Mike Dolan: The ROI-Gulf War rattles the petrodollar Foundations
No matter what the outcome of this war is, the question for the Gulf's oil-rich economies will remain: "Is the U.S. umbrella worth the cost?" Since U.S., Israel and other countries launched attacks on Iran…
Equinor CEO: EU unlikely to increase Russian Gas Imports
Anders Opedal CEO of Norway's Equinor said on Tuesday that the European Union is unlikely to increase Russian gas imports in order to offset Middle East supply disruption as long as Russia's 'war' with Ukraine continues.
Total CEO: Iran war disruption that goes beyond 3-4 months is a systemic threat to the global economy
Patrick Pouyanne, CEO of TotalEnergies, said that a 'disruption in global energy supply from the U.S. and Israeli?war against Iran? lasting beyond three to four months would pose a serious systemic risk for the global economy.
Iranian strikes burn oil tankers, despite Trump's claims to have won war
Two oil tankers caught fire in an Iraqi harbor on Thursday, after being hit by a boat suspected to be laden with explosives. This was a new attack that has cut off Middle East oil and defied Donald Trump’s…
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.
US-Israeli War on Iran Causes Major Oil, Gas Disruptions
Kuwait announced?cuts at the weekend due to the U.S. and Israel war against Iran. Analysts predict the United Arab Emirates (UAE) and Saudi Arabia, which are running out of oil storage, will have to reduce their output as well.
Oil derivatives indicate traders view Middle East shocks as short-lived
Oil futures and options are signaling that the Middle East conflict could be short-lived as traders rush to?structures which profit from a decline in prices following the initial spike. The options and…
India's MRPL Declares Force Majeure on Fuel Exports as Iran Conflict Disrupts Crude Supplies
India's Mangalore Refinery and Petrochemicals has suspended fuel exports due to the Middle East conflict that has disrupted crude oil flows from the Gulf, two sources familiar with the matter said on Wednesday.The…
Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ will likely consider?raising their oil output by 137,000 barrels a day for April. Three sources familiar with OPEC+'s thinking stated that the group is preparing for the peak summer demand as well…
Sources: Saudi Arabia increases oil production and exports to prepare for a US attack against Iran
Saudi Arabia has increased its oil exports and production as part of an emergency plan, in case a U.S. attack on Iran disrupts Middle East supplies. Two sources familiar with this plan told Reuters on Wednesday.
Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ is likely to consider raising its oil production by 137,000 barrels a day in April, according to three sources familiar with OPEC+'s thinking. The group is preparing for the peak summer demand, and tensions between the U.S.
Transneft Cuts Crude Oil Intake After Ukrainian Drone Attack
Russia's oil pipeline monopoly Transneft has cut crude intake into its system by some 250,000 barrels per day after a Ukrainian drone attack on its Kaleykino pumping station on Monday, two sources familiar…
Ukraine Delays Druzhba Oil Deliveries Again
Ukraine has told Slovakia's oil pipeline system operator Transpetrol that the resumption of oil deliveries via the Druzhba pipeline has been delayed by another day to February 26, Slovakia's country's economy ministry said on Tuesday.The ministry…
MOL Orders Alternative Oil to Supply Hungary, Slovakia Refineries
Hungary's MOL group has ordered tankers delivering Saudi, Norwegian, Kazakh, Libyan and Russian oil to supply its Hungarian and Slovak refineries and halted diesel supplies to Ukraine as it scrambles to overcome an outage of the Druzhba pipeline, off
Czechia Offers Limited Oil to Slovakia After Ukraine Pipeline Attack
The Czech Republic is offering small volumes of oil to Slovakia through an eastward flow of the Druzhba pipeline after westward flows from Ukraine were stopped after an attack on the pipeline last month, Czech Economy Minister Karel Havlicek said on
EU: Hungary, Slovakia to See No Short-Term Oil Supply Risk
The European Commission sees no short-term risk to the security of oil supplies in Hungary or Slovakia following the disruption of Russian oil flows via Ukraine because both EU countries have ample emergency stocks…
Hungary, Slovakia Turn to Croatia to Secure Russian Oil
Hungary and Slovakia have asked Croatia to help them secure Russian oil and Hungarian company MOL initiated the release of strategic crude reserves after disruption to flows via Ukraine that the two countries…
Oil Prices Rise on U.S.-Iran Tensions
Oil prices steadied on Wednesday after rising earlier in the session after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation in…
Shipping data shows that Indian diesel exports to West Africa have increased as a result of the EU's ban on Russian crude-derived fuel.
Shipping data from Kpler & Vortexa revealed that India stopped exporting Diesel to the European Union in this month because of the EU's 'ban' on fuels derived from Russian crude. Turkey's exports of diesel…
Indian Diesel Exports to West Africa Jump as EU Bans Russian Derived Fuel
India stopped exporting diesel to the European Union this month due to the European Union's ban on fuel derived from Russian crude and instead sent a record amount to West Africa, shipping data from Kpler and Vortexa showed…