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South Korea firm wins $96mn Australian energy deal
Hyosung Heavy Industries (298040.KS) has finalised a contract worth KRW142.5bn ($96.32mn) to deliver an energy storage system (ESS) for Tangkam BESS in Australia.
Sri Lanka defends decision to hike fuel prices
Sri Lanka’s government has defended its decision to sharply raise domestic fuel prices, saying the move was necessary to discourage excessive consumption and prevent a potential supply shortage.
Philippines braces for another fuel price rise
Authorities in the Philippines are forecasting a subsequent rise in petroleum costs for the upcoming week, citing persistent instability across global energy markets.
TotalEnergies resumes oil production at Al-Mabrook field in Libya after a decade-long halt
French energy major TotalEnergies has announced the resumption of oil production at the Al-Mabrook field in Libya
US prepares offshore transfer of seized Venezuelan crude near Texas
Authorities moved last month to claim ownership of the tanker Skipper and roughly 1.8mn barrels of oil on board after the vessel was intercepted in December
Venezuela’s Rodríguez appoints hydrocarbons minister
Paula Henao, previously vice minister of petroleum, takes over a portfolio Rodríguez herself had overseen since August 2024
Cambodia keeps electricity prices stable despite fuel pressures
Cambodia’s government is absorbing higher electricity production costs to keep power prices stable despite the global fuel crisis.
Venezuela oil output tops 1mn barrels as recovery momentum builds
The increase pushed output back above the symbolic 1mn-barrel threshold, widely viewed as a key milestone in the country’s efforts to restore its energy industry after years of contraction
China connects first privately backed nuclear power unit to grid
China's first generation unit of nuclear power station in eastern Zhejiang that includes minority private investment has been successfully linked to the national power grid.
Hyundai signs Indonesia battery recycling deal with Chinese firm
Hyundai Motor Group (005380.KS) announced on March 12 that it has formalised a preliminary agreement with a Chinese firm to develop a battery recovery network within Indonesia.
South Korea to impose temporary fuel price cap system
South Korea will introduce a temporary ceiling on fuel prices starting at midnight in an effort to ease the financial burden on consumers and businesses following a sharp rise in oil costs linked to tensions in the Middle East.
Japan nuclear regulator to review deadline for anti-terror facilities
Discussions at the regulator in the coming months will focus on a proposal to start counting the five-year period from the beginning of reactor operations. Such a change would in practice amount to an extension of the current deadline.
Uzbekistan posts major February expansion in solar and wind power generation
Electricity generation from solar and wind in Uzbekistan expanded by 203% y/y in February, according to the Ministry of Energy.
Montenegro signs contract with Swiss S2P Electric to connect 70 MW Tupan solar plant to grid
Belarus signals readiness to help build Uzbekistan's nuclear power plant
Belarus has offered to assist Uzbekistan with the construction of its planned first nuclear power plant (NPP).
‘Catastrophic consequences’ could occur if war with Iran continues, Aramco says
As the US-Israeli war with Iran rages on, global oil markets are teetering on the verge of disaster, with Saudi Aramco warning that if the blockage of shipping in the Strait of Hormuz continues, there will be “catastrophic consequences.”
Uzbekistan orders sale of Enter Engineering, Eriell and Saneg assets partly to cover $131mn in wage arrears
Brazil deepwater project taps Exail tech
Exail has secured contracts to supply more than 70 acoustic transponders and navigation systems for offshore energy developments in Brazil and Angola.
Bosnia’s Stanari coal plant aims to run until 2050
Bosnia & Herzegovina’s privately owned Stanari coal-fired power plant is expected to operate until 2050.
Nigeria electricity shortage worsens as GenCos’ $2.1bn debt chokes gas supply
Nigeria’s electricity crisis is set to worsen as gas suppliers threaten to halt deliveries to thermal power plants over $2.1bn in unpaid fuel debts, pushing national power generation below 4,000MW and exposing deep financial strains sectorwide.
Gas injection begins at Brazil’s Petrobras P-78
Petrobras has started gas injection on the P‑78 FPSO, 61 days after first oil was recorded on December 31, 2025. The step, reached on March 2, 2026, moves the vessel closer to full operations and adds capacity at the Búzios field.
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