Two rockets hit Kirkuk Air Base and nearby home, no casualties reported
Two rockets struck the Kirkuk Air Base and a nearby residential neighbourhood on Monday night, Iraqi security officials said....
TotalEnergies has started building Iraq’s largest solar power plant in Basra as part of a $27 billion energy deal. The 1,000MW project will boost renewable energy and reduce gas flaring.
France’s TotalEnergies has begun constructing Iraq’s largest solar power plant in Basra as part of a $27 billion energy deal signed in 2023, according to Arabian Gulf Business Insight.
The 1,000MW plant will feature two million solar panels and is intended to diversify Iraq’s energy supply. With 50% owned by TotalEnergies and the remaining stake held by QatarEnergy, the project is part of a broader agreement covering oil and gas development, solar power, and seawater desalination.
TotalEnergies has also committed to tackling Iraq’s gas flaring issue, which has contributed to energy shortages. Initial phases of the solar and gas projects are set for completion between 2025 and 2027.
In late 2024, officials confirmed that TotalEnergies would invest heavily in the Ratawi oilfield, aiming to boost production from 80,000-90,000 barrels per day (bpd) to around 210,000 bpd. With proven reserves of nearly 10 billion barrels, Ratawi’s light crude is in high demand globally.
Meanwhile, British oil giant BP recently finalised a deal with Iraq to redevelop four oil and gas fields in Kirkuk, with an investment of up to $25 billion.
Iraq aims to generate 12GW of clean energy by 2030 and has awarded contracts to companies including Abu Dhabi’s Taqa and Saudi Arabia’s Acwa Power for seven solar plants with a total capacity of 7.5GW.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
Polish refiner Orlen will not buy Russian oil for its Czech refinery after 30 June, Chief Executive Ireneusz Fafara said on Monday. "We freed Central Europe from Russian oil today," Fafara stated.
Starting today, British car and aerospace manufacturers will benefit from significant tariff reductions when exporting to the United States, thanks to the implementation of a landmark UK-US trade agreement. This move is expected to safeguard thousands of jobs in the United Kingdom.
Oil prices fell on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August improved supply expectations amid persistent uncertainty over the outlook for global demand.
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