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Russia’s oil and gas revenues fall 25% in September, deficit seen rising
Moscow faces fiscal pressures as it grapples with declining energy income and rising spending.
Tanzania pushes for $42bn LNG deal with Shell, Equinor by end-2025 after decades of delays
Tanzania is pressing ahead with plans to conclude a $42bn LNG deal by end-2025, targeting output of up to 10mn tonnes annually, drawing on offshore reserves operated by Shell (UK, Blocks 1 & 4) and Equinor (Norway, Block 2).
Botala Energy posts wider loss, sets 2027/28 target for first gas in Botswana
Botala Energy reported a wider annual loss as it develops the Serowe coal bed methane project in Botswana. The company secured a mining licence, raised fresh capital, and signed an LNG offtake deal, targeting first gas supply by 2027/28.
Ethiopia contracts China’s GCL to build $2.5bn refinery in Somali region
Sovereign wealth fund Ethiopian Investment Holdings (EIH) will co-develop the $2.5bn oil refinery with China’s Golden Concord Group (GCL)
MidOcean to buy 20% stake in Petronas’ Canadian operations
MidOcean Energy has agreed to acquire a 20% interest in what it describes as Petronas’ “key” businesses in Canada.
Alberta to propose new oil sands pipeline to BC coast
The Alberta government has unveiled plans to submit a proposal to the Canadian Major Projects Office for a new pipeline for transporting oil sands crude from the province to British Columbia’s northwest coast.
Rhino Resources announces gas condensate discovery at Volans-1X well in Namibia’s Orange Basin
Independent oil and gas exploration and production (E&P) company Rhino Resources has announced a significant gas condensate discovery at the Volans-1X well on Block 2914A in Namibia’s Orange Basin.
Nigeria’s PENGASSAN calls for reinstatement of 800 Dangote refinery employees
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Trade Union Congress (TUC) have criticised Dangote refinery’s management for its treatment of workers.
Mexican tycoon Carlos Slim invests $2bn in Veracruz oil field as Pemex drowns in debt
Mexican businessman Carlos Slim has expanded his involvement in the country’s hydrocarbons sector through a new drilling agreement with the state-owned oil company Petróleos Mexicanos (Pemex).
Somalia to launch first oil drilling campaign within months, after decades of sporadic exploration, says president
Somalia’s President Hassan Sheikh Mohamud has announced the country’s first-ever oil drilling campaign will begin within months.
Bulgaria aims to become regional leader in small modular reactors, says energy minister
Bulgaria will leverage its favourable geographical location and diverse energy mix, Minister of Energy Zhecho Stankov said.
OPEC+ set to approve output hike
OPEC+ is set to raise oil output in November and aims to reclaim its global market share, according to Bloomberg.
Eskom swings to first profit in eight years as outages plunge, flags audit risks
Eskom’s turnaround was aided by tariff hikes, cost cuts and a government $14.1bn debt-relief package. It comes as load shedding eases, but auditors flagged governance concerns and rising municipal arrears.
RWE pulls out of $10bn Namibia hydrogen project as EU demand for green ammonia falters
German utility RWE has withdrawn from Namibia’s $10bn Hyphen Hydrogen Energy project, citing slow EU demand for hydrogen derivatives. The scheme aimed to export green ammonia by 2027.
Korea’s EPC solar sector is under strain: a look at EPC firm GRANDSUN and the road ahead
For the country’s engineering, procurement and construction (EPC) firms - the companies that design, build and then maintain solar projects, the challenge is more and more about how to adapt.
Russia launches a revolutionary industrial-scale closed fuel cycle reactor
President Vladimir Putin claims Russia has made a nuclear technology breakthrough and has developed a closed fuel cycle power system to tackle global uranium shortages.
How Azerbaijan's oil prince went from dining with Messi to facing decades in prison
Adnan Ahmadzada is accused of contaminating 200,000 tonnes of his country's oil exports with corrosive chemicals and facilitating billions in Russian sanctions evasion.
Indonesia’s World Bank debt and the price of a green transition
Indonesia is routinely listed among the World Bank’s largest borrowers, second only to India in some recent tallies, reflecting an outstanding balance with the Bank running into the tens of billions and placing Indonesia among the top 10 debtors
TotalEnergies inks Heads of Agreement LNG deal with Hyundai Chemical
French supermajor TotalEnergies signed a Heads of Agreement with South Korea’s Hyundai Chemical.
ADNOC’s subsidiary XRG acquires stake in Rio Grande LNG project in Texas
The United Arab Emirates’ state-run oil and gas company ADNOC announced that its investment vehicle XRG has closed its acquisition of an equity stake in NextDecade’s Rio Grande LNG project located in Brownsville, Texas.
Croatian PM angrily rejects Hungarian accusations of war profiteering
"We're the good guy," says Andrej Plenkovic after Hungarian foreign minister claims Zagreb is profiting from disruptions in Russian supplies.
Nigeria upstream regulator clears TotalEnergies’ $510mn Bonga stake sale
Nigeria’s NUPRC has cleared TotalEnergies’ $510mn sale of its 200,000-bpd Bonga field stake to Shell and Agip. The deal lifts Shell’s OML 118 holding to 65% while TotalEnergies pursues a $3.5bn global asset sale programme.
Trump lavishes praise on Erdogan in White House meeting and suggests Turkey stop buying Russian oil and gas
Some big military and civilian aircraft deals may be in the making, but the deal-making remains behind closed doors.
US DoJ weighs in on Line 5 dispute, sides with Enbridge
The US Department of Justice has waded into a long-running dispute between Enbridge and the State of Michigan over the Line 5 oil and natural gas liquids pipeline.
Sempra agrees to sell infrastructure arm stake, approves Port Arthur LNG expansion
Sempra has agreed to sell a 45% equity stake in its Sempra Infrastructure Partners unit for around $10bn, while also taking a final investment decision on Phase 2 of Port Arthur LNG.
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