On 16 November 2025, at the Seventh Consultative Meeting of the Heads of State of Central Asia, the presidents of the “C5,” the Central Asia republics of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, announced the Republic of Azerbaijan would join the group, now christened the “C6.” In October 2023, President Ilham Aliyev of Azerbaijan attended the Fifth Consultative Meeting of the Heads of State of Central Asia and noted, “Azerbaijan is a reliable transit country along the route to…

The recently revealed 28-point peace framework promoted by Donald Trump’s team has been presented as a pragmatic blueprint for ending the war and rebuilding Ukraine. Yet beneath the diplomatic wording sits a highly strategic energy and raw-materials design, one that risks locking Ukraine into a future defined by fossil-fuel dependency, American control over vital resources, and a European Union sidelined at precisely the moment when its leadership is most needed. This is not only a peace plan, but it is also an energy settlement disguised…

Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a field that supplies roughly 0.5% of global oil and nearly a tenth of Iraq’s output—production that Iraq cannot replace from elsewhere. This is the first visible stress fracture in West Qurna-2 since Washington’s October 22 sanctions froze Lukoil’s ability to move money across…

Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a field that supplies roughly 0.5% of global oil and nearly a tenth of Iraq’s output—production that Iraq cannot replace from elsewhere. This is the first visible stress fracture in West Qurna-2 since Washington’s October 22 sanctions froze Lukoil’s ability to move money across…

Iraq has quietly stepped in to keep one of its most important oilfields from wobbling. After two months of unpaid wages at Lukoil’s West Qurna-2, Baghdad has begun paying local staff directly, advancing December salaries to prevent a slowdown at a field that supplies roughly 0.5% of global oil and nearly a tenth of Iraq’s output—production that Iraq cannot replace from elsewhere. This is the first visible stress fracture in West Qurna-2 since Washington’s October 22 sanctions froze Lukoil’s ability to move money across…

The vast global effort to electrify transport and modernize power grids is driving a surging, often overlooked demand for one critical component: the humble copper alloy connector. While attention often focuses on breakthroughs in battery technology or records in renewable energy installations, a new market analysis suggests that the foundational hardware enabling these technologies is poised for significant expansion. According to a detailed market report from Allied Market Research (AMR), the copper alloy connector market is projected to nearly…

The tiny South American nation of Guyana, once one of the continent’s poorest countries, recently emerged as a top oil producer. After a swathe of high-quality discoveries in the offshore Stabroek Block, the government in Georgetown finds itself managing one of the world's largest oil booms. In roughly a decade, Guyana went from its first oil discovery to South America’s third-largest oil producer with signs of further growth ahead. This delivered a massive economic dividend for the country of less than one million, which sees it now…

The US Export-Import Bank, an independent federal agency tasked with helping to facilitate US trade, will invest $100 billion to achieve President Trump's plan to secure US and allied supply chains for critical minerals, nuclear energy, and liquefied natural gas (LNG).  Its new chair, John Jovanovic (appointed in September) told the Financial Times that the agency would finance these efforts in order to counter western reliance on China and Russia - and that the first tranche of deals will include projects in Egypt, Pakistan and Europe, adding…

Indonesia looks to unlock its upstream potential by offering more than 100 previously untapped oil and gas basins to global investors for exploration.  Southeast Asia’s biggest economy, which is also a major oil and gas producer, aims to reverse its decade-long production decline and bolster national energy security.  Indonesia targets to nearly double its oil production to 1 million barrels per day (bpd) of crude oil. Currently, Indonesia pumps about 600,000 bpd of crude.    Indonesia has developed only 20 out of…

Oil fell 2.5% on Tuesday morning following reports that Ukraine has mostly agreed to a peace deal with the U.S. European Gas Prices Chill at Lowest Levels Since May 2024- European gas prices have fallen below the €30 per MWh threshold (the equivalent of $11 per MMbtu) as the triple whammy of Russia-Ukraine peace talks, warmer weather and ample supply lowered the TTF benchmark to its lowest since May 2024.- Following a brief cold spell that brought this winter season’s first snow, temperatures across key consumption hubs are expected…

President Trump’s tariff strategy in his second term has touched almost every corner of the economy, but few sectors have felt the effects as unevenly as oil and gas. The administration has chosen not to apply tariffs to crude oil, natural gas, or refined fuel imports—yet upstream, midstream, and refining companies are still dealing with higher costs from steel, aluminum, and other essential materials. The disconnect means that the feedstock remains tariff-free, while the infrastructure needed to produce and process it is becoming more…

The future of Russia’s international oil and gas giant Lukoil’s assets remains shrouded in fog. However, it is clear that the forced dismantling of Lukoil’s empire, which is triggered by US sanctions, could be one of the most consequential energy auctions of the post-Cold War era. It is no longer merely a compliance-driven divestment; it has now been pivoted into a geopolitical contest. The latter is not only by Western majors and private equity companies, but also by Gulf sovereign investment machines, all vying for key pieces…

Oil prices extended losses early on Tuesday after news broke that Ukraine has mostly agreed to a peace deal, with “minor details” to discuss and settle.  As of 8:35a.m. ET on Tuesday, the U.S. benchmark crude futures, WTI Crude, dropped by 1.29% to further slip below $60 per barrel, at $58.08. The international benchmark, Brent Crude, was trading down by 1.23% at $62.59.  Prices reacted to reports early on Tuesday that the U.S. plan for peace in Ukraine has received support from Ukrainians. The development added to persistent…

Shell is boosting its cooperation with Ferrari by signing a ten-year corporate power purchase agreement (CPPA) to supply renewable energy from a Shell-built and operated plant to the iconic Italian luxury carmaker.  Shell Energy Italia will provide 650 gigawatt-hours (GWh) over ten years to help decarbonize production at Ferrari’s Maranello factory in Italy. The power supplied by Shell’s Italian unit will be sufficient to cover half of Maranello’s energy needs.  Additionally, Shell Energy Italia will also provide renewable…

Shell is boosting its cooperation with Ferrari by signing a ten-year corporate power purchase agreement (CPPA) to supply renewable energy from a Shell-built and operated plant to the iconic Italian luxury carmaker.  Shell Energy Italia will provide 650 gigawatt-hours (GWh) over ten years to help decarbonize production at Ferrari’s Maranello factory in Italy. The power supplied by Shell’s Italian unit will be sufficient to cover half of Maranello’s energy needs.  Additionally, Shell Energy Italia will also provide renewable…

Some Indian banks have started to consider financing Russian oil trades that involve only non-sanctioned entities and sanctions-compliant pricing and payments, Bloomberg reported on Tuesday, citing sources with knowledge of the development.    India is steering clear of Russian oil now as the U.S. sanctions on Russia’s top producers and exporters, Rosneft and Lukoil, make Indian refiners wary of handling Russian barrels.  Before the latest sanctions on Russian oil trade, India bought from Russia around one third of all…

Some Indian banks have started to consider financing Russian oil trades that involve only non-sanctioned entities and sanctions-compliant pricing and payments, Bloomberg reported on Tuesday, citing sources with knowledge of the development.    India is steering clear of Russian oil now as the U.S. sanctions on Russia’s top producers and exporters, Rosneft and Lukoil, make Indian refiners wary of handling Russian barrels.  Before the latest sanctions on Russian oil trade, India bought from Russia around one third of all…

Slowing imports from China have pushed the volumes of Iranian oil held in tankers at sea to the highest level in two and a half years.  The volume of Iran’s crude in floating storage has jumped in recent weeks and widened the discount of Iranian grades to international benchmarks.  As many as 52 million barrels of Iranian oil is stashed on tankers at present, nearly double compared to October, according to data from energy flows intelligence firm Kpler cited by Bloomberg.  In comparison, early this year the volumes of Iranian…

Slowing imports from China have pushed the volumes of Iranian oil held in tankers at sea to the highest level in two and a half years.  The volume of Iran’s crude in floating storage has jumped in recent weeks and widened the discount of Iranian grades to international benchmarks.  As many as 52 million barrels of Iranian oil is stashed on tankers at present, nearly double compared to October, according to data from energy flows intelligence firm Kpler cited by Bloomberg.  In comparison, early this year the volumes of Iranian…

ADNOC has unveiled a sweeping $150 billion investment plan for 2026–2030, marking one of the largest investment cycles in its history and reinforcing the UAE’s long-term commitment to oil, gas, and industrial expansion. The announcement, approved at the board meeting chaired by Sheikh Mohamed bin Zayed Al Nahyan, coincided with increases in the UAE’s hydrocarbon reserves and marks a further pivot to downstream and international expansion. Over five years, the $150 billion will be deployed across upstream capacity maintenance,…