Shell warns Australia about taxing LNG windfall profit
Shell has warned Australia not to introduce a windfall charge on gas exporters. It said that such a tax would 'deter investment' and 'undermine energy security, as LNG prices are surging following the disruption of global supplies due to the Iran War. The conflict in the Middle East has caused the supply of LNG to drop, and Australia is now the second largest LNG supplier. Its export revenues are expected to increase due to the lower supply. Canberra is said to be weighing up options to capitalize on the higher prices.
Egypt and Cyprus Sign Framework Agreement for Cooperation on Gas
On Monday, Egypt and Cyprus signed a framework for?cooperation in gas during the Egypt 2026?Energy?Show. A spokesperson for the Cypriot Presidency said that the nonbinding agreement would be the basis on which the two countries could negotiate further agreements to exploit Cyprus' reserves. A Cypriot official said that the agreement would allow Egypt and Egypt's state-owned firms to purchase natural gas from Cyprus's offshore Kronos and Aphrodite fields.
Minister says India is boosting its renewable energy efforts amid disruptions in gas supplies
India's junior energy minister stated that the U.S. and Israel?war on Iran? has led to a "gas shortage". Gas accounts for just 2% of India’s total electricity generation. However, during heatwaves or peak demand periods the country consumes about 8 gigawatts (GW) of power from gas. The Middle East Crisis has caused a volatility in the price and availability of natural gas. The generators are looking for alternative sources, Shripad Naik, the junior power minister of India said.
Oil rally fails to boost drilling as services firms are squeezed
Oilfield services firms around the world are bracing themselves for a 'hit to their earnings, as the Iran War disrupts energy infrastructure in the Middle East. Producers will hold off on new drilling until the higher oil prices have been proven durable. Brent benchmark prices are up 53% from February 27, the day before U.S. and Israel began their strikes against Iran. This makes oil and gas projects much more profitable and increases demand for crews and rigs.
Palm oil rises in third session due to firm Chicago crude, soyoil and exports
Malaysian palm oil futures rose on Monday for the third consecutive'session,' boosted by higher Chicago soyoil & crude oil prices. Meanwhile, robust export figures continued to support a positive market sentiment. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery was up 36 Ringgit or 0.78% at 4,667 Ringgit ($1,160.95). David Ng is a proprietary 'trader' at Kuala Lumpur based trading firm Iceberg X Sdn Bhd. The recent strong export performance also lifted the sentiment higher.
Prime Minister says that the economics of New Zealand’s LNG terminal must be solid to give it approval.
New Zealand's plans to build a terminal for liquefied gas imports are in doubt. Prime Minister Christopher Luxon said on Monday that the government would only approve the project "if the business case was strong". The?government?selected contractors in February to build the facility at Taranaki on the North Island of the country. The terminal was to be ready for LNG by 2027 or 2028. The project was announced by the government in 2025 as a way to improve energy security for the country and reduce costs.
Chevron estimates repairs at Wheatstone gas plant will take weeks
The company stated on Sunday that it is likely to take several weeks for the Wheatstone Liquefied Natural Gas facility in Western Australia to fully resume production as they repair damage caused by the cyclone last week. The Australian LNG supply was disrupted by Cyclone Narelle, a disruption of more than 30,000,000 metric tons per annum. Saul Kavonic, MST Marquee analyst, said on Friday that the Middle East conflict and the cyclone Narelle have combined to disrupt more than a quarter of global LNG supply.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Ex-Tropical cyclone Narelle, which has been affecting Australia's Queensland state and Northern Territory since March 20, further affected production at two of Australia’s largest liquefied natural gas plants. The storm system was waning in the country's northwestern region. Narelle, which has been sweeping across Australia's Queensland and Northern Territory state since it made landfall on March 20 as a Category 4 tropical cyclone, hit Western Australia on Friday, affecting LNG plant run by Woodside and Chevron.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Narelle, the former tropical storm that weakened in Australia's north-west, continued to disrupt production at two of Australia’s largest liquefied?gas plants Saturday. Narelle, the category four tropical storm that has been ravaging Australia's Queensland and Northern Territory ever since it made landfall on?March 20th, hit Western Australia Thursday. It affected LNG plants operated by Chevron, Woodside, and others. The impact of the storm exacerbated an existing global supply crisis caused by the Iran War.
Zelenskiy: Ukraine reaching agreement on Middle East diesel supplies
The Ukrainian president Volodymyr Zelenskiy stated on Friday that Kyiv is working to reach an agreement with Middle Eastern countries on diesel supplies, the type of fuel most in demand in the country. Zelenskiy spoke to a Ukrainian TV interviewer during a Middle Eastern tour. He had earlier said that Ukraine and Saudi Arabia had signed a defence cooperation agreement which lays the 'foundation for future contracts, technical cooperation and investment.
Inpasa, a corn ethanol producer, opens a new plant in Brazil
Inpasa, a corn ethanol producer in Brazil's Bahia State, announced?that it had started operating at its new facility. It aims to produce 470 million liters of biofuel per year. In an interview, Gustavo Mariano said that the plant was now operational and the company would have a supply within a few days. In recent years, corn ethanol production has increased dramatically in Brazil. This is a long-controlled industry by sugarcane farmers. Inpasa, which has plants in Paraguay & Brazil,?has expanded rapidly.
The Russian government has announced that the ban on gasoline imports will be implemented from April 1.
The Russian government reported that Alexander Novak, the Deputy Prime Minister of Russia, had instructed his energy ministry on Friday to draft a resolution banning gasoline exports as of April 1, 2019. The state-run TASS reported earlier that the ban will remain in effect until July 31. Novak stated that the turmoil on 'the global oil market and its products, which is caused by a crisis in the Middle East has led to significant price changes. He also said that the demand for Russian energy resources on foreign markets is high.
Oil rally fails to boost drilling as services firms are squeezed
Oilfield services firms around the world are bracing themselves for a drop in earnings, as the Iran War?disrupts the energy infrastructure throughout the Middle East. Producers will hold off on new drilling until the higher oil prices have been proven to be durable. Brent's benchmark price has risen 53% in the past two months, just one day before Israel and the U.S. launched their strikes against?Iran. This makes oil and gas projects much more profitable and increases demand for crews and rigs.
Expana raises EU sunflower production forecast amid rising energy costs
Expana maintained its forecast of European Union 'rapeseed production in 2026 as?20.8 millions metric tons but increased?its forecast on?sunflower, as farmers turn to the less energy and fertiliser consuming crop amid rising prices. In a report published monthly, the consultancy increased its forecast of EU sunflower seed production for 2026/27 from 9.9 million metric tones in February. In the case of soybeans, it reduced its estimate from 3.2 to 3.1 millions tons.
West African Crude Flows Slow; Sellers Hold Cargoes Amid Hormuz Closure
West African crude oil trade for April-loading cargoes has slowed, despite shortages caused by the Iran war, as sellers reserve barrels for their own refineries unless particularly high bids emerge, four crude traders told Reuters.The unusual development is another sign of how the U.S.-Israeli war against Iran, which has effectively shut tanker traffic through the Strait of Hormuz and forced Middle East producers Saudi Arabia…
Russia's Threatens to Divert LNG Cargo From Europe, Options Limited
Russia's threat to halt liquefied natural gas (LNG) deliveries to Europe and divert cargoes to Asia would prove difficult to achieve because of its long-term contracts and need for more Arctic-class tankers, industry analysts said.President Vladimir Putin said in a TV interview early in March that Russia could stop gas supplies to Europe with immediate effect and seek longer-term commitments from other buyers.The impact of the U.S.-Israeli war on Iran has caused a surge in gas prices…
Official: Fuel and fertiliser price increases do not threaten Ukraine’s spring crop sowing
The deputy minister of Ukraine's economy said that a sharp rise in fuel prices and fertilizer due to the Iran War is not expected to disrupt Ukraine's spring planting of?grains? and other crops. Ukraine is one of the world's largest producers of grains and oilseeds, generating $22 billion in revenue from exports in 2025. However, its crop yields are heavily dependent on fertiliser usage. He added that the additional cost to farmers does not compromise the campaign.
Palm futures post fourth consecutive weekly gain
After losses earlier in week, Malaysian palm futures posted a fourth weekly gain. A softer ringgit helped support the market. However, uncertainty about the Middle East war and crude oil outlook capped gains. At close, the benchmark June palm oil contract on Bursa Malaysia's Derivatives exchange rose 47 ringgit or 1.03% to 4,630 Ringgit ($1,154.04) per metric ton. The contract?advanced by 0.41% in the past week. Paramalingam Supramaniam is a director of Selangor brokerage Pelindung Bestari.
EUROPE GAS - European gas prices rise on the back of oil gains and low stock levels
The benchmark British and Dutch wholesale gasoline prices rose on Friday morning. This followed a rise in oil prices despite the fact that U.S. president Donald Trump had extended a pause to attacks against Iran's energy plants. The benchmark 'Dutch front month?contract was up 0.572 euro at 55.79 Euro per megawatt-hour (MWh) or about $18.80 a mmBtu at 0913 GMT. ICE data shows that the British April contract is now 140.13 pence for every?therm. This represents a 1.53-penny increase.
Taiwan freezes its electricity rates to maintain the industry's competitiveness and stabilize prices
The economy ministry announced 'on Friday that Taiwan won't raise its electricity prices for the time being, despite the fact that energy prices are higher due to the Middle East war. This is to maintain price stability and to keep the industrial competitiveness. The government is trying to limit price increases for consumers across the board to help reduce the impact of rising energy prices internationally, including heavily subsidising energy.