Interior Department Revenue from Oil and Gas Lease Sales

The Interior Department announced $40 million in revenue from oil and gas lease sales on public land in the first three months of 2025, aligning with Trump's energy policies. The leases have a one-decade lifespan and a 16.67% royalty.

U.S.-Ukraine Deal on Strategic Minerals, Oil, and Gas

U.S. Treasury Secretary Scott Bessent announced a deal between the United States and Ukraine on strategic minerals, oil, and gas, with President Zelensky set to sign it at the White House. The deal is described as a win-win for both countries and their people.

Ukraine closes off Putin's pipeline to Europe

Ukraine closed off a key pipeline, dealing a blow to Russia's gas exports to Europe and causing price hikes across the Continent. The closure has led to a shift in European gas supplies away from Russia, increasing reliance on LNG from other countries.

US Plans Sanctions Against Serbia's Russian-Controlled Gas Supplier

The United States plans to introduce sanctions against Serbia's main gas supplier, which is controlled by Russia. Serbia heavily relies on Russian gas and is seeking to preserve friendly relations with both the U.S. and Russia. President Vucic is facing protests over a deadly accident and potential sanctions from the U.S.

Russian Energy Giant Gazprom Signs Memorandum to Supply Gas to Iran

Russian energy giant Gazprom has signed a memorandum with the National Iranian Gas Company to supply Russian pipeline gas to Iran. This partnership aims to enhance Iran's natural gas business, which has been hindered by U.S. sanctions.

Global Energy Industry News

The Reuters Power Up newsletter provides comprehensive information on the global energy industry, covering topics such as oil drilling restrictions in Alaska, concerns over Middle East tensions, and market reactions to geopolitical events.

National Security and Climate Change Lawsuit in Hawaii

Two former Joint Chiefs of Staff chairmen argue that oil and gas products are critical to national security in a legal brief regarding a case in Hawaii where activists are calling for energy companies to pay damages for climate change. They warn that a decision against the companies could have massive repercussions on national security and foreign policy.

Biden Administration's Energy Management

Biden Senior Adviser for Energy and Investment Amos Hochstein discussed the Biden administration's management of the energy transition by ensuring lower prices and highlighted the U.S.'s role as a major oil producer and natural gas exporter while attracting investments. Allies are impressed with the U.S.'s approach to energy transition and investment.