Iraq

JA Solar to supply 1.2 GW of modules for two photovoltaic projects in Uzbekistan

JA Solar has signed an agreement with Larsen & Toubro to supply photovoltaic modules for the Samarkand 1 and 2 solar power plants, developed by ACWA Power with a total installed capacity of 1.2 GW.

EDF, SPIC and SAPCO consortium secures financing for 1,400 MW solar projects in Saudi Arabia

Two photovoltaic plants with a combined capacity of 1,400 MW will be operational in 2027, strengthening EDF Group's international presence and Asian actors in Saudi Arabia's energy market.

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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SLB launches Tela, an agentic artificial intelligence for upstream oil operations

SLB has unveiled Tela, an agentic artificial intelligence technology designed to automate upstream processes and enhance operational efficiency at scale.

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.

Gunvor rules out resale of Lukoil assets to Russia after acquisition

Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.
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Western sanctions disrupt Lukoil’s international operations

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’s net profit drops for the eleventh consecutive quarter

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 $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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ADNOC, Microsoft, Masdar and XRG lock energy and AI loads

The partnership combines industrial AI tools, continuous power supplies, and investment vehicles, with volumes and metrics aligned to the demands of high-density data centers and operational optimization in oil and gas production.

Two SANAD Drilling Rigs to Resume Operations in Saudi Arabia by Mid-2026

The SANAD drilling joint venture will resume operations with two suspended rigs, expected to restart in March and June 2026, with contract extensions equal to the suspension period.

Dragon Oil and PETRONAS Forge Strategic Oil Exploration Agreement

Dragon Oil, a subsidiary of Emirates National Oil Company, partners with PETRONAS to enhance technical and commercial cooperation in oil and gas exploration and production.
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Envision Energy and ACWA Power Partner to Industrialize Wind Energy in Central Asia and the Middle East

The Chinese wind turbine manufacturer and Saudi operator sign a seven-year framework agreement to deploy local production lines and enhance technological cooperation in several strategic markets.

EU bans Russian LNG, Arctic bottlenecks and clauses under strain

The gradual ban on Russian cargoes reshapes European flows, increases winter detours via the Northern Sea Route and shifts risk toward force majeure and “change of law,” despite rising global capacity. —

ACWA Power signs $10bn in energy and financing deals at FII9

ACWA Power signed $10bn worth of projects and financing agreements across Central Asia, the Gulf, China and Africa, marking a new phase in its global energy expansion.
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Bulgaria halts fuel exports to EU after sanctions on Lukoil

Sofia temporarily restricts diesel and jet fuel exports to safeguard domestic supply following US sanctions targeting Lukoil, the country’s leading oil operator.

Lukoil sells its African oil assets to Gunvor under pressure from US sanctions

Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.

Washington temporarily authorises operations linked to Rosneft’s German assets

The United States has issued a general license allowing transactions with two German subsidiaries of Rosneft, giving Berlin until April 2026 to resolve their ownership status.
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Excelerate Energy to build Iraq’s first floating LNG terminal in $450 mn deal

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.

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. —

Croatia targets Russian stake in NIS to maintain oil flows

JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.

Australia loses Asian markets for seaborne thermal coal

Falling Chinese imports and Asia’s regional pivot increase pressure on Australian thermal coal exporters.

Rosatom begins excavation for small modular reactor project in Uzbekistan

The construction of Uzbekistan’s first small modular reactor (SMR) is underway, with 1.5mn m³ of earth being excavated in Jizzakh, marking a major milestone for the nuclear project led by Rosatom.
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Washington targets Iranian oil with new sanctions on phantom fleet

The US Treasury Department has imposed sanctions on more than 50 entities linked to Iranian oil exports, targeting Chinese refineries and vessels registered in Asia and Africa.

Engie and Masdar secure 1.5 GW solar project in Abu Dhabi

The consortium led by Engie and Masdar has been selected to develop a 1.5 GW photovoltaic plant in Abu Dhabi, aimed at expanding the emirate’s solar capacity under its long-term energy strategy.

US sanctions hit NIS, a key player in Serbia’s oil market

Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
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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.

Russia increases oil production and nears OPEC+ quota

Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.

Russia formally exits bilateral nuclear agreement with the United States

The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
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ExxonMobil returns to Iraq with deal on Majnoon oil field

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.

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.

Ukraine plans to increase gas imports by 30% after Russian strikes

The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.
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Belarus quadruples fuel exports to Russia in September

Rail shipments of Belarusian gasoline to Russia surged in September as Moscow sought to offset fuel shortages caused by Ukrainian attacks on its energy infrastructure.

Tusk refuses to hand over Ukrainian suspect to Germany over Nord Stream sabotage

Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.

Denmark strengthens maritime controls at Skagen Strait amid Russian shadow fleet activity

Denmark is intensifying inspections of ships passing through Skagen, a strategic point linking the North Sea and the Baltic Sea, to counter the risks posed by the Russian shadow fleet transporting sanctioned oil.
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GVH and Samsung C&T seal global alliance for BWRX-300 reactors

GVH and Samsung C&T join forces to accelerate international deployment of BWRX-300 small modular reactors, with a strong focus on Sweden and the consolidation of the nuclear supply chain.

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.

DEWA signs multiple partnerships to deploy 308 new fast-charging stations in Dubai

Dubai's electricity authority strengthens its electric vehicle charging network through three major contracts with ENOC, Dubai Taxi and Parkin under its EV Green Charger programme.
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TotalEnergies appoints Nicola Mavilla as global head of exploration

Nicola Mavilla succeeds Kevin McLachlan as TotalEnergies' Director of Exploration, bringing over two decades of international experience in the oil and gas industry.

China opts for quarterly thermal coal contracts with Indonesia for 2026

Chinese buyers begin negotiations for 2026 thermal coal deliveries, favouring shorter contracts to maintain flexibility in a stable price environment.