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Global Energy Prices Jump as Middle East Crisis Interrupts Shipping, Oil Production
Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, with Tehran attacking ships and energy facilities, closing navigation in the Gulf and forcing production stoppages from Qatar to Iraq.The benchmark Brent crude oil contract gained nearly 8% on Tuesday to above $83 per barrel…
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India's small-scale steelmakers are facing production cuts due to LNG shortages caused by the Iran war
Industry officials say that a number of small 'Indian steel' producers have warned of production cuts due to the Middle East conflict, which is disrupting gas supplies for the world’s second largest producer of the alloy behind China. Triveni Iron and Steel Industries, based in Gujarat…
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G7 and EU discuss energy prices and strategic reserves
Officials said that the G7 energy minsters will discuss the soaring prices of energy due to the war in Iran during a Tuesday call. A group of European Union Leaders will also do the same later in the day. On Monday, oil?prices soared to $119 per barrel, their?highest level in nearly four years.
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S&P: Central Europe is more resilient to supply shocks in the face of Iran war
S&P Global reported?on Tuesday that Central and Eastern Europe is more resilient to energy?shocks as a result of efforts to diversify the sources of energy since Russia's invasion in?Ukraine 2022. This provides buffers against economic impacts of the war in the Middle East. S&P Global…
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LNG Canada increases production as Iran's war threatens global supplies
LNG Canada, a Shell venture, increased production?and exported to Asia in this month. LSEG data shows that the Iran 'war' threatens Asian natural gas supply, which is particularly vulnerable to disruptions on a global scale. Data shows that the LNG project at Kitimat in British Columbia exported five cargoes during the first eleven days of March.
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Brazil's Raizen reaches deal for out-of-court debt restructuring, O Globo reports
Local newspaper O Globo on Tuesday reported that Brazilian sugar and ethanol producer Raizen had reached an agreement?with…
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Gulf of Mexico Oil and Gas Auction yields Far Fewer Bids Than First Trump Sale
According to a document posted on the government's website, the second auction of oil and natural gas leases in the Gulf…
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Patterson-UTI, an oilfield services firm, says that higher oil prices won't spur more US production.
Andy Hendricks, CEO at?oilfield service company 'Patterson-UTI', stated on Tuesday that a surge in energy costs caused by…
Latest news
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LNG Canada increases production as Iran's war threatens global supplies
LSEG data shows that LNG Canada, a Shell venture, has increased production and exports to Asia in the past month. This is…
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EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
?U.S. The Energy Information Administration (EIA), in its Tuesday Short-Term Energy Outlook, said that power consumption…
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EIA: US natgas production to reach record highs in 2026 while demand declines
The U.S. Energy Information Administration said in its short-term energy outlook on Tuesday that U.S. gas production will…
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Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and the attacks of Iran on Gulf neighbours has caused oil and natural gas production to stop in the Middle East.
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Hungary Central Bank to use reserves to fund energy imports
In a Tuesday statement, the central bank of Hungary said it would?provide foreign exchange liquidity from its reserves in…
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Repsol, a Spanish company, may attract new investors to the US renewables unit
Josu Imaz, CEO of Spanish energy company Repsol, said that the group is reviewing its approach to renewable power generation…
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Zambia seeks global investors to triple copper production by 2031
Zambia is wooing investors from around the world, including those in the United States. It aims to triple its copper production…
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Qatar is looking to strengthen its security partnership with the US following Iran's attacks
Qatar wants to strengthen its defense partnership with the United States after Iranian air strikes on Qatari territory, said…
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VEGOILS - Palm oil drops more than 3%, as crude and rival oils slump
Malaysian palm futures dropped more than 3% on Monday, following declines in rival edible oils traded in Dalian, Chicago and Dalian markets…
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G7 and EU will hold a call on the soaring prices of energy
Officials have confirmed that the G7 energy ministers are scheduled to discuss the rising energy prices due to the war with…
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German startup plans to build 30-megawatt AI Data Centre in order to boost sovereign control
Polarise, a German start-up, plans to build an artificial intelligence data center with a 30-megawatt capacity. This would…
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Palm oil falls as crude and rival oils slump
Malaysian palm oil futures declined on Tuesday, following rival edible oils in Dalian and Chicago and crude oil prices. By midday…
Shale Oil & Gas
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Qatar is looking to strengthen its security partnership with the US following Iran's attacks
Qatar wants to strengthen its defense partnership with the United States after Iranian air strikes on Qatari territory, said…
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India's small-scale steelmakers are facing production cuts due to LNG shortages caused by the Iran war
Industry officials say that a number of small 'Indian steel' producers have warned of production cuts due to the Middle East conflict…
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G7 and EU will hold a call on the soaring prices of energy
Officials have confirmed that the G7 energy ministers are scheduled to discuss the rising energy prices due to the war with…
LNG
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Venture Global Able to Support LNG Shortfall as Qatar Pauses Output
Venture Global has the biggest amount of LNG cargoes in the world that are not contracted and is ready to help stabilize…
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Cheniere Raises Share Repurchase Target After Q4 Profit Doubles
Cheniere Energy said its fourth-quarter profit more than doubled on strong liquefied natural gas (LNG) demand and the company…
Renewables
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VEGOILS - Palm oil drops more than 3%, as crude and rival oils slump
Malaysian palm futures dropped more than 3% on Monday, following declines in rival edible oils traded in Dalian, Chicago and Dalian markets…
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German startup plans to build 30-megawatt AI Data Centre in order to boost sovereign control
Polarise, a German start-up, plans to build an artificial intelligence data center with a 30-megawatt capacity. This would…
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Palm oil falls as crude and rival oils slump
Malaysian palm oil futures declined on Tuesday, following rival edible oils in Dalian and Chicago and crude oil prices. By midday…