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Nigeria’s Tinubu approves deep offshore incentives to unlock up to $50bn investment
Nigeria’s President Bola Tinubu has approved a rules-based fiscal framework for the country’s deep offshore oil and gas sector aimed at unlocking up to $50bn in investment, beginning with the roughly $10bn Bonga South West project
International salvage operation races to contain oil spill off Oman
An international salvage operation is under way off Oman to stabilise the stricken crude tanker Caroline Bezengi and contain an oil spill that has begun reaching the country’s coastline, The National News reported on August 13.
Omani upstream energy firm extends $500m bridge-to-bond facility
OQ Exploration & Production (OQEP) - Oman’s leading upstream oil and gas company - announced on August 13 the extension of its existing $500 mn bridge-to-bond credit facility by 12 months.
Invictus confirms November spud for Musuma-1 well in Zimbabwe
Invictus Energy (ASX: IVZ, OTCQB: IVCTF, VFEX: INV) has confirmed that drilling of the high-impact Musuma-1 exploration well in Zimbabwe's Cabora Bassa Basin will begin in November.
Iran continues Qeshm island oil pollution cleanup as slicks reach mangroves
Iranian port authorities are continuing to clean oil pollution along the Suza and Shibderaz coast of Qeshm island, where slicks first seen in early August have spread to protected Hara mangrove forests.
Caspian Sea water level hits 200-year low
The Caspian Sea has fallen to its lowest level in about 200 years and is still declining, a Tehran official said, blaming higher temperatures, evaporation, weaker inflows and lower rainfall for a drop of up to 20 centimetres a year.
Murphy Oil raises 2026 capex by $300mn after offshore Côte d'Ivoire discovery
US energy company Murphy Oil (NYSE: MUR) has raised its 2026 capital expenditure programme by $300mn after its Bubale oil discovery offshore Côte d'Ivoire opened up new appraisal and development opportunities.
Guyana’s crude expansion strengthens tanker demand on longer Atlantic-Asia routes
Guyana’s oil boom is creating longer-haul tanker demand as growing Americas crude exports are increasingly routed towards Asia, tightening vessel utilisation across multiple tanker segments.
TGN creates SPV for $1.5bn Vaca Muerta gas pipeline project
YPF raises 2026 investment plan to $6.2bn as oil prices boost outlook
Argentina’s state-controlled oil company YPF has raised its 2026 investment forecast to as much as $6.2bn from a previous estimate of up to $5.8bn and increased its projected annual EBITDA to $8bn from $6bn, chief executive Horacio Marín said.
Third EACOP pumping station in Tanzania reaches 88% completion
The third pumping station of the East African Crude Oil Pipeline (EACOP) in Tanzania’s Kagera Region is 88% complete, marking further progress on the infrastructure needed to transport Uganda’s crude oil to the Indian Ocean
Oil-producing Ghana still spends 26% of imports on fuel
Fuel remained Ghana’s biggest import in 2025 despite the West African country producing and exporting crude oil, exposing a persistent weakness in its push to capture more value from its natural resources.
Lotus restarts uranium processing at Malawi's Kayelekera mine
Lotus Resources (ASX: LOT; OTCQX: LTSRF) has restarted uranium processing and sulphuric acid production at its Kayelekera mine in northern Malawi after operations were halted in June by acid supply disruptions and other problems.
Iran oil output inches up for second month but remains way below pre-war level
Iran’s crude oil production edged up for a second consecutive month in July, but remained about 700,000 barrels per day (bpd) below pre-war levels, according to the latest OPEC report.
Ghana steps up upstream oil reforms after sixth year of production decline
Ghana is stepping up reforms to lure investors back to its upstream petroleum industry as crude production continues a six-year decline from its 2019 peak.
Azerbaijan's July oil output flat as country continues to undershoot OPEC+ quota
Azerbaijan's daily oil output held broadly flat in July, at between 440,000 and 453,000 barrels depending on the source, according to differing estimates from the International Energy Agency (IEA) and Opec.
Kazakhstan prevents 511 illegal fuel and goods exports in early August
Kazakhstan's Border Service prevented 511 attempts to illegally export fuel and other goods during the first 10 days of August, with the value of the intercepted products exceeding KZT 1bn ($2.15mn).
IBL Elements to test oilfield water treatment and mineral recovery in Kazakhstan
US-based IBL Elements will test technology in Kazakhstan to treat water produced during oil and gas extraction.
Hungary awards three new hydrocarbon concessions to MVM, MOL
The Hungarian government has awarded concessions for oil and gas exploration in three areas to boost domestic production and reduce the country's dependence on energy imports.
South Korea July auto exports hit record $6.24bn
Singaporean ComfortDelGro acquires full ownership of CDG ENGIE
Singapore transport conglomerate ComfortDelGro Corporation Limited (SGX:C52) has consolidated its energy operations.
Philippines' Peza signs Calabarzon LNG feasibility deal
The Philippine Economic Zone Authority (Peza) signed a memorandum of understanding (MOU) with South Premiere Power Corp (SPPC) and Linseed Field Corp (LFC) to study direct liquefied natural gas (LNG) supply for economic zones in Calabarzon.
Philippine airfares fall as CAB cuts fuel surcharge
Filipino air travellers will see ticket prices ease through the end of the month after the government cut the passenger fuel surcharge following a dip in jet fuel prices.
China starts fuel loading at Tianwan nuclear unit 7
Engineers started inserting nuclear fuel assemblies into the core of unit 7 at the Tianwan nuclear power plant on August 12, state nuclear company China National Nuclear Corporation (CNNC) announced.
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