Global energy technology company SLB has posted a six percent rise in net income for 2024, despite a drop for the fourth quarter. The company said in its report that its net income for the year landed at $4.46 billion. For the fourth quarter, the company’s net income was at $1.1 billion, eight percent below Q3 and two percent below the corresponding 2023 quarter.
“Naftogaz Group not only maintains stability but also continues to demonstrate growth in gas production”, Naftogaz acting chair Roman Chumak said in an online statement. “Each day, our team demonstrates resilience and adaptability, driving progress even under the toughest conditions”.
Israel exported a record 981mn cfd of natural gas to Egypt in 2024, good for 18.2% year-over-year. According to Middle East Oil & Gas publication MEES, the remarkable surge in imports can be attributed to a growing gas deficit resulting from declining domestic production by Egypt. However, Israel will struggle to ramp up exports further due to infrastructure limitations.
Russia’s oil shipments via the Baltic Sea declined 10% over the final four months of 2024 due to the impact of EU sanctions against Russian oil and gas exports, the Finnish Border Guard has reported. Finland’s Coast Guard monitors the shadow fleet that Russia uses to export crude via the Gulf of Finland.
The United States has become the largest LNG exporter in the world in a few short years and it also became the biggest supplier to the European after 2022 and the suspension of most Russian pipeline flows. Before 2022, U.S. LNG exports to the continent averaged 15 million tons per year, but they jumped to 55 million tons in both 2022 and 2023.
“LNG traders care about volatility. If you’re in a flatter volatility environment, it doesn’t matter how good or bad your traders are, it’s going to be harder to make huge amounts of money,” Hewitt Energy Perspectives consultant David Hewitt told the FT.
The Houthis will only target ships that are wholly or partially owned by Israeli individuals or entities, as well as Israel-flagged ships, the Houthis said, announcing a partial halt to the attacks in the Red Sea that have disrupted commercial shipping in the past year.
President-elect Donald Trump is preparing to unleash a flurry of executive orders later this afternoon, reportedly numbering around 200, to reignite his ‘America First’ agenda. On the energy front, Trump is expected to declare a national energy emergency to ramp up domestic crude oil and natural gas production to reduce power bill costs for all Americans.
The global energy landscape is in the midst of a transformation, driven by accelerating climate goals, technological innovation, and shifting geopolitical dynamics. Energy Intelligence’s 2025 Energy Outlook sheds light on the trends shaping the industry’s near-term future, offering key insights into how governments, businesses, and consumers are adapting to a rapidly evolving energy paradigm.
“Oil is no longer an energy security challenge – it’s going to be gas, electricity, predominantly minerals,” Saudi Arabia’s energy minister said this month. From a certain perspective, this sounds like a death knell for oil as we know it—the commodity that drives the global economy. On the other hand, it’s an admission we have become even more dependent on hydrocarbons, just more of them.