Russia’s exports of high-Sulphur fuel oil to Asian markets have weakened sharply at the start of 2026 amid tighter Western sanctions and disruptions in refinery operations, raising concerns about future supply and market balance. Shipping data show that volumes are on track to fall for a third consecutive month, reflecting heightened scrutiny, longer transit routes, and declining refinery output in Russia—a key supplier for Asia’s energy and industrial sectors.
Panoro Energy, the Africa-focused exploration and production company, recorded its highest-ever production levels in 2025, marking a significant operational milestone.
The Philippines has announced its first natural gas discovery in more than ten years, marking a major boost for the country’s energy security as it works to reduce reliance on coal and imported fuels. The find, located near the existing Malampaya gas field offshore Palawan, could extend the life of the country’s only indigenous gas source and support growing electricity demand.
New 3D seismic data indicates that Tanzania’s Ruvuma basin may hold nearly twice as much gas as previously thought, boosting confidence in future discoveries. Planned exploration and testing in 2026 aim to confirm commercial viability, supporting long-term energy and industrial plans in the region.
Falling global oil prices linked to the Venezuela crisis could eventually ease fuel costs in Kenya, though regulatory timing means relief may appear with a lag. Lower import costs also help support currency stability and reduce broader economic pressures.
Murban crude oil prices have dropped slightly, easing some pressure on Kenya’s upcoming fuel price review by EPRA. Current pump prices remain stable, and global oil market conditions suggest continued predictability for consumers in the near term.