Julie Wasolua

KazMunayGas has resumed oil shipments to Turkey through the Baku-Tbilisi-Ceyhan pipeline, following a stoppage due to a contamination issue resolved at the Aktau terminal.
The US investment bank is restructuring its operations by merging its energy and utilities divisions to form a global power and energy unit.

Nigeria ends state of emergency in strategic oil-rich Rivers State

After six months of suspended local institutions, Nigeria's federal government restores civilian power in oil-rich Rivers State as political tensions appear to ease.
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Backed by flagship projects linked to EACOP and the Tilenga and Kingfisher fields, Uganda aims to lead Africa in new oil storage additions, with a projected impact on its revenues and financial flows by 2030.
A study reveals that independent oil and gas producers supported over 3.1 million jobs and generated $129bn in taxes, representing 87% of the US upstream sector’s economic contributions.

Gibson Energy renews share buyback programme for 12 months

Gibson Energy has received approval from the Toronto Stock Exchange to extend its normal course issuer bid, covering up to 7.5% of the public float over a one-year period starting 18 September.
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Petróleos Mexicanos received offers surpassing the $9.9bn cap set for its debt repurchase programme, resulting in oversubscription during the initial phase of the operation.
GATE Energy has been appointed to deliver full commissioning services for bp’s Kaskida floating production unit, developed in partnership with Seatrium in the deepwater Gulf of Mexico.

Orazul Energy Perú buys back 68% of its 2027 bonds in cash tender offer

The Peruvian power producer completed a cash tender offer for its 5.625% senior notes, reaching a participation rate of 68.39% at the close of the operation.
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A Syrian vessel carrying 640,000 barrels of crude has docked in Italy, marking the country’s first oil shipment since the civil war began in 2011, amid partial easing of US sanctions.
Canadian crude shipments from the Pacific Coast reached 13.7 million barrels in August, driven by a notable increase in deliveries to China and a drop in flows to the US Gulf Coast.

Oil and gas to remain dominant in global energy mix through 2050

Faced with rising global electricity demand, energy sector leaders are backing an "all-of-the-above" strategy, with oil and gas still expected to supply 50% of global needs by 2050.
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Chilean power producer Colbún has completed its cash tender offer for 3.950% notes due 2027, repurchasing more than half of the outstanding amount for a total of $266mn.
London has expanded its sanctions against Russia by blacklisting 70 new tankers, striking at the core of Moscow's energy exports and budget revenues.

Iraq and Oman in talks to build new oil pipeline to secure exports to Asia

Iraq is negotiating with Oman to build a pipeline linking Basrah to Omani shores to reduce its dependence on the Strait of Hormuz and stabilise crude exports to Asia.
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French steel tube manufacturer Vallourec has secured a strategic agreement with Petrobras, covering complete offshore well solutions from 2026 to 2029.
Increased output from Opec+ and non-member producers is expected to create a global oil surplus as early as 2025, putting pressure on crude prices, according to the International Energy Agency.

Petrobras takes 27.5% stake in Block 4 offshore São Tomé with Shell and Galp

The Brazilian company expands its African footprint with a new offshore exploration stake, partnering with Shell and Galp to develop São Tomé and Príncipe’s Block 4.
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Iberdrola strengthens its presence in Brazil by acquiring PREVI’s stake in Neoenergia for BRL11.95bn, raising its ownership to 84%.
A drone attack on a Bachneft oil facility in Ufa sparked a fire with no casualties, temporarily disrupting activity at one of Russia’s largest refineries.
Santander Alternative Investments has invested in Corinex to accelerate the deployment of its smart grid solutions, aiming to address growing utility needs in Europe and the Americas.
Imperial Petroleum expanded its fleet to 19 vessels in the second quarter of 2025, while reporting a decline in revenue due to lower rates in the maritime oil market.

Industrial control transformer market to reach $1.48bn by 2030

Driven by grid modernisation and industrial automation, the global control transformer market could reach $1.48bn in 2030, with projections indicating steady growth in energy-intensive sectors.
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A report from energy group Edison highlights structural barriers slowing renewable deployment in Italy, threatening its ability to meet 2030 decarbonisation targets.
Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.

Greek shipowners cut Russian crude links under new compliance rules

Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.
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A key station on the Stalnoy Kon pipeline, essential for transporting petroleum products between Belarus and Russia, was targeted in a drone strike carried out by Ukrainian forces in Bryansk Oblast.
SOMO is negotiating with ExxonMobil to secure storage and refining access in Singapore, aiming to strengthen Iraq’s position in expanding Asian markets.

European Union redefines import rules for UK oil and gas

The European Union’s new import standard forces the United Kingdom to make major adjustments to its oil and gas exports, impacting competitiveness and trade flows between the two markets.
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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.