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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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Aramco requests dual loading nominations from buyers amid the Hormuz Crisis, sources claim
Multiple sources have confirmed that Saudi 'Aramco asked buyers to provide a crude loading plan for its main 'export terminal in Ras Tanura and Yanbu at the Red Sea for shipments scheduled for April, as the U.S. Iran conflict has disrupted exports out of the Middle East. The U.S.
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EUROPE GAS - European gas prices increase on fear of LNG shortage
LONDON - Benchmark European wholesale gas prices increased on Wednesday morning after reports that Iran had laid mines along the 'Strait of Hormuz' raised concerns about liquefied gas supply. The conflict in the Middle East would also last a lot longer than expected. ICE data shows that the Dutch front-month contract…
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OPEC data show that Russian oil production fell by 56,000 bpd during February.
According to a copy of OPEC's monthly data, reviewed on Wednesday, Russian oil production fell by around 56,000 barrels a day or 0.6% in February compared to?January, bringing it down from 9.184 million bpd. The U.S. has imposed pressure on India, Russia's second largest buyer, to reduce crude oil exports.
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S&P warns that the surge in energy prices could affect Hungary's credit rating
S&P's top analyst warned on Wednesday that Hungary's investment grade credit rating may be threatened if energy prices continue to rise. Frank Gill, S&P’s lead sovereign analyst for EMEA, said that if gas prices were to rise as they did after Russia invaded Ukraine in 2022, it would cause a severe deterioration of Hungary’s current account…
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Peru approves environmental studies for Buenaventura Copper Project worth $3.4 billion
The state certification office of Peru announced that the country approved an environmental study on Wednesday for Buenaventura…
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BP and Chevron top the list of bidders at a small US Gulf of Mexico gas and oil auction
According to a U.S. government livestreamed auction, BP's single bid accounted for almost half of the total. The U.S. Bureau…
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India warns its consumers to conserve energy and not panic about gas shortages
India, the second largest importer of LPG in the world, asked its consumers to conserve energy and not panic over gas supplies.
Latest news
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Gazprom claims that TurkStream pumping stations and other facilities were attacked
Gazprom reported Wednesday aerial attacks against its southern Russian facilities, including the Russkaya Pumping Station…
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India's kitchens are forced to stop cooking hot food because of a shortage of cooking gas
As a result of the Middle East conflict, cooking gas is in short supply across the country. To make LPG (liquefied Petroleum Gas) last longer…
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EU considers gas price cap as a way to control rising energy costs
The European Union is considering measures to?reduce energy prices. This includes capping gas price, said European Commission…
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US Energy Department blames its staff for an errant Navy escort Post
A spokesperson for the U.S. Department of Energy allegedly posted a message on Energy Secretary Chris Wright’s official X page on Tuesday…
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SLB warns that Middle East disruptions will impact first-quarter earnings
SLB, an oilfield services firm, said that escalating tensions in the Middle East would affect its first-quarter earnings and revenue by 6 to 9 cents.
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Uniper CEO: We are protected from the latest Middle East energy crisis
Michael Lewis, CEO of the German utility, told analysts that Uniper does not purchase liquefied gas from the Middle East, where the 'U.S.
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Palm oil closes higher as Chicago soyoil strength and crude oil rally boost prices
Malaysian palm futures closed higher on Wednesday, supported both by the stronger soyoil market in Chicago and rising crude oil prices.
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From July, Ukraine's motor gasoline will contain at least 7 percent bioethanol
A law passed on Wednesday requires that Ukrainian motor fuel?contain at least 7% bioethanol by July. This is an increase…
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets or stocks in France and Benelux. The French electric utility company…
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Japan's weakness on energy is brought to the forefront as Middle East crisis worsens, says REI chair
The chair of the Renewable Energy Institute stated that Japan must do more to reduce their reliance on fossil fuels after…
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The rate signal is muddied by the surge in India swap rates amid global turmoil
The surge in Indian overnight index swap (OIS), which is normally a key indicator of policy rate expectations, overstates…
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Brazil's Raizen reaches deal for out-of-court debt restructuring, O Globo reports
Local newspaper O Globo on Tuesday reported that Brazilian sugar and ethanol producer Raizen had reached an agreement?with…
Shale Oil & Gas
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Aramco requests dual loading nominations from buyers amid the Hormuz Crisis, sources claim
Multiple sources have confirmed that Saudi 'Aramco asked buyers to provide a crude loading plan for its main 'export terminal…
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Sakhalin-1, a Russian oil refinery, will reduce output by 10% by 2025
The U.S. abandoned the 'Sakhalin-1' project in Russia, which was a major oil production facility. ExxonMobil's major ExxonMobil…
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets or stocks in France and Benelux. The French electric utility company…
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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From July, Ukraine's motor gasoline will contain at least 7 percent bioethanol
A law passed on Wednesday requires that Ukrainian motor fuel?contain at least 7% bioethanol by July. This is an increase…
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Japan's weakness on energy is brought to the forefront as Middle East crisis worsens, says REI chair
The chair of the Renewable Energy Institute stated that Japan must do more to reduce their reliance on fossil fuels after…
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Brazil's Raizen reaches deal for out-of-court debt restructuring, O Globo reports
Local newspaper O Globo on Tuesday reported that Brazilian sugar and ethanol producer Raizen had reached an agreement?with…