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European gas hits four-month high on Mideast tensions
European natural gas prices surged to a four-month high this week as renewed Middle East violence collided with depleted reserves and strong Asian air-conditioning demand. The Dutch TTF benchmark briefly hit €60/MWh — its highest level in months.
India's Rajasthan oil refinery not set to launch petchem production until March 2027
India’s Rajasthan Refinery has begun commercial operations at its new 9mn-tonne-per-year refinery in western India, although the complex’s petrochemical facilities have been delayed until March 2027.
South Korea approves restructuring of petchem assets
The plan represents the government’s second major petrochemical restructuring approval, following the suspension of 1.1mn tpy of cracking capacity at Daesan earlier this year.
Finland's Neste enjoys strongest quarterly result on record in Q2
Finland’s Neste posted its strongest quarterly result on record in the second quarter, as exceptionally wide diesel margins lifted earnings ahead of an eight-week shutdown of its Porvoo refinery starting in August.
Ghana tightens fuel controls as upstream petroleum revenue misses target
Ghana plans tighter controls on refined petroleum movements, bunkering and customs procedures after upstream oil and gas revenue fell about 31% below target in the first half of 2026.
Spain's Repsol expects strong oil refining margins through 2026 and 2027
Repsol expects refining margins to remain strong through the rest of this year and into 2027, supported by constrained fuel supplies, low inventories and continued geopolitical disruption.
Low Rhine levels hit German petrochemicals output
Exceptionally low water levels on the Rhine are restricting feedstock supplies to German petrochemical plants, contributing to production cuts and a force majeure at LyondellBasell’s Wesseling butadiene unit.
Mozambique aims to turn LNG investment into broader economic growth
Mozambique is seeking to convert more than $50bn of planned LNG investment in the Rovuma Basin into long-term economic growth by expanding local industry, creating jobs and strengthening the role of domestic businesses.
Ghana plans $2bn gas plant to power 1,200MW energy push
Ghana is to build a new integrated gas processing plant as part of a drive to add 1,200 megawatts of power generation capacity, with the project expected to bring nearly $2bn in benefits to the state over five years, the finance minister said.
Portugal's Galp enjoys 45% climb in profits on rising Brazilian output, Iran fallout
The result exceeded the company-compiled analyst consensus of €494mn.
TotalEnergies appeals against French ruling requiring it to address Scope 3 emissions
Emissions from the combustion of oil and gas by customers, known as Scope 3 emissions, typically account for 90% of the total climate footprint of oil and gas companies.
EU's 21st sanctions package puts Kazakhstan back in the firing line
Kazakhstan featured twice in the fallout from the European Union's 21st sanctions package against Russia, adopted by the Council of the EU on July 23, as Brussels widened its crackdown on third countries it accuses of helping Moscow.
Africa steps up grid expansion and renewable energy investment
Africa’s power sector saw steady progress last week as governments and utilities focused on expanding transmission networks, accelerating renewable energy investment and strengthening regional electricity links.
Russia sets new daily record for pipeline gas flow to China
Russia’s Gazprom set a new daily record for natural gas deliveries to China through the Power of Siberia pipeline on July 25, marking the third all-time high reached on the route since the start of this year.
SERAP sues Nigeria's NNPCL to get records explaining $155bn in receivables, liabilities
SERAP has sued the Nigerian National Petroleum Company Limited (NNPCL) seeking detailed records explaining more than $155bn in receivables and liabilities reported in the state-owned oil company’s 2023 audited accounts.
Iran to launch first smart oilfield project at Darkhoein to prevent failures
Iran’s state-run Arvandan Oil & Gas Co. (AOGC) is set to start the first “smart oilfield” project at the Darkhoein field in the oil-rich southwestern province of Khuzestan to implement predictive monitoring at the field, its CEO said.
Brazil extends gasoline subsidy again as government resists reinstating diesel relief despite oil near $100
Brazil's government has extended a subsidy of $0.08 per litre for gasoline for a further 30 days the Finance Ministry said, as rising oil prices driven by the escalating Middle East conflict pushed Brasília to keep intervening in fuel markets.
SLB OneSubsea submits lowest bids in Brazil’s Petrobras tender for 32 subsea trees
SLB OneSubsea submitted the lowest bids in a tender by Petrobras for the supply of 32 subsea trees and related subsea equipment for the Sergipe Deepwater (SEAP) project, according to data released by procurement platform Petronect.
France’s Vallourec wins Allseas contract to supply pipes for Petrobras-operated Atapu 2 project
French pipe maker Vallourec has secured a contract from offshore contractor Allseas to supply carbon steel seamless line pipes and thermal insulation coating for the Atapu 2 offshore oil project in Brazil.
Argentina’s Adecoagro to buy Brazilian sugar mill from Raízen for $148mn
Argentine agribusiness firm Adecoagro has agreed to buy the Caarapó sugar mill in Brazil's Mato Grosso do Sul state from Raízen for BRL760mn ($148mn), as it seeks to expand its sugar, ethanol and energy business.
Brazil's oil royalties hit $7.2bn in first half, boosted by Middle East crude rally
Brazil collected BRL36.5bn ($7.2bn) in oil royalties in the first half of the year, with a quarter of the total driven by a surge in crude prices linked to conflicts in the Middle East, the Brazilian Petroleum, Gas and Biofuels Institute (IBP) said.
Cameroon growth set to slow as Hilli Episeyo LNG vessel exits
Cameroon’s economic growth is forecast to slow to 3.2% in 2026 as the departure of the Hilli Episeyo floating liquefied natural gas (FLNG) vessel reduces gas exports, according to the National Economic and Financial Committee.
Canada’s FortisBC granted key approval for Tilbury LNG expansion
Canadian natural gas utility Fortis BC has received the go ahead from British Columbia’s provincial government to proceed the project following the exemption of the requirement for a Certificate of Public Convenience and Necessity.
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