Russia's Threatens to Divert LNG Cargo From Europe, Options Limited
Russia's threat to halt liquefied natural gas (LNG) deliveries to Europe and divert cargoes to Asia would prove difficult to achieve because of its long-term contracts and need for more Arctic-class tankers, industry analysts said.President Vladimir Putin said in a TV interview early in March that Russia could stop gas supplies…
EUROPE GAS - European gas prices rise on the back of oil gains and low stock levels
The benchmark British and Dutch wholesale gasoline prices rose on Friday morning. This followed a rise in oil prices despite the fact that U.S. president Donald Trump had extended a pause to attacks against Iran's energy plants. The benchmark 'Dutch front month?contract was up 0.572 euro at 55.79 Euro per megawatt-hour (MWh) or about $18.80 a mmBtu at 0913 GMT.
India reduces special excise duty on petrol and diesel
India has slashed the special excise duty on 'petrol and diesel' as fuel prices remain volatile, with supplies being?stifled by the Iran war. The Indian Finance Ministry reduced the special excise tax on petrol from 13 rupees per litre to 3 rupees (US $0.0318) in a government order issued Thursday. The duty on diesel was also reduced to zero rupees from 10 rupees. The U.S.
India Buys First Iraian LPG Since US Removes Sanctions
India has bought its first cargo of Iranian liquefied petroleum gas in years after the U.S. temporarily removed sanctions on Tehran's oil and refined fuels, LSG trade flows and three industry sources said.India had shunned energy purchases from Iran in 2019 under pressure from Western sanctions. The tanker was initially bound for China…
Oil Prices Fall 4% as US Proposes Iran Peace Plan
Oil prices slid about 4% on Wednesday on reports that the U.S. had sent Iran a 15-point proposal aimed at ending the war, prompting talk of progress toward a ceasefire.Brent futures fell 3.96, or 3.8%, to $100.53 a barrel at 10:41 a.m. EDT (1441 GMT), while U.S. West Texas Intermediate (WTI) crude fell $3.57, or 3.9%, to $88.78.Pakistan has delivered a U.S.
Sources say that India has bought its first cargo of Iran LPG in many years since US sanctions have been eased.
LSG trade flows, along with three industry sources, reported that India had 'purchased its first cargo' of Iranian liquefied petroleum gas after years. The U.S. temporarily lifted sanctions on Tehran’s refined fuels and oil. India has avoided buying energy from Iran under the pressure of Western sanctions. According to LSEG, the tanker had originally been bound for China.
Prices of EUROPE GAS fall amid tentative market expectations for an end to the Iran war
Dutch and British benchmark gas prices fell early on Wednesday to their lowest level in nearly two weeks, following news of the U.S. initiative to negotiate an end to the war with Iran which has stopped around a fifth?of global oil and natural gas supplies. Intercontinental Exchange data showed that the benchmark Dutch front-month contract for the TTF hub had fallen by 4…
India orders the strengthening of its natural gas infrastructure amid shortages
India issued an order Tuesday to address obstacles in building and expanding its natural?gas?infrastructure, as it aims to 'diversify' its fuel supply in the face of disruptions on global energy markets due to the U.S./Israeli war against Iran. The conflict has caused disruptions in shipping and gas supply, including the close…
Industry executives warn that the global energy crisis is worsening; attempts to plug the supply gap are not enough.
Executives and oil ministers reaffirmed that the global energy crisis has worsened as emergency measures by governments around the world have failed to plug the huge shortfall of oil and gas caused by the U.S. and Israeli?war against Iran. Energy, fertilizers, and petrochemicals costs are rising as the world loses up to 20 million…
Shell CEO warns that energy shortages could occur in Europe by the end of next month.
Shell CEO Wael Sawan warned on Tuesday that energy shortages in Europe could occur by the end of next month. Sawan added that Shell is working with governments in order to address the energy crisis. This includes storage and purchasing. Sawan said that the Middle East conflict has already impacted jet fuel supplies. Diesel and gasoline will follow as the summer driving season begins in Northern Hemisphere.
India Loads LPG onto Its Empty Vessels Stranded in the Gulf
India is loading liquefied petroleum gas onto its empty vessels stranded in the Persian Gulf as the country grapples with a gas shortage triggered by the conflict in the Middle East, an official from the federal shipping ministry said on Tuesday.Eight LPG carriers, 4 crude oil ships, and one liquefied natural gas (LNG) tanker were…
European Energy Shortages Could Be Felt By April
Energy shortages could hit Europe by next month, Shell CEO Wael Sawan said on Tuesday, adding that securing adequate energy supply was critical to national security.Countries cannot have national security without energy security, Sawan said, adding that Shell was trying to work with governments to help them address the energy crisis, including with storage and purchasing.
Modi and Trump discuss the importance of keeping Strait of Hormuz Open
?Indian PM Narendra Modi, and?U.S. In separate posts on X, U.S. Ambassador to India Sergio Gor, and Modi, said that President Donald Trump called him on Tuesday, discussing the'situation in the Middle East', including the importance of maintaining the Strait of Hormuz. It was the first time the two leaders had spoken since the U.S., Israel and Iran launched coordinated attacks against Iran on February 28.
Gulf Stocks Mixed amid Confusion over US-Iran Talks
Gulf markets closed mixed on Tuesday. Qatar?extended losses, while other bourses stabilized as investors parsed contradictory signals about potential U.S.Iran 'talks. The mood was volatile when U.S. President Donald Trump delayed attacks on Iran's energy infrastructure and spoke of "productive" talks to end the U.S.-Israeli conflict with Iran. But Tehran dismissed this comment as "fakenews".
Gulf stocks mixed after Iran denies US talks, Qatar continues decline
Gulf stock markets were unable to find direction during early trading Tuesday. Qatar's fall was exacerbated by mixed messages about U.S.Iran talks following President Donald Trump's decision to delay strikes on Iran's energy infrastructure. Trump made his decision on Monday based on what he called productive discussions with Iranian officials.
Total CEO: Iran war disruption that goes beyond 3-4 months is a systemic threat to the global economy
Patrick Pouyanne, CEO of TotalEnergies, said that a 'disruption in global energy supply from the U.S. and Israeli?war against Iran? lasting beyond three to four months would pose a serious systemic risk for the global economy. Pouyanne, speaking at the CERAWeek conference in Houston, said that the disruption of global fuel supplies…
UAE's ADNOC Gas adjusts LNG production in response to the shipping disruption
ADNOC's gas subsidiary, the state-owned oil company of Abu Dhabi, announced on Monday that it had temporarily adjusted its production of liquefied natural gas and export traded liquids in response to the ongoing shipping disruptions in Strait of Hormuz. The U.S. and Israeli war against Iran intensified over the weekend, after President Donald Trump warned that he would "obliterate"…
Indian sugar mills hurry to export deals due to record low rupee and rising global prices
Five dealers said that Indian sugar mills are now exporting again, with 100,000 metric tons in one week, after the rupee fell to a new record low, and the global price rally restored the economics for overseas sales. Shipping from the world's second largest sugar producer will allow Asian and African consumers to get sugar at lower rates…
UAE shares fall on Iran's warning of retaliation against Gulf water and energy infrastructure
The stock markets of the United Arab Emirates fell on Monday, 'after Iran warned that it would attack energy and water infrastructure in the Gulf region if U.S. president Donald 'Trump followed through with a threat to attack its electricity grid. Trump threatened on Saturday to "obliterate", Iran's nuclear power plants, if Tehran does not reopen the Strait of Hormuz in 48 hours.
UAE's ADNOC Gas adjusts LNG production in response to the shipping disruption
ADNOC's gas subsidiary, Abu Dhabi’s state oil firm, said on Monday that it had?made temporary adjustments? to its production of liquid?natural gas? and export-traded liquids? in response?to?the?ongoing shipping disrupt?ion in the Strait of Hormuz. Iranian officials responded by saying that if they were attacked, they would 'close…