TotalEnergies has tasked Vallourec with supplying tubular solutions for drilling 48 wells as part of its integrated gas project in Iraq, reinforcing their ongoing industrial cooperation on the Ratawi field.
Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.
Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.
The Algerian government plans a full upgrade of the SCADA system, managed by Sonelgaz, to improve control and supervision of the national electricity grid starting in 2026.
Excelerate Energy has signed a definitive agreement with Iraq’s Ministry of Electricity to develop a floating liquefied natural gas import terminal at Khor Al Zubair, with a projected investment of $450 mn.
Botaş lines up a series of liquefied natural gas (LNG, liquefied natural gas) contracts that narrow the space for Russian and Iranian flows, as domestic production and import capacity strengthen its bargaining position.
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Lukoil has started divesting its foreign assets following new US oil sanctions, a move that could reshape its overseas presence and impact supply in key European markets.
Iraq is negotiating a potential revision of its OPEC production limit while maintaining exports at around 3.6 million barrels per day despite significantly higher capacity.
Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
Algerian company Sonatrach has resumed exploration activities in Libya's Ghadames Basin, halted since 2014, as part of a strategic revival of the country's oil sector.
The Algerian national company has restarted a key liquefaction unit in Skikda, strengthening its export capacity amid massive investment in the gas sector.
Amman says it is ready to provide electricity and natural gas to Lebanon using its already operational infrastructure, pending the completion of regional procedures.
Jordan can export electricity if three conditions align: fuel availability for its power plants, measurable system surplus, and a functional transit framework via Syria to Lebanon with clear metering and settlement rules.
Sonatrach and Midad Energy North Africa signed a production-sharing hydrocarbon contract in the Illizi South perimeter, involving a total investment estimated at $5.4bn for exploration and exploitation of the site.
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.
Algeria plans to allocate $60 billion to energy projects by 2029, primarily targeting upstream oil and gas, while developing petrochemicals, renewables and unconventional resources.
ShaMaran and several international oil companies have reached a provisional deal with Baghdad and Erbil to resume crude exports from the Kurdistan region via pipeline, after months of suspension.
Baghdad has restarted crude shipments from Kurdistan via the pipeline to Turkey, following a two-year halt linked to legal and contractual disputes involving international firms operating in the region.
Eight oil companies and Iraqi and Kurdish authorities have reached a preliminary deal to restart crude exports via the Iraq-Turkey pipeline, halted since March 2023.
LNG regasification projects in Europe will increase capacity by 121 million tonnes/year by 2030. However, falling demand and utilization rates below 50% raise questions about the risk of overinvestment.
The illegal export of Kurdish oil to Iran and Turkey, accelerated by the closure of an official pipeline, is raising major economic and political concerns in Iraq.
A study reveals that Germany could import up to 100 TWh of green hydrogen per year via pipelines by 2035, meeting a significant proportion of its projected energy demand.
Oil prices are rising, boosted by tensions in the Middle East and robust Chinese demand, while the euro is strengthening after the first round of French parliamentary elections.
Igor Sechin, CEO of Rosneft, criticizes the increase in oil production capacity, saying it could destabilize the market despite OPEC+'s reduction efforts.
Sonatrach and ExxonMobil have signed a memorandum of understanding to develop hydrocarbon resources in southern Algeria, opening up new prospects for the energy sector.
An Iraqi official confirms Iraq's support for the extension of current OPEC+ quotas, despite the oil minister's initial statements on the refusal of further cuts.
OPEC+ oil production is falling, with Russia stepping up cuts despite attacks and compliance challenges that continue to cause tension within the group.
British energy services group John Wood has turned down an unsolicited takeover offer of £1.4 billion, or over €1.6 billion. The bid, deemed too low by the Board of Directors, came from Dar Al-Handasah Consultants.
