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Libya expects to resume oil exports from Es Sider port within days
Libya expects to resume oil exports from the Es Sider port within the next few days, after the key terminal remained closed for nearly a year due to protests
Egypt to add 2,500 MW of renewable energy to power grid before summer
The Egyptian government announced plans to add 2,500 MW of new and renewable energy capacity to the national electricity grid before the coming summer.
Harbour to enter US Gulf with LLOG acquisition
Harbour Energy has agreed to acquire LLOG Exploration from LLOG Holdings for $3.2bn, giving it a presence in the US Gulf of Mexico.
COMMENT: US control of Venezuelan oil can earn Indian refineries optimal margins
Reliance's Jamnagar refining complex is a 1.4mn barrel per day facility incorporating proprietary cracking and coking capacity, and was architecturally engineered for Venezuelan heavy-sour crude processing
TechnipFMC wins contract for BP’s Tiber project in US Gulf
TechnipFMC has been awarded an integrated engineering, procurement, construction and installation contract by BP for the offshore Tiber project in the US Gulf of Mexico.
Venezuela’s ultra-heavy and super-sour Orinoco sludge will be manna from heaven for US refineries for decades to come
Donald Trump’s grab of Venezuela’s oil is not just about making money. He is also grabbing an ultra heavy grade of highly sulphurous oil that is very difficult to refine. That sounds bad and normally it would be.
Rubio unveils three-phase plan for Venezuela
Secretary of State Marco Rubio outlined Washington's post-Maduro blueprint for Venezuela, unveiling plans to seize up to 50mn barrels of the country's oil whilst asserting what he called "tremendous control and leverage" over Caracas' interim regime
IntelliNews Lambda: Europe’s gas storage unusually full at 85% despite cold snap, forecast path largely unchanged
Europe's underground gas storage facilities remain unusually full for this point in the heating season, with inventories at 85.1% on January 7, according to aggregated data from GIE.
Venezuela oil shipments to US set to continue as sanctions eased
Venezuela is set to ship sanctioned crude oil to the US on an open-ended basis after Washington agreed to selectively ease restrictions to allow the crude to be sold on international markets
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.
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