Petrobras Awards Foresea Long-Term Drillship Contract for Mero Field Offshore Brazil
Foresea secured a long‑term contract with Petrobras to operate the ultra‑deepwater drillship ODN I on the Mero field offshore Brazil, adding roughly $465 million to its order backlog. The agreement covers a 1,443‑day drilling campaign slated to begin in early 2027, with an early‑termination clause after 1,078 days and an optional 382‑day extension. The deal highlights persistent demand for high‑specification rigs in Brazil’s pre‑salt basin and bolsters Foresea’s revenue visibility. Petrobras aims to use the rig to sustain production growth from its flagship offshore assets.
Nigeria Fast-Tracks Permits to Revive Idle Oil Wells, Boost Production
Nigeria’s Upstream Petroleum Regulatory Commission has reduced idle‑well permit approvals from weeks to mere hours, aiming to boost output as crude prices hover around $100 a barrel. The fast‑track process has already cleared 500 permits in 2024, encouraging local firms...
Saudi Arabia Ramps Yanbu Exports Toward 5 MMbpd as Hormuz Disruption Forces Rerouting
Saudi Arabia is accelerating crude exports from its Yanbu Red Sea terminals, aiming for a 5 MMbpd target as the Strait of Hormuz remains effectively closed by Iran. The East‑West pipeline linking Abqaiq to Yanbu can handle 7 MMbpd, but 2 MMbpd are...
China Open to Reviving South China Sea Oil Talks, but Tells Philippines to 'Show Sincerity'
China signaled that its door remains open for joint oil and gas development in the South China Sea, but it told Manila it must first demonstrate sincerity before talks can resume. President Ferdinand Marcos Jr. linked the renewed interest to...
First Gen Bullish on 2026 Amid Geothermal Energy Push
First Gen Corp., the Philippines‑based Lopez Group utility, posted an 8% profit increase in 2025, with attributable recurring net income rising to $264 million and revenue climbing 6% to $906 million. The company now operates 1,700 MW across hydro, geothermal, solar and wind...
SM’s Geothermal Energy Arm Revs up Expansion
Philippine Geothermal Production Co. (PGPC), the geothermal arm of SM Investments, announced a P3 billion (~$54 million) funding round to explore six new steamfields across Luzon. Drilling has already started at Mt. Labo and Mt. Malinao, with projects expected to take five...
Fusion Power Plant Possible by 2045 with Massive Effort, Says Science Academy
Germany’s National Academy of Science and Engineering (Acatech) says the country could have a commercial fusion power plant by 2045 if it dramatically accelerates the program. Achieving this would demand massive investment—tens of billions of dollars—expanded training, industrial‑scale component manufacturing,...
Octopus Boss: We've Seen a 50% Rise in Solar Panel Sales Since Start of Iran War
Octopus Energy chief Greg Jackson told the BBC that solar‑panel sales have jumped 50% since the Iran‑Israel war began, with heat‑pump sales up 30% and electric‑vehicle enquiries rising over a third. The surge reflects households hedging against higher energy bills...
Blueleaf Commissions 300MWp Hybrid Power Project in India - #BeltAndRoad #Economy #Infrastructure
Blueleaf Energy has commissioned the 300‑MW‑peak Pachora Hybrid Power Project in Madhya Pradesh, marking its flagship wind‑solar development in India. Valued at 1,900 crores (approximately $230 million), the plant will generate about 600 million kilowatt‑hours per year—enough for over 550,000 households—and sells power...
Big Spinning Machines: State Seeks Partners for Syncon Rollout at Former Coal Hub
Victoria’s energy minister has launched an expression of interest for three large synchronous condensers in the Latrobe Valley, targeting the former Hazelwood coal terminal. The state already invested $480 million AUD (≈$317 million USD) in a syncon near Ararat, which is expected...
As Prices Soar, EPA Greenlights Higher Ethanol Blends in Gasoline
The EPA announced an emergency waiver allowing nationwide summer sales of E15, a gasoline blend containing up to 15% ethanol, as gas prices near $4 per gallon. The move, highlighted at CERAWeek, is framed as a relief measure for consumers...
NSW Targets Fuel Distribution to Support Miners
The New South Wales government announced a coordinated response to diesel distribution gaps that are affecting mining, agriculture and freight. Data from FuelCheck shows 187 stations lack diesel, including 78 in key mining regions, while 32 stations have no fuel...
Massive Geothermal Potential in Millungera Basin Set for Drilling Boost
Sunrise Energy Metals and U.S. tech firm I‑Pulse are investing $5 million to develop geothermal drilling in Queensland’s Millungera Basin, targeting up to an 80% project stake. The basin is estimated to hold over 611,000 PJ of thermal energy—about 600 times Australia’s...
Nikolay Grebentsov: Entrepreneur Turning Real-World Needs Into Innovation
Nikolay Grebentsov, president of Nikovit Inc., is scaling a clean‑energy venture that sells affordable heat‑pump and mini‑split systems through its EZCOOL brand. Recent accolades—including the Best Entrepreneur in HVAC award and a Small Business Breakthrough Award—coincide with a push to...
Production Cuts, Cost Pressures Cloud War-Driven Commodity Windfall
Indonesia is seeing a surge in coal and crude palm oil (CPO) prices as the US‑Israeli war on Iran pushes oil to about $100 a barrel, prompting countries to seek cheaper coal and bio‑fuel alternatives. Newcastle coal futures have climbed...
Why Australia Lets Energy Companies Pay Less Tax than Many People Expect
Australia’s tax framework allows gas exporters to retain a larger share of profits than most citizens expect. The system, crafted by the federal government, offers low corporate tax rates, generous depreciation allowances, and limited resource royalties. Critics argue the regime...
Snowy 2.0 Budget to Be Exhausted in Coming Months, Ratings Agency Says, as Gas Plant Hit by New Delays
Snowy Hydro’s flagship Snowy 2.0 pumped‑hydro scheme, a 2,200 MW storage project, is projected to breach its $12 bn AUD (≈$7.9 bn USD) capex by fiscal 2026, with the work only 70% complete. The federal government has already supplied $5.98 bn AUD (≈$3.9 bn USD) in...
The Oil Price Shock Could Make Italian Ice More Expensive
The U.S.-led war in Iran has sent oil prices soaring, pushing gasoline costs for a heavy‑duty pickup in Houston from about $70 to $90 per tank. Phrostibe Italian Ice, a family‑run mobile vendor, is feeling the squeeze, redesigning delivery routes,...
Recent Geo Political Events Have an Impact on Food and Gas Prices
Economists note February CPI showed modest food price shifts—beef remains high while chicken and eggs fell. A new conflict with Iran has driven Texas gasoline up 90 cents, a 38% jump, foreshadowing higher March CPI. The war threatens the Strait...
Ministers Must ‘Trade More’ in Face of Iran War
British Chambers of Commerce chief Shevaun Haviland will urge UK ministers to keep an energy‑bailout option on the table as the Iran‑Israel conflict drives oil prices higher, warning that disrupted shipping lanes will lift business energy costs. She stresses calm,...
Asia Is Getting Crushed Between Oil Prices and the Dollar
Asian economies from India to South Korea are feeling a double squeeze as oil prices spike and the U.S. dollar reaches its strongest level against regional currencies in two decades. The war in the Middle East has choked the Strait...
How Much Will America’s Oilmen Benefit From the Iran War?
At CERA Week in Houston, Energy Secretary Jennifer Granholm told U.S. oil executives that the ongoing Iran‑Israel conflict is likely to keep crude prices elevated, creating a favorable market for American shale producers. The war has already pushed Brent above $90...
Cairn Looks to Hire Americans to Build India’s Shale Sector
Cairn Oil & Gas, the Vedanta‑controlled unit, aims to quadruple its daily output to roughly one million barrels per day over the next decade. To achieve this, the company plans to spend up to $5 billion on U.S. oilfield contractors who...
Oil Instability Calls for Diversified Natural Resource ETFs
Oil markets have been jolted by the 2026 Iran war, with prices swinging sharply on each new development. The volatility makes pure‑play energy exposure risky for investors and advisors. FlexShares Morningstar Global Upstream Natural Resources ETF (GUNR) offers a diversified...
Germany to Tender Extra 12GW of Onshore Wind
Germany announced an extra 12 GW of on‑shore wind capacity to be tendered under its Climate Action Programme 2026, roughly 2,000 new turbines. The addition is projected to replace the output of 15–20 gas‑fired plants, cut natural‑gas imports by about $1 billion annually...
Bactery Named to Fast Company’s List of Most Innovative Companies of 2026
Bactery, a UK‑based spin‑out, was named to Fast Company’s Most Innovative Companies of 2026 for its soil‑powered microbial fuel cell that replaces disposable batteries in precision‑ag sensors. A single unit harvests electrons from bacteria breaking down organic matter, delivering the...
Oil Price Spikes Are Driving a Surge of Interest in Electric Vehicles
The U.S. military strike on Iran triggered a sharp rise in global oil prices, prompting a 278% surge in Australian Google searches for electric vehicles on March 23 versus late February. Historical patterns show that higher fuel costs consistently boost EV...
Futures Settle: Natural Gas Prices Gain as War Risks Offset Mildest March in 14 Years
Natural gas futures rose on Wednesday after earlier declines, driven by heightened geopolitical risk following Tehran's rejection of a U.S. peace proposal. The market also absorbed bullish signals from rising LNG feed‑gas demand and expectations of tighter storage balances. Despite...
No Escape From the Energy Shock for UK Business. A Long-Term Strategy Is Still Essential | Nils Pratley
UK businesses are confronting an energy price shock, with the nation already holding the highest industrial electricity rates among G7 nations. Cornwall Insight forecasts electricity could jump 10‑30 % and gas 25‑80 %, pushing a typical 12‑month electricity contract to about £578,000...
Bunker Fuel Shortages in Asia at Tipping Point as War Disruption Continues
Asian ocean carriers are currently managing bunker fuel supplies, but tightening inventories signal a looming shortage if the Strait of Hormuz remains blocked. Global fuel suppliers warn that prolonged closure could trigger worldwide deficits. To cushion the impact, operators are...
Nuclear Supply Chain Ramping Up to Meet Global Capacity Projections
The nuclear industry is shifting from a maintenance‑focused model to a growth trajectory, aiming for roughly 1,600 GWe of capacity by 2050. Current fuel‑chain infrastructure only supports the existing 400‑plus reactors, creating a sizable supply‑chain gap. Government incentives and geopolitical pressures...
India Sets Achievable Green Electricity and Emissions Intensity Targets
India has officially approved its next climate NDC, setting a 47% reduction in greenhouse‑gas emissions intensity by 2035 relative to 2005 levels. The plan also targets non‑fossil electricity capacity of 60% and a carbon‑sink increase of up to 4 billion tonnes...
Italian Looks to Receive LNG From Algeria, Strengthen Energy Cooperation
Italian Prime Minister Giorgia Meloni announced plans to deepen energy cooperation with Algeria during a visit to Algiers, aiming to increase LNG supplies to Italy. The move comes as Italy grapples with prolonged disruptions in Qatar LNG deliveries, which previously...
Zelestra Secures $600 Million Green Financing to Build Solar Projects Backed by PPAs with Meta
Madrid‑based renewable developer Zelestra secured a $600 million green financing facility from Société Générale and HSBC. The loan will fund two Texas solar projects—252 MW Echols Grove and 187 MW Cedar Range—currently under construction. Both farms belong to a 1.2 GW portfolio of projects...
PA House Lawmakers Approve Data Center Regulation Bill
The Pennsylvania House approved House Bill 1834 by a 104‑95 vote, directing the state Public Utility Commission to create temporary and permanent regulations for commercial data centers. The bill blocks utilities from passing data‑center‑related infrastructure and grid costs onto residential...
Umoe Starts Large-Scale Type 4 Cylinder Production in China, First Global H2 Project Deliveries
Umoe Advanced Composites has launched industrial‑scale production of Type 4 composite cylinders at its new 12,000‑sqm Jiaxing plant in China, the company’s largest global manufacturing base. The facility can produce up to 20,000 cylinders a year, effectively tripling UAC’s worldwide capacity...
SC Upholds States’ Right to Change Industrial Policy in a 25-Year-Old Dispute
The Supreme Court upheld Maharashtra’s right to withdraw electricity duty exemptions for captive power plants, overturning a 2009 Bombay High Court decision. The court validated state notifications from April 2000 and April 2001 but delayed implementation for one year to give firms...
London Bans Mingyang Turbines From UK Waters
The UK government has officially barred Chinese turbine maker Mingyang from supplying equipment to offshore wind projects in British waters, citing national‑security concerns. The decision follows industry requests for a clear stance after Mingyang was linked to a 560 MW floating...
Iran War Could Boost Fossil Fuel Phase-Out Push, Says Colombian Minister
The Iran‑Israel war has disrupted roughly a fifth of global gas flowing through the Strait of Hormuz, driving oil and gas prices higher and reviving calls for renewable investment. Colombian Environment Minister Irene Vélez Torres says the crisis creates a...
Opinion: Global Instability Could Speed the Shift to Green Jet Fuels
Geopolitical turmoil in the Middle East has driven jet‑fuel prices to record highs, forcing airlines such as Wizz Air to project roughly $55 million in losses. The shock underscores aviation’s exposure to fossil‑fuel volatility and accelerates interest in sustainable alternatives. Emerging technologies...
India’s Green Hydrogen Capacity Reaches 8,000 Tonnes per Annum Till February 2026: MoS Naik
India has commissioned roughly 8,000 tonnes per annum of green hydrogen capacity under the National Green Hydrogen Mission as of February 2026. The government targets 5 million tonnes annually by 2030, positioning the country as a global export hub. About ₹700 crore...
Iran War Threatens to Delay Large Offshore Wind Projects in EU and UK
The ongoing Iran‑Israel conflict has effectively closed the Strait of Hormuz, threatening to trap offshore‑wind components fabricated in the United Arab Emirates. Projects in the UK’s Norfolk waters and several German‑Netherlands North Sea farms, each slated to power millions of...
Next Generation Platform for Flexibility
Elexon is developing a new digital platform to centralise Britain’s emerging flexibility markets, aligning with the Flexibility Market Rules introduced last year. The system will replace fragmented processes with a single, authoritative hub where providers, system operators and other participants...
Russian Baltic Port Halts Crude Loading as Drones Cause Fire
Ukraine launched a massive drone strike on Russia’s Ust‑Luga Baltic port, igniting storage tanks at Novatek’s oil‑product facilities and forcing a halt to crude loadings of roughly 450,000 barrels per day. Russian defenses intercepted 389 drones, the highest number recorded...
Global Petrol Prices: Here's a Look at How Much Fuel Cost Has Changed Due to the West Asia War
The West Asia war that began on 29 February 2026 has pushed global petrol prices to an average of $1.41 per litre, with the United States seeing a 30.2% jump to $1.13/L. Australia leads the surge at 42% higher, while Sri Lanka’s...
LCCC Signs over 200 AR7 CfD Contracts
Low Carbon Contracts Company (LCCC) has signed more than 200 Contracts for Difference (CfDs) in Allocation Round 7 and 7a, covering roughly 14 GW of new renewable capacity. The portfolio includes 8.2 GW of fixed‑bottom offshore wind, 4.9 GW of solar and 1.3 GW of onshore...
Drill India Drill: Iran War Triggers India's Boldest Hunt for Oil
India is fast‑tracking energy self‑reliance after the Iran war, highlighted by ONGC’s $20 billion deepwater drilling tender that demands rigs within 80 days. The initiative is part of Mission Samudra Manthan, which aims to lift exploratory wells from 30 to 100 per...
Trump Fails To Stop CVOW, The Biggest Offshore Wind Farm In The US
After 13 years of development, the 2.6‑gigawatt Coastal Virginia Offshore Wind (CVOW) project began feeding electricity into the U.S. grid, representing a $11.5 billion investment and the nation’s largest offshore wind farm. The project overcame a Trump‑issued stop‑work order that added...
Baker Hughes to Supply Tech for Offshore LNG Project in Texas
Baker Hughes secured a contract to supply gas compression and power generation equipment for ST LNG’s proposed offshore liquefied natural gas export terminal off Matagorda, Texas. The agreement includes two LM6000PF turbine‑driven centrifugal compressor trains and three NovaLT16 turbine generator packages,...