Latest Stories
Mexico moves to re-start fracking
Mexico is moving toward a potential reopening of hydraulic fracturing as part of a broader push to reduce heavy dependence on imported gas, a shift that marks both a strategic pivot in energy policy and a political departure from past commitments.
Three oil majors deepen footprint in Venezuela
Texas-based Chevron Corp. has agreed to expand its position in Venezuela’s Orinoco Belt through a pair of deals with state oil company PDVSA.
China backs US-Iran ceasefire and talks
China's Wang Yi has told Iran's foreign minister Araghchi that Beijing supports the ceasefire and ongoing US-Iran talks, saying a window for peace is opening amid the war.
India’s Andhra Pradesh targets large-scale battery storage to stabilise grid
The government of Andhra Pradesh is planning to deploy 3,000 MWh of battery energy storage systems as part of efforts to strengthen grid reliability, support the integration of renewable energy and manage peak electricity demand.
US says to end temporary sanctions waiver on Iranian crude sales
The United States will not extend a 30-day waiver of sanctions on Iranian oil at sea that allowed purchases, Treasury Secretary Scott Bessent said.
Iran considering petrochemical imports after Israeli strikes hit output
Iran may turn to imports of petrochemical products to supply feedstock for downstream industries after US-Israeli air strikes hit its main production hubs earlier this month, a government spokesperson said.
Nigeria senate demands NNPCL executives answer $130bn audit queries
Nigeria’s Senate has summoned senior executives of the national oil company (NNPCL) to respond to unresolved audit queries totalling $130bn covering the period from 2017 to 2023
Ghana steps in to cap fuel costs as global oil volatility tests fragile recovery
Ghana will temporarily subsidise fuel prices from April 16, absorbing part of pump costs to shield households and businesses from global oil price volatility, the government said.
Argentina’s Vaca Muerta boom faces infrastructure bottlenecks despite rising output
Argentina is on track to reach record oil production driven by the Vaca Muerta shale formation, with officials and industry executives pointing to strong export potential.
Kenya fuel prices surge as global oil shock offsets tax cut
Kenya has raised fuel prices sharply in its latest monthly review, with diesel increasing by a record KES 40 ($0.30) to KES 206 ($1.59) per litre and petrol rising by KES 28 ($0.21) to a similar level, despite a reduction in value added tax
Tanzania secures IFC backing for energy and rail projects under Vision 2050
The International Finance Corporation (IFC) has pledged support for Tanzania’s Vision 2050 development framework, with a focus on electricity, ports and rail infrastructure.
Czech PM Babiš says first steps towards ČEZ nationalisation to take place in June
Czech billionaire Prime Minister Andrej Babiš said that his government is to take first steps towards the full nationalisation of the majority state-owned energy utility ČEZ at the company’s June shareholders meeting.
Poro Power reaches financial close on Korhogo solar project in Ivory Coast
Poro Power 1 has secured an initial €43mn ($50.7mn) from a €65mn ($76.7mn) green bond, reaching financial close for its 66MW Korhogo solar project in northern Ivory Coast.
US OFAC reportedly allows Romania to restart Lukoil’s Petrotel refinery
Romania will be able to restart operations at the Petrotel refinery owned by Russia’s Lukoil within 45 days, after receiving a sanctions waiver from the US Government, Energy Minister Bogdan Ivan announced.
Paraguay eyes $1bn Singapore carbon windfall investments
Paraguay’s government expects carbon credit investments from Singapore to exceed $1bn, following a high-level diplomatic mission to Asunción led by Singapore’s Sustainability and Environment Minister Grace Fu
Kenya targets December start for South Lokichar oil exports as Gulf Energy takes over Tullow assets
Kenya expects commercial crude oil exports from its South Lokichar fields in Turkana County to begin by December, marking a potential milestone in the country’s long-delayed oil development programme.
Kazakhstan rises to 24th in Climatescope clean energy ranking
Climatescope ranking of clean energy investment attractiveness among emerging markets, up from 54th in 2017.
Algeria grants BP new exploration licence in Eastern Basin
The Algerian government decided to award British energy major BP a new licence to explore for oil and gas in the country’s eastern basin
Bangladesh RMG output falls up to 30% amid energy crunch
Bangladesh’s ready-made garment (RMG) sector has seen production capacity drop by 25–30% due to acute shortages of gas and electricity, industry leaders said, warning that the disruption is undermining export competitiveness.
Vena Energy funds 80.6MW solar site in Philippines
Singapore-based Vena Energy, an independent renewable energy producer with a regional portfolio exceeding 40GW, has successfully finalised the funding for its Astra Solar Power Project in Currimao, Ilocos Norte, in the Philippines.
Taiwan flights drop 1.7% as fuel costs surge
Taiwan will see international flights fall by 52.6 per week in May, a 1.7% contraction of the original schedule, as global fuel prices surge. Data from the Civil Aviation Administration (CAA) showed the reduction during a legislative hearing.
India showcases 18 hydrogen startups, pushes funding drive
India’s growing hydrogen startup ecosystem took centre stage as the Ministry of New and Renewable Energy (MNRE) organised a one-day Hydrogen Startup Exhibition, bringing together 18 early-stage firms working across the green hydrogen value chain.
South Korea secures 273mn barrels of Middle East oil
South Korea has guaranteed the delivery of 273mn barrels of crude oil from four Middle Eastern nations by the end of the year, presidential chief of staff Kang Hoon-sik announced on April 15.
US energy envoy visits Caracas as Chevron deal signals deepening oil ties
The agreement, signed at Miraflores Palace, increases Chevron’s stake in the Petroindependencia joint venture to 49% and grants access to develop the Ayacucho 8 block as part of the Petropiar project with state-owned Petróleos de Venezuela
Follow us online