Zelenskiy calls on allies to continue pressure on Russia before talks with US
The Ukrainian president Volodymyr Zelenskiy urged his allies on Sunday to continue to exert sanctions and pressure on Russia. This comes ahead of the'second day' of talks between Ukrainian?and U.S.?delegations to discuss ways…
CERAWeek, the energy conference in Houston, returns as Iran's conflict shakes global energy markets
Next week, the world's top energy executives? will return to Houston as the escalating U.S. - Israeli war on Iran has turned into a nightmare for global energy markets. Unprecedented attacks?on infrastructure? and shipping disruptions…
Energy Minister: Australia's fuel supply is strong and there are no plans to ration it
Chris Bowen, Australia's Energy Minister, said that the country's fuel supply is strong and there are no immediate plans to restrict fuel to deal with the Iran 'war'' impact on its'supply chain'. As the U.S./Israeli conflict escalates, Australia has seen localised fuel shortages.
Egypt has announced that it will pay arrears of $1.3 billion to oil companies in June
The petroleum ministry announced on Saturday that Egypt would pay $1.3 billion in arrears owed to international oil companies by June. This is a significant acceleration of the previous timetable. Egypt had accumulated arrears…
Oil Prices Drop 8% Ahead of Possible Middle East Peace Talks
Oil prices dropped about 8% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days and cited constructive talks to resolve hostilities in the Middle East…
Energy Prices Jump After Iran Attacks Qatar LNG Plant
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel…
Saudi Red Sea Oil Exports in March Rise to 3.8 Million bpd
Saudi Arabia's crude oil loadings at its Yanbu port on the Red Sea are set to surge to a record 3.8 million barrels per day (bpd) in March, shipping data showed on Wednesday, after the U.S.-Israeli war on Iran effectively shut exports via the Strait of Hormuz.The kingdom…
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…
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…
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 3.7% if a war with Iran continues through this year. New Zealand's inflation rate rose by 3.1% over the past 12 months…
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. The rapid tightening in the markets for refined products in Asia is a greater concern. Major…
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 making any final investment decisions on the $44 billion Alaska LNG project. Brendan Duval, CEO of Glenfarne…
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 Ecopetrol?over?the Antonio Ricaurte?pipeline. He claimed that there was not enough?investment in its repair.
Japan Industry Ministry asks Australia for increased LNG production amid Iran Crisis
Japan's Industry Minister Ryosei AKazawa?on Saturday asked Australia to increase its output of liquefied gas in light of the Middle East crisis. Around 11% of Japan's LNG imports come from the Middle East, and 6% of that is shipped through the Strait of Hormuz.
JERA seeks more LNG to hedge growing Middle East risk
JERA, Japan's largest liquefied gas buyer, has begun discussions with global suppliers about possible additional purchases to protect against Middle East supplies worsening. This is despite a major LNG supplier saying the price spike would be short-lived.
BP's Kaskida project is approved by the US, a spokesperson said.
A company spokesperson said in an emailed statement sent late Friday that the Trump administration has approved the Kaskida Project in the Gulf of Mexico. The $5 billion investment would unlock 10 billion barrels in resources…
Japan's minister claims that Europe has done Tokyo a favor by releasing oil stocks.
Ryosei Acazawa, Japan's Minister of Industry, said that Europe did Japan a favor by agreeing to a joint release of oil stockpiles this week in order to reduce the price spikes and'supply crisis' caused by the Iran War. The International…
Venture Global CEO: Global LNG price volatility is'very short term' according to Venture Global
Mike Sabel, Chief Executive Officer of Venture Global, said that the volatility in liquefied natural gas prices caused by the Middle East crisis was "very short-term". QatarEnergy LNG plants are now shut down, affecting 20% of the global LNG supply.
BP revised its Whiting oil refinery offer after unions rejected the proposal
BP issued a revised offer of a contract to its union?workers in its Whiting, Indiana oil refinery. This was after members of the United Steelworkers overwhelmingly refused what the 'company' had described as its "last, best and final" -proposal.
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 Qatar's strong balance sheet and its plans to increase LNG production should help cushion the impact of the escalating Middle East conflict. The U.S.