Pakistan

The sultanate awards three mining concessions to local companies. Projects target strategic deposits to reduce hydrocarbon dependence.
The United States plans to collaborate with Pakistan on critical minerals and hydrocarbons, exploring joint ventures and projects in strategic areas such as Balochistan.

Russia gains adoption of oil and gas standards in Africa and the Middle East

Around 80 Russian technical standards for oil and gas have been internationally validated, notably by the United Arab Emirates, Algeria and Oman, according to the Institute of Oil and Gas Technological Initiatives.
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Google invests in Italy’s Energy Dome to deploy in Oman a long-duration CO₂-based storage solution, in partnership with Takhzeen Oman and the sovereign wealth fund Oman Investment Authority.
Pakistan Refinery Limited is preparing to import Bonny Light crude oil from Nigeria for the first time, reflecting the expansion of Asian refiners’ commercial partnerships amid rising regional costs.

Chinese manufacturers accelerate global expansion, Wood Mackenzie reports, to overcome trade barriers

The proliferation of Chinese industrial sites abroad, analysed by Wood Mackenzie, allows renewable energy players to expand their hold on the sector despite intensified global protectionist measures.
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Gentari and Amazon Web Services have entered into an 80 MW power purchase agreement in India, marking a major step for large-scale wind energy development in the region.
The Saudi oil giant posts solid results despite falling oil prices. The company pays $21.3 billion in dividends and advances its strategic projects.

Dangote entrusts refinery expansion to former Shell executive

Dangote Group appoints David Bird, former Shell executive, as head of its Refining and Petrochemicals division to accelerate regional growth and open up equity to Nigerian investors.
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Malaysia plans to invest up to 150bn USD over five years in American technological equipment and liquefied natural gas as part of an agreement aimed at adjusting trade flows and easing customs duties.
Sanctions imposed on August 1 accelerate the reconfiguration of Indo-Pacific trade flows, with Vietnam, Bangladesh and Indonesia emerging as principal beneficiaries.

Stonepeak launches JouleTerra to develop strategic energy sites across Europe

Stonepeak announces the creation of JouleTerra, a platform dedicated to the aggregation and management of grid-connected land, aimed at supporting the deployment of renewable energy infrastructure throughout the European continent.
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TotalEnergies ENEOS has commissioned a 680-kilowatt photovoltaic facility at TechnipFMC’s Johor Bahru site, supplying 20% of the factory’s energy needs under an 18-year power purchase agreement.
Eni is considering increasing its share buyback programme after financial results exceeded expectations, with reduced debt and revised annual targets in the gas segment.

US tariffs and FEOC restrictions threaten solar supply chain and create risks for the industry

New anti-dumping tariffs and Foreign Entity of Concern (FEOC) restrictions are disrupting the US solar supply chain, while ongoing dependence on China exposes the industry to significant risks, according to Wood Mackenzie.
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Beijing has launched the construction of a colossal dam on the Yarlung Tsangpo, with $167.1bn in public investment, drawing attention from New Delhi and downstream states.
The rapid rise of solar energy is disrupting Pakistan’s electricity sector, forcing the government to revise its tariff policy and introduce new taxes on solar panel imports.

TNB, Petronas and Terengganu Inc launch green hydrogen hub and hybrid solar in Malaysia

Malaysia reaches a decisive milestone in its energy roadmap with the launch of a hybrid floating hydro-solar project and the first large-scale green hydrogen hub in the state of Terengganu.
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Technip Energies has secured a contract to lead preparatory works for a floating liquefied natural gas unit in Africa, confirming its presence in the international gas infrastructure market.
TCL Solar has concluded two exclusive partnerships in Suzhou with AU Solar and Madina Solar to supply 250 megawatts of photovoltaic modules to the Pakistani market, addressing rapidly growing local energy demand.
A Wood Mackenzie study reveals that U.S. liquefied natural gas (LNG) could play a strategic role in meeting Asia's energy demands, countering coal growth, and maintaining the economic competitiveness of emerging economies.
The Adani conglomerate has lost $55 billion in market capitalization following corruption charges against its CEO, Gautam Adani, in the United States. The case has shaken markets and jeopardized its international partnerships.

Major Deal: Tata Power and Druk Green Partner for 5 GW of Clean Energy in Bhutan

Tata Power and Druk Green Power Corp announce a 5 GW project comprising hydropower, pumped storage, and solar energy, enhancing regional energy security and addressing the energy needs of both India and Bhutan.
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Oman hosts its first gH2 Investors Day to showcase concrete projects and investment opportunities in a rapidly growing energy sector.
Saudi Arabia, the world’s largest oil exporter, has inaugurated its first carbon credit exchange platform during COP29 in Baku, aiming to bolster its decarbonization efforts and diversify its economy.

Indian Supplier Adani Reduces Electricity Supply to Bangladesh Due to Outstanding Payments

The Indian group Adani has halved the electricity supplied to Bangladesh due to $850 million in unpaid bills. This reduction in energy flow places the country in a position where it must quickly address a shortfall.
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Saudi Arabia, Russia, and six other OPEC+ countries extend their production cuts by 2.2 million barrels per day until the end of December to support oil prices weakened by uncertain demand.
With growing emissions in the oil and gas sectors, the Asia-Pacific is exploring carbon capture and storage (CCS) solutions to meet climate goals, but the lack of a unified strategic framework hinders progress.

Germany: SEFE and ConocoPhillips sign a 10-year gas purchase agreement

Germany's SEFE has concluded a gas purchase deal with U.S. company ConocoPhillips for the delivery of 9 billion cubic meters of gas over 10 years, as part of a new business partnership.
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European Union leaders and Gulf countries meet in Brussels to prevent an escalation in the Middle East, addressing trade, energy, and regional stability.
The Pakistani government is terminating power purchase agreements with five independent power producers, including Hub Power Company Ltd, as part of reforms to reduce energy costs and meet the IMF’s requirements. Savings of 411 billion Pakistani rupees are expected.

Nepal Exports Hydroelectricity to Bangladesh via India

Nepal commits to exporting 40 MW of hydroelectricity to Bangladesh via India, thereby strengthening regional energy relations and boosting its economy despite environmental challenges.
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TotalEnergies announces an increase in its oil and gas production until 2030, despite pressures to reduce fossil fuels. CEO Patrick Pouyanné defends this strategy amid climate challenges.
Oman regains its investment status after seven years of financial uncertainty marked by a credit rating downgrade in 2016. Rating agency Standard & Poor's (S&P) has announced the upgrade of Oman’s credit rating from ‘BB+’ to ‘BBB-’ with a stable outlook. This decision reflects the country’s sustained efforts to rebalance its public finances through structural reforms and prudent debt management. The government implemented a medium-term financial plan which, combined with a rationalization of public spending, has generated budget surpluses.

JCM Power wins competitively-priced 240 MW hybrid project in Pakistan

JCM Power has won a 240 MW hybrid wind-solar project in Pakistan at a price of $0.031/kWh. This project strengthens K-Electric's power grid capacity, supporting the country's energy transition.
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Sungrow and MSR-GE are developing a 100 MW/400 MWh battery energy storage project in Malaysia, aimed at improving grid stability and preparing for the energy transition in the state of Sabah.
PETRONAS awards RM71 million to support seven sustainable energy research projects at Monash University Malaysia, including CO2 emission reduction and hydrogen production.

Pertamina and Russian crude: an evolution that redefines the Asian market

Pertamina, the Indonesian oil company, is exploring supplies of Russian crude, raising hopes among refiners in Thailand and Japan. This dynamic could disrupt light crude prices in Southeast Asia, prompting increased vigilance.
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Turkey strengthens its position in the energy market by signing a 10-year agreement with TotalEnergies for the import of liquefied natural gas. This initiative aims to diversify supplies and become a regional hub for Europe.
Oman is moving towards a major energy transition by selecting twelve developers for five wind power projects. These initiatives aim to diversify the national energy mix and achieve the goal of zero net emissions by 2050. Find out more about this transformation.
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