Newsletter No. 139
Good afternoon,
Let's jump right in this week and take a look at what’s happening in the oil and gas industry.
This Week's Headlines
- WTI Oil Prices Jump 5% After Trump Sanctions Russian Producers
- India May Cut Russian Oil Buys to Secure U.S. Trade Deal
- U.S. and Qatar Warn Europe: Climate Rules Could Cut Off Its Gas Supply
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BLM to Open 50,000 Acres in Colorado for Oil and Gas Drilling
- CenterPoint Sells Ohio Gas Business for $2.6 Billion
- Rockcliff Energy Buys More East Texas Gas Assets
- Webinar Tonight with Tax Strategist Ed Lyon
- New Podcast: From the White House to Wall Street with Anthony Scaramucci
Oil and Gas News
WTI Oil Prices Jump 5% After Trump Sanctions Russian Producers
WTI oil prices rose about 5% Thursday morning to just approximately $62 a barrel after President Trump announced new sanctions on Russia’s two biggest oil companies, Lukoil and Rosneft. The move blocks their U.S. assets and stops American businesses from working with them.
This marks the first Ukraine-related sanctions of Trump’s second term and a major step to pressure Moscow’s energy sector. For U.S. oil producers, the tighter global supply is giving prices a welcome boost.
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India May Cut Russian Oil Buys to Secure U.S. Trade Deal
The U.S. and India are close to a new trade deal that could lower U.S. taxes on Indian goods from 50% to about 15%. In exchange, India might agree to slowly reduce how much oil it buys from Russia. The deal could be announced next week at a big meeting in Malaysia. President Trump has been pressuring India to stop buying Russian oil and raised tariffs earlier this year to push them. India’s government hasn’t confirmed any cuts yet, saying its main goal is to keep energy prices fair for its people.
U.S. and Qatar Warn Europe: Climate Rules Could Cut Off Its Gas Supply
The U.S. and Qatar are warning the European Union that new climate rules could make it harder for them to sell natural gas to Europe. The proposed law would force companies to prove they protect human rights and cut pollution, or face huge fines. Qatar even said it might stop sending gas to Europe if the rule passes. Both countries say this could hurt Europe’s energy supply and raise prices, especially as the EU tries to stop buying gas from Russia. Together, the U.S. and Qatar currently provide about one-fifth of Europe’s gas.
BLM to Open 50,000 Acres in Colorado for Oil and Gas Drilling
The U.S. Bureau of Land Management plans to let oil and gas companies drill on 50,000 acres of public land in Colorado. An online auction for 60 land parcels will be held on December 9. This comes after a September sale that brought in $6.7 million. BLM says an even bigger land sale, the largest in more than 20 years, is coming in March 2026.
Moves to Watch
CenterPoint Sells Ohio Gas Business for $2.6 Billion
CenterPoint Energy is selling its Ohio natural gas business to National Fuel Gas for $2.6 billion. The sale includes about 5,900 miles of pipelines that deliver gas to 335,000 customers. The deal should be finalized in late 2026 once regulators approve it. For National Fuel, this move doubles the size of its gas operations and adds Ohio to its service areas. CenterPoint plans to use the money from the sale to improve its electric and gas systems in other states.
Rockcliff Energy Buys More East Texas Gas Assets
Rockcliff Energy III is expanding in East Texas by buying Pine Wave Energy’s natural gas wells and pipelines in the Shelby Trough area. The deal includes 29,000 acres and 25 wells that produce about 100 million cubic feet of gas a day. Rockcliff, backed by Quantum Capital, was formed after selling its last East Texas assets to Tokyo Gas for $2.7 billion. The company plans to keep growing as demand for natural gas increases, especially with more LNG exports expected in the coming years. Terms of the deal weren’t shared.
Happening at King
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New Podcast: From the White House to Wall Street with Anthony Scaramucci
In this week’s episode of The Jay Young Show, my co-host Jordan Soto and I break down the week’s top oil and gas news, share my Weekly Five, and I sat down with Anthony Scaramucci, founder and managing partner of SkyBridge Capital, global thought leader, and author of The Little Book of Bitcoin.
Watch it on LinkedIn, Rumble and YouTube (@JayRYoungOfficial)
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All the best,
Jay
