Record Europe LNG Imports, U.S. Restructures Biden-Era Clean-Energy Funding: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

PRODUCTION
U.S. Drillers Add to Rig Count for First Time in Three Weeks - U.S. energy firms last week added to the overall oil and natural gas rig count for the first time in three weeks, energy services firm Baker Hughes (Houston, Texas) said in its closely followed report on Friday. The oil and gas rig count rose by one to 544 in the week ending January 23. Baker Hughes said oil rigs rose by one to 411 last week while gas rigs were unchanged at 122. (Reuters)

LNG
IEA: Europe Set for Record LNG Imports in 2026 - Europe is expected to import a record amount of liquefied natural gas (LNG) this year with global supply also expected to soar, the International Energy Agency (IEA) said on Friday. Europe is expected to import a record 185 billion cubic meters (Bcm) of LNG in 2026, the IEA's quarterly Gas Market Report showed, up from a previous record 175 Bcm in 2025. Global LNG supply is forecast to grow more than 7% in 2026, its fastest pace since 2019, with North America accounting for the vast majority of the 40-Bcm increase, the agency said. (Reuters)

U.S. GOVERNMENT
U.S. Restructuring or Cutting $84 Billion in Clean-Energy Loans - The Trump administration said on Thursday it is restructuring or eliminating nearly $84 billion in clean energy projects funded during the administration of former President Joe Biden. The move was the latest by President Donald Trump's administration to favor fossil fuels and nuclear energy while eliminating subsidies for alternative energy like wind and solar. The changes by the Office of Energy Dominance Financing, or EDF, come after a review of $104 billion in loans made during the Biden administration, with the majority of that coming after the 2024 presidential election. The department said priorities will include nuclear, coal, oil and gas, as well as projects for critical minerals, geothermal, the power grid, manufacturing and transportation. (Reuters)

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About Industrial Info Resources
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