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Brazil seeks more new oil basins as pre-salt output nears peak
Brazil is preparing to open additional areas for oil exploration, including offshore blocks in the south and projects using hydraulic fracturing.
Mozambique warns deforestation threatens carbon-credit revenues
Mozambique warned that continued deforestation, weak monitoring and inadequate investment threaten its ability to generate further carbon-credit revenues, five years after receiving $6.4mn from a World Bank-backed forest conservation programme.
Tanzania fuel prices may remain elevated until early 2027 amid Hormuz tensions
Tanzania’s fuel prices could remain elevated until December or early January, the Tanzania Association of Oil Marketing Companies (Taomac) has warned, as continued tensions around the Strait of Hormuz keep global oil markets volatile
Zimbabwe’s Bikita Minerals seeks lithium export deadline relief as $400mn plant delayed to July
Zimbabwe’s Bikita Minerals is seeking government flexibility over the January 1, 2027 cutoff for lithium concentrate exports after shipping delays pushed commissioning of its lithium sulphate plant from March to July 2027
Tanzania reaffirms 8,000MW electricity target with renewables to reach 75% by 2030
Tanzania is courting private investment to more than double its generating capacity and raise the renewable share from 61.8% to 75% within four years.
Zambia’s solar capacity up nearly sixfold to 1,027MW, Hichilema says, as grid investment lags
Zambia’s installed solar power capacity has increased nearly six-fold to 1,027.5MW from 178MW in 2024, surpassing its 2026 target as inadequate transmission infrastructure threatens to constrain electricity delivery.
Latest first Atlantic hurricane in 121 years bears down on US Gulf coast
Isaias has become 2026's first Atlantic hurricane, the latest first hurricane in 121 years, and is heading for the US Gulf coast, the National Hurricane Center said on October 8.
Iran gas refinery hits 10-year processing high
Iran’s Shahid Hashemi-Nejad Gas Refinery processed more than 7bn cubic metres (bcm) of natural gas in the first half of the current Persian calendar year, its highest intake for the same period in a decade.
Iran’s new oil chief vows to keep industry moving despite US pressure
Iran’s Acting Oil Minister Hamid Bovard said the country’s oil industry was “more alive, determined and capable than ever”, days after US officials questioned Tehran’s ability to keep its oil trade going under pressure from Washington.
Kazakhstan settles long-running cost dispute over Dunga oil field
Kazakhstan’s Ministry of Energy and Dunga Operating have reached an agreement to resolve a long-running dispute over historical costs at the Dunga oil field, with investors committing to compensate the state and fund a new phase of development.
South Korea's lead over China in LNG carriers narrows
China has cut South Korea's lead in orders for large liquefied natural gas (LNG) carriers to fewer than 10 vessels this year.
Hyundai E&C joins Westinghouse on Netherlands nuclear design
Westinghouse has contracted South Korea's Hyundai E&C (KRX: 000720) to carry out part of the front-end engineering design (FEED 1) studies for two planned nuclear power plants in the Netherlands.
China connects Russian-built Tianwan 7 reactor to grid
Unit 7 at China's Tianwan nuclear power plant delivered its first electricity to the grid.
Thailand oil block gives Malaysian Dialog longer-term upside, says MBSB
Malaysia's Dialog Group Bhd (Bursa Malaysia: DIALOG) is unlikely to book any near-term profit from a newly awarded onshore oil block in Thailand, although the asset could add to earnings over the longer run, MBSB Research said.
Philippines eyes $430mn investment in microgrid auction
The Philippine Department of Energy (DOE) expects its microgrid auction to attract as much as PHP27bn ($430mn) in investment and connect more than 100,000 remote households to electricity.
Hyosung opens South Korea's first 2GW HVDC test facility
Hyosung Heavy Industries (KRX: 298040) has built a facility to test the performance of a 2-gigawatt high-voltage direct current (HVDC) controller, the first in South Korea to use domestic technology.
Cuba condemns US seizure of $2.8mn in fuel shipments bound for island
Cuba has accused the US of threatening governments and businesses involved in supplying fuel to the island after American authorities seized or detained 90 biodiesel shipments worth about $2.8mn
Bangladesh approves 442-MW solar plant on former coal site
Bangladesh has approved a $230mn solar power project at Rampal, on land originally earmarked for expanding a coal-fired power station, as the country seeks to diversify its electricity mix and reduce dependence on imported fossil fuels.
Reliance makes India top non-US buyer of Venezuelan oil
Reliance Industries (NSE: RELIANCE), the conglomerate controlled by Indian billionaire Mukesh Ambani, has become the largest purchaser of Venezuelan crude outside the US.
PDVSA says fuel supplies remain secure after fire at Venezuela's Cardón refinery
Venezuela’s state oil company PDVSA said domestic fuel distribution would continue without disruption after a fire forced an emergency shutdown at the Cardón refinery in Falcón state
Venezuela oil recovery may take a decade and billions in investment, ConocoPhillips says
Venezuela faces a prolonged and costly path to restoring its oil industry to historical production levels, with recovery likely to take at least 10 years and require tens of billions of dollars in investment, according to ConocoPhillips chief
Pacific Coast Energy targets 40,000 bpd in Venezuela within six months
Pacific Coast Energy Co. has begun operating in Venezuela’s oil fields and aims to more than double its current output within six months, as smaller companies move to revive production under new opportunities in the country’s energy sector
Venezuela’s oil GDP seen growing as much as 18% in 2026, economist says
The outlook reflects a combination of stronger international prices and larger output compared with 2025. The war in Iran has pushed oil prices to recent highs, allowing Venezuela to benefit from improved market conditions alongside rising production
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