04 August 2025
04 August 2025
The penalties include a new 25% tariff on Indian exports to the US and additional sanctions for continuing to purchase Russian arms and oil.
Rising energy demand and untapped crude reserves likely to drive significant capacity growth in Africa.
This agreement could see up to 20PJ per year being supplied for at least ten years following the project's commencement.
Operators will have the opportunity to apply for new permits for petroleum exploration from September 2025.
The contract was originally awarded in March 2022.
The Irena field is part of the Izabela concession operated by Edina, a JV equally owned by Energean and INA.
The move is said to have been in response to the decrease in price discounts and warnings from US President Donald Trump.
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