India buys Iranian oil for the first time in seven years without any payment issues
The oil ministry announced on Saturday that Indian refiners had purchased Iranian oil?amid a Middle East conflict which has?disrupted supplies via the Strait of Hormuz. India, the world's third largest oil importer and user, hasn't received a shipment from Tehran since May 2019.
US intelligence warns Iran is unlikely to ease its chokehold on the Hormuz Strait soon, according to sources
According to three sources familiar with the issue, recent U.S. Intelligence reports have warned that Iran is unlikely to open up the Strait of Hormuz anytime soon as its grip on this world's most important oil artery gives it…
VEGOILS - Palm closes on 15-month-high, logs 5th straight weekly gain
Malaysian palm futures rose almost 1% on Friday, logging a fifth consecutive weekly gain, driven by expectations for lower inventories and Indonesia's plans to produce B50 biodiesel, as well as heightened Middle East tensions.
Russia's oil revenue fell 43% year-on-year in March, according to the Finance Ministry
According to data released by the Finance Ministry on Friday, Russian state oil and gas revenues declined in March by a whopping '43%, to 617 billion Russian roubles (US$7.72 billion), compared to the same period a year earlier.
South Korea and France agree to intensify defence cooperation amid Middle East conflict
South Korean President Lee Jae Myung said that he and French President Emmanuel Macron planned to 'boost defence co-operation and work together in order to address 'the economic and energy crisis triggered by war i Iran. After a visit to Japan…
Palm oil to rise for fifth week on lower stock expectations and biodiesel optimism
Malaysian palm oil futures were up on Friday and headed for a fifth consecutive weekly gain. This was due to expectations of lower inventories, Indonesia’s B50 biodiesel plans, and increased Middle -East tensions. By midday,…
Bangladesh reduces working hours in order to save energy during Middle East crisis
Bangladesh has taken new measures to reduce energy consumption, including cutting office hours and reducing public spending. Conflict in the Middle East is disrupting global fuel markets and straining power supply across South Asia.
Golden Pass LNG to load its first export cargo in Texas amid record feedgas consumption
According to a trading resource and LSEG ship tracking data, the HL Sea Eagle LNG tanker is expected to arrive at Golden Pass Export Terminal in Texas on the 20th of April to load the first cargo for export from the plant. LSEG…
Sources say that oil giants have shown early interest in US Gulf Deepwater Field stake
TotalEnergies, a European energy giant, and Shell are among the companies that want to buy a majority stake at one of?U.S. Three sources familiar with the process have said that the Gulf is one of the most promising sites. This…
After Trump's threats to attack Iran, the price of oil in the near-term has reached a record high compared with later deliveries.
U.S. crude futures for immediate next-month delivery hit their highest-ever premium on Thursday as traders scrambled to secure barrels following Donald Trump's pledge to?continue?attacking Iran. Backwardation, or the trading…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, a?energy services firm?, said on Thursday that U.S. firms added to the number of oil and gas rigs operating for the first time since three weeks. The number of oil and 'gas rigs, an early indicator for future production, increased by five in the week ending April 2.
Sources say that RPT-Italy will get LNG from QatarEnergy's US Golden Pass in June
Two sources with knowledge of the matter have confirmed that Italy will start receiving liquefied gas (LNG), from a facility called 'Golden Pass LNG,' in the United States. This is a joint venture between QatarEnergy, Exxon Mobil and other companies.
Sources say that Italy will get LNG from QatarEnergy's US Golden Pass in June.
Two sources with knowledge of the matter have confirmed that Italy will start receiving liquefied natural gas (LNG), from the Golden Pass LNG plant in 'the United States. This is a joint venture between QatarEnergy & Exxon Mobil.
Italy to Receive LNG From US Golden Pass Facility Starting June
Italy will begin receiving liquefied natural gas (LNG) from the Golden Pass LNG facility in the United States, a joint venture between QatarEnergy and Exxon Mobil, from June, two sources familiar with the matter told Reuters.The…
Verbio CEO: Middle East war drives demand for local biofuel
Verbio's chief executive said that the rising fuel prices are "extraordinarily advantageous" for its biofuel producer. The company is experiencing a rise in demand as countries and companies look to cut energy costs and secure supplies.
Palm prices rise on Mideast unrest and weak supply outlook
Malaysian palm futures rose a day after falling in the previous session. This was boosted by the uncertainty surrounding the Middle East conflict and the expectation of a fall in March's output. The benchmark palm oil contract…
Sources say that OPEC+ is likely to increase oil production on Sunday.
Two OPEC+ source said that OPEC+ will likely consider a new oil production increase at their meeting on Sunday. This would allow key producers to 'add more barrels' if the Strait of Hormuz reopens, the world’s most important…
Bangladeshi farmers try solar irrigation when fuel prices rise
Experts say that installing solar panels in or near?crop fields can provide a "better" alternative to the rising costs of fuel for generators. The technology is still not widely used. According to the Bangladesh Agricultural Development Corporation…
Tesla's China made EV sales increase for the second consecutive quarter
Tesla's China made electric vehicle sales rose for the second consecutive quarter, despite increased competition from the U.S. The automaker has broadened its focus beyond EVs. The China Passenger 'Car Association reported on…
EUROPE GAS-European Gas Prices Rise as Hopes Fade on Quick End to Iran War
Standard Dutch and British wholesale prices for gas rose on Thursday morning, after U.S. president Donald Trump pledged'more aggressive strikes against Iran, without committing to any specific timeline to end the war, worrying…