In recent months, Iran's gas production has seen a significant boost, largely driven by the South Pars complex, as part of the country's efforts to meet domestic demand.
TotalEnergies has signed a 15-year agreement to supply STMicroelectronics in France with 1.5 TWh of renewable electricity from wind and solar farms, starting in 2025. This deal supports STMicroelectronics’ goal of achieving carbon neutrality in its operations by 2027 through 100% renewable energy sourcing.
Petrobras has increased its proven oil and gas reserves to 11.4 billion barrels of oil equivalent (boe) in 2024, up from 10.9 billion boe in 2023, mainly due to advancements in key offshore fields. The company emphasizes the need for continued investment in exploration and recovery to sustain future production.
Kuwait has recently signed a memorandum of understanding (MOU) with two international companies, AB Transco and its strategic partner General Electric Vernova, to construct a large-scale power plant.
Iran's oil industry is facing new challenges as it grapples with the impending pressure of US sanctions and mounting debt owed to China.
Walid Fayyad, the Lebanese caretaker Minister of Energy, has confirmed that the French energy company Total has failed to meet the terms of its agreement regarding gas exploration in Lebanon.