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Venezuela oil revival under US spotlight
Venezuela’s oil industry, once the backbone of its economy, has become the focus of renewed US attention amid years of declining output and fuel shortages, according to statements by US officials and energy experts.
Baghdad appoints Woodmac to resolve Kurdish impasse as WQ-2 operator changes
Baghdad has appointed Wood Mackenzie to audit Kurdish production costs while seizing operational control of West Qurna-2 from Lukoil to insulate its output from sanctions
Offshore drilling activity stabilises in Mexico as Pemex clears contractor debts including in Veracruz
The number of offshore oil rigs operating in Mexican waters stabilised at the end of 2025 following renewed payments to contractors by state oil company Pemex and tentative signs of increased activity by international oil companies.
Vietnam eases power purchase rules to boost renewable energy uptake
Vietnam’s Ministry of Industry and Trade (MoIT) has agreed to grant greater flexibility in pricing for Direct Power Purchase Agreement (DPPA) transactions conducted through privately owned electricity grids, removing existing price band limitations
Peru to open Petroperú assets to private capital under June timeline
Peru’s government expects to sign the first contracts allowing private capital into state oil company Petroperú by June, as part of a restructuring designed to stabilise the heavily indebted refiner without relinquishing state control.
Thessaloniki-Skopje pipeline resumes diesel deliveries
Gazprom says supplies to Georgia increased 40% in 2025
Russia’s state-owned energy company Gazprom has announced on its Telegram channel that it increased natural gas supplies to Georgia by 40.4% in 2025.
Brazil oil and gas output rises nearly 14% in November, more pre-salt reserves to be developed
Brazil's oil and natural gas production reached 4.920 mn barrels of oil equivalent per day in November 2025, with crude output climbing 13.9% from the same month a year earlier despite a monthly decline.
Serbia expects binding terms on NIS sale to reach US sanctions office within days
Serbia's president expects binding term sheets for the sale of the Russian-owned majority stake in oil company NIS to be submitted to the US Treasury’s Office within 48 hours, as Belgrade races to secure the future of the country's only oil refinery.
China’s CNPC to explore for oil and gas in Tajikistan’s Khatlon province
China’s National Petroleum Company (CNPC) is planning to conduct 3D seismic exploration for oil and gas in southwestern Tajikistan’s Khatlon province, Avesta has reported.
Condor Energies announces higher gas and condensate output in Uzbekistan
Condor Energies (TSX: CDR), the Canada-listed energy transition company, has announced higher gas and condensate output in Uzbekistan, driven by expanded drilling and well workovers.
Bosnia threatens legal action over Croatia’s nuclear waste site near border
Zagreb says the site, long opposed by Bosnia, is needed to store waste from the Krško nuclear power plant.
Jordan targets eight major energy projects by 2029
Iraq’s Basra Gas launches solar power systems at eight schools
Spain says no pressure on Repsol over Venezuela investment despite Maduro ouster
Spain's foreign minister said on January 12 the government would not pressure energy company Repsol over its plans to increase investment in Venezuela, despite the complex situation following the capture of President Nicolas Maduro.
GCC plans to extend electricity links to Jordan, Iraq and Egypt
Ongoing projects aim to link the power grid of the Gulf Cooperation Council with neighbouring countries, including Jordan, Iraq and Egypt, with longer-term ambitions to extend interconnection across the Middle East and North Africa.
Nigeria’s average daily crude and condensate output reached 1.64mn bpd in first 11 months of 2025
Nigeria produced an average of 1.64mn barrels per day (mn bpd) of crude oil and condensates over the first eleven months of 2025, reflecting ongoing operational difficulties despite tentative signs of stabilisation in the upstream sector
Guyana's oil production to exceed 1mn barrels per day once Uaru gets underway
Guyana is advancing its Uaru offshore development to push national oil production decisively past 1mn barrels per day, deepening extraction in the proven Stabroek Block rather than opening new frontiers.
European consortium plans green hydrogen plant in western Ukraine
A European consortium of energy companies plans to build a green hydrogen production plant in western Ukraine, targeting exports to the EU as the bloc looks to diversify energy supplies and accelerate its transition to cleaner fuels.
Mexican government's support of Pemex surges to historic $22.0bn
Transfers from the federal government to Petróleos Mexicanos (Pemex) continued increasing towards the end of 2025, far exceeding approved amounts for the year and surpassing spending in other areas including housing and environment
Mexican Maya crude faces competition as Venezuelan barrels re-enter market
Mexican Maya crude will likely face pressure from Venezuelan barrels as Mexico's export availability contracts and Venezuelan heavy crude re-emerges in Atlantic Basin trade, S&P Global reported, citing observers and analysts.
Offshore drilling activity stabilises in Mexico as Pemex clears contractor debts
The number of offshore oil rigs operating in Mexican waters stabilised at the end of 2025 following renewed payments to contractors by state oil company Pemex and tentative signs of increased activity by international oil companies
Akrake targets January production restart at Benin’s offshore oil field Sèmè
Akrake Petroleum expects to restart oil production at Benin’s offshore Sèmè field by late January after completing drilling on the AK-2H horizontal well, marking the country’s first offshore output in decades as Rex Int'l revives legacy assets.
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