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Russia to lift petrol exports ban as market stabilises
Russia could lift the ban on exports of petroleum products for a period of two months in May-June 2024, according to a report by Kommersant daily citing unnamed official sources.
Cuba seeks Iranian investment in oil and gas, envoy says
Cuba is seeking Iranian investment in the oil and gas sectors of the Caribbean nation, Ambassador Alberto Gonzaez Casals said when he visited an annual petroleum expo in Tehran.
ADNOC leaves talks to buy stake in Braskem
The Abu Dhabi National Oil Company (ADNOC) has quit talks to purchase a stake in Brazilian petrochemical company Braskem from controlling company Novonor, according to a Braskem statement released May 6.
US Treasury official highlights concerns over Iranian oil transfers via Malaysia to China
Brian Nelson, a key figure as the Under Secretary for Terrorism and Financial Intelligence at the US Department of the Treasury, has sounded the alarm over Iran's expanded ability to ship its oil,
Oil & gas stocks surge on discovery news and attractive valuations
Vietnam's oil and gas sector emerged as a bright spot in an otherwise lacklustre market session on May 8. While the broader market struggled, a surge in oil prices, new discoveries, and attractive valuations propelled oil and gas stocks to impressive
NECA calls for coordinated action on fuel scarcity – Nigeria
The Nigerian Employers’ Consultative Association has made calls for “urgent coordinated action” and “strategic interventions” to fix ongoing issues of fuel scarcity in the country.
Iraq to supply gas from Akkas to grid
The Iraqi Ministry of Oil has declared its collaboration with the Ministry of Electricity to enhance the national power supply by 1,640 MW, leveraging gas from domestic fields.
Shell to divest from downstream assets in South Africa
Shell is planning to divest from downstream assets in South Africa following an internal portfolio review, according to a statement released by the company on April 6, additionally confirmed by an interview with the Daily Maverick.
Petrobras to boost oil output with Marlim Field revitalisation, aims to tender two FPSOs in H2
Petrobras expects a significant boost in its accumulated production through the revitalisation project of the Marlim field in the Campos Basin, for which it will launch two floating production, storage, and transfer units (FPSO) tender offers in H2.
Mexico’s high-sulphur fuel oil output, exports surge in March
Mexico’s national oil company (NOC) Pemex’s output of high-sulphur fuel oil (HSFO) continued to surge in March, posting record-breaking exports.
Pemex provides nearly $400mn in fuel sales to crisis-hit Cuba
Mexico's national oil company (NOC) Pemex facilitated $380mn in crude oil and fuel sales to the Cuban beleaguered economy during the latter half of 2023.
US Transocean signs extension at record dayrate for Gulf of Mexico work
Deepwater driller Transocean has inked yet another extension surpassing the $500,000 dayrate threshold for operations in the US Gulf of Mexico.
Foreign firms permitted to invest in Vietnamese petroleum sector - conditions apply
Foreign investors are now permitted to invest in the establishment of petroleum storage and supply infrastructure in Vietnam, as announced by the Vietnamese Government in directive 343/QD-TTg which officially came into force on April 25
Vinacomin ramps up coal sales to power Vietnam's growing energy needs
Vinacomin, Vietnam's state-owned coal mining giant, is experiencing a surge in coal sales to domestic power plants. This comes as the Southeast Asian nation grapples with rising energy demands and seeks to avoid power shortages experienced in the pas
Chevron treads cautiously in Venezuela amid regulatory shifts
US oil behemoth Chevron is opting for a cautious stance regarding new capital expenditure in Venezuela in light of newly reimposed sanctions, despite being allowed to operate in the country by a separate licence issued in November 2022.
Venezuelans grapple with the paradox of inflation despite stable rates
Venezuela is facing the paradox of inflationary stability coupled with dwindling purchasing power, as citizens struggle to afford basic food items despite a relatively stable inflation rate.
Washington says Moscow is supplying fuel to Pyongyang, above and beyond UN sanctions limit
In a revelation with far-reaching international ramifications, the White House has said that Russia has been surreptitiously dispatching refined petroleum to North Korea in quantities that seem to flout a cap imposed by the UN Security Council.
Namibia receives $139mn World Bank loan to boost power transmission infrastructure
The World Bank has extended a $139mn loan to Namibia to help the southwest African nation improve its electricity transmission network.
WHAUP and Kurin Energy partner on solar farm projects exceeding 128 MW
WHA Utilities and Power Public Company Limited announced a joint venture with Kurin Energy Group, a leader in renewable energy development across Asia, to invest in two large-scale solar power projects.
Russian geo exploration agency asks for $274mn support
Russian state geological exploration agency Rosgeologiya is asking the government for RUB25bn ($274mn) of state support in subsidies and recapitalisation, as well as a special status for state-ordered geo exploration works.
Ghana to limit taxes on LPG
Ghana’s National Petroleum Authority (NPA) is pushing to make liquefied petroleum gas (LPG) more accessible and affordable for customers around the country, planning to work with the Ministry of Finance to limit taxes on the fuel.
Turkey's YEO to launch solar-plus-storage project in Zambia in partnership with GEI Power
Zambian sustainable energy company GEI Power is partnering with Turkey’s YEO to develop a 60 MW solar plant with a 20 MWh battery energy storage system (BESS) in the Choma district of the African country.
Turkey’s Yıldırım launches construction of 150 MW solar farm in Kosovo
Turkish energy company Yıldırım Energy launched the construction of its 150 MW solar farm in Kosovo, an investment of €43mn.
Cyprus seeks timetable from Chevron for Aphrodite development, talks with Eni move ahead
Cyprus expects to launch offshore gas production in 2027. Whether that will be from Aphrodite or another field is unclear.
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