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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)
Panoro Energy targets 20,000 bpd after offshore Equatorial Guinea acquisition expansion
Panoro Energy ASA (OSE:PEN) is on track to increase net production to 20,000 bpd during 2027 following its acquisition of an additional stake in Block G offshore Equatorial Guinea. It also expanded reserves and advanced new offshore Gabon drilling.
Wind and solar overtake coal in Turkey’s power generation for first time - EMBER
Wind and solar energy generated more electricity than coal in Turkey for the first time in April 2026, marking a milestone in the country’s energy transition as strong rainfall also boosted hydroelectric output, according to Ember.
Congo pushes stronger local content and LNG expansion in energy sector talks with AEC
High-level talks between Congo’s minister of hydrocarbons and the African Energy Chamber focused on strengthening local content and advancing gas sector expansion to position the country as a regional gas hub.
Russia irked by US, EU moves to secure Central Asia critical minerals
Kremlin official talks of “attempt to push Russia out and create a Western-controlled infrastructure in the immediate vicinity of our borders".
Egypt reduces foreign oil companies’ dues to $440mn, says petroleum minister
Egypt has reduced outstanding payments owed to foreign oil companies from $6.1bn at the end of June 2024 to $440mn currently, according to a statement from the Ministry of Petroleum and Mineral Resources
Putin leaves Beijing with no Power of Siberia pipeline deal
Vladimir Putin arrived in Beijing on May 20 hoping that the Iran war's disruption to global energy markets would finally give him the leverage to close one of the most consequential energy deals of his presidency. He left empty handed.
Venezuela unveils draft oil rules to guide foreign investment push, economy expands
Venezuela has begun circulating draft regulations linked to its newly approved hydrocarbons law.
Russia oil and gas revenues up 40% in May on Iran war pressures
Russia’s oil and gas revenues are expected to jump 39% year on year in May to about RUB700bn ($9.8bn), buoyed by higher global crude prices driven by the conflict involving Iran, according to Reuters calculations published on May 20.
Fitch expects strong expansion in Egypt’s renewable energy capacity by 2035
Fitch Ratings said it is optimistic about Egypt’s power sector between 2025 and 2035, projecting significant growth in electricity generation capacity driven by large investments in renewable energy projects
Egypt plans to establish Alexandria-El Hamra refined products pipeline
Egypt’s Ministry of Petroleum is preparing to complete a new pipeline for transporting refined petroleum products from Alexandria to El Hamra Petroleum Port on the Mediterranean coast during H2 2026
Egypt to launch international oil exploration tender in Q3 2026
Egypt’s Ministry of Petroleum is preparing to launch a new international tender for oil exploration covering at least 15 sites in Q3 2026.
Dangote plans major Atlantic port project in southwest Nigeria to support oil, fertiliser exports
Dangote Industries, the parent company of a 650,000-bpd refinery, said the port would support exports of fertilisers and petrochemicals in addition to refined petroleum products
Capricorn, Cheiron sign $208mn deal to expand gas exploration in Egypt’s Western Desert
Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Capricorn Energy (LSE: CNE) and Cheiron to expand oil and gas exploration and production activities in the Badr El-Din area of the Western Desert
UAE, Kuwait expand overseas storage to safeguard Asian supply chains
Kuwait is accelerating a strategy to hold crude reserves overseas to insulate international supply chains from mounting geopolitical risks in the Gulf.
Kenya lists first infrastructure fund on Nairobi bourse with UK support
Spearhead Africa Infrastructure Fund became the first infrastructure-focused vehicle to list on the Nairobi Securities Exchange after raising $26.3mn for renewable energy, logistics and digital infrastructure projects.
Vietnam plans 270MW floating solar across hydropower reservoirs
Vietnam’s state-owned power producer EVNGENCO1 has proposed adding 270MW of floating solar capacity across three hydropower reservoirs in southern Vietnam
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