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Lechería energy hub plan runs up against Venezuela’s infrastructure strains
The initiative, led by the mayor’s office in Urbaneja, draws on recent changes to the Hydrocarbons Law that open the door to greater private and overseas participation in the sector
Brazil’s Petrobras beats output targets
Petrobras said its oil production averaged 2.40mn barrels per day in 2025, surpassing the upper limit of the target set in its 2025–2029 business plan.
Russia says US yet to free crew from seized tanker in Atlantic
The US has yet to release two Russian sailors detained after American forces seized a Russian-flagged oil tanker in the North Atlantic this month, Russia’s foreign minister said
Portugal’s Galp doubles down on upstream in Brazil
Portugal’s Galp will prioritise expanding oil and gas output in Brazil and Namibia while considering a stock market listing of parts of its downstream business within two years, co-chief executive João Diogo Marques da Silva said.
Brazil’s Petrobras orders new gas fleet
Brazil’s state-controlled oil company Petrobras and its logistics arm Transpetro have signed contracts worth BRL2.8bn ($521mn) for the construction of gas carriers, barges and pushers.
Bulgaria takes 10% stake in Black Sea oil and gas exploration consortium
"The cheapest gas is our gas," energy minister says as Bulgaria acquires a 10% stake in the consortium exploring for oil and natural gas in the Han Asparuh offshore block.
Venezuela scraps fuel import taxes under Delcy Rodríguez decree
Venezuela’s government has waived value-added tax, import duties and customs regime fees on imports and domestic sales of hydrocarbon-derived fuels, extending relief to state-run, mixed-capital and private companies
Rio Tinto reports copper production surge at giant Oyu Tolgoi mine in Mongolia
Anglo-Australian mining giant Rio Tinto (ASX, NYSE, LON: RIO) has reported a surge in copper production at the underground expansion of its giant Oyu Tolgoi mine in Mongolia.
MOL shares hit seven-year high after Russia agrees to sell NIS stake
Shares of Hungarian oil and gas company MOL surged to their highest level since 2007 after Russia agreed to sell its majority stake in Serbia’s NIS to MOL.
Azerbaijan’s oil and gas investment falls 10.3% y/y as pipeline oil transport declines
Sanctioned Russian Lukoil sells 50% in Mexico’s Block 4 project
Sanctioned Russian oil major Lukoil continues divestment of foreign assets with the sale of Mexican Block 4 oil and gas project
Serbia plans first nuclear power capacity by 2042 – report
Serbia aims to bring its first 250 megawatts of nuclear power online by 2042, the World Nuclear Association (WNA) said in a report presented at the World Economic Forum in Davos.
Colombia weighs Venezuelan gas imports as sanctions outlook shifts
Colombia’s state-owned energy company Ecopetrol is taking preliminary steps to assess the resumption of natural gas imports from Venezuela, anticipating potential easing of US sanctions
Egypt clears $5bn in oil partner arrears since June 2024, says PM
The Egyptian government has paid about $5bn in outstanding dues to foreign partners in its oil and gas sector since June 2024 under a previously announced repayment schedule
Russia and Iran to hold intergovernmental commission meeting in Tehran in February
Russia and Iran to hold 19th intergovernmental commission meeting in Tehran from February 16-18 as Moscow reaffirms commitment to strategic partnership despite regional challenges.
Malawi's cost of living crisis set to worsen as regulator hikes electricity tariff by 12%
Malawi’s energy regulator announced a 12% electricity tariff increase on January 20, a day after it hiked the fuel pump price by 40%.
German LNG terminal operator challenges subsidies to federal competing projects
Deutsche ReGas, Germany’s privately owned LNG terminal operator, has launched legal action against the European Commission over its approval of up to €4.96bn in state aid for government-backed LNG terminals.
EU has lost urgency on energy security, EDP chief says
Four years after the outbreak of the war in Ukraine, the EU has lost the sense of urgency needed to strengthen its energy security.
Colombia launches first long-term power auction requiring 8%-10% renewable supply
Colombia's Energy Ministry published draft regulations establishing the nation's inaugural long-term electricity contracting mechanism, mandating 15-year supply agreements commencing January 2030 for power distributors
Europe must view refining as critical infrastructure: VaroPreem CEO
He warned that that decades of closures and rising competition from newer plants abroad are reshaping the sector and driving consolidation.
Argentina's oil and gas sector faces positive 2026 outlook amid Vaca Muerta growth potential
Argentina's Vaca Muerta basin is positioned for exponential growth in 2026 as improved political stability and reduced country risk converge with technological breakthroughs.
Trinidad refinery restart may hinge on Venezuelan crude imports, industry body says
A potential restart of Trinidad and Tobago's mothballed Pointe-a-Pierre refinery could depend on renewed access to Venezuelan crude oil supplies, the Energy Chamber of Trinidad and Tobago has said.
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