barrels per day to enhance energy security and reduce imports. The new refineries, slated for Kalimantan and Sulawesi, align with President Prabowo Subianto’s push for energy self-sufficiency.

U.S. LNG exporters seek to renegotiate delivery prices due to rising costs affecting profitability. Companies like Energy Transfer and Venture Global are in discussions to adjust contract terms, reflecting increased construction and operational expenses.