energy

Saturday April 11, 2026 Mogadishu (AX) — Somalia and Türkiye took a major step Friday toward the country’s first offshore deep-water oil drilling project, as President Hassan Sheikh Mohamud met with Turkish Energy and Natural Resources Minister Alparslan Bayraktar in Mogadishu. The talks centered on deepening the two countries’ strategic ties, with energy, natural resources and the blue economy high on the agenda. President Mohamud said the partnership had entered what he called a historic phase, underscoring the arrival of…

The escalating conflict in the Middle East is prompting a significant shift in oil procurement strategies among European and Asian buyers, who are increasingly turning to African oil-producing nations. These countries not only offer lower insurance costs but also promise more consistent delivery timelines compared to the high-risk regions of the Middle East. According to industry analysts, leading African energy players—namely Nigeria, Libya, Angola, Gabon, Mozambique, Namibia, and Tanzania—are being regarded as safer…

By Omar M. ElmiWednesday April 1, 2026 A war far from Ethiopia’s borders is already sending tremors through the country’s economy. The fighting in the Middle East is inflicting heavy human and material losses, but its reach is extending well beyond the battlefield, with disruptions that could hit trade, fuel supplies and food production in countries thousands of kilometers away. Ethiopia, landlocked and home to more than 120 million people, sits squarely in that danger zone. The risk is rooted in a basic structural…

The energy shock triggered by the US-Israeli war on Iran is “probably the worst ever”, Taoiseach Micheál Martin has said, warning that the fallout could outstrip even the supply crisis of the 1970s. Iran shut the Strait of Hormuz after the United States and Israel launched attacks on the country on 28 February. Mr Martin made the remarks after talks with Finnish Prime Minister Petteri Orpo in Helsinki, before heading to Warsaw for a meeting with Polish Prime Minister Donald Tusk. The discussions are part of a wider round of…

With the war’s economic shockwaves still rippling through energy markets, Ukrainian President Volodymyr Zelensky has called on Russia to agree to a reciprocal pause in strikes on energy infrastructure, arguing that such a move could help calm pressure on global oil prices. Mr Zelensky told reporters that Kyiv was prepared to mirror any such step if Moscow stopped targeting Ukraine’s energy network. "If Russia is ready to stop hitting Ukrainian energy facilities, we will not respond against their energy sector," he said. He…

Katya AdlerEurope EditorThursday March 19, 2026 Turbulence in the Middle East has sent a fresh shudder through Europe’s energy system, stirring memories of past shocks that rattled the European Union. Seven months after Russia launched its full-scale invasion of Ukraine in February 2022, the President of the European Commission rose in the European Parliament to charge Moscow with distorting the EU’s energy market. "They prefer to flare the gas than to deliver it," proclaimed Ursula von der Leyen, as spiralling energy…

European Union energy ministers will meet today to weigh options for curbing energy costs, as Brussels drafts emergency plans to blunt the impact of surging oil and gas prices triggered by the Iran war and the closure of the Strait of Hormuz. The European Commission is preparing a package to shield households and businesses from soaring bills, according to EU officials familiar with the talks. Measures under consideration include targeted state support for energy-intensive industries, temporary cuts to national taxes and…

G7 weighs release of strategic oil reserves as IEA signals no immediate action G7 finance ministers are expected to discuss a possible coordinated release of strategic oil reserves as the war in the Middle East rattles energy markets, a French government source said today. The International Energy Agency, which coordinates emergency actions among major importers, said there is “plenty of oil in the market” and no collective action is planned for now, even as it keeps “all options” open. The debate comes as U.S. benchmark…

Somalia, U.S. open high-level trade talks in Mogadishu, eye energy and critical minerals amid rising offshore interest Wednesday March 4, 2026 Mogadishu (AX) — Somalia and the United States held high-level talks in the capital on Tuesday to expand bilateral trade and investment, with a sharp focus on energy and critical minerals, officials said. The meeting — formally convened inside Somalia for the first time — was cast by both sides as a marker of growing confidence in the country’s security and economic trajectory. The…

Russia launched one of its largest recent aerial barrages against Ukraine overnight, firing waves of drones and missiles at power plants, substations and rail lines across multiple regions, injuring dozens and setting off fires, officials said. President Volodymyr Zelensky said Russia sent 420 attack drones and 39 missiles — including 11 ballistic missiles — in a coordinated strike aimed at the country’s energy sector and other critical infrastructure. “Last night, Russia once again waged war on critical infrastructure and…