The Centre reduced royalty rates on offshore deepwater and ultra-deepwater oil production to boost exploration and ease industry costs amid global energy volatility. The revised framework lowers levies for initial production years while retaining existing rates for onland and shallow-water categories
Libya boosted oil production to a decade-high 1.43 million barrels daily, with strong revenues. Authorities tightened control over oil deals to protect national interests, while stability in output remains tied to infrastructure reliability and ongoing political conditions
A major corruption scandal in Ukraine’s energy sector has intensified pressure on President Volodymyr Zelenskyy, with growing calls to dismiss his influential chief of staff, Andrii Yermak. Despite firing ministers and sanctioning associates, Zelenskyy faces political unrest as trust and wartime stability are questioned
