Siemens Energy: The Iran war is driving demand for gas turbines and AI to further increase.
Siemens Energy executives stated on Thursday that the Iran war has 'become an additional driver for?demand of gas turbines. Siemens Energy, along with its rivals GE Vernova, Mitsubishi Heavy Industries and others, has seen the demand for gas turbines increase as hyperscalers spend more than $700 billion on energy-hungry artificial intelligent, driving demand for new energy capacities.
EU to waive penalties on oil and gas companies that violate methane laws for three years
A draft document seen by revealed that the European Union would ask its member states to waive penalties for three years on oil and gas companies who 'breach their methane emission law' in response to disruptions to energy supplies caused by the Iran War. The move was made in response to pressure from the U.S. Government and oil and gas industry associations…
The industry ministry warns that the heatwave could worsen strain on Vietnam's power grid
The?industry minister of Vietnam said that the heatwave in Vietnam had already put immense pressure on the?national power grid. The temperatures in the north of Vietnam have been hovering around 40 degrees Celsius for days. Hanoi residents have complained of sleepless nights due to power cuts in various districts as the grid was strained by abnormal demand for electricity. The U.S. has not confirmed its strength.
India and the US discuss Middle East trade, as Rubio cites progress in Iran conflict
The U.S. Secretary Of State Marco Rubio met with Indian Foreign Minister Subrahmanyam Jishankar in New Delhi on Saturday. Both sides discussed the Middle East, the trade, the visas, maritime safety, and energy supplies. Washington also cited the progress made?in efforts to resolve the conflict between Iran and the United States. Rubio stated that…
Inpex, Japan's oil company, raises its full-year profit estimate as oil prices rise
Inpex, Japan's largest oil and gas exploration company, raised its net profit forecast for the full year on Wednesday. It cited higher than expected crude oil prices as well as a weaker Japanese yen in light of the Middle East crisis. Inpex has revised its 'net profit forecasts for 2026 to a range between 350 billion yen and 450 billion (US$2.2 billion-$2.9billion) from an earlier estimate of 330billion yen.
Europe's first-quarter earnings are a mixed bag for consumers and growth.
A majority of European companies have reported their first-quarter earnings. As a result, the corporate profits will rise faster than ever in three years. This is due to strong growth from the financial and energy sectors. As the war drags on, concerns are growing for consumers. According to LSEG I/B/E/S earnings in Europe are expected to be up…
Sources: India refuses Russian LNG due to sanctions; talks continue about permitted cargoes
Two sources who are directly involved in the matter confirmed that India had declined Russia's offer of liquefied gas, subject to U.S. sanction, despite a shortage caused by Middle?East tensions. This has left a tanker bound to India in limbo while talks continue about permitted cargoes. This stance highlights how the third largest oil importer…
EU considering suspending penalties against oil and gas companies that violate methane laws
After?pressure by industry and the United States government, the European Commission has developed plans to let oil and gas firms avoid penalties for 'breaching EU methane emission laws. This follows a call from?oil-and-gas industry groups to suspend the law. They warned that it could disrupt EU fuel exports once tougher provisions come into effect in 2027. The U.S. Government has also requested that the EU exempt U.S.
Australia and Japan sign agreement on critical minerals and energy
Australia and Japan have agreed to intensify their 'cooperation in energy and minerals. The agreement was reached on Monday, when the Japanese Prime Minister Sanae Takaichi and his Australian counterpart Anthony Albanese met during a three-day visit to Australia. The two countries signed a historic defence agreement last month and agreed to enhance the energy, food, and essential minerals supply chains.
Source: Japan considers summer energy subsidies of $3.1 billion as costs increase
Sources with direct knowledge said that the Japanese government was considering renewing its subsidies for electricity and natural gas starting in July for three months. This is because it expects to face higher energy costs due to conflict in the Middle East. Source who refused to be named as it is a 'private matter' said that the subsidies could cover the period from July to September.
Singapore is looking for proposals to build gas-powered power plants that are hydrogen-ready
The Energy Market Authority of Singapore?asked the private sector on Wednesday to submit offers for the construction of combined-cycle?gas turbine generator units that are ready to run with hydrogen in 2031 or 2032. Singapore's authorities claim that despite the disruption in energy supplies due to the conflict in the Middle East the city-state still needs gas to supplement renewable resources over the medium term.
Merz, a German journalist, says Iran humiliates the US when talks stagnate
In an abrupt and unusual rebuke of the conflict, German Chancellor Friedrich Merz stated on Monday that?Iran?s?leadership humiliated the United States by sending U.S. officials into Pakistan without any results. Merz said that he did not understand the U.S. exit strategy in the Iran War. These comments highlighted the deep divisions between Washington, and its European NATO Allies.
Germany Plans For $1.9 billion of Fuel Price Relief Amidst Global Energy Crisis
Germany's coalition government has agreed fuel price relief for consumers and businesses worth 1.6 billion euros ($1.9 billion), ending a dispute over how to respond to an oil price surge triggered by the Iran war.The energy tax on diesel and petrol will be cut by about 0.17 euros per litre for two months, the conservative CDU party and its centre…
Zelenskiy pledges increased security cooperation with Turkey in Istanbul
After meeting with his Turkish counterpart Tayyip Erdogan on Saturday in Istanbul, Ukraine's president Volodymyr Zelenskiy called for a?greater co-operation between the two countries. Kyiv is seeking to capitalize its wartime experience?on an international stage. Zelenskiy stated that he and the Turkish President had agreed on "new steps" to be taken in the security cooperation, and that the teams would finalise details soon.
TSX rises more than 1% after US-Iran truce calms down investors
Canada's main index of stocks soared on Wednesday as?mining shares led broad-based gains? after a U.S. - Iran ceasefire boosted investor sentiment. By 10 a.m. The S&P/TSX composite index was up 1.57 % at 33,757.56 ET. The U.S.-Iran ceasefire of two weeks has ended a six week conflict that had impacted energy supplies and raised inflation concerns.
China's solar panel exports reach record levels in March due to Africa and Southeast Asia
China's solar panels exports reached a new record in March, according to data from China's customs and industries. Southeast Asia and Africa stocked up ahead of anticipated price increases, and the fallout of the Iran war also boosted demand. Exports of panels jumped 42.2% in March to reach 1.75 million metric tonnes, which is equivalent to 13.3% in 2025.
Major Australian LNG plant to close after strike vote
The vote on whether or not workers at Inpex’s Ichthys facility in Australia strike over pay and conditions is set to close later this Friday. The strike at the 9.3 metric ton-per-year Darwin facility could worsen already tight global energy supplies. Japanese power and gas utilities who buy from this company are closely monitoring it. Australia is Japan's biggest LNG supplier.
US gas prices reach $4 per gallon due to the Iran war which has wreaked havoc on energy supplies worldwide
The U.S. average gas prices rose to $4 per gallon for the first time since more than three years on Monday, according to data from the price tracking service, GasBuddy. This was the largest monthly increase in decades. Last August 2022, after the Russian invasion of Ukraine, was when we reached $4 per gallon. Analysts have called this price a psychological barrier to consumers.
Energy ministry reports that Morocco has enough diesel to last for 51 days.
The 'energy' ministry announced on Thursday that Morocco, which is heavily dependent on imports, has enough diesel to last for 51 days or 55 days respectively, and that gas and coal supplies are?secured until the end of the month. The war in the Middle East has caused an unprecedented disruption in energy supplies, leading to record gains in crude oil prices.
Grid operators claim that Britain will still have enough electricity this summer, despite the turmoil in Iran
The network operators in Britain said that the country will have enough electricity and gas this summer, despite a decline in domestic gas production, and fears over Middle East energy supplies. The conflict in the Middle East disrupted energy shipping through the Strait of Hormuz, and Qatari LNG production was halted. This accounts for about a fifth of the global supply of liquefied gas.
