Julie Wasolua

The United Kingdom is set to replace the Energy Profits Levy with a new fiscal mechanism, caught between fairness and simplicity, as the British Continental Shelf continues to decline.
The Italian government is demanding assurances on fuel supply security before approving the sale of Italiana Petroli to Azerbaijan's state-owned energy group SOCAR, as negotiations continue.

Dangote refinery forced to suspend gasoline production for several weeks

The Dangote complex has halted its main gasoline unit for an estimated two to three months, disrupting its initial exports to the United States.
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Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.
CNOOC has launched production at the Wenchang 16-2 field in the South China Sea, supported by 15 development wells and targeting a plateau of 11,200 barrels of oil equivalent per day by 2027.

Viridien and TGS launch 5,300 km² 3D seismic survey offshore Brazil

Viridien and TGS have started a new 3D multi-client seismic survey in Brazil’s Barreirinhas Basin, an offshore zone still unexplored but viewed as strategic for oil exploration.
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Taiwan accuses China of illegally installing twelve oil structures in the South China Sea, fuelling tensions over disputed territorial sovereignty.
Chevron has reached a preliminary agreement with Angola’s national hydrocarbons agency to explore block 33/24, located in deep waters near already productive zones.

Indian imports of Russian oil rise 15% in first half of 2025

India increased its purchases of Russian oil and petroleum products by 15% over six months, despite new US trade sanctions targeting these transactions.
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Indonesia will finalise a free trade agreement with the Eurasian Economic Union by year-end, paving the way for expanded energy projects with Russia, including refining and natural gas.
ADNOC Group CEO Dr Sultan Al Jaber has been named 2025 CEO of the Year by his global chemical industry peers, recognising his role in the company’s industrial expansion and international investments.

Diamondback sells its stake in EPIC Crude for $500 million

Diamondback Energy announced the sale of its 27.5% stake in EPIC Crude Holdings to Plains All American Pipeline for $500 million in cash, with a potential deferred payment of $96 million.
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Reconnaissance Energy Africa continues drilling its Kavango West 1X exploration well with plans to enter the Otavi reservoir in October and reach total depth by the end of November.
TotalEnergies has signed a production sharing agreement with South Atlantic Petroleum for two offshore exploration permits in Nigeria, covering a 2,000 square kilometre area with significant geological potential.

Dangote refinery delivers first gasoline cargo to the United States

Nigeria’s Dangote refinery shipped 300,000 barrels of gasoline to the United States in late August, opening a new commercial route for its fuel exports.
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Swedish renewable energy developer OX2 has appointed Matthias Taft as its new chief executive officer, succeeding Paul Stormoen, who led the company since 2011 and will now join the board of directors.
Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.

BW Offshore selected by Equinor for Bay du Nord FPSO development

BW Offshore has been chosen by Equinor to supply the FPSO unit for Canada’s Bay du Nord project, marking a key milestone in the advancement of this deepwater oil development.
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Heirs Energies doubled production at the OML 17 block in one hundred days and aims to reach 100,000 barrels per day, reinforcing its investment strategy in Nigeria’s mature oil assets.
Driven by distributed solar and offshore wind, renewable energy investments rose 10% year-on-year despite falling financing for large-scale projects.
Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.
Cenovus Energy announces the acquisition of MEG Energy through a mixed transaction aimed at strengthening its position in oil sands while optimizing cost structure and integrated production.

Vantage Drilling extends conditional agreement for the Platinum Explorer rig

Vantage Drilling International Ltd. extends the validity of its conditional letter of award until August 29, without changes to the initial terms.
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Libya is preparing to host an energy forum in partnership with American companies to boost investment in its oil and gas sectors.
Washington increases pressure on Iran’s oil sector by sanctioning a Greek shipper and its affiliates, accused of facilitating crude exports to Asia despite existing embargoes.

Air Liquide acquires South Korean DIG Airgas for €2.85 billion

French group Air Liquide strengthens its presence in Asia with the acquisition of South Korean DIG Airgas, a key player in industrial gases, in a strategic €2.85 billion deal.
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The Bureau of Ocean Energy Management formalizes a strategic environmental review, setting the framework for 30 oil sales in the Gulf of America by 2040, in line with a new federal law and current executive directives.
The Ministry of Economy has asked EDF to reconsider the majority sale agreement of its technology subsidiary Exaion to the American group Mara, amid concerns related to technological sovereignty.

Hungary Seeks U.S. Support After New Disruptions on the Druzhba Pipeline

Amid repeated disruptions on the Druzhba pipeline, attributed to Ukrainian strikes, Hungary has requested U.S. support to secure its oil supply.
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Norwegian producer Aker BP raises its oil potential forecast for the Omega Alfa well, part of the Yggdrasil project, with estimated resources reaching up to 134 million barrels of oil equivalent.
The gradual restart of BP’s Whiting refinery following severe flooding is driving price and logistics adjustments across several Midwestern U.S. states.

Moretti expected to chair Petrobras board with ministerial backing

Bruno Moretti, current special secretary to the presidency, is in pole position to lead Petrobras’ board of directors after Pietro Mendes’ resignation for a regulatory role.
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Next Bridge Hydrocarbons completes a $6 million private debt raise to support its involvement in the Panther project while restructuring part of its existing debt.
IBM and NASA unveil an open-source model trained on high-resolution solar data to improve forecasting of solar phenomena that disrupt terrestrial and space-based technological infrastructures.

LPSC approves 3 new power plants to support Meta’s data center

The Louisiana regulatory commission authorizes Entergy to launch major energy projects tied to Meta’s upcoming data center, with anticipated impacts across the regional power grid.
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Sinopec Shanghai Petrochemical reported a net loss in the first half of 2025, impacted by reduced demand for fuels and chemical products, as well as declining sales volumes.
Zener International Holding takes over Petrogal’s assets in Guinea-Bissau, backed by a $24 million structured financing deal arranged with support from Ecobank and the West African Development Bank.

Pietro Mendes resigns from Petrobras to lead Brazilian oil agency ANP

Petrobras board chairman Pietro Mendes resigned after his appointment to lead the National Petroleum Agency, confirmed by the Senate.
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Bahrain has signed an energy concession agreement with EOG Resources and Bapco Energies, reinforcing its national strategy and opening the way to new opportunities in oil and gas exploration.
Westbridge Renewable Energy will implement a share consolidation on August 22, reducing the number of outstanding shares by four to optimize its financial market strategy.