BP divestment: Kuwait-backed consortium in race to acquire energy giant’s solar unit
Private equity firm Qualitas Energy and Wren House, the infrastructure arm of Kuwait Investment Authority, have teamed up to acquire Lightsource...
Category : Oil & Gas
Iran war: US backs Iraq-Syria pipeline revival to reduce Hormuz oil risk
The restoration of the 800km pipeline has emerged as a strategic priority after the Iran conflict exposed the vulnerability of the Gulf’s main energy corridor...
ExxonMobil announces major investments in Nigeria and Cyprus offshore projects
ExxonMobil will be returning to drilling operations in Nigeria after nearly a decade, with its last campaign in the African country conducted in 2016...
Kuwait’s oil output, trade rebound as US-Iran deal eases Gulf tensions
Kuwait's crude oil production rose sharply to 1.65 million bpd in June from May's ratio of 580,000 bpd, with the OPEC member also boosting its exports...
Boost for Iranian oil industry as US issues sweeping rollback of sanctions
The 60-day waiver, known as "General License X", has permitted Iran to produce, sell and transport crude oil and energy products till August 21...
Oil plunges new low amid US-Iran “peace deal,” investors remain cautious
The global energy market has lost millions of barrels of oil and gas supply due to the Iran war, as Middle East's energy facilities came under attack...
Ahead of IPO, Dangote refinery hits another production milestone
The refinery, owned by Nigerian billionaire Aliko Dangote, ramped up crude processing to 700,000 bpd during a performance test by process licensors...
Iran war, weak yen make Japan’s crude import troublesome affair
Japan, the world's fifth-largest oil importer, got just 850,000 bpd of crude oil in April, against the established capacity of over 2.3 million bpd...
UAE accelerates West-East Pipeline project to reduce Hormuz dependence
The West-East Pipeline project has been tasked with the goal of doubling the UAE's energy export capacity via the port of Fujairah by 2027...
Japan’s Eneos Holdings to buy Chevron’s 50% stake in SRC
As per Eneos, the deal, which includes Chevron's assets in Vietnam, Australia, the Philippines and Malaysia, is expected to close in 2027...