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Brazil’s Lula pitches Petrobras-Pemex Gulf of Mexico tie-up and vows to buy back Bahia refinery
Lula da Silva said has proposed a partnership between state-owned oil company Petrobras and Mexico's state-owned Pemex to explore oil in the Gulf of Mexico, while also pledging to recover a major refinery in Bahia state sold under his predecessor.
Norway’s Equinor starts drilling at $9.0bn Raia gas project off Brazil
Equinor has begun drilling at its Raia natural gas project in the pre-salt Campos Basin off Brazil, marking the start of a six-well campaign at what the company describes as its largest project under execution and its deepest water depth operation.
Brazil's Prio on track for 40,000 bpd at Wahoo field by end of April
Prio said its first producing well at the Wahoo field in the Campos Basin had reached stabilised output of 12,000 barrels of oil per day (bpd), with the remaining wells on track to bring total field production to 40,000 bpd by the end of April.
Turkish-owned tanker hit by drone in Black Sea attack
The Altura, a Turkish-owned crude oil tanker, was struck by a drone 15 nautical miles (28 kilometres) off Istanbul’s Bosporus strait while carrying crude oil picked up in Russa, NTV reported on March 26.
Brazil offshore group beats outlook
Constellation Oil Services reported adjusted EBITDA of $233mn for 2025, 37% above its guidance, supported by high fleet use and contract terms.
TotalEnergies to redirect capital from US offshore wind to oil and gas
TotalEnergies has struck a deal with the Trump administration to abandon its US offshore wind leases and redirect recovered lease fees to fossil fuel projects.
Italy, Spain race to secure Algerian gas amid Middle East crisis
Italian PM Giorgia Meloni is seeking to boost gas flows from Algeria, as Italy, along with Spain, competes to secure alternative energy supplies from North Africa, following disruptions in Middle Eastern exports
Extreme heat will kill more people in poor countries than the rich
Poorer countries are projected to suffer sharply higher mortality from the increasing frequency of extreme heatwaves than wealthier nations, with death rates potentially rising by as much as tenfold.
South Africa court orders Eskom to disclose details of coal, transport, diesel contracts
South Africa’s top court has ordered state power utility Eskom to disclose key procurement contracts, potentially renewing scrutiny over corruption linked to the state capture era.
Continental chief urges Argentina to avoid investment barriers as Vaca Muerta grows
The chief executive of Continental Resources said the company is strengthening its presence in Argentina’s Vaca Muerta shale formation, highlighting its global potential and calling on policymakers to avoid measures that could deter investment.
Kyivstar targets new solar assets in second energy investment push
Ukraine’s largest mobile operator Kyivstar is seeking to expand its presence in renewable energy by acquiring six solar power plants in the western Lviv region, marking its second major investment in the sector.
Ukraine secures fresh energy backing as EBRD builds 1 GW renewables pipeline
Ukraine is ramping up efforts to strengthen its war-hit energy sector, with the EBRD assembling a renewable energy investment pipeline exceeding 1 gigawatt and approving fresh funding to help the capital prepare for winter.
Argentina holds fuel taxes steady despite oil price surge
Argentina’s government has ruled out cutting fuel taxes despite a roughly 15% increase in petrol and diesel prices in March, prioritising fiscal surplus targets while considering delaying planned tax hikes, according to officials.
Nigeria signs offshore seismic deal to revive frontier exploration
The NUPRC has signed a three-year agreement with SeaSeis Geophysical Limited and TGS to acquire new offshore seismic and gravity data, in a move aimed at reducing exploration risk and attracting investment
Chile adjusts fuel price mechanism as global oil surge drives sharp increases
Chile is facing a steep rise in fuel prices as the government of President José Antonio Kast moves to recalibrate its stabilisation framework amid mounting global energy pressures.
Seoul to deepen fuel tax cuts
South Korea will more than double its temporary fuel tax cuts in an effort to ease pressure on households and industry as the conflict in the Middle East continues to disrupt energy markets.
Engie powers up $64mn battery project in Chile to boost solar reliability
Engie has advanced its renewable energy strategy in Chile by energising a large-scale battery storage system designed to stabilise solar power output in the Atacama Desert.
China becoming the first Electrostate
China is well on the way to becoming the world's first “Electrostate”. The nature of the global economy is changing. The carbon-based economy that has dominated since the industrial revolution giving away to a silicon-based economy.
Guyana on track to largest oil-producing vessel in its history
ExxonMobil Guyana has submitted a proposal to increase production at its Yellowtail offshore development, establishing the project as Guyana's largest producing asset to date.
Taiwan’s Hai Long sees first locally assembled turbine installation
The Hai Long Offshore Wind Project has installed the first wind turbine at the Hai Long 3 wind farm, helping in Taiwan’s efforts to localise its offshore wind supply chain.
Dutch gas reserves slump to lowest level since 2018
The Netherlands’ gas in storage has dropped to its lowest level in eight years, as Europe continues withdrawing stockpiles despite warmer weather.
Vietnam sets out twin renewable hubs under revised transition plan
Under the updated framework, renewable energy is expected to account for about 47% of total installed power capacity by the end of the decade.
Nigeria misses full $100 oil price windfall as crude-backed deals limit gains, says FNCCI head
Nigeria may not fully benefit from near-$100 oil prices as crude-backed loan agreements, including the $3.3bn Project Gazelle, lock in large volumes of output at lower historical prices, limiting fiscal gains while inflation pressures rise.
Tanzania energy minister holds talks with IFC towards implementing National Energy Compact
Tanzania’s Minister for Energy, Deogratius Ndejembi, has held talks with International Finance Corporation East Africa Regional Director Mary Porter in Dar es Salaam on advancing the country’s National Energy Compact, known as Mission 300
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