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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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Ukraine Looks to Partner With Romania to Develop Black Sea Gas Discovery
Ukraine's Naftogaz, which discovered "substantial" offshore gas reserves in the Black Sea before Russia's invasion, is in talks with Romania's OMV Petrom to form a partnership relating to the field, three industry sources told Reuters.The sources did not indicate the amount of recoverable gas at the discovery…
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Oil Production Impacts in the Middle East
Most western oil and gas majors have significant operations in the Middle East, where the U.S.-Israeli war on Iran has disrupted oil and gas shipping and halted some output.France's TotalEnergies, which has the biggest upstream exposure to the region compared with its global output…
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Cuba Reconnects Electrical Grid, Millions Remain Powerless
Cuba has reconnected its electrical grid across much of the island, the Energy and Mines Ministry said early on Tuesday, just hours after U.S. President Donald Trump escalated his rhetoric against the communist-run island, saying he could do anything he wanted with Cuba.Cuba's national electric grid collapsed on Monday…
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Oil Prices Rise As Iranian Attacks on UAE Continue
Oil prices rose more than 1% on Tuesday, as renewed Iranian attacks on the United Arab Emirates heightened concerns about the worsening outlook for global supply if there is no quick resolution to U.S.-Israeli war on Iran, now in its third week.Brent crude futures gained $1.33, or 1.3%, to $101.53 a barrel by 1515 GMT while U.S.
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Indian LPG Sales Trickle Due to Hormuz Shipping Disruptions
Indian state fuel retailers' sale of liquefied petroleum gas (LPG) slowed in the first half of March, preliminary data showed, as the country reels fr
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UAE Output of Crude Drops, Strait of Hormuz Closure Forces Shut-Ins
The United Arab Emirates' daily oil output is down by more than half as the Iran conflict and the effective closure of the…
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UN Climate chief: Iran war a'simple lesson' in fossil fuel dependency
The U.N. Climate Secretary will inform EU policymakers that the disruption of energy markets caused by the Iran War is an…
Latest news
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EU scrambles for energy cost reductions as Iran war hits the markets
Energy ministers from the European Union will meet on Monday to discuss options for reducing 'energy costs. Officials are…
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China crude oil production in January and February was up by 1.9% on an annual basis.
Official data released on Monday showed that China's crude oil output in January and February rose by 1.9% when compared…
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The ruling party of South Korea says that the country will lift its coal cap and increase nuclear production amid the Iran crisis.
South Korea's ruling Democratic Party announced on Monday that the government would lift limitations on coal-fired power…
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Hindalco stops production of aluminium extruded products because of the Iran War, says notice
Hindalco Industries, an Indian company, has halted the production of value-added extruded aluminum due to a gas shortage…
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New Zealand predicts 3.7% inflation if the Iran war continues through the year
New Zealand's Finance Minister Nicola Willis stated on Monday that the country's treasury forecasted an inflation rate of…
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Russell: The war in Iran has a greater impact on refined fuels than crude oil and importers must act.
Media attention is focused on the loss of up to 20% of crude oil and refined fuels due to the continued closure of the Strait of Hormuz.
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Hindalco stops production of aluminium extruded products because of the Iran War, notice states
Hindalco Industries in India has halted the production of extruded aluminum, a high-value aluminium product due to a shortage…
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Alaska LNG CEO: We need more commitments to offtake before we make a final investment decision.
Glenfarne, an energy developer, must secure agreements to purchase a further 3 million metric tonnes of liquefied gas before…
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Colombia: Venezuela's PDVSA intends to terminate pipeline contract with Ecopetrol
Edwin Palma, Colombia's Energy?Minister, said Venezuela's PDVSA state oil?company intends to terminate a contract with Colombia…
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Rwanda warns that it may withdraw troops to Mozambique’s Cabo Delgado, which is a heavily insurgent area.
Rwanda has indicated that it may withdraw its troops from the?Mozambique province of Cabo Delgado, where they?help to counter…
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Fitch confirms Qatar's credit rating and says that the strong LNG push will help to reduce conflict risks
Fitch Ratings confirmed Qatar's long term foreign currency rating as "AA" with a "stable outlook" on Friday. It said that…
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Palm oil gains over 4% on the back of higher crude oil prices
Malaysian palm futures gained on Friday and posted a second week of gains. This was due to a rise in crude oil prices as…
Shale Oil & Gas
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Hindalco stops production of aluminium extruded products because of the Iran War, notice states
Hindalco Industries in India has halted the production of extruded aluminum, a high-value aluminium product due to a shortage…
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Alaska LNG CEO: We need more commitments to offtake before we make a final investment decision.
Glenfarne, an energy developer, must secure agreements to purchase a further 3 million metric tonnes of liquefied gas before…
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Colombia: Venezuela's PDVSA intends to terminate pipeline contract with Ecopetrol
Edwin Palma, Colombia's Energy?Minister, said Venezuela's PDVSA state oil?company intends to terminate a contract with Colombia…
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 gains over 4% on the back of higher crude oil prices
Malaysian palm futures gained on Friday and posted a second week of gains. This was due to a rise in crude oil prices as…
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Palm oil is set to record a weekly gain as it rises against strong Dalian competitors
The price of Malaysian palm oils rose on Friday and was set to gain for a?second week in a row, as the prices of rival edible…
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Document shows that eight countries have warned the EU against a weakening of carbon markets
Spain, the Netherlands, and six other countries have urged the European Union to not dismantle the emissions trading system of the bloc…