Global Energy Roundup: Total's Solar Move, JERA Profit, Hormuz Tensions

French energy major TotalEnergies SE, a significant player in global energy markets, has broken ground on a major 440-megawatt solar farm in the Philippines, according to Rigzone. The company, alongside local partner Nextnorth Holdings Corp, launched construction on the $300 million project in Ilagan City, aiming to start generation in 2027. TotalEnergies stated the plant will produce 13.5 terawatt-hours over 20 years, with over half its output sold under long-term agreements to retail suppliers AdventEnergy and PrimeRES. The project, financed by ING Bank NV, Sumitomo Mitsui Banking Corp and Standard Chartered PLC, is slated to be included in a pending $2.2 billion joint venture between TotalEnergies and Abu Dhabi's Masdar.

Separately, Japanese utility JERA Co Inc reported a higher annual profit for its 2025 financial year, Rigzone reported. The company posted a profit of JPY 193.5 billion ($1.23 billion), a 5.2 percent year-on-year increase. JERA cited increased profits in overseas power generation and renewable energy business as a contributing factor, despite a decrease in fuel business profit. The company noted ongoing uncertainty, stating, "Due to the impact of the situation in the Middle East and other factors, the outlook for resource prices and fuel procurement remains uncertain."

That uncertainty was underscored by renewed tensions in a key global oil chokepoint. President Donald Trump announced the U.S. will begin guiding neutral ships trapped in the Persian Gulf through the Strait of Hormuz starting Monday, May 4, according to Rigzone. Trump described the effort, dubbed "Project Freedom," as a humanitarian move for crews running low on supplies. U.S. Central Command said it would provide military support to restore commercial shipping, including using guided-missile destroyers, aircraft, and drones.

The announcement followed a reported attack on a tanker in the waterway. The UK Maritime Trade Operations said a tanker was hit by projectiles 78 nautical miles north of Fujairah, United Arab Emirates, though the crew was safe. Oil prices steadied with Brent crude near $108 a barrel and West Texas Intermediate below $102 as traders doubted the plan's effectiveness. Iranian officials warned that any U.S. interference would violate a ceasefire.

For Bakken operators, these developments illustrate the broader energy landscape in which they operate. Major international oil companies like TotalEnergies are actively diversifying into large-scale renewable projects, signaling long-term strategic shifts. Meanwhile, geopolitical instability in the Middle East continues to inject volatility into global crude markets, directly impacting the price benchmarks for Williston Basin production. The Strait of Hormuz remains a critical flashpoint, with any disruption there affecting global supply chains and sentiment.