Syria

The visit of Kazakh President Kassym-Jomart Tokayev to Moscow confirms Russia's intention to consolidate its regional energy alliances, particularly in gas, amid a tense geopolitical and economic environment.
TotalEnergies has tasked Vallourec with supplying tubular solutions for drilling 48 wells as part of its integrated gas project in Iraq, reinforcing their ongoing industrial cooperation on the Ratawi field.

Electricity price surge in Syria deepens social and economic crisis

The end of subsidies and a dramatic rise in electricity prices in Syria are worsening poverty and fuelling public discontent, as the country begins reconstruction after more than a decade of war.
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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.
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.

The UN validates an Article 6.4 methodology for landfill methane

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.
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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. —

Lukoil begins sale of international assets after new US sanctions

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.
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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.
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.

Kuwait signs $489mn deal with Kuzu for wastewater treatment plant

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.
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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.

UK sanctions Rosneft, Lukoil and 51 vessels linked to Russian oil exports

The United Kingdom targets two Russian oil majors, Asian ports and dozens of vessels in a new wave of sanctions aimed at disrupting Moscow's hydrocarbon exports.
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Valeura Energy partners with Transatlantic Petroleum to restart gas exploration in the Thrace basin, with testing and drilling planned this quarter in deep formations.
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.

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.
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The new GeoMap tool identifies vast geothermal potential in the Middle East, notably for urban cooling, long-duration storage, and large-scale power generation.
Russian seaborne crude shipments surged in September to their highest level since April 2024, despite G7 sanctions and repeated drone strikes on refinery infrastructure.
Venezuelan President Nicolás Maduro has announced the opening of the oil sector to foreign investment after the United States revoked Chevron’s operating license, requiring the company to liquidate its operations by April 3.
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.

OPEC+ Gradually Increases Iraqi Oil Production Starting April 2025

OPEC+ has authorized a gradual increase in Iraq's oil quota starting in April 2025, enabling the country to reach 4.11 million barrels per day by January 2026, amid strategic developments marked by the imminent reopening of the Iraq-Turkey pipeline.
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The United States has decided not to renew Iraq’s exemption, granted since 2018, allowing Baghdad to import electricity from Iran despite U.S. sanctions. This measure increases pressure on Iraq, whose energy supply largely depends on its neighbour.
The United Kingdom has removed 24 Syrian entities from its sanctions list, including the Central Bank, allowing for the resumption of financial and commercial activities. This decision forms part of a broader trend of easing restrictions on Syria.

Opec+ announces gradual increase in production, causing oil prices to fall

Opec+ has reaffirmed its plan for a gradual increase in oil production starting from April 2025, a decision that has led to a drop in oil prices, particularly Brent. This strategy marks a shift in the cartel’s approach.
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Russia has once again accused Ukraine of attacking the TurkStream pipeline with drones, marking the second attack in two months aimed at disrupting Russian gas deliveries to Europe.
British oil giant BP will present a strategic revision on Wednesday, marked by a shift back to fossil fuels and a reduction in renewable energy investments, following a sharp decline in net profit last year.

Iraq Prepares to Resume Kurdish Oil Exports via Turkey

Baghdad announces an agreement with Erbil to restart the export of 300,000 barrels per day via the Turkish port of Ceyhan. A government delegation will travel to Iraqi Kurdistan to finalize the export mechanism after two years of suspension.
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Ankara strengthens its energy supply with an agreement signed on February 11, 2025, with Turkmengaz. The first deliveries of Turkmen natural gas are scheduled for March, marking a strategic step in diversifying gas sources for Turkey and Europe.
Following the halt of gas deliveries through Ukraine, Slovakia now relies on the TurkStream pipeline and a route through Hungary to secure its supply. This decision aligns with its independent energy strategy despite geopolitical tensions in Europe.

American Pressure and Market Balance: OPEC+ Faces Trump’s Demands

The Trump administration is increasing pressure on OPEC to boost oil production. Between economic strategies and geopolitical stakes, global market balance remains fragile as OPEC+ takes a cautious approach ahead of key decisions.
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After over a decade of restrictions, the European Union is beginning a gradual and conditional lifting of sanctions on Syria’s oil, gas, and financial sectors. A strategic move to support the country's reconstruction after the fall of the Assad regime.
ExxonMobil and Qatar Energy begin a strategic drilling operation off the coast of Cyprus, targeting new natural gas deposits. This initiative reflects the European Union's quest to diversify its energy supply sources.

Qatar pledges technical support to rebuild Syrian infrastructure

Qatar announces technical assistance to restore essential infrastructure in Syria, severely affected by years of conflict. This aid includes an energy contribution as well as support for the electricity sector, which is undergoing restructuring.
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Iraq and BP finalize an ambitious agreement to rehabilitate four oil fields in Kirkuk and exploit flared gas, aiming to boost energy production and reduce dependence on Iranian gas.
Russia reports that nine Ukrainian drones targeted a TurkStream pipeline station, without disrupting deliveries to Europe. This incident highlights the geopolitical stakes of energy infrastructure.

Iraq: TotalEnergies transforms flared gas into sustainable electricity

TotalEnergies has launched the construction of its first flared gas treatment plant in Iraq.
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Electric interconnections have reshaped global energy systems, enabling cross-border cooperation and economic stability. Rooted in Oxford Energy Institute research, this piece highlights key agreements, technological milestones, and the diplomatic strategies driving these transformative infrastructures.
Turkey Provides 58 GW of Electricity to Northern Syria in 2024