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Saudi Aramco reports 10th consecutive quarterly profit decline
Saudi Aramco announced its 10th straight drop in quarterly profits as falling oil prices hit revenues, putting pressure on the key driver of Saudi Arabia's economy.
Iran's Lake Urmia water level reaches 'undeclared' status amid drought crisis
Lake Urmia's water level has hit its lowest measurable point, with officials warning complete drying by summer's end as the crisis deepens.
Indian opposition blames government on Trump threats
Under President Donald Trump’s second term his administration has taken a much more hawkish stance that Indian purchases enable Russia to weather sanctions and indirectly fund its war effort
Inpex begins front-end engineering on Indonesia’s Abadi LNG project
Japan’s Inpex has begun front-end engineering and design work on the Abadi LNG project off the coast of Indonesia.
Saudi Arabia has cut spending sufficiently despite oil price concerns, IMF says
Saudi Arabia has cut spending enough this year and probably will not need to make further fiscal adjustments even if crude oil prices weaken.
Brazilian deepwater yields BP's biggest oil and gas find in decades
BP has announced its most significant oil and gas discovery in 25 years following successful drilling at the Bumerangue prospect in Brazil's deepwater Santos Basin.
Several missing as flash floods hit 70 residential areas and 34 homes in Russia's Krasnodar region
Torrential rains in Russia's Krasnodar region have flooded 70 residential areas and 34 homes in the villages of Defanovka.
Renewables make up Dutch power supplies for the first time - OWID
For the first time, in 2024, more than half of the electricity produced in the Netherlands came from renewable sources, and almost all of it (45%) from solar and wind.
COMMENT: Russian sanctions have failed, but its buffers are eroding
Russia’s ability to withstand Western sanctions is showing signs of strain as fiscal and external buffers erode, according to senior economists at the Institute of International Finance.
Reconnaissance Energy Africa starts drilling Kavango West 1X exploration well in Namibia
Canadian oil and gas explorer Reconnaissance Energy Africa (ReconAfrica) has announced the spudding of the onshore Kavango West 1X exploration well located within Petroleum Exploration Licence (PEL) 73 in northeast Namibia.
China’s ‘Dark Fleet’ working to evade sanctions, import Iranian oil
China is covertly importing large volumes of Iranian oil through a clandestine network of vessels operating in international waters near Malaysia and Singapore, according to a major investigation
OPEC+ nations to increase oil production by 547,000 barrels per day in September
Eight OPEC+ countries will implement a production adjustment of 547,000 barrels per day in September.
European Union allocates €1.1mn to address urgent water crisis in Iraq
The European Union is allocating €1.1mn million in humanitarian funding to address the escalating water crisis in Basra, southern Iraq, as climate change continues to dry out the country.
Ukraine imposes sanctions on 94 "shadow fleet" captains from multiple countries
Ukraine has imposed sanctions on 94 individuals from Russia, Myanmar, Iran, Pakistan, China, India, Bangladesh and Georgia, as well as five oil transportation companies.
Siberian permafrost could disappear by 2100 as rapid thawing accelerates
An international team of scientists from Britain, Switzerland, Israel and the United States has analysed the composition of more than 60 mineral formations found in caves located in the delta of Siberia's Lena River, revealing stark predictions.
Report says explosion hit pipeline that delivers Turkmen gas to Russia, but Turkmenistan no longer sells gas to Moscow
Russia appears to use pipeline to supply gas to Uzbekistan via Kazakhstan.
Russia’s Krasheninnikov volcano erupts for the first time in 600 years
Russia’s Krasheninnikov volcano on the Kamchatka Peninsula erupted for the first time in recorded history on August 2, sending a plume of ash up to 6km into the atmosphere, according to the Kamchatka Volcanic Eruption Response Team (KVERT).
Russia expecting the grain harvest to tumble by 20mn tonnes as Global Warming pushes its fertile grain belt northwards
Russia is on course to see its grain harvest tumble by 20mn tonnes as its grain belt bakes in a Climate Crisis heatwave and Global Warming shifts its fertile grain belt northwards.
India will continue Russian oil imports despite Trump tariff threats
India will continue purchasing oil from Russia despite threats of penalties from US President Donald Trump, two Indian government sources speaking on condition of anonymity say.
Rosatom may whiff on Kazakh nuclear project due to financing yips
Chinese firm teed up to replace Russian entity on project
Kazakhstan reviews its big oil contracts looking for a better deal
COMMENT: Kazakhstan is reviewing its big oil contracts Kazakhstan has begun laying the groundwork for a revision of the contracts it signed with big oil in the 1990s when the country was flat on its back.
US DoE muddies the ClimateCrisis waters with report downplaying the emissions problem
As part of the Trump administration’s attempts to take the Climate Crisis off the agenda, the US Department of Energy has released a report downplaying the impact of fossil fuels on global warming.
Can India dump Russian oil imports completely if Trump’s secondary sanctions appear?
Since early 2024 India has typically bought 1.5–2.0 mbpd of Russian crude, or about 35–40% of its total imports. US President Donald Trump is threatening crushing 100% tariffs on Russia’s business partners if they continue to import crude.
Syria inaugurates Azerbaijan gas pipeline through Turkey
Syria has inaugurated a regional gas transmission line linking the country with Azerbaijan through Turkey.
India to continue buying Russian oil despite Trump's threats
Indian officials have said they would keep purchasing oil from Russia despite threats of penalties from US President Donald Trump.
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