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Rotterdam Foundation signs MoU for green economy projects in Egypt’s Suez Canal Economic Zone
Egypt Gas posts 48.1% y/y surge in net profit to $2.96mn in Q1
Egypt Gas posted a 48.1% y/y rise in its net profit after tax in Q1 of the current year to EGP 138.966mn ($2.96mn), the private energy company said in a bourse filing on Thursday, May 16.
Experts devoted to preventing mine tailing heap disasters meet in Tajikistan, announces UNECE
Sudanese authorities hasten pipeline repairs for South Sudan oil exports
Sudan's Sovereign Council is mobilising efforts to mend ruptured pipelines crucial for transporting South Sudan's crude oil to global markets, a spokesperson for the council revealed on May 15.
Iran launches two solar farms in southeastern Kerman province
Iran has launched two solar farms, each churning out 10 megawatts of clean electricity, in the southeastern desert province of Kerman.
ExxonMobil on track to producing 500mn barrels of oil in Guyana by year's end
ExxonMobil's oil production offshore Guyana is on track to reach 516mn barrels since it began production in December 2019.
Colombia's oil production nears 800,000 bpd, says Regulator Chief
The President of the National Hydrocarbons Association announced that the country's average daily oil production is approaching 800,000 barrels per day, despite the nation's increasing focus on expanding renewable energies.
BYD postpones 2025 plans for Chile lithium plant
Chinese car manufacturer BYD Co has decided to delay its plans for producing lithium cathodes for electric vehicle batteries at a new plant in Chile, the company's Americas head, Stella Li, confirmed.
Morocco to invest $7bn in energy projects over coming three years
Moroccan Energy Minister Leila Benali has said the government plans to invest $7bn in the country’s energy network to add 9 GW to its installed capacity by 2027 to reach a total of 20 GW.
Venezuela's oil production inches up despite US sanctions
Venezuela's oil production edged up to 878,000 barrels per day in April, marking a modest increase of 0.45% from March's average of 874,000 bpd despite the return of sanctions, according to data compiled in a report released on May 13 by OPEC.
Vaca Muerta produced 52% of Argentine oil in March
A report by consulting firm Economía & Energía found that oil production in Argentina reached 690,000 barrels per day in May, with the Vaca Muerta shale formation accounting for 52% of total output.
Nicaragua's El Jaguar solar plant boosts national energy grid
The 16 MW El Jaguar photovoltaic facility, situated in Malpaisillo, León department, has commenced injecting power into Nicaragua's National Interconnected System. The plant features nearly 40 bifacial solar panels.
Venezuela bolsters military presence near Guyana border amid rising tensions
Venezuelan President Nicolas Maduro's administration is intensifying military infrastructure and hardware deployment near the border with Guyana, heightening concerns of annexation threats towards the oil-rich stretch of Guyanese land.
Costa Rica's president revives Diquis hydroelectric project amid environmental concerns
Costa Rica's President Rodrigo Chaves has unveiled plans to revive the controversial Diquis hydroelectric project, which involves building a reservoir on the Grande de Térraba River - a plan opposed by indigenous groups over environmental concerns.
Panama Canal Authority eyes LNG transit boost amid drought recovery
Ricaurte Vásquez Morales, Administrator of the Panama Canal Authority, revealed plans to engage American liquefied natural gas producers to address transit demand as the crucial waterway emerges from an extended drought.
Experts weigh major significance of revived plan to build Kambar-Ata-1 dam and hydropower plant
MODEC reports 657% surge in quarterly profit driven by Guyana FPSO contract
MODEC released its earnings for the first quarter of 2024, announcing a $71mn profit largely driven by its order for the Errea Wittu floating production storage and offloading vessel for the Uaru development offshore Guyana.
Iranian oil still being offloaded in China despite US sanctions
According to a report in London-based Iran International on May 11, the group United Against Nuclear Iran (UANI) revealed that two vessels were seen offloading Iranian oil at the port of Dongjiakou in China.
Nigerian Senate approves taking $500mn loan to improve electric metering
The Nigerian Senate has given the green light to President Bola Tinubu’s request for a $500mn loan, aimed at bolstering the country’s electricity sector.
Uganda in talks with China’s Sinohydro to supply power to South Sudan
Uganda is in talks with Chinese firm Sinohydro Corporation Limited for the development of a $180mn power transmission line to allow Kampala to export electricity to South Sudan.
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