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EU slaps asset freezes on Belarusian oil refinery, fuel trading subsidiary
The EU has imposed asset freezes on Belarus’s Mozyr oil refinery and European Trading Company, its Russian-based petroleum-product sales affiliate, as part of its 21st sanctions package against Russia and Belarus.
US extends deadline for Russian oil firm Lukoil's sale of its international arm
The US Treasury has extended until August 22 the authorisation for negotiations over the sale of Lukoil’s international assets, giving the sanctioned Russian oil producer another four weeks to advance a potential transaction.
Russian oil firm RussNeft reverses to profit in H1
Russian mid-sized oil producer RussNeft reported a net profit of RUB12.7bn under Russian accounting standards in the first half of this year, reversing a RUB2.4bn loss a year earlier.
Russian court postpones hearing on Gazprom's seized shares in pipeline operator
Proceedings began in March 2024. Gazprom initially sought $710mn and PLN886.4mn, worth more than $900mn at the time, before raising the claim to $1bn.
Drone hits Russia's Tyumen oil refinery, damage unconfirmed
Moor did not identify the equipment affected or say whether crude processing or fuel production had been disrupted. Refinery owner RI-Invest had not issued a public statement on the incident.
Speaker warns no one will export oil if Iranian exports blocked
Iran will not allow any country in the region to sell oil if it is prevented from exporting its own crude, Parliament Speaker Mohammad Baqer Ghalibaf warned, as tensions are running high around the Persian Gulf and the strategic Strait of Hormuz.
Istanbul-listed Mercan obtains €2mn 15-year loan from ProCredit for 5-MW solar project in Romania
Mercan Kimya aims to reach 40-MW solar capacity in Romania within three years.
KKR-led consortium leases Kuwaiti pipeline network in $16bn deal
Kuwait Oil Co. has signed a $16bn pipeline lease-and-lease-back deal with a consortium led by KKR
ADNOC aims to reach 6mn-bpd target ahead of schedule
ADNOC is reviewing plans to accelerate its oil production capacity to 6mn bpd by 2031
Chevron sues Ecuador in US court to enforce $224mn arbitration award
US oil major Chevron and its subsidiary TexPet have opened a new chapter in their long-running dispute with Ecuador.
China sharply boosts Kyrgyz coal purchases as exports rise and imports fall
Kyrgyzstan's coal exports rose 11.2% year-on-year in January-May to 522,938.6 tonnes, with China emerging as the fastest-growing buyer, increasing purchases 2.5 times to 20,523.5 tonnes, according to data from the national statistical committee.
IDB approves $204.2mn package to boost Bolivia's Amazon energy security
The Inter-American Development Bank (IDB) has approved a $204.2mn (€179.5mn) financing package to support energy infrastructure in Bolivia's Northern Amazon Region, including new power interconnections with Brazil, the lender said on July 23.
World Bank approves $20mn to boost Central Asia water cooperation as Aral basin faces mounting stress
The World Bank has approved a $20mn grant to strengthen transboundary water management across Central Asia's Amu Darya and Syr Darya river basins.
Germany greenlights Rosatom-linked nuclear fuel plant in Lingen
Authorities in Lower Saxony, northwest Germany, granted French nuclear group Framatome permission on July 22 to manufacture Russian-designed nuclear fuel rods and assemblies at its Lingen plant, using components supplied by TVEL.
Iran war closes Hormuz, Bab al-Mandeb simultaneously for first time ever
For the first time since records began, both of the Middle East's great oil chokepoints are shut at once for the first time ever. The Strait of Hormuz has been effectively closed since February 28, and now Bab al-Mandeb Strait is also shut.
Germany faces five times higher gas prices versus 2020
The newspaper compared an average German border import price of around €12 per MWh in 2020 with European wholesale prices of just over €60 per MWh at the start of this week.
Kazakhstan cuts oil output, threatens legal action over CPC strikes
Kazakhstan temporarily cut oil production after loading was suspended at the Caspian Pipeline Consortium's (CPC) marine terminal in Novorossiysk, Russia, its energy ministry said on July 23, days after issuing a formal demand for Ukraine to halt dron
Ghana targets 2028 launch for first phase of 1,200-MW gas power plant
Ghana plans to build a 1,200-MW state-owned gas-fired power plant in the Central Region, with an initial 600-MW phase due in 2028 and turbines to be procured from GE Vernova.
Indian group Vulcan invests $160mn to electrify Mozambique coal mine
Miner Vulcan has invested about $160mn to electrify its Moatize coal mine in Mozambique, a move aimed at cutting diesel consumption, improving operational efficiency and reducing the environmental footprint of one of Africa's largest coal operations.
Russia's Novatek reports 9% dip in H1 earnings despite higher revenues and production
Finam analyst Sergey Kaufman attributed the EBITDA decline largely to the pricing structure of Yamal LNG’s long-term contracts, which are predominantly linked to oil prices with a lag of six to nine months.
EU sanctions Georgia's Kulevi oil refinery in first major inclusion of Georgian entity in Russia package
Kazakhstan's KMG strikes deals with US engineering firm KBR to design first Kazakh SAF plant
The agreements formalise the project’s move into the engineering phase and establish the technological and legal framework needed before construction can proceed.
Azeri private oil firm makes first foray into US upstream sector
The company said it was the first private Azerii group to own and operate upstream assets in the US.
Nigeria plans renewable energy companies to rival power distributors
Nigeria’s Rural Electrification Agency plans to develop renewable energy service companies operating interconnected solar mini-grids that could compete with conventional electricity distributors over the next 10 to 15 years.
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