Libya signs 25-year agreement with TotalEnergies and ConocoPhillips that will bring in over $20 billion of investment
Libya's Prime Minister Abdulhamid al-Dbeibah announced that the country will sign on Saturday a 25-year agreement with TotalEnergies of France and ConocoPhillips in the United States. The deal involves more than $20 billion dollars worth of foreign-financed investments and is aimed at increasing production by as much as 850,000 barrels a day.
India's state-owned BPCL signs $780 million oil contract with Brazil's Petrobras
India's Bharat Oil Corp Ltd. will purchase?12,000,000 oil barrels from Brazil's Petrobas for $780 million in fiscal 2027. This is?twice as much as its contract with Petrobas 2026, and will be used to replace Russian oil. A government statement was released on Friday. Indian refiners have redrafted their oil import strategy, purchasing more oil from countries in the Middle East…
Documents show that Venezuela's proposed oil-reform will give companies operating autonomy and cash proceeds to companies.
Drafts of a proposed overhaul of Venezuela's hydrocarbons laws showed that foreign and local companies could operate oilfields independently through a new model of contract, commercialize the?output?, and receive sales proceeds, even when acting as minor partners of PDVSA. Delcy Rodriguez, Venezuela's interim president, presented the proposal last week to the National Assembly.
Deep-sea Mining Company seeks international permit in accordance with new Trump rules
The Metals Co became the first deep sea miner on Thursday to apply for Washington's permission?to mine?the international oceanbed, under a new streamlined permit process that was introduced this week. Deep-sea mines have the potential to produce large quantities of minerals for electric vehicles and energy transition. However,…
Sources say that during Starmer's visit, Britain and China will revive the 'Golden Era business dialogue'
Three sources familiar with this initiative have confirmed that the British and Chinese governments will be aiming to revive "golden age" business dialogues when Keir Starmer, Prime Minister of Britain, visits Beijing next Monday. Top executives from both countries are 'invited' to participate. AstraZeneca is among the British…
In Indonesia, environmental laws result in the loss of permits for a gold mine and a power plant owned by China.
The Indonesian government revoked permits for 28 companies, including a China-backed hydropower station and a gold mining unit operated by the conglomerate Astra International. This was in response to accusations that environmental violations had worsened floods last year. In late November, cyclones caused floods and "landslides" on the island Sumatra.
Kazakhstan's Tengiz Oil Field to Remain Shut for Another 7-10 Days
Oil production at Kazakhstan's vast Tengiz oil field, one of the world's largest, could be halted for another 7-10 days after shutting down on Sunday, cutting crude exports via the Caspian Pipeline Consortium, three industry sources told Reuters.The field's operator Tengizchevroil (TCO) said on Monday that due to power supply problems…
Oil prices and earnings in the Gulf region are mixed.
The major Gulf stock exchanges were mixed early on Tuesday as investors awaited earnings and weighed the weaker oil price, while the Saudi index fell on profit-taking following its recent rally. Saudi Arabia's benchmark index fell 0.1% following a rally of 3.3% triggered by government announcements last week to liberalise access to the capital markets for foreign investors starting next month.
Floods in Mozambique force thousands of people to flee, President cancels Davos trip
Witnesses and officials reported that severe floods in Mozambique caused by heavy rainfall forced thousands to leave their homes. Some were left stranded atop roofs while surging waters swamped settlements. Daniel Chapo, the president of Venezuela, cancelled his trip to Davos to attend a World Economic Forum and stated on social media that the "absolute priority" at this time is to save lifes.
Mozambique president cancels Davos trip due to severe floods
Mozambique President Daniel Chapo cancelled his trip to Davos for the World Economic Forum this week because of severe flooding that has?damaged the infrastructure and affected hundreds of thousands in the Southern African nation. Chapo said in a Facebook post late Sunday night that Mozambique is "going through a difficult?time" and the priority right now is to save lives.
According to a consultant, India's leading renewable state will need more coal by 2036.
According to a government report, Rajasthan will require 4,400 megawatts by 2036 in order to "meet the rising electricity demand" despite India's leading renewable energy producer adding more?"clean energy" as it retires older thermal plants. According to a letter from the Central Electricity Authority (a think-tank of the federal ministry of power)…
China's fossil fuelled power drops for the first time in 10 years as a result of renewables
China's coal-based thermal energy generation in 2025 fell for the first time in 10 years, according to government data released on Monday. Growing renewable generation?met growth of electricity demand, even though?overall consumption?hit a new record. This data is a good sign for China's decarbonisation as it sets out to reach its carbon emission peak by 2030.
China's crude and gas production, refinery throughput in 2025 will reach new heights
Government data released on Monday showed that China's crude oil production and refinery throughput will both reach new highs in 2025, with crude oil growth of 1.5% and 4.1% respectively. National Bureau of Statistics reported that the world's second-largest oil consumer will process 737.59 metric tons of crude oil in 2025. Calculations…
China may require asset sales in the Rio Tinto-Glencore merge to win them over
Rio Tinto and Glencore's proposed merger could require asset sales in order to gain regulatory approval from China, the world's largest commodity buyer. China has long-standing concerns over market concentration and resource security. Last week, the two mining giants announced that they are in early merger discussions for the second time within the last 'two' years.
Another legal defeat for Trump as US judge allows Dominion to restart offshore wind project
Federal judge cleared Dominion Energy, a U.S. energy company to resume its Virginia offshore project on Friday. This is the third legal blow this week against President Donald Trump’s anti-offshore winds agenda. Judge Jamar Walker of U.S. District Court for Eastern District of Virginia has issued a temporary injunction that allows Dominion Construction to resume construction on the $11.2billion project…
US Judge weighs Dominion's request to restart Virginia offshore Wind Project Stopped by Trump
In a lawsuit filed against the Trump administration, a federal judge will decide on Friday whether to allow Dominion Energy?to resume construction on its $11.2 billion Virginia offshore wind project. This hearing will be the third in a row this week that a federal judge will consider a challenge to an Interior Department order from December 22, filed by a developer of offshore wind.
China may require asset sales in the Rio Tinto-Glencore merge to win them over
The proposed tie-up of Rio?Tinto with Glencore may require asset sales in order to gain regulatory approval from China, the world's largest commodity buyer. China has long-standing concerns over resource security and market consolidation. Last week, the 'two mining giants' revealed that they are in early merger talks for the second year in a row.
India's clean-energy industry opposes the revocation due to delays
NEW DELHI (Jan 15) - India’s renewable energy groups objected to a proposed regulatory measure that could strip developers from interstate transmission system connectivity if they fail to sign long-term power purchasing agreements in a timely manner, according?to letters sent?to India’s power regulator. The groups said that the…
US Judge allows Equinor New York Offshore Wind Project to be restarted
The federal judge cleared Norwegian 'offshore wind developer Equinor on Thursday to resume work on the?New York Empire Wind Project, which was halted by President Donald Trump along with four other project last month. U.S. district judge Carl Nichols' ruling is the second legal blow to Trump's offshore policy this week. On Monday, a judge at the same court ruled that?Danish company Orsted?
India's clean-energy industry opposes the revocation due to delays
NEW DELHI (Jan 15) - India’s renewable energy groups objected against a proposed regulatory measure that could 'deprive developers of interstate system connectivity if they fail to sign long-term power purchase agreements in a timely manner, according to letters sent to the power regulator. The groups said that the Central Electricity…