Indonesia has introduced a new palm oil export regulation that will centralise overseas shipments through designated state-owned enterprises from January 2027, while providing a six-month transition period for private businesses to adapt to the new framework.
Spanish energy company Repsol and Abu Dhabi-based renewable energy developer Masdar have signed an agreement under which Masdar will acquire a 49.99% stake in a renewable energy portfolio in Spain.
Japanese Prime Minister Sanae Takaichi is expected to propose a three-point framework to strengthen global energy security at G7 Summit, amid growing concerns over oil supply disruptions linked to renewed tensions in the Middle East.
Construction has started in China on a 271,000-cubic-metre LNG carrier, highlighting advances in high-end shipbuilding and energy transport. The QC-Max vessel, built by Hudong-Zhonghua Shipbuilding, a China State Shipbuilding Corporation subsidiary, is due for delivery in 2028.
Italy will spend almost €60 billion ($69 billion) this year to import energy, up €8-9 billion from 2025, the national fuel producers association UNEM said.
Global oil prices declined during Friday's trading session, reaching their lowest levels since early March. Kuwait's crude oil too fell by 6.1% to $94.84 per barrel on Friday, down from $101.04 per barrel the previous day, according to data from Kuwait Petroleum Corporation (KPC).
Qatar's International Media Office has strongly rejected the allegations published by The Washington Post on June 12 that the country's energy production decisions were ever coordinated with Iran or intended to influence regional events, said a Qatar News Agency report.
The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to continue expanding this year and the next, supported by resilient economic growth, rising mobility and increased industrial activity across major emerging economies.
Saipem has announced that its joint venture with Nasser Saeed Al Hajri has secured a key engineering, procurement and construction services contract worth €900 million ($1.03 billion) for the Uthmaniyah Gas Compression Plant in the Kingdom of Saudi Arabia. The entire work will be completed within 42 months.
2PointZero Group, a next-generation investment powerhouse focused on energy and consumer sectors, today completed the sale of its full 7.29 percent stake in Abu Dhabi National Energy Company PJSC (TAQA) to Abu Dhabi Power Corporation (Abu Dhabi Power), an indirect and wholly owned subsidiary of L'IMAD Holding Company.
