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Category: International

Corporate News International Oil

Petrobras Agrees to Restore 335 Offshore Wells Under Safety Compliance Deal

Petrobras Signs Agreement to Bring 335 Offshore Wells into Environmental and Safety Compliance by 2030 Brazilian state-owned oil company Petrobras has signed an agreement with Brazil’s oil regulator, the National Agency of Petroleum, Natural Gas and Biofuels (ANP), committing to bring 335 temporarily abandoned offshore wells into compliance with environmental and operational safety regulations. The agreement, announced by both parties on Tuesday, follows negotiations between Petrobras and the regulator aimed at ensuring the safe management

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Diamonds International News

Dubai Diamond Exchange and London Diamond Bourse Sign Partnership to Boost Global Diamond Trade

Dubai Diamond Exchange and London Diamond Bourse Forge Strategic Partnership to Strengthen Global Diamond Trading The Dubai Multi Commodities Centre (DMCC), the international business district that facilitates global trade through Dubai, has announced the signing of a memorandum of understanding (MoU) between the Dubai Diamond Exchange (DDE) and the London Diamond Bourse (LDB) to strengthen cooperation between the two trading centres and expand opportunities for their members. The agreement establishes a framework for closer collaboration,

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Diamonds Corporate News International

De Beers Cuts Diamond Prices Sharply as Industry Crisis Forces Market Reset

De Beers Reduces Diamond Prices in Major Shift as Weak Demand and Lab-Grown Stones Pressure Market De Beers has introduced some of its largest official diamond price reductions in years, marking a significant shift in strategy as the company responds to prolonged weakness in the global diamond market. The price cuts come during the company’s first sales cycle after reducing the number of its selected diamond buyers, known as sightholders. The move is part of

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International News Transport and Logistics

Zambia Plans TAZARA Railway Modernisation to Strengthen Trade and Logistics Network

Zambia Targets TAZARA Railway Upgrade with $1.6 Billion Rehabilitation Plan to Boost Trade and Economic Growth Zambia is advancing plans to modernise the TAZARA railway corridor, with President Hakainde Hichilema highlighting the importance of upgrading the route to support trade, transport efficiency and economic growth. Speaking at the TAZARA train station in Kapiri Mposhi, President Hichilema said the government is committed to improving the railway, which provides a strategic link between Zambia and the port

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International News Renewable Energy

Egypt Awards $560 Million Contract for Major Solar and Battery Storage Project

Egypt Awards $560 Million EPC Contract for 1GW Solar Project with Battery Storage Egypt has awarded a $560 million engineering, procurement and construction (EPC) contract for the West Minya Solar Power Project, one of the country’s largest renewable energy developments. The contract was awarded to Hassan Allam Construction and Sterling and Wilson Renewable Energy through their 50:50 joint venture. The project, located in Minya Governorate, will combine 1,000 megawatts (MW) of solar photovoltaic capacity with

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International Corporate News Gas

Dana Gas Reports Major Egypt Gas Discovery as Outstanding Payments Are Fully Settled

Dana Gas Boosts Egypt Investment Following Gas Discovery and Settlement of Receivables Dana Gas has announced strong operational and financial progress in Egypt after receiving US$21.5 million in additional payments, bringing all outstanding receivables owed by the Egyptian government to a full settlement. The company said the improved payment discipline, a more supportive fiscal framework, and closer collaboration with Egyptian authorities have strengthened its confidence to expand investment in the country. Egypt is seeking to

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International Corporate News Oil

Tower Resources Secures Regulatory Approval for PEL96 Farm-Out Deal in Namibia

Namibia Approves Tower Resources Farm-Out of Offshore PEL96 License to Prime Global Energies Tower Resources has received formal approval from Namibia’s Ministry of Industries, Mines and Energy (MIME) for the farm-out of its offshore PEL96 exploration license to Prime Global Energies Limited. The approval removes the final outstanding condition under the farm-out agreement announced in January, clearing the way for the transaction to proceed to completion. Tower Resources will now issue a completion notice to

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Corporate News International Oil

Shell Predicts Strong Long-Term Growth for Global LNG Market Despite Supply Disruptions

Shell Forecasts Global LNG Demand to Surge 65% by 2050 as Asia Drives Energy Growth Global demand for liquefied natural gas (LNG) is projected to increase by approximately 65% by 2050, with Asia expected to remain the primary driver of growth as countries transition from coal to cleaner energy sources and rising electricity consumption fuels demand. According to Shell’s 2026 LNG Outlook, global LNG demand is expected to approach 700 million tonnes annually by 2050,

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International Corporate News Gas

IRH Global Trading and Vitol Sign 20-Year LNG Sale and Purchase Agreement

IRH and Vitol Finalize 20-Year LNG Supply Deal for 1.0 mtpa to Strengthen Global Energy Security IRH Global Trading Ltd., a subsidiary of International Resources Holding (IRH), and Vitol Inc. have announced the execution of a long-term natural gas Sale and Purchase Agreement (SPA), further building on the initial announcement made on 5 November 2025. Under the terms of the agreement, Vitol will supply 1.0 million tonnes per annum (mtpa) of liquefied natural gas (LNG)

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Gas Corporate News International Oil

ADNOC Advances Bab Gas Cap Project in Major Step Toward Global Gas Expansion

ADNOC Advances Bab Gas Cap Project, Set to Become World’s Largest Gas Cap Development The UAE is progressing with a key component of its long-term energy strategy as ADNOC moves ahead with the development of the Bab Gas Cap project, which could become the world’s largest gas cap development if fully realised. An ADNOC-led concession has been selected to develop and operate the project, which is expected to produce around 1.5 billion standard cubic feet

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