Latest Stories

Brazil’s Petrobras eyes Venezuela expansion, assesses Chevron’s return

10 October 2023

Petrobras, the Brazilian state-controlled oil giant, is examining Chevron's resumption of operations in Venezuela and considering re-establishing its own presence in the oil-rich country, Petrobras CEO Jean-Paul Prates said.

Hyundai and Kia to adopt Tesla EV-charging standard in US

10 October 2023

Hyundai Motor and Kia will move to Tesla's electric vehicle charging technology in the US starting in the fourth quarter of 2024. Adapters will be offered for earlier models.

US and China avoid pledging to UN Green Climate Fund

10 October 2023

Although they are the world’s two largest polluters, the US and China have failed to pay into the UN Green Climate Fund, which helps vulnerable nations cope with climate change.

‘Gobsmackingly bananas:' Record temperatures in September shock climate scientists

10 October 2023

Global temperatures were so high in September that one climate scientist has described the situation as “absolutely gobsmackingly bananas.” Records were broken in September, and August and July were also the hottest ever.

San Leon Energy gets $187mn investment from TRAM, ups stake in Nigerian crude transport company

10 October 2023

AIM-listed San Leon Energy has received an investment of up to $187mn from US-based Tri Ri Asset Management (TRAM), which it said on Tuesday, October 10 it has used to raise its stake in Energy Link Infrastructure.

EDF abandons plan to build 50-MW solar farm in Colombia

10 October 2023

EDF Renewables intends to exit a solar power project in Colombia.

Balticconnector pipeline between Estonia and Finland shut down due to gas leak

10 October 2023

A possible leak put the Balticconnector gas pipeline between Estonia and Finland offline. The undersea pipeline experienced a pressure drop which prompted system operators on both sides to cut off the gas.

Var Energi to sell entire stake in mature Norwegian field

10 October 2023

Var Energi has struck a deal with fellow Norwegian player Petrolia to divest its entire stake in a Northern North Sea field as part of its push to optimise its portfolio.

Ratch Group acquires majority stake in Ecowin wind power project in Vietnam

10 October 2023

Thailand's Ratch Group Public Co., Ltd. has expanded its renewable energy portfolio by acquiring a 51% stake in the Ecowin wind power project, located in the Mekong Delta province of Ben Tre, Vietnam.

Shell sees gas-trading performance strengthen in Q3

10 October 2023

With European demand for LNG remaining strong, UK major Shell enjoyed a rebound in earnings from its gas-trading operations in the third quarter, after taking a hit to that segment during the previous three-month period.

Ukrnafta seeks investors to develop 21 oil and gas fields

10 October 2023

The Ukrainian state oil and gas extracting company Ukrnafta is seeking investors to develop 21 oil and gas fields in Ukraine, UBN reported on October 10.

COMMENT: Oil markets on tenterhooks as Hamas attack on Israel stokes contagion fears

10 October 2023

Global oil markets face the possibility of a price spike following the surprise attack by Hamas militants on Israel, which has seen hundreds killed and the start of a new war that could potentially threaten energy flows in the region.

Iran parliament approves key energy production bill

10 October 2023

Iranian lawmakers approved in principle a section of the country’s Seventh Development Plan that lays out an ambitious vision for fuel production, including oil and gas, in the next five years.

Iran’s biggest gas company produces 9.55 bcm in six months

10 October 2023

Iran’s South Pars Gas Complex (SPGC) has injected more than 9.55bn cubic metres of gas into the national transmission network in the first half of the Persian calendar year (started on March 21), said its CEO, Ahmad Bahoush.

Improving Ukraine’s corporate governance will be key to attracting billions in investment

10 October 2023

Ukraine needs to raise hundreds of billions of dollars of investment to rebuild its economy after the war is over. But as the country is dubbed one of the most corrupt countries in Europe, that will be hard unless it can improve corporate governance.

Ozone hole three times larger than Brazil opens up above Antarctica

10 October 2023

Europe’s Copernicus Sentinel-5P satellite shows that the ozone hole is one of the largest on record, according to the European Space Agency (ESA), and measured 26mn square kilometres on September 16, 2023 – roughly three times the size of Brazil.