Guyana

Trump authorises CIA covert operations targeting Venezuela

Washington confirms it has mandated the CIA to carry out secret actions against Nicolas Maduro’s government, escalating tensions between the United States and Venezuela amid geostrategic and energy stakes.

Gotion High-Tech unveils 20 MWh mega battery to support Riyadh

Gotion High-Tech presented in Saudi Arabia a modular 20 MWh storage solution aimed at strengthening the country's energy capacity under its Vision 2030 strategy.

QIA invests $535mn to increase its stake in Colombian power producer ISAGEN

Qatar’s sovereign wealth fund has raised its stake to approximately 15% in ISAGEN, one of Colombia’s leading power producers, through a $535mn investment alongside Brookfield.
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Midad Energy signs $5.4bn contract with Sonatrach in Algeria

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.

Global energy demand rises by 40 million barrels of oil equivalent per day

Aramco CEO Amin Nasser warns of growing consumption still dominated by hydrocarbons, despite massive global energy transition investments.

OPEC maintains demand forecast and lowers expected 2026 deficit

OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.
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Washington authorises Trinidad and Tobago to explore Dragon gas field with Caracas

The United States has granted Trinidad and Tobago a special licence to resume negotiations with Venezuela on the Dragon gas field, partially lifting restrictions imposed on the Venezuelan energy sector.

Oversupply pushes natural carbon credit price to 2025 low

The price of nature-based carbon credits dropped to $13.30/mtCO2e in October as a 94% surge in September issuances far outpaced corporate demand.

Aramco takes control of Petro Rabigh with $702 million acquisition

Aramco becomes Petro Rabigh's majority shareholder after purchasing a 22.5% stake from Sumitomo, consolidating its downstream strategy and supporting the industrial transformation of the Saudi petrochemical complex.
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Oil rises 1.3% after limited OPEC+ output increase

Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.

Global green ammonia market to reach $38.5bn by 2033, driven by large-scale projects

Green ammonia reaches a new industrial milestone with 428 active projects and over $11bn in investments, highlighting accelerated sector growth across Asia, the Middle East, Europe and the Americas.

EDF power solutions commissions 30 MW biomass plant in Colombia

EDF power solutions and Refocosta have inaugurated Colombia’s largest wood biomass power plant in Villanueva, with 30 MW of capacity and an annual output of 200 GWh injected into the national grid.
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Saudi companies to launch 500 MW of energy projects in Syria

Al-Harfi and SCLCO signed agreements with Syrian authorities to develop solar and wind capacity, amid an ongoing energy rapprochement between Riyadh and Damascus.

Opec+ raises production by 137,000 barrels per day in November

Opec+ slightly adjusts its quotas for November, continuing its market share recovery strategy amid stagnant global demand and a pressured market.

Veolia and TotalEnergies sign agreement to optimise industrial resources

Veolia and TotalEnergies formalise a strategic partnership focused on water management, methane emission reduction and industrial waste recovery, without direct financial transaction.
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Project InnerSpace unveils GeoMap in the Middle East with 14,000 GW geothermal potential

The new GeoMap tool identifies vast geothermal potential in the Middle East, notably for urban cooling, long-duration storage, and large-scale power generation.

J&F Investimentos targets EDF’s thermal plant amid Brazil’s booming energy M&A

Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.

OPEC+ prepares new production hike amid rift between Riyadh and Moscow

Eight OPEC+ countries are set to increase oil output from November, as Saudi Arabia and Russia debate the scale of the hike amid rising competition for market share.
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Jolt launches advanced electrode plant at SPARK with Saudi government support

Jolt Green Chemical Industries appoints Dyar Al-Safwah to engineer a high-performance electrode facility at King Salman Energy Park, backed by the Ministry of Energy.

U.S. oil drilling rebounds amid global tensions

The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.

Opec+ ramps up production despite crude falling below $62

Eight Opec+ members will raise output by 411,000 barrels per day in June, boosting global supply amid falling prices and ongoing trade tensions.

CH4 receives EXIM award for 300 MW gas-to-power project in Guyana

The natural gas-to-electricity project led by CH4 Systems with several partners has been recognised by the Export-Import Bank of the United States for its energy and economic impact in Guyana.

Subsea7 and SLB OneSubsea awarded EPCI contract by bp for Ginger in Trinidad and Tobago

Bp awards a contract valued between $150mn and $300mn to Subsea Integration Alliance to develop the offshore Ginger field under a new global framework agreement.
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Ecopetrol obtains authorisation for a $500mn loan with Banco Santander

Ecopetrol received approval from the Ministry of Finance to contract a $500mn loan with Banco Santander, intended to cover non-investment expenses under its 2025 financing plan.

Atlas Renewable Energy launches a 200 MW energy storage project in Latin America

Atlas Renewable Energy and COPEC inaugurate one of Latin America’s largest energy storage systems, strengthening Chile’s power grid stability.

The wind shifts: Chinese OEMs struggle to gain traction in the European market

Despite turbines priced 30 to 40% lower, Chinese manufacturers struggle to overcome credibility barriers hindering their progress in the European wind sector.
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Ecopetrol seeks partners after Shell’s withdrawal from gas projects

Ecopetrol is developing a strategy to ensure the continuity of its offshore gas projects in the Caribbean following Shell's strategic withdrawal.

Washington criticises anti-fossil policies at IEA summit

The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.

Saudi Arabia reduces crude consumption for power generation by 2030

Saudi Arabia plans to reduce its reliance on oil for electricity generation by using more natural gas. This change could free up to 350,000 barrels of crude per day by 2030.
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Summit in London: Tensions over the role of renewable energy in global energy security

In London, global officials gather to discuss energy security amid rising geopolitical tensions. Disagreements persist on the role of renewable energy in meeting global demand.

Baker Hughes reports record orders for IET despite a drop in cash flow

Baker Hughes posted strong quarterly results, driven by a 9% increase in orders for its Industrial & Energy Technology division, despite a 50% drop in cash flow during the same period.

Sinopec unveils global energy forecast to 2060 at event in Saudi Arabia

Chinese giant Sinopec publishes its first international global energy outlook, forecasting a peak in primary energy consumption by 2045 and a rise in non-fossil energy sources.
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Modi strengthens Indo-Saudi energy partnership during visit to Jeddah

Narendra Modi is on an official visit to Saudi Arabia to consolidate energy and trade ties between India and Riyadh, a key strategic supplier of crude oil to New Delhi.

Mainstream sells 675 MW of wind and solar projects to Celsia in Colombia

Mainstream Renewable Power sold its entire Colombian portfolio to Celsia, marking its exit from the country to focus operations on three strategic markets.

Shanghai Electric signs major energy deals in Saudi Arabia and Oman

Shanghai Electric has secured strategic partnerships with Masdar and Mawarid Group for large-scale solar and wind projects, strengthening its industrial presence in the Middle East.
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Halliburton posts 67% drop in net profit for the first quarter

Weaker North American market conditions weighed on Halliburton's quarterly results, despite strong international activity and revenues exceeding analysts’ expectations.

Time is running out for a nuclear deal, warns IAEA head in Tehran

The Director General of the International Atomic Energy Agency, Rafael Grossi, emphasised the urgency of reaching a deal on Iran's nuclear programme before crucial negotiations scheduled this weekend in Rome.

Sinopec and Aramco strengthen their alliance for the Yanbu complex expansion

Sinopec and Saudi Aramco have signed a framework agreement to expand the Yanbu complex, aiming to establish an integrated refining and petrochemical platform with high industrial capacity.
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Washington revokes Trinidad and Tobago’s licence for Venezuelan gas

The US decision halts Trinidad and Tobago’s gas ambitions tied to the offshore Dragon field, undermining agreements with Caracas and several major energy companies.

Venezuela places its army on alert amid tensions with ExxonMobil in Guyana

The Venezuelan army says it will respond forcefully to any threat following allegations of a plot targeting ExxonMobil's infrastructure in contested waters off Guyana.