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IRAQ SIGNS CONTRACT TO DRILL FIRST EXPLORATORY WELL AS PART OF PROGRAM TO INCREASE OIL AND GAS RESERVES.
Iraq continues to advance its strategic efforts to maximize its oil and gas reserves through a newly launched program that targets the drilling of 15 exploratory wells.
- 12 months
ZAMBIA: ENERGY MINISTER LAUNCHES NEAT PROJECT TO EXPAND RURAL ELECTRIFICATION BY 20230.
Zambian Minister for Energy Makozo Chikote launched the National Energy Advancement Transformation (NEAT) project in Itezhi Tezhi District, reaffirming the government’s commitment to accelerating access to reliable and sustainable energy in rural communities.
- 12 months
PETRONAS POWERS AHEAD: MALAYSIA DEEPENS LNG TIES WITH CHINA AMID SOARING DEMAND.
As China's appetite for liquefied natural gas (LNG) surges to record levels, Malaysia's energy giant Petronas is stepping up with bold expansions both at home and abroad. From new gas fields and floating LNG plants to green-powered complexes and cross-border shipping innovations, Petronas is building a future-proof LNG ecosystem. The company’s strategic push not only solidifies its standing as China’s trusted supplier but also enhances Malaysia’s role in Asia-Pacific’s evolving energy map. With energy security and decarbonization at the forefront, Petronas is aligning commercial agility with long-term geopolitical and economic goals.
- 12 months
OIL PRICES SURGE AS OPEC+ HOLDS STEADY ON OUTPUT, CALMS MARKET FEARS.
Oil prices rallied sharply after OPEC+ confirmed it would maintain a steady production increase in July, matching the hikes of the previous two months. The market had braced for a potential larger hike that could have driven prices lower, but the decision to hold steady was seen as a reassuring sign of the group's strategy to manage supply carefully while punishing quota violators. As global demand remains robust especially heading into the U.S. summer driving season tight fuel inventories, slower U.S. drilling, and geopolitical discipline from major producers are combining to support a bullish outlook in the oil market. The OPEC+ move, coupled with low U.S. rig counts and expectations of a strong hurricane season, underscores the fragility of global oil supplies and the importance of coordinated production decisions.
- 12 months
GREECE POWERS EUROPE'S ENERGY FUTURE WITH VERTICAL GAS CORRIDOR.
Europe’s energy map is undergoing a historic transformation and Greece is at the center of it. With the signing of a major agreement last week, the Vertical Gas Corridor is now officially underway, promising to transfer up to 25 billion cubic meters of natural gas annually from Greece to Central and Eastern Europe. This landmark initiative not only enhances Greece’s strategic status as a regional energy hub but also strengthens the continent’s independence from Russian gas, a critical objective as the Ukraine transit agreement nears expiration. The corridor, stretching north from Greece through Bulgaria and onward to Romania, Hungary, Slovakia, and even east to Moldova and Ukraine, represents a major shift in energy diplomacy, security, and infrastructure planning. Powered by Greek LNG terminals such as Revithoussa and the Alexandroupolis FSRU, the project aims to diversify gas sources bringing in U.S. LNG, Azeri gas, and potentially East Mediterranean supplies while reducing single-source dependence. Despite challenges like high transit fees in some countries, strong regional cooperation and long-term vision have kept momentum high. What's more, the infrastructure is being built with the future in mind: it will eventually accommodate renewable gases and hydrogen, aligning with the EU’s green energy goals. The Vertical Gas Corridor is not just a pipeline it's a symbol of energy resilience, strategic foresight, and regional unity in the face of geopolitical uncertainty.
- 12 months
LIQUIDATED SWALA OIL & GAS CLAIMS $167 MILLION FROM ORCA GROUP.
Swala Oil & Gas, now under liquidation, has filed a $167 million lawsuit against the Orca Group for breach of contract and fraud. The claim alleges that Orca misused funds and assets, causing significant financial losses to Swala.
- 1 year
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