Global crude oil markets are once again on edge as prices decisively surged past the $100 per barrel mark following the sudden collapse of a critical ceasefire agreement. The Petroleum Hub Development Corporation (PHDC) notes that this sharp uptick is driven primarily by the renewed threat of closure for the Strait of Hormuz, the world’s...
Category: International
Post
Post
Iran’s military says Strait of Hormuz will be ‘completely closed’ if US bombs power plants
Iran’s armed forces headquarters has declared it is ready to close the Strait of Hormuz indefinitely if US President Donald Trump carries out a threat to bomb Iran’s power plants. Its statement Sunday is the latest warning from Tehran of retribution for any attacks on the country’s power industry. Trump said Saturday he would order...
Post
Why the Trump administration is easing sanctions on certain Iranian oil stockpiles.
Trump administration officials are making a desperate push to secure every available barrel of oil amid a worsening energy crisis — even if it means lifting sanctions on the very country that they’re fighting against. But three weeks into war with Iran, the administration is running out of options to contain the skyrocketing price of...
Post
Crude oil price to average $70 per barrel in 2026 if… – Fitch
Ratings agency, Fitch is raising its 2026 annual average crude oil price forecast to US$70 a barrel from US$63 (Brent). According to the UK-based firm, it assumes that the Strait of Hormuz remains effectively closed for about a month. However, it anticipates oil prices falling to the mid-US$60s by the second-half of 2026. “We raised...
Post
SPE International Board Engages JOGMEC, Reviews Strategy at Q1 2026 Meeting in Japan
The Society of Petroleum Engineers (SPE) International Board has paid a courtesy call on the Japan Organization for Metals and Energy Security (JOGMEC) during its first-quarter 2026 Board meeting held in Japan. During the visit, JOGMEC, a major institution in Japan’s energy sector, delivered a high-level briefing to the Board on its mandate, operations and...
Post
World Gold Council and Commodity Monitor Ltd hold discussions on ASGM Formalisation & Sustainable Mercury-Free Gold Processing Technologies
Artisanal and Small-Scale Gold Mining (ASGM) remains one of the most complex yet vital segments of the global gold industry supporting millions of livelihoods and contributing significantly to national economies, especially in gold-rich countries like Ghana. Yet the sector has long grappled with informal practices, environmental degradation, illicit trading activities and health hazards most notably...
Post
Venezuelan Crude Reallocation Faces Complex Sanctions Risks, Not Simple Market Shift – Energy Chamber Ghana
The global crude oil market is expected to undergo a more nuanced adjustment to Venezuelan oil supply in early 2026 than is commonly assumed, according to the Executive Chairman of the Energy Chamber Ghana, Joshua Batsa Narh.Mr. Narh, who is also a Director at the Wingfield Group, said assumptions Venezuelan Crude Reallocation Faces 6Complex Sanctions...
Post
Beyond Sovereignty: Assessing the United States’ Invasion of Venezuela Through the ICC Office of the Prosecutor’s Policy on Addressing Environmental Damage
In the early hours of January 3, 2026, the President of the United States, Donald Trump announced a “successful” military incursion into Venezuela and the capture of its sitting president, Nicolás Maduro. The announcement summarily provoked widespread condemnation and legal scrutiny, with international law experts and other well-meaning members of the global community pointing to...
Post
National Energy Champions Confirm Participation at Libya Energy & Economic Summit 2026
State-backed energy champions TPAO, MOL Plc. and ORLEN Group will speak at LEES 2026 as Libya accelerates upstream investment and licensing TRIPOLI, Libya, December 29, 2025/ — Senior executives from state-backed and nationally anchored energy companies will participate at the Libya Energy & Economic Summit (LEES) 2026, highlighting the growing role of national energy champions...
Post
Cybele Energy targets seismic studies, exploration after securing Guyana Oil Block
Cybele Energy Limited says its immediate focus following the award of a Petroleum Sharing Agreement (PSA) for an oil block in Guyana will be the assessment and interpretation of existing seismic data, as it prepares to advance exploration activities on the block.The company is set to commence work on its shallow-water offshore Block S7, marking...