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Museveni says Uganda’s oil revenues will fund infrastructure to cut business costs

Uganda's president says revenues from the country’s oil and gas sector, set to be commercialised in 2026, will be directed toward transport, energy and industrial infrastructure to cut business costs, with annual inflows projected at $1bn–$2.5bn.

Israel approves $35bn Egypt gas export deal linked to Leviathan field

Israel has approved a $35bn natural gas export agreement with Egypt, expected to build on Leviathan-linked exports and deepen Eastern Mediterranean energy cooperation while supporting Egypt’s LNG export capacity.

LNG supply crunch as carrier orders outstrip shipping capacity

The global LNG market is facing a supply crunch as planned liquefaction capacity is outpacing the number of new carriers set to enter service by 2030, Argus Media reported on December 18.

Kazakh pipeline operator KazTransOil opens branch office in Poland, first in EU

The board of directors of Kazakh state-run pipeline operator KazTransOil (KZTO) has authorised the opening of a branch office in Poland. The office is the company’s first official representation within the EU, the company said in a statement.

Japan offshore wind projects reach financial milestone

Leading energy groups spearheaded by JERA, Mitsui, and Sumitomo have now finalised their mandatory guarantee payments for offshore wind developments secured during the second national tender.

Russia’s evolving “no limits” defence and nuclear partnership with India

Russia and India have instituted what amounts to a "no limits” partnership, a phrasing previously reserved for Moscow's relationship with Beijing.

BP announces first oil from Atlantis Drill Center 1 expansion in US Gulf

BP has achieved first oil from the Atlantis Drill Center 1 expansion project in the US Gulf of Mexico.

India emerges as semiconductor design hub, deepening tech ties with Singapore

India is moving beyond its traditional role as a backend assembler and is increasingly positioning itself as a design and innovation centre in the global semiconductor industry, according to a senior figure at the Singapore Manufacturing Federation

Shell sanctions Kaikias waterflood project in US Gulf

Shell has taken a final investment decision on a waterflood project at its offshore Kaikias field in the US Gulf of Mexico.

Pakistan moves to limit net-metered solar

Pakistan’s power regulator is preparing to scale back incentives for net-metered solar consumers, signalling a policy shift aimed at easing pressure on financially strained electricity utilities as rooftop generation expands rapidly.

Philippines gains ground as hub for sustainable finance in Asia-Pacific

The Philippines is emerging as an increasingly important market for sustainable finance in the Asia-Pacific region, supported by a growing pipeline of renewable energy projects and rising power demand from data-driven industries.

India set to drive global coal demand growth to 2030 despite cleaner power push

India is expected to contribute the largest absolute increase in coal consumption globally through the end of the decade, even as overall demand for the fuel plateaus and begins to ease worldwide

Pakistan textile mills seek winter waiver on gas levy amid power reliability risks

Pakistan’s textile manufacturing sector has formally sought a temporary waiver on gas levies for captive power generation as it braces for acute winter-related energy disruptions that threaten production schedules and export commitments

Vena Energy lines up global lenders for landmark Philippine solar project

Vena Energy has reached a financing milestone for its 300 MW-peak Opus solar project in the Philippines, underscoring the growing appetite among international lenders for large-scale renewable energy investments in south-east Asia.

Tata Power moves towards decision on major solar wafer and ingot plant

Tata Power is currently assessing potential locations in the eastern and southern states of Odisha, Tamil Nadu and Andhra Pradesh.

India’s POWERGRID secures much needed inter-state transmission project

Once completed, the new transmission corridor is expected to improve grid reliability, support the evacuation of renewable energy from resource-rich regions and reduce congestion during periods of peak demand.

Brazil’s Petrobras receives four bids for $1bn-plus subsea systems contract at Sepia field

Four companies have submitted commercial proposals in a tender held by Brazilian state-owned oil major Petrobras to contract a large subsea umbilicals, risers and flowlines system to serve the Sepia-2 pre-salt project in the Santos basin

Brazil’s Petrobras strike enters third day with 28 platforms affected as output remains stable

A strike at Brazil's state-owned oil major Petrobras expanded to 28 offshore platforms and nine refineries on its third day on December 17

Brazil faces oil output decline after 2030 as new field discoveries plummet, gas imports rise

Brazil's oil and gas self-sufficiency faces threats in the coming decade as new field discoveries plummet and domestic production approaches its peak.

Laos opens first 400 kW EV fast-charging hub in Savannakhet

Laos has taken a major step towards expanding its electric transport infrastructure with the opening of a high-capacity electric vehicle (EV) charging station at the Seno Rest Area in Savannakhet province

First Vietnamese-made 132/33 kV transformer goes live in Australia

Vietnam has recorded a significant export milestone after a 70 MVA, 132/33 kV power transformer, designed and manufactured by Dong Anh Electrical Equipment Corporation (EEMC), was successfully energised and brought into operation in Australia

Iranian business leader alleges corruption blocking oil revenues

An Iranian business leader accused Iran's Central Bank and the Oil Ministry of “clear corruption”, claiming that billions of dollars in oil revenues had failed to return to the country due to the use of intermediary trusts and exchange houses.

Iran feeds associated gas into national grid from western plant

An associated petroleum gas (APG) processing plant in western Iran has pumped treated gas into the national trunkline for the first time, as cold weather drives up energy demand in the country.

MOL signs upstream agreement with SOCAR

Saudi Midad Energy emerges as frontrunner for Lukoil assets

With an all-cash bid and close ties in both Moscow and Washington, Saudi Midad Energy emerges as top bidder for $22bn foreign asset portfolio of sanctioned Russian oil major Lukoil