Oil falls nearly 5% after new proposal from Iran to Washington
The drop in prices reflects greater optimism in the market
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Energy market news in Portugal
Latest news and stories about energy market in Portugal for expats and residents.
Latest news and stories about energy market in Portugal for expats and residents.
The drop in prices reflects greater optimism in the market
The Organization of the Petroleum Exporting Countries (OPEC) highlighted today the “frenetic pace” at which the global energy market is changing, despite its efforts to keep it stable through its production control policy for member countries.
The exit from OPEC, which the country justifies as being in the “national interest” following an analysis of its medium and long-term energy strategy, will take effect as early as Friday, May 1st.
Meo recorded revenues of 2.811 billion euros in 2025, representing a 1.3% increase compared to the previous year. The telecommunications operator saw revenues rise due to the consumer segment, which grew by 5% driven by the electricity supply package. Meo CEO, Ana Figueiredo, believes that...
The CEO of EDP stated this Wednesday that the lack of electrical interconnections between the Iberian Peninsula and France “is a disgrace”, highlighting that the Iberian market is currently “more of an energy island than Ireland”. Miguel Stilwell blamed politicians for this situation: “It is more of a political issue than a technical one”, he stressed.
The liberalised electricity market reached approximately 5.8 million customers in January with an annualised consumption of 46,073 gigawatt-hours, representing a year-on-year increase of 2.0% in customers and 10.3% in consumption. According to data released by the Energy Services Regulatory Authority (ERSE) this Tuesday, the 21st, the liberalised market gained 7,884 customers in January compared to December, reaching 5,801,696, while the regulated market lost 7,262 customers, totalling 799,513. In January, 110,959 customers switched suppliers in the liberalised market. By the end of January, consumption in the liberalised market accounted for 87.9% of the total number of customers and 95.1% of consumption in mainland Portugal, an increase of 0.2 percentage points in consumption compared to the same month last year.
A note points to production cuts in several Persian Gulf countries caused by Iranian attacks on oil industry facilities and the closure of the Strait of Hormuz.
Economist Filipe Garcia analyses the market fluctuations this week.
Oil company BP reported this Tuesday, the 14th, that market conditions and oil price volatility caused by the war in Iran will impact its financial results for the first quarter of the year. The company, listed on the London Stock Exchange, expects an exceptional result in oil trading for the first three months of 2026, following weakness recorded in the last quarter of 2025. In a statement, BP added that it is observing 'impacts associated with the current situation in the Middle East and market conditions, which translate into greater volatility in crude oil, natural gas, and refined product prices during the latter part of the first quarter.' These market conditions are expected to impact financial results, insisted BP, which plans to release its first-quarter 2026 results on April 28. This Tuesday, the Brent crude oil barrel for June delivery fell more than 1%, due to market optimism regarding the possibility of the US and Iran continuing to negotiate a peace agreement, despite US President Donald Trump keeping the Strait of Hormuz blocked. Brent futures contracts, Europe's benchmark oil, fell 1.49% this morning to 97.88 dollars on the London futures market. BP's net profit rose 5.3% in 2025 to 1.1 billion euros.
There was an agreement to reopen the Strait of Hormuz.
In 2023, Portugal recorded the highest percentage of energy poverty among all European Union member states. Here is why.
G7 finance and energy ministers will decide on whatever is needed to ensure the stability of the energy market.
G7 Finance and Energy ministers called on all countries this Monday to refrain from imposing “unjustified restrictions on the export of hydrocarbons” and related products, ensuring they will continue to monitor the impact of the war in the Middle East and stating they are ready to take “the necessary measures”. “We, the Energy ministers...”
Trump's statements offered hope for relief in the hydrocarbon market, where prices have been rising steadily since the start of the Israeli-US attacks on Iran.
Pedro Amaral Jorge, former president of the Portuguese Renewable Energy Association (APREN) for eight years, has been appointed to lead the central institutions of the Iberian Electricity Market (MIBEL), assuming the presidency of the Iberian Market Operator (OMIP and OMIE). The appointment was approved by the governments of Portugal and Spain following his election by the market's shareholders. Minister of Environment and Energy, Maria da Graça Carvalho, praised the move as a key step for the European electricity market. APREN confirmed his departure, noting that the association's leadership will be managed by its board until a successor is named.
The president of the renewable energy association is leaving his post at APREN to lead the Portuguese and Spanish operators of the Iberian electricity market.
Pedro Amaral Jorge, president of Apren since April 2019, is stepping down to assume the presidency of the Iberian Market Operator - Portugal (OMIP) and OMIE, the manager of the daily and intraday electricity market in the Iberian Peninsula.
The United States has temporarily authorised the sale of Russian oil stored on ships due to rising prices since the start of the war in Iran.
An envoy for the President of Russia stated today that the global energy market 'cannot remain stable' without Russian oil, after Washington temporarily authorised the sale of Russian oil stored on ships.
The 32 member countries of the International Energy Agency (IEA) decided “unanimously” today to release 400 million barrels of oil from strategic reserves into the markets.
The report indicates that the liberalised energy market is presenting more attractive electricity offers compared to gas for the fourth quarter of the year.
