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US seizes Russian tanker despite submarine escort stoking tensions

The United States has seized an oil tanker, now known as the Marinera and registered under the Russian flag, after a week-long pursuit, Reuters has reported, citing US officials.

Uganda, Tanzania say first crude exports via EACOP will start in October 2026

Energy ministers from Uganda and Tanzania have announced that the first exports of crude oil from Uganda’s oilfields via the East African Crude Oil Pipeline (EACOP) will take place in October 2026.

South Africa's FirstRand secures $300mn DFI facility to boost renewable energy financing

Germany’s DEG, France’s Proparco and the Netherlands’ FMO have jointly provided a $300mn financing facility to FirstRand to support renewable energy investment in South Africa.

Russia deploys submarine to escort tanker targeted by US near Venezuela

Russia has sent a submarine and naval assets to escort a rusting oil tanker formerly known as Bella 1, now renamed Marinera, in a significant escalation of maritime tensions with the United States, The Wall Street Journal reported on January 6.

BP plans to boost drilling investments in Egypt in 2026

UK energy major BP plans to increase its investments in Egypt by implementing new drilling programmes in 2026 and fast-tracking production from recent discoveries.

Libya cuts gas flaring by 100mn cubic feet per day through five major projects

Libya’s NOC succeeded in reducing natural gas flaring by more than 100mn cubic feet per day, following the implementation of a package of strategic projects aimed at capturing and utilising associated gas instead of burning it

Venezuelan authorities to turn over 30mn-50mn barrels of sanctioned crude to the US

US President Donald Trump announced on January 6 that Venezuelan authorities will turn over 30mn to 50mn barrels of sanctioned crude to the US, redirecting exports from China to the US.

General strike paralyses transport across Algeria amid fuel price hikes and new traffic law

UAE’s Alcazar in talks to acquire Egyptian Gabal El-Zeit wind farm for up to $350mn

The UAE-based Alcazar Energy is in negotiations with the Sovereign Fund of Egypt and the Egyptian Ministry of Electricity to finalise the acquisition of the Gabal El-Zeit wind power complex on the Red Sea coast

Egypt signs two agreements to supply Syria with gas and petroleum products

Egypt has signed two agreements with Syria to supply natural gas for electricity generation and to meet the country’s needs for petroleum products

Despite reserves, Venezuela produces little oil – STATISTA

On January 3, the US military conducted a series of strikes across northern Venezuela including in the capital, Caracas, and extrajudicially captured Venezuelan President Nicolás Maduro and his wife, Cilia Flores, Statista reports.

Fitch awards top local rating to Taipower’s planned bond issue

Fitch continues to align Taipower’s long-term issuer rating with that of the Taiwanese sovereign, reflecting what it describes as an exceptionally strong likelihood of state support.

New infield wells see Iran’s South Pars gas output hit record

Iran’s Oil Minister Mohsen Paknejad said natural gas extraction from South Pars surged to an all-time high of 725mn cubic metres (mcm), helped by drilling new in-field wells at the world’s largest gas field.

Venezuela’s oil will cost US oil firms billions of investment before earning dollar one

US President Donald Trump says that the US will take over running Venezuela and get the oil sector back on its feet so everyone can “make lots of money.” But underinvestment and corruption means they will have to invest billions first.

Libya's oil revenues rise 15% y/y to $21.9bn in 2025 on higher production

Libya’s National Oil Corporation (NOC) said the country’s oil revenues reached $21.9bn in 2025, marking a 15% year-on-year (y/y) increase, supported by the highest average production levels in a decade.

Demand for wildfire catastrophe bonds surges in 2025

The market for wildfire catastrophe bonds surged in 2025, with more than $5bn in new issuance — more than double the previous year’s total — as investors start to grapple with the accelerating Climate Crisis.

Baker Hughes to supply Commonwealth LNG with liquefaction equipment

Energy equipment and services provider Baker Hughes will provide liquefaction equipment to Commonwealth LNG.

Venezuela crisis draws India’s concern after US military action

New Delhi called on all parties to resolve differences through dialogue to preserve peace and stability in the region.

China takes over 20 sanctioned Russian LNG shipments despite Western curbs

China received 22 shipments of LNG in 2025 from two Russian export projects subject to US and European Union sanctions, highlighting Beijing’s continued engagement with Moscow’s energy sector.

Turkey’s Botas and Woodside agree to 9-year LNG deal

Turkish state-owned petroleum pipeline corporation Botas has signed a sales and purchase agreement with Australia’s Woodside energy.

Algeria eases transport tensions following fuel price hikes and controversial traffic law

Rubio clarifies US role in Venezuela following Maduro capture

US Secretary of State Marco Rubio has said that Washington would control the direction of events in Venezuela rather than directly govern the country, seeking to clarify President Donald Trump's previous statements.

US grants NIS sanctions reprieve as Gazprom, MOL near deal

Serbia’s Russian-controlled oil refiner NIS can resume operations until January 23, easing supply pressures after sanctions halted crude imports.

China’s BYD to leave Tesla in its wake after record EV sales in 2025

The Shenzhen-based auto giant said it sold 2.26mn fully electric vehicles over the year, according to a filing to the Hong Kong Stock Exchange on January 1.

Japan turns sustainable finance ambition into delivery

Japan’s sustainable finance agenda moved from vision to execution in 2025, marking a year in which policy intent, market standards and capital mobilisation began to align at scale.