The EU may decide in October whether to maintain or drop its proposed ban on new Arctic oil and gas exploration. The decision reflects growing concerns over energy security, geopolitical competition and the Arctic’s strategic resources.
Consumers face a double whammy of rising oil prices and Treasury yields amid the U.S. war with Iran. Higher energy costs have erased tax-refund gains, while households tap savings to sustain spending.
OEUK says moving the new Oil and Gas Revenue Levy to 2027 could raise an extra £14.9 billion for the UK government. The industry argues earlier tax reform would restore investment confidence and slow the decline of North Sea oil and gas production. OEUK warns current tax uncertainty is driving operators away, increasing the UK's dependence on oil and gas imports.
Saudi Arabia’s East-West pipeline shutdown, alongside ongoing Hormuz and Bab el-Mandeb risks, is tightening global energy supply and increasing volatility. USOIL and UKOIL remain bullish, while Natural Gas is slightly bullish as LNG supply risks intensify.
Nigeria’s upstream oil regulator has warned investors developing projects at gas-flaring sites that they could lose their permits if they fail to make sufficient progress.
Zambia’s energy sector recorded significant investment momentum in the first half of 2026, with more than 1GW of new electricity generation capacity approved during the period.