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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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Bangladesh closes early its universities to save energy amid energy crisis
Bangladesh will close its universities on Monday as part of an emergency measure to conserve fuel and electricity amid a worsening energy crisis related to the conflict in the Middle East. The authorities said that the decision would apply to all private and public universities in the country.
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Palm oil prices jump the most in three years as biodiesel prospects improve.
Malaysian palm oil futures jumped more than 9% on Monday. This was the largest jump in three years. It is expected that a rise in crude 'oil' will boost demand for biodiesel. The benchmark May palm oil contract on the Bursa Derivatives exchange gained 296 Ringgit or 6.78% to $4,663 Ringgit ($1…
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As oil prices rise, Indonesia could revive its B50 mix of biodiesel
Yuliot Tanjung, the deputy energy minister in Indonesia, said that the rising crude oil prices caused by the conflict in the Middle East may force Indonesia to reconsider its plan to introduce a B50-grade biodiesel. Yuliot said in a weekend email that Indonesia has not yet made a decision.
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EUROPE GAS-European Gas Prices Rise Back to 2023 High as US-Iran Conflict Enters Second Week
LONDON, 9 March - Benchmark European Wholesale Gas rose again on Monday to its highest level for more than three years, tracking a surge of?oil as the US-Iran Conflict entered its second weeks and shipping?around?the Strait of?Hormuz remained near a standstill. Iran named?Mojtaba?Khamenei as the successor to his father…
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Bloomberg News reports that oil magnate Sargeant's firm loaded 1 million barrels of oil for China.
North?American Blue Energy is a company that has been backed by the United States. Harry Sargeant III is a renowned energy…
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Oil majors are still stuck on the sidelines as Iran's war increases oil prices.
Oil prices rose to their highest level since 2022 on Monday, but the shares of major producers such as Shell and Exxon Mobil…
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LSEG data shows that Freeport LNG is on the way to resuming full production.
Freeport LNG in Texas will resume full production Monday after an outage Sunday, according to the company. Freeport LNG said…
Latest news
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Brazil's Ultrapar taps BTG for possible Ipiranga stake sale, Chevron interest reported
Two people familiar with this process said that Brazilian?conglomerate Ultrapar?has?tapped??investment banking BTG Pactual…
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Venture Global promises on-time LNG delivery amid Middle East conflict
Venture Global LNG, a U.S. developer of liquefied natural gas (LNG), has informed customers that its Plaquemines plant in…
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Shell sells Jiffy Lube for $1.3 Billion to Monomoy Capital
Shell announced on Monday that it would sell its Jiffy Lube chain of lubricant shops to an affiliate of private equity firm…
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Brazil's sugar mills will reduce production and switch to ethanol due to the energy price spike
Analysts said that the sharp rise in energy prices due to the ongoing 'war' in the Middle East will cause Brazilian sugarcane…
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Oil stocks held back by G7 nations as Iran crisis raises prices
France's Finance Minister said that G7 countries haven't yet decided whether to release their emergency oil reserves, as…
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AFR reports that Glencore is open to listing Australia if it's beneficial.
The Australian Financial Review reported that Glencore was "open" to considering a listing in Australia if it proved beneficial for the company.
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Source: India will not join IEA's initiative to tap oil resources
A government source confirmed that India does not plan to join the International Energy Agency's (IEA) initiative aimed at…
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Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and Tehran's attacks upon Gulf neighbours has caused oil and gas?exports to be disrupted and production stopped.
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Helsinki Energy Group plans to invest heavily in small nuclear reactors
Helen, the city's energy utility, plans to invest between $1.16 billion and $5.78 billion in Small Modular Reactors in the next few years.
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Oil and Gas Industry urge EU to stop methane emission law
Oil and gas companies warned that the European Union's methane emission law could disrupt Europe’s fuel imports if it is implemented next year.
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Palm oil prices surge as crude oil rises, boosting biodiesel prospects
Malaysian palm-oil futures jumped more than 9%, before paring gains on Monday. This was the largest jump in three years.
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Middle East conflict may spur demand for palm oil in biodiesel sector
Industry officials have told?that the Middle East conflict, which has pushed up crude oil prices, could boost demand for…
Shale Oil & Gas
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Oil and Gas Industry urge EU to stop methane emission law
Oil and gas companies warned that the European Union's methane emission law could disrupt Europe’s fuel imports if it is implemented next year.
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Head of opposition party says Japan should use nuclear power to counter Iran crisis
Yuichiro Tamaki, leader of an opposition party in Japan, said that Japan should run all its nuclear?power stations to offset…
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Bangladesh closes early its universities to save energy amid energy crisis
Bangladesh will close its universities on Monday as part of an emergency measure to conserve fuel and electricity amid a…
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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Palm oil prices surge as crude oil rises, boosting biodiesel prospects
Malaysian palm-oil futures jumped more than 9%, before paring gains on Monday. This was the largest jump in three years.
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Middle East conflict may spur demand for palm oil in biodiesel sector
Industry officials have told?that the Middle East conflict, which has pushed up crude oil prices, could boost demand for…
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Palm oil prices jump the most in three years as biodiesel prospects improve.
Malaysian palm oil futures jumped more than 9% on Monday. This was the largest jump in three years. It is expected that a…