Türkiye has offered to support Syria in oil and gas exploration, including seismic surveys and drilling, as part of expanding energy cooperation between the two countries. The deal also includes plans to boost electricity transmission capacity and develop phosphate resources through a new memorandum of understanding.
About half of Venezuela’s oil production is now being exported to the United States (US), Reuters reported, quoting US Energy Under Secretary, Kyle Haustveit, highlighting the rapid shift in Venezuela’s crude trade following Washington’s easing of restrictions on the country’s oil sector.
Haustveit’s comments point to the US becoming the dominant destination for Venezuelan crude as production and exports recover and US refiners increase their purchases of the heavy oil.
Aramco and Maaden have signed an agreement to establish a 51%-49% joint venture focused on exploring copper and other energy transition minerals across a 182,000-square-kilometer zone in Saudi Arabia, using AI and advanced computing to accelerate mineral discoveries.
Norway’s Equinor has signed an agreement with Harmattan Energy Limited, a Chevron subsidiary in Namibia, to acquire a 17.4% participating interest in Petroleum Exploration Licence 90 (PEL 90) in the Orange Basin offshore Namibia.
Fuel shortages have resurfaced across several Russian regions, with authorities tightening gasoline sales controls after renewed drone attacks on refineries disrupted supplies and pushed gasoline sales lower.
Iraq’s planned crude oil pipeline through Syria is expected to require at least $15 billion in investment and around four years to construct, providing an alternative export route to reduce the country’s reliance on the Strait of Hormuz.
Saudi Aramco is negotiating with Asian refiners to supply Arab Medium and Arab Heavy crude through ship-to-ship transfers off Fujairah, as Gulf producers seek alternative export routes amid ongoing disruptions to the Strait of Hormuz.
ExxonMobil has awarded about $1.1 billion worth of pre-investment contracts for certain ​upstream equipment for the Rovuma liquefies natural gas (LNG) ‌Phase 1 project, a major natural gas development in the deep waters of the Rovuma Basin offshore northern Mozambique.
The awards cover subsea production systems, large-bore production valves and offshore line ​pipe, and are intended to support ​the project's progress toward a final investment decision (FID), according to Reuters.
Eni and Algeria’s Sonatrach have signed a new Memorandum of Intent (MoI) to expand cooperation on decarbonization initiatives and emissions reduction across Algeria’s oil and gas sector, while promoting the adoption of international industry practices, according to a press release by Eni.
Venezuela has awarded a license to BP, XRG, and UCC Holding to develop the second phase of the Loran offshore gas field, as Caracas seeks to attract foreign investment and expand natural gas production.
