Giant discoveries are transforming the Black Sea into an alternative to Russian gas, despite colossal technical challenges related to hydrogen sulfide and Ukrainian geopolitical tensions.
Saudi Aramco and Sonatrach have announced a reduction in their official selling prices for liquefied petroleum gas in August, reflecting changes in global supply and weaker demand on international markets.
Turkey has begun supplying natural gas from Azerbaijan to Syria, marking a key step in restoring Syria’s energy infrastructure heavily damaged by years of conflict.
Subsea 7 reports a strong increase in its financial results for the second quarter of 2025 and announces a definitive agreement for a merger with Saipem, while maintaining its growth outlook for the year.
Carbon Ridge reaches a major milestone by deploying the first centrifugal carbon capture technology on a Scorpio Tankers oil tanker, alongside a new funding round exceeding $20mn.
H2APEX Group SCA has completed a EUR30mn ($32.5mn) capital increase to finance the acquisition of HH2E Werk Lubmin GmbH and support the development of its hydrogen project in Germany.
—
Saipem and Subsea7 formalise their merger agreement, resulting in the creation of Saipem7, an international energy services player with consolidated revenue of €21bn and an order backlog of €43bn.
The European ban on fuels refined from Russian crude is reshaping import flows, adding pressure to already low inventories and triggering an immediate diesel price rally.
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.
The Luxembourg-based group will handle engineering, procurement, commissioning and installation of flexible pipelines and umbilicals to link a new field to Egypt’s existing offshore infrastructure, with offshore work scheduled for 2026.
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 Middle East conflict forces Iraq to delay certain oil developments, disrupting field operations despite temporary stability in production and exports amid growing logistical tensions.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
The European Investment Bank is providing €1.6bn ($1.73bn) for the first submarine power cable between Spain and France, a 400 km link that will raise exchange capacity to 5 000 MW by 2028.
The Kremlin condemns the European proposal to lower the price cap on Russian oil to $45 per barrel, asserting that this measure could disrupt global energy markets, as the G7 prepares for decisive discussions on the issue.
