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Mexico to explore deeper layers of Cantarell oil field with Petrobras technology
Mexican President Claudia Sheinbaum said Mexico will explore deepwater layers beneath the depleted Cantarell oil field in a partnership with Brazil’s state-controlled Petrobras, following the June 23 memorandum.
New UK leadership offers chance for new energy policy
Andy Burnham should combine the UK’s clean-energy ambitions with a reset of North Sea policy, supporting domestic oil and gas production to curb import dependence, retain industrial capacity and strengthen energy security.
European diesel stocks on track for 11-year seasonal low
Global fuel supply remains extremely tight amid ongoing blockage of the Strait of Hormuz following the re-escalation of the US-Iran war.
Iraq's Basra crude rises as Middle East tensions lift global oil prices
Iraq's Basra crude grades posted strong gains on July 22, tracking broader gains in global oil prices amid escalating geopolitical tensions in the Middle East that have fuelled concerns of potential supply disruptions.
TotalEnergies commissions second SOx scrubber at Antwerp refinery
The scrubber will help the site meet tighter emissions requirements attached to its renewed operating permit.
Croatia's INA completes first of five gas wells in new offshore campaign
Croatia’s INA has completed the first well in a $74mn five-well drilling campaign aimed at raising gas production from its mature offshore North Adriatic fields.
Norway's Equinor enjoys wartime bump in profits in Q2
Equinor produced 2.165mn barrels of oil equivalent per day during the quarter, 3% more than a year earlier, supported by new production in Norway, the UK and Brazil.
Moody's says Colombia fuel subsidies curb Ecopetrol gains from higher oil prices
Colombia's fuel price subsidies are limiting the financial benefit that state-controlled Ecopetrol receives from higher crude prices, although the company remains a net beneficiary of stronger international oil markets, according to Moody's Ratings
Iraq nears West Qurna 2 development deal with Chevron
Iraq is making progress in negotiations with Chevron over the development of the West Qurna 2 oilfield, with no major obstacles remaining before a final agreement is signed.
Bolivia rules out YPFB privatisation, plans overhaul of state energy firm
Bolivia's government has ruled out privatising state oil company YPFB, saying it will remain under state control given its strategic status, even as officials acknowledge the firm faces significant financial and supply problems.
Iran's Amir Kabir Petrochemical spring net profit falls 36%
Iran's Amir Kabir Petrochemical has reported net profit of IRR13,220bn ($7.2mn) for the quarter to late June, down 36% y/y, with operating revenue falling 30% to IRR86,210bn.
Guyana’s oil expansion nears one million barrels per day, reshaping regional energy dynamics
Guyana’s oil boom is approaching a new milestone as Uaru prepares to push national production beyond one million barrels per day.
Iran's Iranol lifts spring net profit 192% to IRR23,220bn
Iran's Iranol Oil Company has reported net profit of IRR23,220bn ($12.7mn) for the quarter to late June, up 192% y/y, with operating revenue rising 48% to more than IRR106,000bn on lubricant sales.
Peru seeks to lock in long-term energy planning as incoming government faces regulatory test
Peru is moving to institutionalise 30-year energy planning just before the presidential transition, but investors remain focused on delayed electricity market regulations that will determine the pace of renewable deployment.
Allied Biofuels taps Latvia's Pro Logistic Services for Uzbekistan SAF exports
Allied Biofuels has signed a logistics cooperation agreement with Latvia's Pro Logistic Services SIA to develop export infrastructure for sustainable aviation fuel (SAF) and electric sustainable aviation fuel (e-SAF) from its planned biorefinery.
Brazil bets on ports for oil boom
Brazil is accelerating investment in port infrastructure to support rising pre-salt oil production and expand export capacity, as the country seeks to strengthen its position among the world's leading crude exporters over the coming decade.
China effectively joins Western sanctions on Russian Arctic shipbuilding
China has effectively aligned itself with Western technology restrictions on Russia’s Arctic shipbuilding by withholding supplies of maritime equipment, dealing a further blow to Moscow’s plans to expand shipping along the Northern Sea Route.
Heatwave drives electricity consumption records across Central Asia, Ashgabat voltage drops
Three countries in Central Asia have registered record-breaking electricity consumption figures in the heatwave that has this month beset the region. Power demand surged with households and businesses turning to air conditioning.
Nigeria names preferred bidders for 37 oil and gas blocks
Nigeria has selected 31 companies as preferred bidders for 37 oil and gas blocks offered under its 2025 Licensing Round, concluding the commercial bidding stage of an eight-month process intended to attract investment and boost hydrocarbon production
UK lawsuit against EACOP threatens Uganda's energy future, AEC says
The African Energy Chamber has criticised a legal challenge against the East African Crude Oil Pipeline in the UK High Court, arguing that Uganda’s energy future should be decided by its own institutions rather than foreign courts.
Karoon Energy restores all wells at Brazil's Baúna oil field
Energy has brought all production wells at its Baúna oil field, off the coast of Brazil, back online after restarting the PRA-2 well, the ASX-listed oil and gas company said.
Climate change, not dams, driving Caspian Sea shrinkage, researcher says
The Caspian Sea's decline owes more to climate change than to dams or river abstraction, a water policy researcher says, with the Volga's navigation-focused dams limiting draw-off and Tehran's groundwater and wastewater plans making little progress.
Argentina's Pampa Energía approves FID for $2.7bn fertiliser plant
Pampa Energía has approved the final investment decision for a $2.7bn fertiliser project in Argentina that will produce granular urea using natural gas from the Vaca Muerta shale formation.
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