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AEC presents African Energy Person of Year 2026 award to Nigeria’s Aliko Dangote
The African Energy Chamber (AEC) has presented the “African Energy Person of the Year” award to Nigerian businessman and industrialist Aliko Dangote, the founder, president and CEO of the Dangote Group.
Ukraine's drone campaign bites into Russian fuel supply as refinery damage forces emergency imports from Belarus
Russia's purchases of Belarusian gasoline on the St Petersburg commodity exchange exceeded 17,000 tonnes in early May — roughly 58-times the volume bought in the same period last year.
Output of Czech hydro plants drops by 30-50% amid continued drought
Fears this year’s drought could be the worst in 65 years, after Czechia registered only 32mm of rainfall in March and April.
India’s Morbi ceramic cluster hit by supply chain disruptions linked to Middle East conflict
The Indian ceramic and tiles industry, which maintains a deep trade link with the countries in the Middle East region, has been severely affected by the conflict involving the US, Israel and Iran.
Diplomatic progress prompts cautious resumption of Hormuz transit
The tentative reopening of the Strait of Hormuz has allowed critical LNG and crude tankers to resume transit amid progressing US-Iran diplomatic negotiations.
Morocco cuts gas imports from Spain as renewable energies expand
Morocco has reduced imports of natural gas delivered through Spain as the North African country increases its reliance on renewable energy and continues efforts to diversify energy suppliers and sources.
Egypt’s natural gas production down 8% y/y in Q1 2026 to 9.85bn cubic metres
Egypt’s natural gas production declined by 8% year-on-year (y/y/) in Q1 2026, driven by continued pressure on domestic output as demand remained elevated.
EBRD plans to extend $200mn financing for Egypt wind projects
The European Bank for Reconstruction and Development (EBRD) is considering providing up to $200mn in senior loans to support the construction and development of 500MW of onshore wind capacity in Egypt
South Africa’s utility Eskom delivers one full year of uninterrupted power supply
On May 16, South Africa’s state-owned power utility Eskom marked a full year without crippling power outages, or loadshedding, achieving a milestone not seen since September 2018, eight years earlier.
Norway overtakes Russia as world's top gas pipeline exporter
Norway overtook Russia as the world’s biggest exporter of gas via pipeline in 2025, reflecting Moscow’s loss of most of its market share in Europe over the past four years.
Baghdad accelerates efforts to revive crude exports
The Iraqi government is intensifying negotiations with international energy companies to restart shuttered oilfields as Baghdad urgently seeks to circumvent the ongoing closure of the Strait of Hormuz
Over 80 killed in China coal mine gas explosion
More than 80 people have been killed and two remain missing after a gas explosion at a coal mine in central China, officials said, in the country’s deadliest mining disaster since 2009.
Hungary in talks to buy 1bn cubic metres of Romanian Black Sea gas annually
Hungary's new government is expected to decide within weeks on a contract to buy 1bn cubic metres of gas annually from Romania's Neptun Deep Black Sea field, Index has reported, citing informed sources.
US and Iran near 60-day ceasefire extension with gradual Hormuz reopening
US and Iran are close to agreeing a 60-day ceasefire extension including gradual reopening of the Strait of Hormuz, Financial Times reports, as Pakistan's army chief leaves Tehran after productive talks.
Egypt’s Agiba Petroleum announces major gas discovery in Western Desert
Egyptian upstream oil and gas operating company Agiba Petroleum has announced a new natural gas discovery in the Western Desert with estimated reserves of 330bn cubic feet of gas, alongside around 10mn barrels of condensates and crude oil
Explosion at MOL’s petrochemical base kills one person
An explosion during a restart operation at a MOL petrochemical plant left one person dead and several seriously injured, in the second major incident at MOL's Hungairan units in less than a year.
Can Chinese investors revive Nigeria’s troubled state-owned refineries?
Nigeria may give Chinese firms long-term operational and ownership stakes in the troubled Port Harcourt and Warri refineries; repeated state-led rehabilitation efforts have failed to restore stable operations.
Tehran Energy Exchange prepares to list first solar power plant project fund
Iran's Energy Exchange is preparing to list the country's first solar power plant project investment fund, with subscription expected to open within a month, the exchange's market development deputy has said.
The geopolitical chokehold on Taiwan's polymer lifeline
For Taiwan, the sudden evaporation of naphtha and crude oil is not just a market fluctuation but a national security threat that will force an involuntary and painful "detoxification" from its plastic addiction.
Kazakh special economic zone court rules in favour of Ukraine over Russia
Ruling in Naftogaz versus Gazprom case sends reassuring signal to potential foreign investors.
NextEra reported to be buying Caliber, setting up shale JV with Quantum
NextEra Energy has reportedly agreed to buy Caliber Resource Partners for $1.3bn from private equity firm Quantum Capital Group and has also set up a joint venture with Quantum to manage its US shale assets.
Russia plans to build nine fast-neutron nuclear power units by 2042
Russia plans to build nine fast-neutron nuclear power units by 2042 as part of its long-term electricity generation strategy, according to Alexander Lokshin, first deputy director-general of the state nuclear corporation Rosatom.
Devon dominates onshore lease sale in Delaware Basin
Devon Energy spent $2.6bn on leases in the New Mexico portion of the Permian Basin’s Delaware sub-basin in a federal onshore lease sale held on May 20.
Egyptian firm Enppi secures $355mn deal for integrated energy project in Oman
Egyptian oil engineering and energy services firm Enppi has secured a $355mn contract to execute the integrated Badour North-East Birba project in Oman on behalf of Petroleum Development Oman (PDO)
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