Latest Stories
South Korea wins $350mn Oman plant deal
South Korean plant builder Doosan Enerbility (034020.KS) won a KRW530bn ($350mn) contract to construct a combined-cycle power plant in Oman, the company announced on June 15.
India says fuel, fertiliser supplies remain stable
India’s fertiliser and fuel supplies remain secure despite escalating tensions in West Asia, with authorities reporting adequate inventories, uninterrupted refinery operations and stable logistics across key sectors.
Colombia gas imports hit record 32% of demand as output slides to multi-year low
Colombia imported a record share of its natural gas in the first week of June, covering 32% of national demand — equivalent to 299.1 Gbtud — as a structural decline in domestic production and the approaching El Niño weather pattern
Pakistan’s Pioneer Cement approves 28-MW solar project to cut energy costs
Pakistan’s Pioneer Cement Limited (PSX: PIOC) has approved the installation of a 28.3-megawatt solar power plant at its manufacturing facility in Chenki in Punjab, as part of efforts to reduce energy costs.
India remains second-largest buyer of Russian energy in May
India remained the second-largest importer of Russian fossil fuels in May, purchasing an estimated €5.8bn ($6.7bn) worth of hydrocarbons as refiners stepped up crude oil imports from Russia.
Vietnam expands wind power ambitions for 2030
Vietnam is betting on wind power to fuel its green transition amid the energy uncertainty, while fuel price is changeable.
Myanmar pushes ahead with offshore gas expansion
Myanmar is moving forward with new offshore gas developments amid the global shock with fuel price changes.
JSW secures coal exploration licence in Poland, beating foreign competitor
Jastrzębska Spółka Węglowa (JSW) has been awarded a licence to explore coal and methane deposits in the "Dębieńsko 1" seam, beating a foreign competitor in a competitive bidding process.
New initiative launched to redirect Gulf energy flows away from Strait toward Mediterranean
Syria envisioned as key cog in new energy distribution network.
Iran to drill new wells in three phases of South Pars gas field
Iran will soon begin drilling new wells at phases 22 to 24 of the giant South Pars gas field as part of a development programme aimed at increasing natural gas extraction and completing the expansion of the three phases, a project official said.
After the blockade: what Hormuz’s reopening does and does not resolve
A US-Iran memorandum has reopened the Strait of Hormuz after 108 days, but structural damage to energy markets, insurance and tanker routes will persist well beyond the diplomatic announcement
Estonia’s Sunly to invest €100mn in Latvia's largest hybrid renewable energy project
http://newsbase.com/
SLB, PDVSA agree long-term partnership to modernise Venezuela’s energy industry
The memorandum of understanding establishes a broad platform for cooperation covering exploration, field development, production activities and training programmes
PDVSA, Schlumberger forge partnership to expand energy cooperation
Venezuela has signed a memorandum of understanding with oilfield services giant Schlumberger Limited
Venezuela, US hold energy talks as oil sector recovery accelerates
Venezuelan interim President Delcy Rodríguez met with senior US officials to review the bilateral energy agenda, highlighting deepening cooperation as the South American country expands oil production and attracts foreign investment
Lazard offers cut-price bid for Venezuela debt advisory role
Lazard has made a $25mn proposal to become Venezuela’s financial adviser for its sovereign and PDVSA debt restructuring, challenging the appointment of Centerview Partners in what could become one of the world’s largest debt overhauls
US capital targets Venezuela as investment interest accelerates
US investors are moving quickly to gain exposure to Venezuela following political changes earlier this year and the reopening of key sectors to foreign capital, with oil assets attracting the strongest interest
China debt clouds Venezuela’s restructuring efforts
Philip Luck of the Center for Strategic and International Studies warned that any IMF-backed restructuring could face difficulties if other creditors are asked to accept losses while Chinese claims retain preferential treatment
Egypt and Eni discuss gas output increase and Cronos field link-up
Egypt is currently discussing plans with Italian energy major Eni to increase natural gas production from the company's concession areas in the Mediterranean and the Nile Delta, as well as the Cronos field link-up
US sees rising demand for Venezuelan crude as output expands
US Energy Secretary Chris Wright said American refineries are capable of processing more Venezuelan crude and are expected to increase purchases as the country’s oil production continues to recover
Venezuela warns of new oil spill threat as tensions with Trinidad deepen
Venezuela's government argued that the latest incident was larger than a previous spill reported in May
Trafigura, Vitol target Asia as Venezuelan oil output climbs
Recent outreach has included South Korea, Malaysia and India, where traders have pitched Venezuelan barrels at competitive prices
Brazil’s Petrobras starts cash flow from new FPSO
Brazil’s state-controlled oil company Petrobras has begun generating revenue from its latest floating production unit after completing the first oil offloading from the FPSO P-79 at the Búzios field in the Santos Basin.
Equinor hands Brazil deal to Ocean Installer
Ocean Installer, a unit of Norway’s Moreld ASA, has secured a contract from Equinor to carry out well tie-in work at the Bacalhau field in Brazil’s Santos Basin under a deal lasting 4.5 years.
Follow us online