Latest Stories

Egypt-Ethiopia GERD dam talks yielded no significant progress, Egypt’s water ministry says

29 August 2023

The Egyptian Ministry of Water Resources and Irrigation issued a communiqué on August 28, stating that the two days of formal talks in Cairo involving Egyptian, Ethiopian and Sudanese officials failed to yield a substantial shift in Ethiopia's stance

EU again voices concern over buying refined Russian oil from India, without solutions

29 August 2023

The EU once more this weekend vented frustration at the “rapid” increase in Indian refined oil product exports to Europe that have been produced using Russian crude, without suggesting a proposal for curbing this trade.

Russia's Sibur breaks ground on new $2.1bn polypropylene plant

29 August 2023

Russia’s largest petrochemicals producer Sibur has broken ground on a new polypropylene unit in Tobolsk in the Urals region, the company reported on August 25.

“All signs point to Ukraine,” German investigation into Nord Stream 1&2 pipelines bombing finds

29 August 2023

A year has passed since a series of underwater explosions destroyed the Nord Stream 1&2 pipelines ending Russia’s delivery of gas to Germany. An official investigation has concluded that “all signs point to Ukraine,” Der Spiegel reports.

Colombia’s Ecopetrol given go-ahead to take out $1bn loan

29 August 2023

Colombian state energy company Ecopetrol has been given the go-ahead by the Ministry of Finance to contract a loan with international banks for up to $1bn to finance its 2023 organic investment plan, the company revealed on August 28, Reuters reports

EDB is to fund Armenia's first independent 50-MW power unit at Hrazdan TPP

29 August 2023

Unlike previous ventures backed by government guarantees for electricity purchases, this initiative is financed by a $26mn loan from the Eurasian Development Bank (EDB) to H Energy Solutions, a subsidiary of the Tashir Group.

Ecopetrol announces social investments of $186mn in Colombia

29 August 2023

Ecopetrol is planning social investments of COP 767bn ($186mn) to contribute to improving Colombians' quality of life, and to facilitate a just and equitable energy transition.

RISK ADVISORY: Changing Sonangol – can Angola finish what it started?

29 August 2023

After a promising start, President João Lourenço’s ambitious plan to reform Angola’s state oil company Sonangol appears to have ground to a halt.

Thousands join protest against fuel prices in Colombia

29 August 2023

Thousands of motorists joined a protest in Bogota, Colombia over an increase in the price of petrol. Members of congress Jennifer Pedraza and Jonathan Ferney Pulido initiated the protest and accompanied the demonstrations.

Pertamina signs raft of African deals during Indonesian president's tour

29 August 2023

Indonesia’s state-owned oil and gas company Pertamina signed several agreements with African countries last week during a tour of the region by President Joko Widodo, who attended the BRICS summit in South Africa.

China to build a nuclear power plant in Saudi Arabia

29 August 2023

Saudi Arabia is reportedly contemplating a Chinese proposal to construct a nuclear power plant (NPP) only a week after the Kingdom was offered a place in the expanded BRICS+ club designed to counter a Western hegemony.

Egypt’s oil ministry plans to launch international tender for 8-10 concessions

29 August 2023

Egypt’s oil ministry plans to launch a tender for companies to explore for oil and natural gas in 8-10 concessions by the end of this year or the beginning of 2024. These will likely be concentrated in the Gulf of Suez, Red Sea and the South Valley.

Regional rig operator ADES aims to raise $1bn through IPO

29 August 2023

Saudi-based oil and gas services firm Advanced Energy Systems (ADES) is aiming to raise $1bn through offering 30% of its shares in an initial public offering on Tadawul, the Saudi stock exchange.

Zambia's copper pipe dream

29 August 2023

Zambia has a plan to transform the economy, but its one that rests on precarious foundations. As the global landscape shifts towards renewable energy, demand for copper is expected to fly.

Eni starts oil and gas production at huge Ivory Coast offshore field Baleine

29 August 2023

Eni has begun oil and gas production at the huge Baleine field in deep waters offshore Ivory Coast, just two years after its discovery, the Italian energy major announced on August 28, confirming a previous statement by the Ivorian energy ministry.

Mexican regulator signs off Zama oil field development plan

29 August 2023

The Pemex-led joint venture is now preparing to start the front-end engineering design and reassess cost estimates ahead of a potential final investment decision in 2024.