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April 13, 2021

Nigeria auctions 50 oil blocks in its 2025 licensing round
The Nigerian Upstream Petroleum Regulatory Commission opens bidding for 50 exploration blocks across strategic zones to revitalise upstream investment.
Nigeria auctions 50 oil blocks in its 2025 licensing round
La Nigerian Upstream Petroleum Regulatory Commission ouvre la compétition pour 50 blocs d’exploration, répartis sur plusieurs zones stratégiques, afin de relancer les investissements dans l’amont pétrolier.

Serbia forced to shut down its only refinery after US sanctions

Serbia's only refinery, operated by NIS, has suspended production due to a shortage of crude oil, a direct consequence of US sanctions imposed on its majority Russian shareholder.
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Axess Group signs strategic agreement with ARO Drilling in Saudi Arabia
Axess Group has signed a memorandum of understanding with ARO Drilling to deliver asset integrity management services across its fleet, integrating digital technologies to optimise operations.
Oil prices rise amid tensions between Washington and Caracas
Crude prices increased, driven by rising tensions between the United States and Venezuela and drone attacks targeting Russian oil infrastructure in the Black Sea.

Tullow Oil cuts board size and seeks to refinance $1.8 bn debt

Amid persistent financial losses, Tullow Oil restructures its governance and accelerates efforts to reduce over $1.8 billion in debt while refocusing operations on Ghana.
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Eskom forecasts $937 million profit for 2026 fiscal year
South African state utility Eskom expects a second consecutive year of profit, supported by tariff increases, lower debt levels and improved operations.
Baghdad invites US companies to replace Lukoil on West Qurna 2
The Iraqi government is inviting US oil companies to bid for control of the giant West Qurna 2 field, previously operated by Russian group Lukoil, now under US sanctions.

Two tankers targeted in the Black Sea, Ankara warns over maritime security

Two tankers under the Gambian flag were attacked in the Black Sea near Turkish shores, prompting a firm response from President Recep Tayyip Erdogan on growing risks to regional energy transport.
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Harbour Energy to cut 100 offshore jobs over sustained fiscal conflict
The British producer continues to downsize its North Sea operations, citing an uncompetitive tax regime and a strategic shift towards jurisdictions offering greater regulatory stability.
Dangote claims 100% of Nigerian petrol supply and demands priority access to crude
Dangote Refinery says it can fully meet Nigeria’s petrol demand from December, while requesting regulatory, fiscal and logistical support to ensure delivery.

Equans launches new entity for industries with complex processes

Equans Process Solutions brings together its expertise to support highly technical industrial sectors with an integrated offer covering the entire project lifecycle in France and abroad.
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BP restarts Olympic pipeline after leak, increasing pressure on safety
BP reactivated the Olympic pipeline, critical to fuel supply in the U.S. Northwest, after a leak that led to a complete shutdown and emergency declarations in Oregon and Washington state.
Zenith Energy shifts focus between Tunisian arbitration and Italian solar assets
Zenith Energy centres its strategy on a $572.65mn ICSID claim against Tunisia, an Italian solar portfolio and uranium permits, amid financial strain and reliance on capital markets.

Kamoa-Kakula mine in DRC targets 347 MW in electricity demand by 2028

Ivanhoe Mines expects a 67% increase in electricity consumption at its copper mine in DRC, supported by new hydroelectric, solar and imported supply sources.
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Washington increases military pressure on Caracas as Maduro alerts Opec
President Donald Trump confirmed direct contact with Nicolas Maduro as tensions escalate, with Caracas denouncing a planned US operation targeting its oil resources.
Zenith Energy accuses Tunisia of unauthorised sale of 3,987 barrels of oil
Zenith Energy claims Tunisian authorities carried out the unauthorised sale of stored crude oil, escalating a longstanding commercial dispute over its Robbana and El Bibane concessions.

TotalEnergies sells 40% of two Nigerian licences to Chevron in strategic deal

TotalEnergies restructures its stake in offshore licences PPL 2000 and PPL 2001 by bringing in Chevron at 40%, while retaining operatorship, as part of a broader refocus of its deepwater portfolio in Nigeria.
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Aker Solutions secures NOK2.5bn to NOK4bn offshore M&M contract with ConocoPhillips
Aker Solutions has signed a six-year frame agreement with ConocoPhillips for maintenance and modification services on the Eldfisk and Ekofisk offshore fields, with an option to extend for another six years.
Q ENERGY France and AMRF sign agreement to accelerate rural electrification
Q ENERGY France and the Association of Rural Mayors of France have entered a strategic partnership to develop local electrification and support France's energy sovereignty through rural territories.
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Kazakhstan launches tenders for 3 GW of renewable capacity by 2026
Perenco supplies gas to Moundou and reignites debate over energy investments in Chad
Europe enacts the end of Russian gas and enforces a total reshaping of its gas market
Serbia forced to shut down its only refinery after US sanctions
The European Union approves 235 energy interconnection projects through 2040
Dangote selects Honeywell to expand refinery capacity to 1.4 million barrels/day
Nigeria’s Dangote refinery selects US-based Honeywell to supply technology that will double its crude processing capacity and expand its petrochemical output.
Baghdad maintains oil output by isolating sanctioned Russian assets
Iraq secures production by bypassing US sanctions through local payments, energy-for-energy swaps, and targeted suspension of financial flows to Lukoil to protect West Qurna-2 exports.

NU E Power finalises acquisition of 500 MW in assets and appoints new CEO

NU E Power Corp. completed the purchase of 500 MW in energy assets from ACT Mid Market Ltd. and appointed Broderick Gunning as Chief Executive Officer, marking a new strategic phase for the company.
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BP partially restarts Olympic Pipeline but leaves 60% of capacity offline
Restarting Olympic Pipeline’s 16-inch line does not restore full supply to Oregon and Seattle-Tacoma airport, both still exposed to logistical risks and regional price tensions.
India’s Russian oil imports to drop sharply from December
Faced with tightened sanctions from the United States and European Union, Indian refiners are drastically reducing their purchases of Russian crude from December, according to industry sources.

BB Energy restructures Houston operations and cuts oil trading staff

Commodities trader BB Energy has cut over a dozen jobs in Houston and will shift some administrative roles to Europe as part of a strategic reorganisation.
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Serbia’s Pancevo refinery faces shutdown as US sanctions cut crude supply
Serbia’s only refinery, operated by NIS, may be forced to halt production this week, weakened by US sanctions targeting its Russian shareholders.
Ferrari signs ten-year contract with Shell for green electricity supply
Ferrari has entered into an agreement with Shell for the supply of 650 GWh of renewable electricity until 2034, covering nearly half of the energy needs of its Maranello site.

Iberdrola reshapes its portfolio to become a leader in transatlantic regulated networks

By divesting assets in Mexico, France and Eastern Europe, Iberdrola reduces exposure to non-strategic markets to strengthen its positions in regulated networks in the United Kingdom, the United States and Brazil, following a targeted capital reallocation strategy.
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Iberdrola launches a public offer to acquire 100% of Neoenergia in Brazil
Iberdrola offers to buy the remaining 16.2% of Neoenergia for 32.5 BRL per share, valuing the transaction at approximately €1.03bn to simplify its Brazilian subsidiary’s structure.
Paratus receives $38mn payment in Mexico through government fund
Paratus Energy Services collected $38mn via its subsidiary Fontis Energy for overdue invoices in Mexico, supported by a public fund aimed at stabilising supplier payments.

CrossBoundary Energy raises $200mn with Standard Bank and MIGA guarantee for industrial projects in Africa

CrossBoundary Energy secures a $200mn multi-project debt facility, backed by Standard Bank and a $495mn MIGA guarantee, to supply solar and storage solutions for industrial and mining clients across up to 20 African countries.
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Cameroon: Glencore records a 31% drop in oil volumes
Glencore's attributable production in Cameroon dropped by 31% over nine months, adding pressure on public revenues as Yaoundé revises its oil and budget forecasts amid field maturity and targeted investment shifts.
Mercuria raises $2.3bn to strengthen its energy presence in Asia
Mercuria finalises an Asian syndicated loan refinancing with a 35% increase from 2024, consolidating its strategic position in the region.

Contrarian strategies outperform hedge fund tracking on Brent market

The profitability of speculative positioning strategies on Brent is declining, while contrarian approaches targeting extreme sentiment levels are proving more effective, marking a significant regime shift in oil trading.
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Major US companies increase their presence at COP30 despite Washington
Sixty Fortune 100 companies are attending COP30, illustrating a growing disconnect between federal US policy and corporate strategies facing international climate regulations.
Tanmiah launches geothermal poultry site and signs three strategic energy agreements
Tanmiah Food Company signed three memorandums of understanding to reduce its emissions and launched the region’s first poultry facility cooled by geothermal energy, in alignment with Saudi Arabia’s industrial ambitions.

Subsea7 reports 27% increase in adjusted EBITDA in third quarter

Subsea7 posted higher operating profit and a record order backlog, supported by long-term contracts in the Subsea and Renewables segments.
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Adnoc strengthens ties with China through new energy deals in Shanghai
Adnoc signed multiple agreements with Chinese groups during CIIE, expanding commercial exchange and industrial cooperation with Beijing in oil, gas and petrochemical materials.
Cenovus raises $2.6bn in bonds and announces debt buyback
Cenovus Energy completed a $2.6bn cross-border bond issuance and plans to repurchase over $1.7bn in maturing notes as part of active debt management.