Latest Stories

Trump’s Venezuela move exposes China’s need for sanctioned oil, invites China and Russia to buy Venezuelan output

14 January 2026

Donald Trump’s intervention in Venezuela has unsettled Chinese crude buyers by highlighting Washington’s capacity to disrupt oil flows from countries under US sanctions, intensifying concerns in Beijing that Iran could be next.

Moscow says Russian firms will keep working Venezuela oil assets

14 January 2026

Russia said it will continue operating its oil projects in Venezuela and insisted the assets under development there remain Russian property

Bulgaria generates 34% of electricity from renewables in 2024, says Eurostat

14 January 2026

About 33.8% of Bulgaria’s electricity came from renewable energy sources in 2024, up from 29.7% in 2023.

Cofides finances Spanish firm's 13.67-MW Colombian solar project

14 January 2026

Spanish state-backed financial institution Cofides partnered with Grupo Negratín to construct, operate and maintain the 13.67-megawatt Alma 2 photovoltaic plant in Colombia, which commenced commercial operations in November 2025

TotalEnergies evaluates Venezuela return but demands 'clear framework' for investment

14 January 2026

TotalEnergies chief executive Patrick Pouyanné stated from Abu Dhabi the company is "evaluating" options to return to Venezuela, though a "clear framework for investment" is required first, El Periódico de la Energía and World Oil reported.

Istanbul-listed Zorlu sells 135-MW wind plant to Ronesans for $121mn

14 January 2026

Renewables company Ronesans Yenilenebilir Enerji, a unit of Turkey's Ronesans Holding, has acquired the 135-MW Gokcedag wind plant from Zorlu Enerji (ZOREN), Ronesans Holding said on January 8.

Guyana oil exports hold steady despite lower crude prices

14 January 2026

Shipping data reviewed by OilNOW show that 27 cargoes of roughly one million barrels each left Guyana in December 2025, a volume broadly unchanged from November, confirming that offshore output remained steady even as market conditions deteriorated

Saudi Electricity Co. plans dollar-denominated sukuk issuance

14 January 2026

Saudi Electricity Co. plans to issue dollar-denominated unsecured priority sukuk with timing and size to be determined, appointing 17 banks as issuance managers for the offering.

Global warming accelerates with 2025 third hottest year on record

14 January 2026

The year 2025 was the third hottest on record, trailing only 2023 and 2024, according to data released on Wednesday by Berkeley Earth, the EU’s Copernicus Climate Change Service, and the UK Met Office.

Zambian utility Zesco signs 20-year PPA with Canadian firm Stardust for a proposed 30MW solar project

14 January 2026

Stardust Solar Energy Inc.has secured a 20-year power purchase agreement (PPA) in Zambia to support a planned 30-MW) solar project, which is set to reach commercial operation later this year.

Touchstone bets on Trinidad onshore revival with Guyana-style geology

14 January 2026

Touchstone Exploration is positioning itself to revitalise Trinidad and Tobago’s onshore hydrocarbons sector by advancing a multi-prospect drilling strategy that could reshape perceptions of the country’s geological potential.

EnerMech secures pre-commissioning work for Guyana offshore oil development

14 January 2026

Scottish energy services firm EnerMech has won a contract to provide pre-commissioning work for the Whiptail offshore oil project in Guyana, awarded through Italian contractor Saipem.

Banks in talks to lend $1bn for Argentine gas pipeline project

14 January 2026

A group of international banks led by JPMorgan Chase & Co and Citigroup Inc is in discussions to provide around $1bn in loans for a natural gas pipeline in Argentina.

South Africa leads continent’s renewable energy transition, says Forvis Mazars

14 January 2026

South Africa offers major investment opportunities across wind, solar, biofuels and green hydrogen, according to Forvis Mazars, supported by strong policy frameworks, private-sector participation and rising clean-power generation.

COMMENT: Instability in Iran bigger threat to global oil markets than Venezuela

14 January 2026

The mass demonstrations rocking Iran presents a far more serious risk to global oil markets than the US decapitation of Venezuela, according to note by Kieran Tompkins, Senior Climate and Commodities Economist at Capital Economics.

Argentine to boost crude exports with Vaca Muerta Oil Sur project date confirmed

14 January 2026

Argentina is positioned to begin crude oil exports from Río Negro province by December 2026 through the $3bn Vaca Muerta Oil Sur pipeline.

Iraq advances plans for West Qurna gas-fired power plant

14 January 2026

Iraq is planning to construct a major gas-fired power plant in the southern province of Basra, as the government steps up efforts to boost national generation capacity and ease chronic electricity bottlenecks.

Brazil’s Petrobras’ Tupi field returns to 1mn barrels

14 January 2026

The Tupi/Iracema field in Brazil’s Santos Basin reached output of 1mn barrels per day, returning to a level last recorded in 2019, according to Petrobras.

Venezuela moves to overturn Citgo sale order

14 January 2026

Venezuela, its state oil company PDVSA and related entities have asked the United States Court of Appeals for the Third Circuit to set aside a Delaware judge’s order approving the sale of PDV Holding.

Canada could offer oil expertise to US on Venezuela

14 January 2026

A Canadian oil industry executive has proposed that Canada use its heavy oil expertise to assist the United States in restoring Venezuela’s oil sector, saying Ottawa is well placed to support recovery efforts.

Gambian president appoints Cany Jobe to lead petroleum regulator

14 January 2026

Cany Jobe, an experienced oil and gas industry executive, has been appointed by Gambian President Adama Barrow as the new Director General of the Petroleum Commission of The Gambia.