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Iraq demands foreign companies in Kurdistan hand over their crude oil
Baghdad states that all international companies operating in Kurdistan’s oil fields must transfer their production to state marketer SOMO, under the agreement signed with Erbil in September.
Israel seals a €30 billion gas contract with Egypt
An agreement announced on December 17, 2025 provides for twenty years of deliveries through 2040. The package amounts to 112 billion new Israeli shekels (Israeli shekels) (NIS), with flows intended to support Egyptian gas supply and Israeli public revenues.

BW Ideol secures up to €74mn for concrete floater plant in Fos-sur-Mer

The European Commission has selected BW Ideol’s Fos3F project for a grant of up to €74mn, targeting the construction of a concrete floater plant for floating wind turbines at the industrial site of Fos-sur-Mer.
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Venture Global signs 20-year deal to supply LNG to the Balkans via Greece
Venture Global has signed a liquefied natural gas sales agreement with Atlantic-See LNG Trade S.A., a newly formed Greek joint venture, to supply 0.5 million tonnes annually starting in 2030, reinforcing regional energy security.
ExxonMobil takes 60% stake in gas exploration permit in Greece’s Ionian Sea
ExxonMobil joins a Greek energy consortium to explore a gas field in the Ionian Sea, strengthening its presence in the Eastern Mediterranean after Chevron, amid post-Russian energy diversification efforts.

HiTHIUM partners with El-Mor to deploy 1.5GWh of long-duration storage in Israel

Chinese supplier HiTHIUM enters the Israeli market with a strategic agreement to deploy 1.5GWh of long-duration energy storage alongside El-Mor Renewable Energy.
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IAEA warns of restricted access to Iranian nuclear site since June strikes
The International Atomic Energy Agency denounces the ongoing inspection blockage at several damaged Iranian nuclear facilities, where stocks of highly enriched uranium remain.
Expro deploys its ELITE Composition™ service on offshore well in Cyprus
Expro delivered its new on-site fluid analysis service for a major oil operator in Cyprus, cutting turnaround times from several months to just hours during an exploration drilling campaign in the Eastern Mediterranean.

The $400 Million Israel-Cyprus Gas Pipeline Awaits Government Approvals

A $400 million natural gas pipeline connecting Israel to Cyprus, with a capacity of 1 billion cubic meters per year, is awaiting government approvals, according to Energean’s CEO.
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Le TAP augmente ses nominations de gaz aux interconnexions européennes clés
Les nominations du Trans Adriatic Pipeline progressent à Melendugno, Nea Mesimvria et Komotini, signalant davantage d’offre pipeline et une flexibilité accrue pour les expéditeurs face aux arbitrages avec le gaz naturel liquéfié.
The UN validates an Article 6.4 methodology for landfill methane
The Paris Agreement Crediting Mechanism formalizes a landfill-methane methodology, imposes an investment-based additionality test, and governs issuance of traceable units via a central registry, with host-country authorizations and corresponding adjustments required.

Turkey locks in 19 Bcma of LNG, Moscow and Tehran under pressure

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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Baghdad in talks over OPEC quota despite exports at 3.6 million barrels
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.
Chevron and Helleniq Energy secure four offshore exploration permits in Greece
The Greek government has selected a consortium led by Chevron to explore hydrocarbons in four maritime zones in the Ionian Sea and south of Crete, with geophysical surveys scheduled to begin in 2026.

Baker Hughes reports $8.2bn in orders in Q3 despite net income decline

Baker Hughes recorded a 23% increase in orders in Q3 2025, driven by its gas segment, while net income fell 20% year-on-year to $609mn.
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Shanghai Electric signs 342 MW deal with Econergy in Romania
Shanghai Electric has signed phase II of the Parau photovoltaic project with Econergy, expanding its Romanian solar portfolio to 550 MW.
The United States Raises Tariffs Against Colombia on Energy and Metals
The United States announces a tariff increase beyond the 10% base rate targeting several Colombian products. Bogotá has recalled its ambassador. The detailed list of tariff lines has not yet been published, while Colombia’s ban on coal exports to Israel remains in effect.

Kuwait signs $489mn deal with Kuzu for wastewater treatment plant

Kuwait’s Ministry of Public Works has signed an agreement with Turkish company Kuzu to build a wastewater treatment plant for the upcoming Al Mutlaa city in the north of the country.
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China cuts its oil surplus to 570,000 barrels per day and prepares a cycle of strategic purchases
The decline in imports and the rise in refining in September reduced China’s crude surplus to its lowest in eight months, opening the way for tactical buying as Brent slips below 61 dollars.
Jordan: exporting its electricity via Syria, operational levers and constraints
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.
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Pivot Energy secures $225mn to develop 60 new community solar projects
Davidson Kempner and Fortress take control of Bourbon to relaunch growth
Brussels investigates €30bn public loan for two reactors in Czechia
Niger signs strategic deal with Russia to revive uranium mining
Equinor contests €60mn fine imposed for maintenance failure
METLEN Energy & Metals enters London Stock Exchange after successful share offer
METLEN Energy & Metals makes its debut on the London Stock Exchange after a share exchange offer accepted by more than 90% of shareholders, opening a new phase of international growth.
Saudi Aramco and Sonatrach cut LPG prices by 5 to 10% for August
Saudi Aramco and Sonatrach have announced a reduction in their official selling prices for liquefied petroleum gas in August, reflecting changes in global supply and weaker demand on international markets.

Iran and Iraq struggle to finalize gas agreement despite advanced negotiations

Discussions between Tehran and Baghdad on export volumes and an $11 billion debt reveal the complexities of energy dependence under U.S. sanctions.
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OPEC+ increases production by 547,000 barrels as non-OPEC supply explodes
The eight voluntary OPEC+ members accelerate their market return in September despite weakened global demand and record production from the Americas.
Turkey starts Azerbaijani natural gas deliveries to war-torn Syria
Turkey has begun supplying natural gas from Azerbaijan to Syria, marking a key step in restoring Syria’s energy infrastructure heavily damaged by years of conflict.

Shell launches a share buyback programme after a 23% drop in net profit

Shell’s half-year net profit falls to USD8.38bn as the group announces a new share buyback programme, amid lower hydrocarbon prices and ongoing cost reductions.
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Carbon Ridge installs first centrifugal carbon capture unit on board a Scorpio Tankers vessel
Carbon Ridge reaches a major milestone by deploying the first centrifugal carbon capture technology on a Scorpio Tankers oil tanker, alongside a new funding round exceeding $20mn.
Eco Wave Power installs its first wave energy floaters at the Port of Los Angeles
Eco Wave Power has completed the installation of floaters for its pilot project in Los Angeles, marking a strategic milestone in the validation and commercialisation of its wave energy technology in the US market.

OIES maintains its Brent price forecast and adjusts oil market surplus projections

The Organization of the Petroleum Exporting Countries (OIES) confirmed its Brent price forecast at 69 USD/b in 2025 and 67 USD/b in 2026, while adjusting its 2025 surplus forecast to 280,000 barrels per day.
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Europe restricts diesel made from Russian crude, prices surge
The European ban on fuels refined from Russian crude is reshaping import flows, adding pressure to already low inventories and triggering an immediate diesel price rally.
Asia-Pacific LNG physical market jumps 86% year over year despite geopolitical tensions
LNG trading volumes in the Asia-Pacific region reached 1.24 million tonnes, driven by summer demand and rising participation, despite a 21% monthly decline linked to geopolitical uncertainty.

COP30 under pressure: Bonn negotiations reveal persistent divides

Technical discussions in Bonn exposed deep financial rifts between developed and developing countries, raising questions about the COP process’s effectiveness months ahead of the Belém summit.
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Bahrain signs civil nuclear agreement with the United States and announces $17bn in public investments
Bahrain has concluded a civil nuclear agreement with the United States and formalised a commitment of $17bn in public investments in the US market, further strengthening bilateral cooperation.
OPEC Cuts Forecasts but Anticipates Rising Oil Demand
OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.

European Union struggles to agree on new Russian oil price cap

Talks between European Union member states stall on the adoption of the eighteenth sanctions package targeting Russian oil, due to ongoing disagreements over the proposed price ceiling.
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Drone attacks disrupt five oil fields in Iraqi Kurdistan within one week
Three new oil fields in Iraqi Kurdistan have been targeted by explosive drones, bringing the number of affected sites in this strategic region to five in one week, according to local authorities.
Greece’s wind capacity surpasses 5.5 GW as growth rate doubles
Greece’s wind sector reaches a new milestone with 5.5 GW installed, driven by 37 new turbines and €180 mn in investments during the first half of 2025, according to ELETAEN.

Solar energy becomes EU’s leading electricity source in June 2025

Solar energy reached a record share of 22.1% in the European electricity mix in June 2025, becoming for the first time the main source of electricity in the European Union, according to a report by think tank Ember.
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Eco Wave Power receives €2.45mn from EU to deploy wave energy
Eco Wave Power Global AB joins a consortium funded with €2.45mn by the European Interreg Atlantic Area programme to accelerate commercial implementation of wave energy technologies in Atlantic coastal regions.
Turkey plans to start gas supplies to Syria soon, says energy minister
Turkey has connected its gas grid to Syria’s and plans to begin supplying gas for power generation in the coming weeks, according to Turkish Energy Minister Alparslan Bayraktar.
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