Exxon Mobil said Tuesday it signed a deal to explore a vast deepwater area offshore Trinidad and Tobago for oil and gas, and the country’s energy minister said the company could spend as much as $21.7B if it finds sufficient reserves. The search will take place off Trinidad’s east coast in a region that spans...
Category: International
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Cooking gas prices hit Nigerians hard for fifth straight month
For the fifth month in a row, Nigerian households are feeling the heat, literally and financially, as cooking gas prices climb yet again, leaving many struggling to afford what has become a basic necessity in daily life. “I used to refill my 12.5kg cylinder for about N15,000 last year. Now, it’s over N21,000,” sighed 38-year-old...
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Five countries account for 71% of the world’s nuclear generation capacity
Five countries account for more than two-thirds of the world’s total nuclear electricity generation capacity. The United States has the most capacity, followed by France, China, Russia, and South Korea, based on International Atomic Energy Agency (IAEA) data as of June 2025. Globally, 416 nuclear power reactors are operating in 31 countries, with a total installed net generating...
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Israel’s Leviathan partners seal $35-billion gas export deal with Egypt.
Middle EastLeviathan partners seal $35-billion gas export deal with Egypt$2.4-billion expansion project calls for new offshore gas transmission pipeline.Related To:NewMed EnergyAug. 11, 20252 min readCourtesy NewMed Energy$2.4-billion expansion project calls for new transmission pipeline. The partners in Israel’s Leviathan offshore gas field have signed the largest export agreement in the country’s history, worth up to...
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India buys Nigerian crude as Dangote imports US oil 11th August 2025
Reports say refineries in India are buying Nigerian crude while the country’s Dangote Petroleum Refinery is largely running on American oil. In a twist that underscores the complexities of global oil trade, India’s state refiners are snapping up Nigerian crude oil while Africa’s largest refinery, located in Nigeria, is increasingly importing crude from the United...
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Russian State Atomic Energy Corporation ROSATOM Delivers Main Power Equipment to Seversk
The rotor of the steam turbine and the stator of the generator set for the innovative BREST-OD-300 reactor power unit have been delivered to the construction site of the Generation IV Pilot Demonstration Energy Complex in the city of Seversk, Tomsk Region. The complex is being built at the Siberian Chemical Plant (part of the...
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Crude Oil and Refined Products Market Review and Outlook
Heightened geopolitical tensions and hikes in supply-risk premiums resulted in a temporary surge in crude oil prices in June by about 13%. This was largely due to the impact of the Israel–Iran conflict that resulted in the Parliament of Iran threatening the closure of the Strait of Hormuz, which accounts for about 20% of the...
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ExxonMobil eyes more merger and acquisition opportunities across all sectors
ExxonMobil is actively pursuing more mergers and acquisitions (M&A) across its business segments, with a sharp focus on value creation rather than volume. “We’re continuing to keep a really close eye on the waterfront, see where the opportunities are, do a good job of understanding what that unique value creation opportunity looks like and then...
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Guyana gasoline prices now lowest in the Caribbean region.
Guyana recorded the lowest gasoline price in the Caribbean region in July, well below the global average, according to data shared by the Energy Chamber of Trinidad and Tobago last Thursday. The Chamber’s analysis, which drew on figures from globalpetrolprices.com, shows that gasoline in Guyana retailed at approximately US$0.81 per litre in July, compared to...
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Where to find oil and gas in the Philippines: Proven reservesIncreased exploration, drilling pace
According to Statista, citing official Department of Energy (DoE) data, the island nation holds 139 million barrels of “proven” reserves, as of 2024. That’s equivalent to an estimated market value of $9.61 billion (based on mid-2025 oil market data). There could be more.The Philippines is said to be “sitting” on a gold mine of untapped...