The effective closure of the Strait of Hormuz due to the ongoing war involving the US, Israel, and Iran has exposed Pakistan’s deep structural vulnerability to global energy disruptions.

The State Oil Company of the Republic of Azerbaijan (SOCAR) has launched a new phase of offshore exploration in Azerbaijan’s sector of the Caspian Sea with detailed seabed studies at the promising Goshadash structure. The project marks a preparatory stage ahead of a large-scale seismic survey that will use advanced Ocean Bottom Node (OBN) technology, underscoring Azerbaijan’s commitment to expanding its hydrocarbon resource base and maintaining its role as a key energy supplier to regional and global markets.

Middle East remains the epicenter of global hydrocarbon supply.

Editor’s note: Moses Becker is a special political commentator for News.Az. He holds a PhD in political science and specializes in interethnic and interreligious relations. The views expressed in this article are the author’s own and do not necessarily reflect the position of News.Az.

On Wednesday, Türkiye's state-run energy company, Turkish Petroleum Corporation (TPAO), and Hungary's MOL Group signed a concession agreement, granting joint rights for hydrocarbon exploration in two sites in Hungary, according to the announcement from the countries' top officials.

Amid global energy transformations and geopolitical instability, ensuring energy security has become a top priority for countries with substantial hydrocarbon reserves.

The U.S. Energy Information Administration (EIA) has revised its oil production forecast for Azerbaijan in 2024, lowering the estimate by 10,000 barrels per day.

Azerbaijan’s Energy Minister Parviz Shahbazov met with Israeli Regional Cooperation Minister David Amsalem.

Kuwait Petroleum Corporation (KPC) said on Sunday it had made a "giant" oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil reserves estimated at 3.2 billion barrels, according to Reuters.