Israel

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.
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 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 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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The International Atomic Energy Agency denounces the ongoing inspection blockage at several damaged Iranian nuclear facilities, where stocks of highly enriched uranium remain.
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.

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.
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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.
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. —

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.
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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 recorded a 23% increase in orders in Q3 2025, driven by its gas segment, while net income fell 20% year-on-year to $609mn.

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.
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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’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.

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.
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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.
The European Commission imposes new rules requiring proof of refined crude origin and excludes the use of mass-balancing to circumvent the Russian oil ban.
The European Commission, in reports underlines the impact of gas supply cuts in the second quarter of 2022.
At the beginning of October, drones were flying over Norwegian and Danish installations. Attempt of intimidation, espionage, the Norwegian authorities took this incident seriously because we learn that the Norwegian police has just arrested a Russian national on its territory.

Cyprus: launch of the electricity connection project with the EU

Cyprus inaugurated on Friday a project funded by the European Union (EU) for the construction of a submarine power cable linking the eastern Mediterranean island with Greece.
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Lebanon and Israel announced that they have reached a "historic" agreement to settle their maritime border dispute.
The "gas hub" in Turkey proposed by Russian President Vladimir Putin to export gas to Europe makes "no sense".

Putin Proposes to Erdogan the Creation of a “Gas Hub” in Turkey to Export to Europe

Vladimir Putin has proposed to his Turkish counterpart Recep Tayyip Erdogan to create a "gas hub" in Turkey to export gas to Europe.
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By pushing for a reduction in oil production, Saudi Arabia has strained its relationship with the United States.
Negotiations on the exploitation of hydrocarbons in the eastern Mediterranean are taking place between Egypt, the Palestinians and the Hebrew state.

Beirut asks TotalEnergies to begin offshore exploration “immediately

Lebanon has asked the French group TotalEnergies to start "immediately" the exploration drilling in its waters.
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"Lebanon got all its rights" in the final draft of the agreement on the delimitation of its maritime border with Israel.
France "took note" on Friday of the hydrocarbon exploration agreement in Libyan waters signed with Turkey.

Start of Tests to Connect the Karish Offshore Field to Israel

The British group Energean has announced the start of tests to connect the Karish offshore gas platform to Israeli territory.
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The Egyptian and Greek foreign ministers have deemed "illegal" the memorandum of exploration for hydrocarbons in Libyan waters.
Enligth Renewable Energy announces that Björnberget has met the regulatory requirements to begin the commercial operation process.

Libyan Prime Minister defends controversial oil deal with Turkey

The head of the Libyan government based in Tripoli, Abdelhamid Dbeibah, has defended his agreement to explore for hydrocarbons in Libyan waters signed with Turkey and criticized by his political rivals and countries in the region.
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Despite Hezbolla's threats, the Israeli government is staying the course and asserting its rights to exploit Karish in its territorial waters.
Lebanon is close to reaching an agreement with Israel over their disputed waters containing offshore oil deposits

Border dispute: Lebanon says it is close to an agreement with Israel

Lebanon is expected to give its response on Tuesday to a US proposal to settle its maritime border dispute with Israel.
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Libya and Turkey have signed an agreement for hydrocarbon exploration in Libyan waters three years a maritime delimitation agreement.
In the Gaza Strip, deprived of electricity for 12 hours a day, the owner of a restaurant relies on solar panels.