oil

Russian President Vladimir Putin’s pledge to maintain “uninterrupted shipments” of fuel to India crystallized the central dilemma at the heart of his state visit to New Delhi: energy security versus geopolitical cost. At a summit dominated by energy, defence and trade, President Putin and Prime Minister Narendra Modi sought to translate decades-old ties into concrete guarantees even as the United States applies heavy pressure — including 50% tariffs imposed by President Donald Trump — to penalize New Delhi for continued…

Ukraine says it struck a Russian oil refinery in the Ryazan region near Moscow, a day after Russian strikes on Kyiv that left several dead. The moves come amid an unfolding corruption scandal in Ukraine’s energy sector and continued frontline incidents with power infrastructure at risk. Attack near Moscow Ukrainian forces reported hitting a refinery in Russia’s Ryazan region, saying the strike aimed to reduce Moscow’s ability to launch missile and bomb strikes. Russian officials said air defences intercepted a large number…

TotalEnergies’ $4.5 billion demand tests Mozambique’s post-conflict recovery When the French energy giant TotalEnergies pressed Mozambican authorities this month to cover U.S.$4.5 billion in “costs of closure” as a precondition for returning to its troubled northern operations, it handed a politically combustible problem to a country still wrestling with violence, displacement and fragile state finances. The demand — disclosed in a letter to the presidency and reported by Mozambican sources — bundles several company…

Oil, identity and consent: Why Ethiopia’s Somali region is pushing back There are two ways oil can arrive in a place like Ethiopia’s Somali region: with community buy-in and a clear ledger of who benefits, or with suspicion trailing the first truck. This week, as Prime Minister Abiy Ahmed told lawmakers his government is ready to begin using oil from new wells in the Somali Regional State for domestic markets, the Ogaden National Liberation Front (ONLF) chose the latter framing—warning that a vital moment for Ethiopia’s…

Libya’s offshore revival: Eni and the NOC return after a five‑year pause — but stability remains the real prize Libya’s state oil company announced this weekend that seismic surveys and geological work have resumed in several northwestern offshore blocks, marking the first time exploration operations by Italy’s Eni have been active in those waters in more than five years. The move, NOC officials said, follows technical and environmental assessments and is presented as part of a broader plan to “increase production capacity…

Somalia’s Oil Gamble: Promise, Pitfalls and a Narrowing Window In a region where new oil and gas frontiers can redraw maps and fortunes, Somalia has long carried a paradox: abundant potential beneath the ground, and little to show above it. Today, with fresh licenses signed and seismic boats in the water, the country stands at another inflection point. The question is not whether hydrocarbons lie under Somali soil and sea—the geological hints are there—but whether the politics, contracts and institutions can finally bring…

MOGADISHU, Somalia - The forthcoming oil and gas explorations in Somalia promise to transform the country's economic landscape, according to Alparslan Bayraktar, the Turkish Energy Minister. He emphasized the huge advantages awaiting Somalia once this ambitious endeavor reaches its fruition. Alparslan shared his vision for the future, predicting that numerous international corporations will jump on board, significantly invigorating Somalia's economy, which has faced formidable challenges for over thirty years. The…

Alparslan Bayraktar, Türkiye's Energy Minister, shared his thoughts on the nation’s significant oil and gas exploration ventures in Somalia. He labeled the efforts as transformative and hinted that global corporations might want to jump on board with these ventures moving forward. Recently, the Turkish research vessel, Oruç Reis, made its way to Somalia. It's geared up to conduct in-depth seismic explorations to uncover potential reserves of oil and natural gas. During the vessel's reception at the bustling Port of…

Northeastern State Refutes Allegations; Labels FGS’s Oil Exploration Accusations as "Outlandish" AXADLE, Somalia - In a war of words, Northeastern State has fiercely denied any opposition to Somalia's oil exploration efforts, scoffing at what it calls the "preposterous and baseless accusations" from the Federal Government of Somalia (FGS). Northeastern State remains committed to the nation's stability and growth. Abdifitah Mohamed Nur, Northeastern State's minister of state and top aide in presidential affairs,…

FILE - The Federal Minister of Oil of Somalia, Abdirizak Omar Mohamed (left), and Northeastern State's Minister of State for Presidential Affairs, Abdifitah Mohamed Nur (right), stand amid a bubbling row over oil exploration rights in Northeastern State.Mogadishu (AX) — Northeastern State officials have flat-out tossed aside accusations from the Federal Minister of Oil that the area's ruling brass is throwing a wrench in federal oil plans. This kerfuffle has turned up the heat between Northeastern State and Mogadishu,…