Krzysztof Galos, undersecretary of state and chief national geologist, said, “The discovery of the Wolin East hydrocarbon deposit – although it still requires the preparation, submission, and approval of the deposit’s geological documentation – may prove to be one of the breakthrough moments in the history of hydrocarbon exploration in Poland, especially with regard to areas that have so far remained insufficiently explored, such as Poland’s Exclusive Economic Zone in the Baltic Sea”.
The original agreement, first inked in 1973, concerns the pipeline carrying oil from the semi-autonomous Iraqi region of Kurdistan to the Turkish port of Ceyhan on the Mediterranean. Flows along the Kirkuk-Ceyhan pipeline, which has a capacity for 1.6 million barrels daily, have now been suspended for two years amid a financial dispute between Ankara and Baghdad.
“The Secretary of State is today writing to the Insolvency Service to demand an immediate investigation into the conduct of the directors, and the circumstances surrounding this insolvency,” Shanks also said, adding that Prax Group had left the government with “very little time to act” on finding a way to save the refinery. He further slammed the owner for putting the refinery in an “untenable position” and called on the company to provide financial support for the refinery workers.
Things are going to change for Nayara Energy, a large Indian refiner, in which Russia’s Rosneft has a sizable stake. Nayara Energy was named specifically among entities to be sanctioned by the EU. The Indian company condemned the sanctions as “unjust and unilateral”, echoing New Delhi’s official response to the sanction package, which said the Indian government did not support that package.
Slovakia’s government is planning to increase its intake of Russian pipeline gas under a temporary EU exemption, reversing earlier commitments to phase out Russian energy supplies in a controversial move amid a growing bloc-wide crackdown on Russian fossil fuels. The exemption allows Bratislava to continue drawing from Gazprom supplies until 2027, aligning with a long-term contract that runs through 2034.
The discovery was made on the Vidsyn ridge, which has the potential to hold up to 100 million barrels of oil equivalent (MMboe) gross. The Vidsyn well confirms discovered recoverable resources in the range of 25 to 40 MMboe gross, which are considered commercial. The remaining potential of the ridge will be assessed through an appraisal program, to facilitate for a fast-track development.
Eisa Abdulrahman Al Maraghi, CEO of Kuwait Foreign Petroleum Exploration Company (KUFPEC), talks to The Energy Year about investment plans to triple the company’s portfolio and banking on gas and LNG to gain international competitiveness. As Kuwait’s international upstream company, KUFPEC engages in oil and gas exploration and production globally.
Hanwha’s move comes amid new US trade policies proposed in April 2025 that target Chinese shipbuilding and aim to encourage domestic production. Provisions under the new policies, which are still pending a final ruling, include requirements that a certain percentage of US LNG exports be shipped on US-built LNG carriers.
Incorporated in 1993, the Bulk Oil Storage and Transportation Company Limited (BOST) serves as Ghana’s primary institution for oil storage and distribution. As a key pillar in the nation’s energy security and regional fuel logistics, BOST’s performance remains vital to the country’s energy sector development.
Energy tech provider TechnipFMC has secured an integrated engineering, procurement, construction, and installation (iEPCI) contract for Equinor ASA’s Heidrun extension project. TechnipFMC said in a media release that the award follows an integrated front-end engineering and design study it had already completed.