The expansion of the global oil and gas fishing market is accelerating on the back of offshore projects, with annual growth estimated at 5.7% according to The Insight Partners.
AMEA Power has commissioned a 300 MWh battery energy storage system in Egypt, a first for the country, extending the Aswan solar site’s activity and consolidating its presence in the African market.
ADNOC announces the transfer of 24.9% of its shares in OMV to its subsidiary XRG, continuing the streamlining of its international assets and preparing the creation of Borouge Group International.
OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.
Three new oil fields in Iraqi Kurdistan have been targeted by explosive drones, bringing the number of affected sites in this strategic region to five in one week, according to local authorities.
Three major players commit to developing five solar plants and two wind farms, with commissioning scheduled between 2027 and 2028 as part of Saudi Arabia’s national programme.
Masdar and Iberdrola announce a joint investment of €5.2 billion in the East Anglia THREE offshore wind farm in the United Kingdom and full commissioning of the German Baltic Eagle project (476 MW).
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.
Trade between Russia and Saudi Arabia grew by over 60% in 2024 to surpass USD 3.8 billion, according to Russian Minister of Industry and Trade Anton Alikhanov, who outlined new avenues for industrial cooperation.
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
The Emirati company Global South Utilities plans to install up to 250 MW of solar capacity in Madagascar, a project aimed at strengthening the national electricity network heavily reliant on fossil fuels and frequently facing energy deficits.
Golden Pass LNG, jointly owned by Exxon Mobil and QatarEnergy, has asked US authorities for permission to re-export liquefied natural gas starting October 1, anticipating the imminent launch of its operations in Texas.
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.
Curve Energy Corp. has formalized a non-disclosure agreement with Saudi Aramco Technologies, allowing confidential exchanges of information as part of potential technological collaborations in the global market for low-sulfur marine fuels.
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.
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.
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
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.
After several years of negotiations, Uganda officially signs an agreement to establish the Hoima oil refinery, a central project in the country's energy strategy aimed at reducing dependency on fuel imports.
During a visit to Guyana, U.S. Secretary of State Marco Rubio announced that any Venezuelan attack on the territory or oil infrastructure of Guyana would trigger a military response, heightening regional tensions.
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.
The global liquefied natural gas engine market is expected to double by 2033, fuelled by energy diversification policies, growing refuelling infrastructure and demand for cost-effective transport solutions.
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.
Qatar has started supplying natural gas to Syria via Jordan in order to alleviate electricity shortages and support the rebuilding of the country's energy infrastructure.
Colombian President Gustavo Petro has ordered an investigation into alleged price speculation by local gas suppliers in response to price spikes reaching up to 36%, and announced a new import agreement with Qatar.
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.
Global demand for liquefied natural gas (LNG) is expected to rise by 60% by 2040, driven by economic growth in Asia, emissions reduction efforts in industry and transport, and the impact of artificial intelligence, according to Shell.
The South African government is urging the acceleration of oil exploration in the offshore Orange Basin, shared with Namibia, to reduce the country’s energy dependence.
Suriname plans to drill at least 10 offshore wells by 2026, with investments estimated at $9.5 billion, aiming to exploit significant oil reserves and attract foreign capital.
The Gulf Cooperation Council Interconnection Authority (GCCIA) and the Qatar Fund for Development (QDF) have signed a $100 million financing agreement to connect the Gulf power grid with Oman. This strategic project, with a total cost exceeding $700 million, aims to enhance regional energy security and efficiency.
GAIL, Indian Oil, and BPCL are in talks with U.S. suppliers to purchase additional liquefied natural gas (LNG). The objective is to diversify supply sources and secure extra volumes following the lifting of U.S. export restrictions.
Amid trade tensions with the United States, Taiwan's state-owned CPC Corporation is exploring an increase in its purchases of American natural gas. This decision could reshape its supplier distribution and redefine its international energy relations.
Joseph Saddi is the new Minister of Energy in Lebanon. He inherits a sector weakened by reliance on imports and failing infrastructure, while international partnerships struggle to restart oil and gas exploration.
ADNOC Gas reports a net profit of $5 billion in 2024, marking a 13% year-on-year growth. The company strengthens its position with adjusted revenues of $24.43 billion and plans strategic investments through 2029. ##
After two record years of mergers and acquisitions in the oil and gas sector, upstream M&A activity is expected to slow down in 2025. Despite a deal pipeline valued at $150 billion, geopolitical tensions and restrictive fiscal policies are limiting new opportunities.
Negotiations between the Kurdistan Regional Government and Baghdad officially focus on salary payments. Meanwhile, the Iraq-BP agreement to increase production in Kirkuk fuels speculation about a possible resumption of oil exports.
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.
Global natural gas markets will remain tight in 2025, with rising demand meeting slower supply growth. Geopolitical tensions could further exacerbate these market pressures.
