A fresh sanctions waiver from President Donald Trump’s administration will allow the sale of Russian oil and petroleum products already at sea for another month, the latest sign that Washington is trying to contain a sharp rise in energy costs. The Treasury Department issued the license just two days after Treasury Secretary Scott Bessent said the United States would not extend the waiver. Under the new measure, buyers may purchase oil and petroleum products loaded onto any vessel as of Friday, up to 12.01 am (5.01am) on 16…

A late-night fire at Viva Energy Group's Geelong refinery in southern Australia has triggered an emergency response, with local authorities describing the incident as "significant" as crews work to bring the blaze under control. The full scale of the damage was not immediately known. Fire Rescue Victoria said in a statement that the fire was reported at about 11 p.m. local time today. The agency said the blaze was still not under control, but confirmed that all staff had been accounted for. Emergency crews were sent to the…

By: Abdiwali Sayid Tuesday April 14, 2026 Türkiye’s move to drill for offshore oil in Somalia could mark a turning point with consequences far beyond the energy sector. If the project succeeds, it may help redefine Somalia’s fiscal outlook, sharpen its strategic importance, and alter the way regional and international powers engage with Mogadishu. In the best case, it could move Somalia from chronic fragility toward greater leverage in a fast-changing geopolitical arena. But that outcome is far from assured. Whether the…

A fresh US military move at Iran’s ports is set to squeeze global oil supplies, threatening to keep roughly two million barrels a day of Iranian crude off the market and raising the stakes for energy traders already on edge. Below is a closer look at the blockade and what it could mean for oil flows worldwide. What was announced? After weekend peace talks in Islamabad between negotiators from the US and Iran ended without an agreement, President Donald Trump said the US Navy “will begin the process of BLOCKADING any and all…

By: Prof. Abdinasir Ali OsmanTuesday April 14, 2026 A Condensed Investigative and Forward-Looking Policy Analysis of Curad-1 and Somalia’s Offshore Future Somalia’s offshore oil frontier has quickly become one of the Horn of Africa’s most closely watched energy stories. In a region where maritime security, foreign investment, and state-building often collide, the Curad-1 drilling program has pushed Somalia from theory into action. This condensed investigative analysis draws on international reporting, institutional…

With a key Russian oil route still crippled by wartime strikes, Volodymyr Zelensky said Ukraine expects to restore enough of the damaged pipeline to resume operations to Hungary and Slovakia before April is out. "As for the oil pipeline, as we promised, it will be repaired by the end of April - not completely, but enough for it to function," Mr Zelensky told reporters in Berlin. The pipeline’s condition had become a flashpoint in Mr Zelensky’s fraught relationship with Hungary's outgoing Prime Minister Viktor Orban, as the…

Diezani Alison-Madueke, the former Nigerian petroleum minister, has made headlines as she stands trial in London, vehemently denying allegations of bribery and luxury accommodations linked to government contracts. Accused of enjoying opulent stays and extravagant spending sprees in the UK, she asserts that these claims are baseless. In her testimony to the jury, Alison-Madueke maintained her innocence, stating she never misused her position to solicit or accept bribes, despite facing six serious charges under the UK Bribery…

Monday April 13, 2026 A ship at the Strait of Hormuz Oil markets surged back above $100 a barrel on Monday as trading resumed in Asia, after US-Iran talks collapsed without a fresh agreement and President Donald Trump said he would blockade Iranian ports. Brent crude, the global benchmark, climbed 7.3% to $102.30 (£76.32), while US West Texas Intermediate rose 8.7% to $104.94. The breakdown in weekend negotiations has deepened fears that the worldwide energy crunch could worsen. Crude had fallen sharply below $100 last…

MOGADISHU, April 13, 2026 — Somalia’s Prime Minister Hamza Abdi Barre on Monday issued a stark warning that the country’s natural wealth, including its prospective oil reserves, could be vulnerable to outside pressure unless Somalia develops a military strong enough to protect it. Barre, speaking in the context of shifting global power and rising rivalry over strategic resources, said the erosion of confidence in international institutions and the weakening of the traditional rules-based order have made resource competition…

MOGADISHU, Nov 17 — Turkey said on Saturday that its offshore drilling campaign off Somalia could begin yielding oil within six to nine months, after Ankara launched its first deep-sea energy project beyond its own waters. Energy and Natural Resources Minister Alparslan Bayraktar called the start of drilling a “historic” moment in Turkey-Somalia ties, saying it opens a new chapter in efforts to tap Somalia’s offshore energy resources. At a ceremony in Mogadishu on Friday to receive the Çağrı Bey ship, Bayraktar said the…