Australia lifts fuel restrictions following fire at its largest refinery
The Australian Prime Minister Anthony Albanese stated 'on Friday that a fire in 'the larger of Australia's two oil refineries would not trigger any fuel restriction, as the Government ramps up its efforts to secure fuel supply due to the War on Iran. The fire at Viva Energy’s refinery, located in Geelong an hour from Melbourne, is a terrible time for Australia. It imports 80% its fuel and has been racing to secure additional supply?from region allies. Albanese, after meeting with company officials on site, said that the 120,000 barrels per day refinery currently operates at reduced rates.
Santos's Mideast impact will last for many years and its shipping routes avoid chokepoints
Australia's?Santos stated on Thursday that the Middle East?conflict had upended energy markets, with effects likely to?permanently?permanent for?years. It also noted?its liquefied?natural?gas shipping routes are far removed from high-risk?chokepoints. These comments are made as the Middle East remains volatile despite diplomatic efforts, sporadic talks and increased risks around the Strait of Hormuz. This is a vital artery for the global oil and gas supply. Santos Chairman Keith Spence has also announced that he will retire after the 2027 Annual General Meeting. A "orderly succession process" is already underway.
Australia PM Albanese will visit Brunei and Malaysia to shore-up fuel supply
The Australian Prime Minister Anthony Albanese is visiting Brunei this week and Malaysia next, as part of his diplomatic efforts to secure fuel supplies for Asian allies following disruptions caused by the Middle East conflict. Albanese's office announced in a Sunday statement that he will be traveling to Bandar Seri Begawan, Kuala Lumpur and Bandar Seri Begawan from April 14-17. He will meet Brunei’s ruler Sultan Hassanal Bolkiah, and Malaysian Premier Anwar Ibrahim. The statement said that Foreign Minister 'Penny Wong' would also meet with her counterparts from Brunei, Malaysia and Singapore.
Australia's resources outlook is delayed due to 'extreme volatility caused by the Iran war'
The Australian government's quarterly energy and resources outlook was delayed for the very first time due to the "extreme volatility", caused by the U.S./Israel war on Iran. This is making forecasts outdated, according to a spokesperson. The delay comes as Australia's Government faces?growing demands for a windfall?tax on?liquefied?natural?gas export profits, while some miners are struggling to secure diesel supplies. The Office of the Chief Economist publishes the Resources and Energy Quarterly…
Occidental finds oil in Bandit prospect, Gulf of Mexico
?U.S. Occidental Petroleum, a shale oil producer, has 'discovered oil at the Bandit Prospect 'in the Gulf of Mexico, which it 'co-owns. Bandit is operated and owned by Occidental. It holds a working interest of 45.375%. U.S. oil major Chevron holds 37.125%, and Australia's Woodside Energy has 17.5%. About?15% of U.S. oil production comes from the Gulf of Mexico. Jeff Simmons, Occidental's executive director, said: "We think this?discovery demonstrates?the?continued significance of the Gulf of America?
Document shows India wants to double its capacity and reduce steel emissions by 25%.
India's steel mills plan to reduce carbon emissions by around a quarter in the next decade, and to reduce their reliance on coal. The world's second largest producer of the alloy plans to double its output. According to a draft of a cabinet note from March 10 that was reviewed by the. It has never been reported that the new target for emissions reductions is a new one. The document showed that India's steelmakers emit 2.65 tons per ton finished steel. This is 32% more than the global average, which is 2 tons. It also accounts for 10-12% of India's total emissions.
Australian State calls for quicker approvals of new oilfield
Queensland, Australia's state, said on Wednesday that it would urge the federal government to streamline approvals of a 'potentially' first new oilfield Australia has seen in decades. It argues that faster development is necessary to boost fuel security. Taroom Trough, a frontier basin that may contain large unconventional gas reserves, could also hold significant oil. This is after Australian junior Omega Oil and Gas found oil unexpectedly in 2025. David Crisafulli said that Shell has also started to produce small amounts of oil in the field.
Shell reduces Q1 production forecast after Qatar disruptions citing conflict with Iran
Shell cut its first-quarter outlook for its integrated gas production on Wednesday to reflect the impact of the 'Middle East conflict' on Qatar. Shell said that its trading results, which include its oil trading desk in its chemicals and products division, will be "significantly" higher than the previous quarter. This is similar to the adjusted earnings of its marketing arm. Brent crude oil prices, which are the global benchmarks, soared to multi-year heights in the first quarter, near $120 per barrel. This was after the U.S.
Russell: It's time for the world to stop delusions about the Iran Energy Crisis.
LAUNCESTON (Australia), April 7: The U.S.-Israeli war against Iran is characterized by miscalculations on the part of all parties involved, including those who are peripheral. But the real danger lies in the illusion about the magnitude of the energy crisis that will result. Any nation that thinks it or another?country can emerge from this conflict as "winners" is delusional. The conflict has now entered its sixth week. Even if there is a ceasefire in the next couple of weeks and vessel traffic resumes through the Strait?Hormuz, the energy crisis will still be a reality for the global economy.
IEA chief says current oil and gas crises worse than 1973, 1978, 2002 combined
Fatih Binol, head of the International Energy Agency, told Le Figaro that the current oil and 'gas crisis triggered a by the 'blockade of Strait of Hormuz is?more serious compared to the corresponding?crises?in 1973 1979 2002". He said that the European countries as well as Japan, Australia, and other nations will'suffer. But the countries most at risk are developing nations who will suffer higher oil and gasoline prices, higher food costs, and a general increase in inflation. Last month, the IEA members agreed to release a part of their strategic reserve.
Russell: It's time for the world to stop delusions about the Iran Energy Crisis.
LAUNCESTON (Australia), April 7: The U.S.-Israeli war against Iran is characterized by miscalculations on the part of all parties involved, including those who are peripheral. But the real danger lies in the illusion of the magnitude of the energy crisis that will result. Any nation that thinks it or another country can "win" the conflict is deluded. The conflict has now entered its sixth week. Even if a ceasefire is reached and vessel traffic resumes through the Strait of Hormuz within the next few weeks, the global economy will still be facing an energy crisis.
Russell: The war between Iran and the ROI is both a boon and a danger to Australia's LNG.
The U.S.-Israeli war against Iran changed the global market of?liquefied gas (LNG), giving a boost to the producers outside the Middle East. This boost will likely last for many years after the conflict ends. Australia is one of the biggest beneficiaries, having last year dropped to third place in the world for super-chilled fuel exports behind the United States of America and Qatar. The 'effective closure of the Strait of Hormuz' has stopped Qatar from exporting?LNG, which means that it is likely to lose its second place this year back to Australia, even if the waterway is reopened and shipments resume.
Staff note: New BP CEO pledges consistency
BP's 'CEO' Meg O'Neill said on Wednesday that she would provide consistency and accelerate the performance of the group, a full year after BP refocused its strategy firmly to oil and natural gas. This was according to a note to staff seen by. O'Neill began her new job as BP's 4th CEO?since 2020, and the first external hire in the role for more than a hundred years. She is the first female to head a major oil company. O'Neill, formerly of Australia's Exxon Mobil and Woodside Energy?, joins BP as it seeks to get away from its ill-fated venture into renewables.
India increases jet fuel and commercial LPG prices in response to the Mideast crisis driving global surge
Indian fuel retailers increased jet fuel - and commercial liquefied petrol gas (LPG), prices on Wednesday. This was in response to a sharp rise in global prices caused by the U.S./Israeli war on Iran. India, the world's second largest LPG importer is battling the worst gas crisis it has seen in decades. The government is cutting gas supplies to industries so that households are not affected by shortages. The Indian Oil Corporation website shows that domestic fuel retailers in New Delhi have increased the price of aviation turbine fuel to 104.927 rupees a kiloliter by 8.6% and commercial LPG to?2…
Russell: The war between Iran and the ROI is both a boon and a danger to Australia's LNG.
The U.S.-Israeli war against Iran changed the global market of liquefied gas (LNG), giving a boost to producers outside the Middle East. This boost will likely last for many years after the conflict is over. Australia is one of the biggest beneficiaries, having slipped last year to third place in the world's exports of super-chilled gasoline behind the United States of America and Qatar. The Strait of 'Hormuz is effectively closed, and Qatar has no LNG exports. This means that Qatar will likely fall to second place behind Australia in this year even if it reopens the 'narrow waterway.
Australia Warned Against Taxing LNG Windfall Profits
Shell has warned Australia against introducing a windfall tax on gas exporters, saying such a move would deter investment and undermine energy security as LNG prices surge following disruption to global supplies caused by the Iran war.Australia became the world's second-largest LNG supplier after Iranian strikes forced Qatar to halt production, with its export revenue set to surge due to lower supply caused by the conflict.Canberra is reportedly weighing options to capitalise on the higher prices…
Shell warns Australia about taxing LNG windfall profit
Shell has warned Australia not to introduce a windfall charge on gas exporters. It said that such a tax would 'deter investment' and 'undermine energy security, as LNG prices are surging following the disruption of global supplies due to the Iran War. The conflict in the Middle East has caused the supply of LNG to drop, and Australia is now the second largest LNG supplier. Its export revenues are expected to increase due to the lower supply. Canberra is said to be weighing up options to capitalize on the higher prices.
Chevron estimates repairs at Wheatstone gas plant will take weeks
The company stated on Sunday that it is likely to take several weeks for the Wheatstone Liquefied Natural Gas facility in Western Australia to fully resume production as they repair damage caused by the cyclone last week. The Australian LNG supply was disrupted by Cyclone Narelle, a disruption of more than 30,000,000 metric tons per annum. Saul Kavonic, MST Marquee analyst, said on Friday that the Middle East conflict and the cyclone Narelle have combined to disrupt more than a quarter of global LNG supply.
Australia LNG continues to disrupt after Narelle Thousands without power
Australia's liquefied gas production remains disrupted, and thousands of people in the remote north were left without electricity on Sunday. This is more than a fortnight after the Narelle Storm System hit the country. The impact of the 'Narelle', which was downgraded to a tropical cyclone on Saturday, has been exacerbated by a global LNG shortage caused by a month-old Iran War. Qatar's production was halted after Iranian attacks damaged its facilities, and Australia became the second largest LNG exporter in the world. Narelle, a severe tropical storm, made landfall in Queensland on March 20.
Australia LNG continues to disrupt after Narelle, thousands of people without power
On 'Sunday', Australia's liquefied gas production was still disrupted. Thousands of people in the remote north were without power for more than a month after the Narelle Storm System?hit Australia. The impact of?Narelle, which was downgraded to a?tropical storm on Saturday, has been exacerbated by a global LNG supply crisis caused by the Iran War, which is now a month old. Qatar's production was halted after Iranian attacks damaged its facilities, and Australia became the second largest LNG exporter in the world. Woodside Australia said on Sunday that there was no new information.
