China has launched its first faulted basin shale oil demonstration zone in Shandong, with the Shengli Jiyang project achieving over 700,000 tonnes of output in 2025 and holding 327 million tonnes in proven reserves.
Indonesia has begun construction of the $15 billion Makassar Strait North Hub, a national strategic project designed to unlock ultra-deepwater gas reserves and boost energy sector growth.
European Union (EU) renewable energy use rose to 26.2 per cent of gross final energy consumption in 2025, Eurostat data showed, continuing long-term growth but remaining below the bloc’s 2030 target of 42.5 per cent.
South Korea will extend fuel tax cuts until September 30 amid Middle East tensions and energy cost concerns. Reductions of 15 per cent on gasoline and 25 per cent on diesel and butane will remain in place.
Wood and Elementz have strengthened their long-standing collaboration to deliver global subsea integrity management solutions, combining Elementz’s digital inspection platform, Integrity Elementz, with Wood’s subsea engineering expertise and inspection capabilities.
Energy services provider Expro has completed its acquisition of Norway-based Enhanced Drilling for approximately NOK2 billion ($209 million) in cash, strengthening its capabilities in managed pressure drilling (MPD) and riserless mud recovery (RMR).
Egypt’s crude oil production has reached a near two-year high as petroleum exports topped 2.3 million tonnes in H1 2026, generating $2.3 billion. The government is also advancing $4.5 billion in refinery projects to boost output and exports.
Air defence systems in Saudi Arabia intercepted two ballistic missiles from Yemen on Saturday targeting oil refineries in Yanbu, Greek security sources a day after US forces launched fresh air strikes on Iran, said media reports. The defence system was operated by Greek military personnel.
BP is in advanced talks to sell its solar business, Lightsource, to a consortium backed by Kuwait Investment Authority, and Qualitas Energy, a private equity firm focused on green energy, as the energy major sharpens its focus on oil and gas to bolster returns, said a report.
Kuwait Oil Company has announced that it has signed a $16 billion lease-and-lease-back agreement involving its entire domestic and export pipeline network with a consortium of international infrastructure and institutional investors led collectively by Blackstone, Brookfield and KKR.
