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EnergyPathways draws down second financing tranche for UK gas storage project
EnergyPathways has drawn down a second £1mn tranche under its £15mn financing agreement to advance development of its Marram Energy Storage Hub project in the UK North Sea.
Conrad Energy hires jack-up rig for the Mako gas field off Indonesia
Indonesia-focused Conrad Energy Asia has signed a binding contract for a jack-up drilling rig to develop the Mako gas field off the coast of the Asian country.
UK's Union Jack Oil secures $1.3mn loan facility
Union Jack Oil has secured a £1mn loan facility from Egdon Resources to strengthen working capital and support general corporate activities.
The world's record heatwaves - Statista
According to NASA, there is “unequivocal evidence that Earth is warming at an unprecedented rate”, Statista reports.
Shell offers to exchange up to $6.4bn in outstanding notes
The exchange offers cover six series of notes issued by Shell Finance US and guaranteed by Shell, with maturities ranging from 2028 to 2051.
Azerbaijan tops BP's payments to governments in 2025
BP paid almost $10bn to the government of Azerbaijan – its biggest fiscal contribution compared with any other government.
Fitch raises oil and gas sector outlook to improving on Hormuz closure price effect
Fitch has raised its 2026 oil and gas outlook to improving, lifting its Brent assumption to $87 on a five-month Strait of Hormuz closure, with prices seen at $100-110 before easing to $70 by September.
Russian court claims Gazprom's nationalised German unit cannot continue arbitration in Switzerland
A Russian court has barred German firm SEFE Marketing & Trading from continuing arbitration proceedings against Russian gas supplier Gazprom in Switzerland.
Norwegian oil workers call off strike
Norwegian oil companies and labour unions have reached a wage agreement, averting strike action that could have disrupted oil and gas production at a time of heightened global supply concerns.
Aker BP raises stake slightly in Norway's Johan Sverdrup field
Aker BP has slightly increased its stake in the Johan Sverdrup oil field after a review of ownership shares among the field’s partners.
Nigeria’s integrated energy firm Heirs Energies wins EMEA award for $750mn financing deal
Nigeria’s Heirs Energies Limited, one of Africa’s leading indigenous-owned integrated energy companies, has been recognised on the global stage at the EMEA Finance Project Finance Awards 2026.
Israeli strike hits Iran’s Mahshahr petchem hub for third time since war began
Iran’s major petrochemical hub in Mahshahr came under Israeli air attack for the third time since the US and Israel launched their war against the country in late February, prompting an emergency evacuation of personnel from the industrial zone.
Nigeria launches 20MW mini-grid project in Kogi State
Nigeria’s government has launched a 20MW mini-grid power project in Kogi State, which it described as the largest mini-grid development in North Central Nigeria, as part of a rural electrification programme valued at more than $100mn
Geopolitical crises are the new norm for energy markets
Geopolitical disruptions are becoming a permanent feature of global energy markets rather than isolated crises.
OPEC+'s symbolic quota raise
OPEC+’s latest decision to raise oil production quotas is unlikely to have much immediate impact on global supply.
Putin claims sanctions have accelerated Russia's development of domestic oil and gas tech
Russian President Vladimir Putin said Western sanctions had accelerated the development of domestic technologies in Russia’s oil and gas sector.
Russia's Gazprom extends gas supply deals with Serbia and Bosnia's Serb Republic
Russia’s Gazprom has agreed to extend gas supply contracts with Serbia and Bosnia’s Serb Republic, the company said last week following talks at the St Petersburg International Economic Forum.
Russia's SPIEF marked by absence of foreign oil and gas deals
SPIEF highlighted Russia’s global ties, but major foreign oil and gas deals were scarce.
Algeria, Nigeria and Niger launch construction on Trans-Saharan Gas Pipeline
Algeria, Nigeria and Niger have launched construction on the Algerian section of the Trans-Saharan Gas Pipeline, advancing a long-delayed project designed to transport up to 30bn cubic metres of Nigerian gas
Atlantic 'cold blob' points to weakening ocean current nearing tipping point, study finds
The cooling of the North Atlantic "cold blob" is being driven by a weakening AMOC current system that may be nearing a tipping point, a new study using observational data has found.
Cameroon advances Kribi hydrocarbon terminal to boost fuel security and storage
Cameroon has secured presidential approval for financing a major hydrocarbon terminal at the deep-water port of Kribi, aims to nearly double the country's petroleum-storage capacity and significantly expand LPG reserves.
Mercuria acquires Shell’s Argentina downstream business in $1.42bn deal
Swiss energy trader Mercuria Energy Group has agreed to acquire the entire Argentine business operated by Raízen under the Shell brand for $1.42bn, taking control of 894 service stations, the Dock Sud refinery and other strategic fuel infrastructure
Vaca Muerta fracturing activity rebounds in May as shale oil drives growth
Hydraulic fracturing activity in Argentina's Vaca Muerta shale formation rose in May, reaching 2,484 fracture stages, up 6.3% from April and marking the second-highest monthly level of 2026.
EU approves Romanian pipeline changes to expand gas export options for Ukraine
Ukraine is set to gain more opportunities to secure natural gas supplies after the European Commission approved changes allowing Romania's gas transmission operator Transgaz to offer export capacity to Ukraine through key pipeline connections.
Vaca Muerta seen as blueprint for Latin America's energy expansion
Energy industry leaders said Latin America has the resources needed to become a major global supplier of oil and natural gas, but warned that investment in infrastructure, regulatory stability and closer regional cooperation will be crucial.
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