The Saudi Arabia Ministry of Energy announced the winning bidders for eight licenses covering the establishment, development, operation, and maintenance of liquefied petroleum gas (LPG) filling and storage facilities, as well as the wholesale distribution of LPG to consumers.
The European Union has launched the Trans-Mediterranean Renewable Energy and Clean Tech Cooperation (T-MED), a flagship initiative aimed at accelerating clean energy development across the Mediterranean and mobilising up to €25 billion ($29 billion) in investments by 2035.
Indonesia has introduced a new palm oil export regulation that will centralise overseas shipments through designated state-owned enterprises from January 2027, while providing a six-month transition period for private businesses to adapt to the new framework.
Spanish energy company Repsol and Abu Dhabi-based renewable energy developer Masdar have signed an agreement under which Masdar will acquire a 49.99% stake in a renewable energy portfolio in Spain.
Japanese Prime Minister Sanae Takaichi is expected to propose a three-point framework to strengthen global energy security at G7 Summit, amid growing concerns over oil supply disruptions linked to renewed tensions in the Middle East.
Construction has started in China on a 271,000-cubic-metre LNG carrier, highlighting advances in high-end shipbuilding and energy transport. The QC-Max vessel, built by Hudong-Zhonghua Shipbuilding, a China State Shipbuilding Corporation subsidiary, is due for delivery in 2028.
Italy will spend almost €60 billion ($69 billion) this year to import energy, up €8-9 billion from 2025, the national fuel producers association UNEM said.
Global oil prices declined during Friday's trading session, reaching their lowest levels since early March. Kuwait's crude oil too fell by 6.1% to $94.84 per barrel on Friday, down from $101.04 per barrel the previous day, according to data from Kuwait Petroleum Corporation (KPC).
Qatar's International Media Office has strongly rejected the allegations published by The Washington Post on June 12 that the country's energy production decisions were ever coordinated with Iran or intended to influence regional events, said a Qatar News Agency report.
The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to continue expanding this year and the next, supported by resilient economic growth, rising mobility and increased industrial activity across major emerging economies.
