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Namibia mulls financial incentives to kick-start offshore oilfield development
Namibia is considering financial incentives to fast-track the development of its Orange Basin oilfields managed by a consortium led by French supermajor TotalEnergies.
Saudi Arabia-based power company ACWA Power plunges head first into Uzbekistan's green energy sector
Saudi Arabia-based utility developer ACWA Power plunged headfirst into the Uzbekistan green energy market. Since making its first investment in 2020 with a 1,500-MW plant in the Silk Road city of Bukhara, it has built $15bn worth of new capacity.
COMMENT: Georgia goes from sanctions-dodging transit country to Russia’s oil export backdoor into Europe
Georgia has long been suspected of being a major transit country for European sanctioned goods travelling to Russia, but now it appears the trade is flowing in the other direction: Georgia has become a major backdoor into the EU for Russian oil.
Where the world is losing tree cover fastest – Statista
North America is close on the heels of Latin America when it comes to tree cover loss, according to data published by the World Resources Institute, Statista reports.
Iranian parliament decides to ‘close’ Strait of Hormuz following US strike
Tehran appears set to take steps to close the vital shipping lane, but it remains to be seen whether it can do it, and what impact this will have.
Kosovans urged to save energy as production shortfall coincides with hike in air conditioner use
Energy supply company KESCO is calling on all consumers to take immediate measures to save electricity.
Fitch further downgrades Istanbul-listed Vestel Elektronik to B- with negative outlook
Company moved to six notches below investment grade. Layoffs announced. Sales in Europe under pressure from Chinese competition.
Iran warns of irreparable consequences after US nuclear site strikes
A senior advisor to Iran's Supreme Leader condemned the US attacks on Iranian nuclear sites declaring that the United States has struck "the heart of the Islamic world” and must await "irreparable consequences."
ISRAEL-IRAN WAR: Israel strikes Iranian nuclear facility and military bases in Ahvaz and Mahshahr
Israeli forces struck multiple Iranian targets on June 21, including military infrastructure in the southwestern cities of Ahvaz and Mahshahr.
Uganda, Tanzania, Zanzibar formalise oil and gas cooperation ahead of 2026 first production
Uganda has signed a tripartite Memorandum of Understanding (MoU) with Tanzania and its archipelago Zanzibar to strengthen regulatory collaboration in the oil and gas sector, as the country prepares to deliver its first commercial oil by 2026.
Russian ghost ship towed from Gdynia for scrapping in Denmark
Polish authorities began the removal of the derelict Russian oil tanker Khatanga from the Port of Gdynia after years of abandonment.
China’s curb on rare earth magnet exports could significantly impact Indian EV manufacturing
India’s automotive sector is navigating an emerging supply-side challenge as China’s recent export controls on rare earth elements and magnets begin to disrupt shipments and strain global supply networks.
FIC head explains why Uzbekistan today is not the Uzbekistan of five years ago
As Uzbekistan continues its transition toward a more open and market-driven economy, there is progress in attracting foreign direct investment (FDI) and improving the overall business climate.
Iran and Israel trade blows on energy infrastructure
The conflict between Israel and Iran expanded to include energy infrastructure this week, with both countries launching missiles at fuel storage depots, refineries and gas facilities in a bid to harm the opposite side’s ability to wage war.
Commonwealth LNG receives final go-ahead from FERC
Kimmeridge’s Commonwealth LNG has received a final order from the US Federal Energy Regulatory Commission (FERC), upholding the authorisation to build the Commonwealth liquefaction terminal.
INTERVIEW: The sustainability shift to LNG bunkering at Canadian ports
Larissa Fenn, vice-president of corporate affairs at HOPA Ports, speaks to us about the growth of LNG bunkering at Canadian ports.
Brazil’s controversial oil tender proceeds with majors winning tracts
Petrobras, ExxonMobil, Chevron and Shell, CNPC and Equinor were amongst the major oil companies winning tracts in Brazil’s latest offshore auction, which had become controversial.
Bosnia’s coal plants the biggest polluters in Western Balkans, CEE Bankwatch survey shows
Across the region, six units exceeded their individual ceilings for sulphur dioxide emissions by more than ten times last year, according to a survey by environmental NGO CEE Bankwatch.
Gas flowing from Iran to Turkey without interruption, says minister
Fifth of Turkey's oil imports pass Strait of Hormuz. Ankara confident it could replace these shipments if passage was disrupted amid conflict.
ExxonMobil ramps up drilling in Guyana’s Stabroek block ahead of freeze on new oil contracts
ExxonMobil has intensified exploration in Guyana’s prolific Stabroek block with the drilling of two key appraisal wells, Lukanani-2 and Hamlet-1, as it races to unlock further reserves ahead of the country's political freeze on new oil agreements
Hurricane Erick bears down on Mexico's Pacific coast
Hurricane Erick has rapidly intensified as it approaches Mexico's southwestern Pacific coastline, with meteorologists warning it could develop into a major hurricane before making landfall on June 19.
Nigeria’s PETROAN fights back against Dangote distribution plans
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has pushed back against plans by the 650,000 barrels per day (bpd) Dangote refinery to start distributing its petroleum products to outlets across the country.
Algeria set to invest $7bn in petrochemical & refining projects
Algeria is set to invest $7bn into new petrochemical and refining projects to move away from exporting raw hydrocarbons – aiming to produce quality chemical products instead, according to Zawya.
Mitsubishi reportedly in talks to buy Aethon’s shale assets
Japan’s Mitsubishi is reportedly in talks to buy the US shale production and pipeline assets of Aethon Energy Management.
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