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.
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.
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.
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 formal expiration of the 2015 nuclear deal with Iran comes as international sanctions have already been reinstated and diplomatic negotiations remain stalled.
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 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.
Israeli company Prisma Photonics has raised $30mn in a funding round led by Protego Ventures to develop its artificial intelligence-based detection system for power grids and critical infrastructure.
Major global oil traders anticipate a continued decline in Brent prices, citing the fading geopolitical premium and rising supply, particularly from non-OPEC producers.
Valeura Energy partners with Transatlantic Petroleum to restart gas exploration in the Thrace basin, with testing and drilling planned this quarter in deep formations.
China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.
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.
Import quotas exhaustion and falling demand push Chinese independent refineries to sharply reduce Iranian crude volumes, affecting supply levels and putting downward pressure on prices.
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.
Tehran agrees to reopen its nuclear facilities to the IAEA, aiming to resume negotiations with Washington, while Moscow pushes for a “zero enrichment” agreement without getting involved in supervision.
Eco Wave Power Global AB joins a consortium funded with €2.45mn by the European Interreg Atlantic Area programme to accelerate commercial implementation of wave energy technologies in Atlantic coastal regions.
Turkey has connected its gas grid to Syria’s and plans to begin supplying gas for power generation in the coming weeks, according to Turkish Energy Minister Alparslan Bayraktar.
BP and Shell intensify their commitments in Libya with new agreements aimed at revitalizing major oil field production, amid persistent instability but rising output in recent months.
Meeting in Rio, BRICS nations urge global energy market stability, openly condemning Western sanctions and tariff mechanisms in a tense economic and geopolitical context.
Saudi Aramco increases its oil prices for Asia beyond initial expectations, reflecting strategic adjustments related to OPEC+ production and regional geopolitical uncertainties, with potential implications for Asian markets.
A bulk carrier operated by a Greek company sailing under a Liberian flag suffered a coordinated attack involving small arms and explosive drones, prompting an Israeli military response against Yemen's Houthis.
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
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.
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.
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.
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 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.
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.
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.
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.
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.
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 independent refineries remain cautious amid rising Iranian crude prices driven by escalating Iran-Israel tensions, potentially threatening access to the strategic Strait of Hormuz.
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.
