Blog
OIL PRICES EDGE UP AMID U.S. SANCTIONS ON VENEZUELA AND OPEC+ OUTPUT UNCERTAINTY.
Oil prices ticked up slightly due to renewed supply concerns after the U.S. barred Chevron from exporting crude from Venezuela, limiting Venezuelan barrels to the U.S. and increasing reliance on Middle Eastern oil. Brent rose to $64.16 and WTI to $60.98 per barrel. However, gains were capped by expectations that OPEC+ may boost output following their meeting this week, potentially contributing to an oversupplied market in the second half of the year. Market sentiment remains cautious amid poor quota compliance within OPEC and potential new U.S. sanctions on Russia, which could further disrupt global energy flows. Oil Prices Edge Up Amid U.S. Sanctions on Venezuela and OPEC+ Output Uncertainty
- 1 year
ANGOLA: NEW HOPE IN OIL AND GAS SECTOR AS BRAZIL'S PETROBRAS SIGNALS RETURN.
The Brazilian oil company Petrobras and Angolan national oil company Sonangol have signed a Memorandum of Understanding for oil and gas research and development, training, and research on relevant projects for the just energy transition.
- 1 year
SOUTH AFRICA: ESKOM TAKES BOLD STEP TOWARDS GREEN HYDROGEN FUTURE.
South Africa’s power utility company, Eskom, is considering adding green hydrogen production to its energy portfolio.
- 1 year
GERMANY STRENGTHS ENERGY SECURITY WITH LAUNCH OF THIRD LNG AT WILHELMSHAVEN.
Germany has taken a major step toward energy independence and resilience with the commissioning of its third LNG terminal, Wilhelmshaven 2, significantly enhancing the country’s ability to secure stable and diversified energy supplies. This new terminal not only reduces Germany’s reliance on single-source gas imports especially in light of shifting geopolitical dynamics but also plays a vital role in supporting Europe’s broader energy security goals and climate ambitions. By increasing regasification capacity and enabling flexible access to global LNG markets, the project strengthens Germany’s energy infrastructure while laying the groundwork for a more sustainable and self-reliant future.
- 1 year
ASIA'S LNG DEMAND SLOWS AS CHINA CUTS BACK, U.S. BECOMES KEY SUPPLIER AMID SHIFTING GLOBAL FOWS.
Asia’s liquefied natural gas (LNG) imports are showing signs of stagnation in May 2025, with demand weakened primarily by China’s reduced appetite due to high prices and an increased reliance on domestic and pipeline-supplied gas. As the world’s top LNG importer pulls back, global LNG flows are being reshaped, with the United States stepping in to capture a larger market share. This shift is not just an energy trade story it’s a signal of broader economic realignment and geopolitical maneuvering. With traditional suppliers like Australia facing supply disruptions and Middle Eastern producers being pulled toward new opportunities, Asian nations now face increasing pressure to secure long-term, cost-effective LNG deals. At the same time, the drive to import more from the U.S. intertwines energy security with diplomacy, trade leverage, and competition for limited supply. The future of Asia’s LNG market now sits at the crossroads of global pricing dynamics, strategic partnerships, and the evolving energy transition.
- 1 year
ANGOLA: OIL PLATFORM ACCIDENT IN CABINDA.
Seventeen people were injured on Tuesday following a fire outbreak on the Benguela Belize Lobito Tomboco (BBLT) deepwater platform in Block 14, located in Angola’s northern Cabinda province.
- 1 year
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