Bloomberg News: Trump will invoke emergency law to protect California oil producer Sable
Bloomberg News reported that U.S. President Donald Trump intends to invoke the 'emergency laws' for Sable Offshore in order to restart production from a cluster of offshore platforms located in California. A person familiar with this matter was quoted as saying so.
India is ready to support the oil markets after IEA releases record-breaking release
India announced 'on Wednesday that it is ready to support the global oil'markets, in line with the International Energy Agency releasing a record 400,000,000 barrels - of oil in an effort to tame the prices which have risen following the U.S./Israeli war against Iran.
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 - one of the largest mining firms in Peru - to proceed with its southern Trapiche Copper Project with an estimated investment amounting to $3.4 billion.
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 of Ocean Energy Management conducted the sale. It was a far less successful one than the previous auction three months earlier.
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…
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, which incorrectly stated that the U.S. Navy escorted a tanker through the Strait of Hormuz.
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. Energy companies are moving to protect their personnel and facilities throughout the region.
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. and Israeli attacks against Iran' have caused price spikes in oil and gas. Lewis, speaking after the group's annual results were published…
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. At the close, the benchmark 'palm oil contract' for May delivery at the?Bursa?Malaysia Derivatives Exchange rose 71 ringgit (1.6%)…
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.
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.
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 continued to decline last year. It fell by 10.3% due to planned maintenance. The production volume…
Palm oil prices rise on the back of a weaker ringgit and Chicago soyoil price strength
Malaysian palm oil futures rose on Wednesday due to a softer ringgit and the stronger soyoils traded in Chicago. By midday, the benchmark palm oil contract for May delivery on the?Bursa Derivatives exchange had gained 32 ringgit or 0.72% to 4,460 Ringgit ($1,137.46).
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 the impact that 'the Iran War and higher oil costs will have on domestic monetary policies. India's OIS…
Gulf of Mexico Oil and Gas Auction yields Far Fewer Bids Than First Trump Sale
According to a document posted on the government's website, the second auction of oil and natural gas leases in the Gulf of Mexico by the Trump administration in three months drew far less interest from the industry than the one held in December.
Patterson-UTI, an oilfield services firm, says that higher oil prices won't spur more US production.
Andy Hendricks, CEO at?oilfield service company 'Patterson-UTI', stated on Tuesday that a surge in energy costs caused by the war between the United States and Israel with Iran would not lead to an increase in U.S. production of oil without the necessary market predictability.
LNG Canada increases production as Iran's war threatens global supplies
LSEG data shows that LNG Canada, a Shell venture, has increased production and exports to Asia in the past month. This is because 'the iran war' threatens Asian gas supplies, which are especially vulnerable to global disruptions.
EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
?U.S. The Energy Information Administration (EIA), in its Tuesday Short-Term Energy Outlook, said that power consumption will continue to rise in 2026-2027. The EIA projects that the power demand in 2025 will reach a record of 4…
EIA: US natgas production to reach record highs in 2026 while demand declines
The U.S. Energy Information Administration said in its short-term energy outlook on Tuesday that U.S. gas production will reach a record high in 2026 while demand will decrease. EIA predicted dry gas production would rise from…
LNG Canada increases production as Iran's war threatens global supplies
LNG Canada, a Shell venture, increased production?and exported to Asia in this month. LSEG data shows that the Iran 'war' threatens Asian natural gas supply, which is particularly vulnerable to disruptions on a global scale.