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 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 Algerian government plans a full upgrade of the SCADA system, managed by Sonelgaz, to improve control and supervision of the national electricity grid starting in 2026.
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.
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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Lukoil has started divesting its foreign assets following new US oil sanctions, a move that could reshape its overseas presence and impact supply in key European markets.
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.
Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
Algerian company Sonatrach has resumed exploration activities in Libya's Ghadames Basin, halted since 2014, as part of a strategic revival of the country's oil sector.
The Algerian national company has restarted a key liquefaction unit in Skikda, strengthening its export capacity amid massive investment in the gas sector.
Amman says it is ready to provide electricity and natural gas to Lebanon using its already operational infrastructure, pending the completion of regional procedures.
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.
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.
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
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.
Algeria plans to allocate $60 billion to energy projects by 2029, primarily targeting upstream oil and gas, while developing petrochemicals, renewables and unconventional resources.
ShaMaran and several international oil companies have reached a provisional deal with Baghdad and Erbil to resume crude exports from the Kurdistan region via pipeline, after months of suspension.
Baghdad has restarted crude shipments from Kurdistan via the pipeline to Turkey, following a two-year halt linked to legal and contractual disputes involving international firms operating in the region.
Eight oil companies and Iraqi and Kurdish authorities have reached a preliminary deal to restart crude exports via the Iraq-Turkey pipeline, halted since March 2023.
TotalEnergies launches construction of the final key infrastructures of the Gas Growth Integrated Project in Iraq, putting into execution all its oil, gas, solar and water components.
The Iraqi federal government initiates legal proceedings against the autonomous region of Kurdistan regarding gas contracts signed with American companies, while Washington reaffirms its support for these strategic energy agreements.
The Algerian state utility plans a 56% increase in 2025 investment, targeting domestic network expansion and electricity export growth towards Europe and Africa.
Iraq has signed a deal with China’s Geo-Jade and Hilal al-Basra to develop an integrated project combining oil, refining and electricity in the country’s south.
BP announced strategic progress on its oil projects in Iraq and Angola, marking a key step in its upstream development, according to an internal communication published on April 26.
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
Baghdad has signed a strategic agreement with GE Vernova to build natural gas power plants totalling 24,000 MW, as the country seeks to reduce its energy dependence on Iran.
Despite severe Western sanctions targeting Russian energy, Rosatom continues its international nuclear projects and maintains a steady flow of enriched uranium to Europe and the United States, thus supporting the Russian economy through an effective diversification strategy.
The United States has sanctioned a Chinese refinery processing Iranian crude, increasing pressure on Tehran and raising concerns over global oil market stability.
The Algerian energy group Sonelgaz is offering its technical expertise to Burkina Faso to strengthen its electrical infrastructure, illustrating Algeria's strategic intention to consolidate its presence in sub-Saharan Africa’s energy markets.
Cut off from Iranian energy imports by Washington, Iraq accelerates commercial efforts in Africa while resuming oil exports through Turkey to quickly secure new economic and energy markets.
Algeria announces an ambitious goal to increase its annual natural gas production to 200 billion cubic meters within five years, supported by significant investments and strategic infrastructure projects aimed at the international market.
Iraq has initiated its first waste-to-energy project in Baghdad, a $500 mn venture supported by Chinese firm SUS ENVIRONMENT and overseen by Iraqi authorities.
Iraq and the United Arab Emirates have submitted compensation plans to OPEC+ to offset their production surplus in February, amid falling crude prices and the gradual reduction of cuts planned for April.
Under pressure from US sanctions, Iraq explores alternatives to Iranian gas to secure its electricity supply, notably turning to Qatar and Oman, while considering the installation of floating LNG terminals.
Iran invests $17 billion to counteract declining reservoir pressure at South Pars, a gas field shared with Qatar, securing estimated reserves equivalent to around 363 billion barrels of oil.
