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Premier Energy’s IPO in Bucharest heavily oversubscribed by retail investors
Retail investors placed orders for 47mn shares of Premier Energy, during the first three days of the one-week IPO carried out by the natural gas and electricity utility company; more than six times the 7.5mn package initially earmarked
Chinese firms dominate bidding in Iraq’s LR5+ and LR6
Chinese companies have emerged as the dominant winners in Iraq’s recent oil and gas licensing rounds
Panoro Energy confirms oil at Hibiscus South Extension offshore Gabon
Panoro Energy ASA announced on May 10 that the DHBSM-2P pilot well has encountered oil and confirmed a north-eastern extension of the Hibiscus South field at the Dussafu Marin Permit offshore Gabon, further increasing recoverable reserves.
Ukraine facing funding shortage to repair power grid before winter
Foreign financial aid to Ukraine saw a sharp decline to $1.7bn in April, complicating the urgent need to restore its power grid amid Russian attacks.
WBIF grants Albania €2.6mn for floating PV plant
The Western Balkans Investment Framework (WBIF), as the EU's regional arm, has granted €2.6mn for Albania to develop a 12.9-MW floating solar photovoltaic power plant at the Vau i Dejes hydropower plant reservoir in north-western Albania.
Ukraine restricts electricity to business amid power crisis
Ukraine has announced increased restrictions on energy usage for businesses and industries as the country grapples with a significant shortage of electricity amid Russian strikes.
India’s coal imports surge 7.7% at 268.24mn tonnes in FY23-24
India's coal imports surged by 7.7% to 268.24mn tonnes in fiscal year 2023-24, buoyed by declining seaborne prices and anticipated rise in summer power demand.
PT Pertamina Hulu Energi advances geologic hydrogen exploration in Eastern Indonesia
PT Pertamina Hulu Energi, as Pertamina's Upstream Subholding, is striving to develop exploration potential for geologic hydrogen in eastern Indonesia to enhance the company's performance in safeguarding national energy resilience
Malaysia’s Scientex broadens renewable energy initiative with nationwide solar project
Scientex Bhd, a global packaging manufacturer and property developer, has unveiled plans to expand its renewable energy initiative by implementing solar photovoltaic systems across its facilities in Malaysia
Iraq shifts stance on oil cuts with a complete u-turn, signals compliance with OPEC+ quotas despite prior resistance
Hayan Abdulghani stated the Ministry of Oil has completely changed its mind from its prior statements.
Serbia inks €2.7bn energy deals with Chinese firms
Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic announced on May 9 that two major deals, with a total value of around €2.7bn, were signed during Chinese President Xi Jinping’s visit to Serbia earlier this week.
Iran raises possibility of gas exports to Europe via Turkey
Iran's natural gas could reach Eastern Europe via Turkey, a senior Iranian Foreign Ministry official said, amid renewed US pressure to choke off the Islamic Republic’s revenues.
Iran in need of $104bn in investment to address gas shortage
Iran needs $104bn in investment in the next eight years to overcome its chronic natural gas shortage, the energy management director general of the Oil Ministry said.
Jordan seeks resumption and renewal of Iraqi crude supply
Iraqi oil exports to Jordan were unexpectedly halted on April 22, amid political pressure from Iraqi MPs.
Estonian government puts new oil shale mining permit procedures on hold until end of 2025
The Estonian government has approved amendments to the Earth's Crust Act, suspending the procedures for new oil shale mining permits until the end of 2025, when the Climate Act will be drafted.
Austria’s Energie AG acquires 29.4% stake in Slovenian renewable energy firm AAE Gamit
Austria's energy company Energie AG announced that it acquired 29.4% stake in AAE Gamit, a prominent wind and photovoltaic developer in Slovenia.
Iran engages more local knowledge-based firms in oil industry with new deals
The Iranian Oil Ministry and the scientific division of the presidential office have signed a string of deals worth $1.1bn with local knowledge-based companies to manufacture equipment needed by the petroleum industry.
Iran hands over 15 oil and gas fields for development to local firms
The National Iranian Oil Co. (NOIC) has closed eight deals with local exploration and production companies to develop 15 oil and gas fields.
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