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Korea’s POSCO International strikes deal with Mongolia’s Erdenes Mongol to develop critical mineral production

South Korea’s POSCO International (047050.KS) has struck a deal with Mongolian state-owned miner Erdenes Mongol to develop critical mineral production and technology complexes, according to a report.

Arrow expands Colombia drilling after Icaco well delivers 830 BOPD

Arrow Exploration said its Icaco-2 exploration well in Colombia’s Llanos basin encountered 100 feet of net oil pay and is producing about 830 barrels of oil per day (bopd) gross, supporting plans for additional drilling at the Icaco field

Norway's ECOnnect to deliver jettyless LNG system for Colombia's second import terminal

Norwegian technology company ECOnnect Energy has been contracted to supply its IQuay F-Class jettyless transfer system for a new liquefied natural gas import terminal at Cartagena Bay — Colombia's second LNG gateway on the Caribbean coast

Colombia Pacific LNG import terminal targets November launch

Colombia's first liquefied natural gas import terminal on the Pacific coast is expected to begin operations in November, marking a key step in strengthening gas supply security in the country's southwest

Colombia oil rig activity falls to lowest since 2022 amid field blockades

Colombia's active drilling fleet fell to its lowest level since November 2022 in May as prolonged blockades in key producing regions disrupted operations and weighed on crude output, industry association Campetrol reported

Colombia's Ecopetrol pauses Brava offer after Brazil regulator seeks changes

Ecopetrol's planned acquisition of Brazilian oil company Brava has been temporarily suspended after Brazil's securities regulator requested amendments to the transaction documents, the Colombian state-controlled energy producer said

Cuba delivery portal Envioscuba shuts to new orders as US sanctions squeeze diaspora lifeline

Turkey says ‘No’ to Baghdad proposal for extension of Kirkuk-Ceyhan oil pipeline agreement

Current conditions proposed by Baghdad for an extension of the current Iraq-to-Turkey (Kirkuk-Ceyhan) oil pipeline agreement are not satisfactory, a senior Ankara official said on June 16, as reported by Reuters.

China lives within its means, the resulting fuel demand slump easing pressure on oil markets

Petrol sales at Sinopec, China’s largest refiner and fuel retailer, fell 8% year on year in April, while diesel sales were also down – by 6%.

PDVSA-crypto trial advances as questions over missing funds remain unanswered

Prosecutor Eddy Rodríguez urged the court to dismiss a series of motions filed by defence lawyers, including requests for dismissals, acquittals, reviews of pretrial detention measures and the admission of supplementary evidence

China pledges deeper rail and power links with Vietnam

China has signalled its readiness to strengthen railway and electricity connections with Vietnam, paving the way for closer trade, logistics and energy cooperation

Russia, Laos strengthen nuclear energy partnership

Russia and Laos have signed an agreement to expand cooperation on the peaceful use of nuclear energy, laying the groundwork for future nuclear power development in the Southeast Asian nation.

Iran launches gas output boosting plan as war damage deepens supply concerns

Iran has launched an “action plan” to ramp up natural gas extraction from onshore fields, Oil Minister Mohsen Paknejad said as the country grapples with a widening gas deficit exacerbated by damage sustained during the recent war.

Deal or no deal? Comparing the Iran MoU to the JCPOA

When the US and the P5+1 concluded the Joint Comprehensive Plan of Action in 2015, the document ran to 159 pages, enshrined in UN Security Council Resolution 2231 with a snapback mechanism.

Vaca Muerta feedstock surge sparks new investment cycle for Argentina petrochemicals

Argentina’s petrochemical industry is entering a new phase of investment driven by growing feedstock availability from the Vaca Muerta shale formation and a renewed focus on processing hydrocarbons domestically rather than exporting raw materials.

Mexican crude oil prices drop 5% as a result of US-Iran peace deal

Mexico’s crude oil benchmark declined sharply on June 15 following the preliminary peace agreement between the United States and Iran, dropping prices to the lowest levels in weeks.

Argentina's TGS approves final investment decision for $3bn Vaca Muerta liquids project

Transportadora de Gas del Sur (TGS) has approved the final investment decision for its Natural Gas Liquids (NGLs) project in Argentina’s Vaca Muerta formation, committing $3bn to what the company described as the largest investment of its kind.

Libya's NOC signs production-sharing deals with energy majors

Libya's National Oil Corporation (NOC) has signed production-sharing agreements with several leading international companies following the country's first licensing round in nearly 20 years

First phase of $1.4bn solar project in Kyrgyzstan goes operational

The first phase of a planned $1.4bn and 1.9-gigawatt solar project in Kyrgyzstan, has gone operational, the government has announced.

Equinor drills a duster near Heidrun

Equinor and its partners have drilled a dry wildcat well in the Norwegian Sea, failing to find commercial volumes of hydrocarbons in the Heidrun Cellar SE prospect.

Slovak environment minister says six turbines at Gabčíkovo hydro plant had to be fixed

Slovak Minister of Environment and Vice Prime Minister Tomáš Taraba said that six turbines at the Gabčíkovo hydroelectric power plant (HPP) on the Danube river had to be fixed to secure their functionality.

Scotland's THREE60 scores support deal with Norway's Var Energi

Aberdeen-based THREE60 Energy has secured a four-year project support agreement with Vår Energi for work on the Norwegian continental shelf.

US licences for Serbia’s NIS set to expire as talks on Russian stake drag on

Two licences issued by the US Treasury’s Office of Foreign Assets Control (OFAC) allowing Serbia’s oil company NIS to operate and to continue negotiations over the sale of the Russian stake expire at midnight on June 16.

Serbia signs NIS management deal with MOL, expects US licence extension

The Serbian government and Hungary’s MOL have signed a shareholder agreement on the future management of oil company NIS, as Belgrade seeks to secure the refinery’s operations under US sanctions.

Norwegian oil firm Aker BP expands digital drilling surveillance system

Aker BP is expanding the use of DrillDocs’ CleanSight digital shaker surveillance system across its contracted rig fleet on the Norwegian continental shelf.