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Iran

Iran cuts 1.4 GW to Iraq, Baghdad speeds up regional interconnections
The suspension of 1,400 MW of electricity supplied by Iran to Iraq puts pressure on the Iraqi grid, while Tehran records a record 77 GW demand and must balance domestic consumption with regional obligations.
China rejects European threat to reinstate sanctions against Iran
Beijing opposes the possible return of European trio sanctions against Iran, as the nuclear deal deadline approaches and diplomatic tensions rise around Tehran.

Karpowership and Seatrium Partner to Deploy Floating LNG Power Plants

Karpowership and Seatrium formalize a strategic partnership to convert floating LNG units, strengthening their joint offering in emerging mobile electricity markets.
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OPEC Revises Global Oil Forecasts for 2026 to 106.5 Million b/d
OPEC's August report reveals Russian production above quotas and commercial dominance in Asia, while Kazakhstan massively exceeds its reduction commitments.
Iraq and Syria Revive Kirkuk-Baniyas Pipeline to Bypass Traditional Routes
Baghdad and Damascus intensify discussions to reactivate the 850 km pipeline closed since 2003, offering a Mediterranean alternative amid regional tensions and export blockages.

ADNOC L&S Defies Maritime Turbulence with Record Second Quarter Results

The Emirati logistics giant posts 40% revenue growth despite depressed maritime freight rates, driven by Navig8 integration and strategic fleet expansion.
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Eco Wave Power completes installation of pilot project at the Port of Los Angeles
Eco Wave Power has completed the full installation of its wave energy system at the Port of Los Angeles, paving the way for initial operational tests scheduled for September.
Massive power outage in Iraq after losing 6,000 MW of capacity
A nationwide blackout left Iraq without electricity for several hours, affecting almost the entire country due to record consumption linked to an extreme heatwave.

OPEC+ Cuts Production Despite Higher Quotas in July

OPEC+ oil production fell to 41.65 million barrels per day in July 2025, reveals S&P Global's Platts survey, as Saudi Arabia normalizes production after June's Iran-Israel tensions.
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Armenia and Azerbaijan Sign TRIPP Corridor Agreement Under American Auspices
The two countries end 37 years of conflict with a 43-kilometer corridor under American control for 99 years. The infrastructure will transport 50 million tons of goods annually by 2030.
IAEA Dispatches Envoy to Tehran to Negotiate New Nuclear Framework
A senior official from the UN agency begins technical discussions with Iran on Monday, the first meeting since June strikes on Iranian nuclear sites.

Iran-Iraq clandestine oil network generates three billion dollars annually

Baghdad denies any involvement in sophisticated smuggling system mixing Iranian and Iraqi oil. Washington sanctions networks accused of financing designated terrorist organizations.
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The Black Sea Defies Financial Obstacles to Become Europe’s Gas Hub
Giant discoveries are transforming the Black Sea into an alternative to Russian gas, despite colossal technical challenges related to hydrogen sulfide and Ukrainian geopolitical tensions.
ISRAEL: NewMed Energy signs historic $35bn gas deal with Egypt through 2040
The Israeli group NewMed Energy has signed a natural gas export contract worth $35bn with Egypt, covering 130bn cubic metres to be delivered by 2040.

Japanese refiners face critical challenge of Middle Eastern oil dependency

Record Gulf crude imports expose structural vulnerabilities of Japanese refining amid rising geopolitical tensions and Asian competition.
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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.
Chinese oil companies strengthen their presence in the Iraqi market
Independent Chinese oil companies are intensifying their investments in Iraq, aiming to double their production to 500,000 barrels per day by 2030 and compete with the sector’s historic majors.

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.
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RWE secures two solar projects in North Rhine-Westphalia through a federal tender
Pietro Mendes resigns from Petrobras to lead Brazilian oil agency ANP
Bahrain signs strategic energy agreement with EOG Resources
Aalo Atomics raises USD 100 million to launch its first nuclear power plant
Togolese ZIH Acquires Petrogal GB with Structured Financing from Ecobank
Iran: Oil Dependence Limits Alliances with Moscow and Beijing
Despite strong ties, Iran's dependence on oil revenues limits its ability to secure substantial strategic support from Russia and China amid current international and regional crises, according to several experts.
Abu Dhabi Fund allocates $205mn to connect Gulf electricity grids
The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.

Geothermal investment jumps 85% driven by new technologies

North America registers record funding of $1.7 billion in the first quarter of 2025, driven by emerging innovative techniques exploiting previously inaccessible geothermal resources, according to recent analysis by Wood Mackenzie.
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Turkey’s Eren Energi seeks 375,000 tonnes of thermal coal before December
Turkish power producer Eren Energi Elektrik Uretim has launched a tender to buy 375,000 tonnes of thermal coal to be delivered in five shipments starting from August 2025, according to a document seen by Platts on June 27.
Ignis Energy secures $13.6mn to accelerate global geothermal projects
Ignis Energy closes its $13.6mn Series A funding round, gathering international players to finance geothermal projects in the United States and Türkiye, now entering the technical maturity phase.

Hormuz Threat: Producing Countries Face an Imminent Diplomatic Crisis

The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
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IAEA Confirms Concerns About Iranian Enriched Uranium Stockpile
The International Atomic Energy Agency expresses concerns over Iran’s enriched uranium stockpiles following the abrupt suspension of inspections at key sites disrupted by recent attacks whose consequences remain uncertain.
Trump authorizes China to buy Iranian oil, shaking global oil markets
Donald Trump announced that the United States will no longer oppose Chinese purchases of Iranian oil, immediately triggering a drop in global crude oil prices and profoundly reshaping international energy trade partnerships.

Seoul freezes electricity rates amid LNG supply risk concerns

South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
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Eni, BP and TotalEnergies partially evacuate Iraq; Lukoil maintains operations
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.
Chinese Refineries Cautious Amid Iran-Israel Tensions Threatening Oil Supply
Chinese independent refineries remain cautious amid rising Iranian crude prices driven by escalating Iran-Israel tensions, potentially threatening access to the strategic Strait of Hormuz.

Trump Warns of Oil Price Surge Following Strikes Against Iran

Donald Trump urges control of oil prices following U.S. military action against Iranian nuclear facilities, amid escalating tensions around the strategic Strait of Hormuz, threatening to significantly impact global markets.
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Iraq Suspends Oil Projects Amid Regional Conflict and Strained Logistics
The Middle East conflict forces Iraq to delay certain oil developments, disrupting field operations despite temporary stability in production and exports amid growing logistical tensions.
Israel resumes gas exports to Egypt and Jordan
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.

Libya Denounces Greek Oil Exploration off the Coast of Crete

Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
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UK Sanctions 20 “Shadow Fleet” Tankers and Rosneft Marine
The United Kingdom tightens sanctions against Russia's oil sector by targeting twenty tankers operating in the "shadow fleet" and Rosneft Marine, amid rising crude prices exceeding the G7-imposed price cap.
Iran Nuclear: An acknowledged capability long kept quiet
Confidential reports from the IAEA and multiple intelligence agencies confirm Iran's uranium enrichment to weapons-grade levels, contradicting Tehran's official statements. EnergyNews.pro retraces the evolution of Iran's nuclear program since 2015, three years before the Trump administration's withdrawal from the nuclear agreement.

Weakened by sanctions, Iran loses influence on the global oil market

Long a major player in OPEC, Iran sees its influence on the oil market significantly reduced due to US sanctions, Israeli strikes, and increasing reliance on exports to China.
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Syria resumes petroleum exports from strategic Banias refinery
After several months of interruption following a major political upheaval, Syria's Banias refinery has shipped its first cargo of refined products abroad, marking a partial revival of its energy sector.
Oil: OPEC maintains forecasts, Russia below production quota
OPEC confirms global oil demand estimates for 2025-2026 despite slightly adjusted supply, while several members, including Russia, struggle to meet their production targets under the OPEC+ agreement.
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