Asian Countries Rush to Stockpile Oil, Accelerate Renewables Amidst Iran War
Asian countries are racing to raise their oil stockpiling capacity, complete a regional power grid and speed up renewables in response to supply risks laid bare by the Iran war.Southeast Asia has been worst hit by the energy impact as 80% of the oil transported through the Strait of Hormuz from the Gulf flowed to the region before the Iran war began."The most advanced efforts are support for the development of oil stockpiling systems in each country and regional joint stockpiling on (a) voluntary basis…
California allows the sale of fuels with higher ethanol content to reduce gasoline prices
California Governor Gavin Newsom has signed legislation that allows?the?immediate?sale of a higher ethanol fuel blend. This is to curb the skyrocketing prices at the gas pump in America's biggest auto market. On Saturday, the signing of Senate Bill 795 removed the last regulatory hurdle to the sale of E15 gasoline, a blend of gasoline containing 15% of ethanol. This was more than a year since state Senators unanimously approved the move. California was 'the only US State where this fuel could not be purchased.
Wellbred, an oil trader sanctioned by the United States over Iran-related links
As part of its efforts to target Tehran's international financial connections, the United States has imposed sanctions against Singapore-based Wellbred Capital, and its trading companies in?the United Arab Emirates, and Switzerland. On Monday, the Office of Foreign Assets Control of the U.S. Treasury said that this company was linked to Iranian oil shipping magnate Mohammad Hossein Shamkhani. "Shamkhani created?Wellbred outside of the network's Iranian businesses, although?Shamkhani ultimately is responsible for Wellbred?s operations…
Moscow's petrol stations restrict sales due to shortages
According to witnesses and fuel suppliers, Moscow's fuel stations have implemented new limits on gasoline purchases due to fuel shortages caused by Ukrainian drone attacks against refineries as well as strong seasonal demand. Fuel suppliers and witnesses have confirmed that fuel stations in Moscow have imposed limits on gasoline purchases due to fuel shortages linked?to Ukrainian drone attacks on refineries, as well as strong seasonal?demand. In May, shortages began to spread across most Russian regions. By July, however, fuel stations in Moscow had been able to lift restrictions imposed in June.
Kazakhstan talks with Russia to process Russian crude amid fuel shortages in Russia
The Ministry of Energy announced on Thursday that Kazakhstan and Russia are in talks to process Russian oil at its refineries. Products will be sold domestically, then sent back to Russia. The?ministry stated in a press release that "negotiations" are taking place regarding the processing and sale of oil of Russian origin, as well as the exportation of a portion of the product to Russia. The move was said to be made 'to ensure stable capacity utilization?at Kazakh refining plants?and local supplies.
IEA chief: global energy security is at risk if Strait of Hormuz doesn't open within weeks
Fatih Birol, Executive Director of the International Energy Agency, said that if the U.S., and 'Iran, don't increase oil flow through the Strait of Hormuz, the world should be concerned about its energy security. Since the?conflict started on February 28, when U.S. and Israeli attacks on Iran began, the Strait of Hormuz has been largely blocked. Birol stated that despite sharp increases in energy prices, several factors had?moderated this rise. Birol said that despite sharp increases in energy prices, several factors have?moderated the rise.
Germany warns that the EU methane law could disrupt jet fuel supply
Germany, Europe's largest gas market, warned that EU plans to regulate methane emissions for oil and gas imports could disrupt jet fuel supply, already under pressure from the Iran War's energy shock. The?European?Union?will require monitoring and verifying methane emission for fuel deliveries into the bloc. The regulations aim to reduce leaks of this powerful greenhouse gas, but they have been met with strong opposition by industry and suppliers. This includes the U.S. which warned last week that the law will hamper gas deliveries to Europe.
Germany is in discussions to extend the oil reserve exemption, Economy Ministry says
A spokesperson for the German economy ministry said that it is evaluating whether to extend partial release of its oil reserves past this summer. In March, Germany temporarily reduced its stockpiling requirements to participate in an IEA coordinated emergency stock release due to the disruptions in Iran war supplies. The spokesperson said in an email that they were still discussing whether or not there should be a "extension" of the current expiration date of August 31. Germany was among the 32 members of the International Energy Agency who agreed to release 400 million barrels from strategic stockpiles in March…
China's coal region will expand coal to oil output as part of energy security drive
China's coal-producing region is planning to build China's largest 'base' for converting coal into oil and gas, chemicals, and other products to reduce the country's reliance on imported energy. The war with Iran has heightened China's focus on energy security. Inner Mongolia is also China's leading producer of "renewable energy", making it a microcosm for the country's complex energy transition. Its reliance on oil and coal, as well as its relative abundance, are a microcosm for China's energy transition.
Russia warns Armenia that it may stop cheap fuel supplies to Armenia if Yerevan continues EU-course
Russia warned Armenia on Wednesday that it would halt or cancel a deal to supply cheap gas and oil if the country decided to pursue its EU bid. Moscow warned ahead of an election scheduled for June 7, with opinion polls showing the Civil Contract Party of Prime Minister Nikol Pahinyan, who has forged a closer relationship with the West, much to Moscow's annoyance. The Russian Foreign Ministry's spokeswoman, Maria Zakharova, said that the Russian Embassy had sent a letter stating that if the EU accession process continues…
Angola wants to maintain oil production over the next year, says minister
Angola's oil and minerals minister stated on Thursday that it aims to maintain its oil production?steady in the coming year. He added that the higher prices of its crude exports due to the Iran war are helping to offset the increased costs of imported fuels. According to the International Energy Agency, in 2024, Africa left OPEC over a disagreement regarding output quotas. However, since then, production has dropped from 1,16 million barrels of oil per day in 2024, to?1,070,000 bpd by 2025. Many other African countries are heavily reliant upon imported petroleum products.
Vietnam's crude and refined oil supplies amid Iran war
After the Iran War, Vietnam has diversified its oil and refined products supplies. Import costs have risen exponentially, causing a high level of inflation and a trade deficit in the nation that is heavily dependent on exports. Vietnam imports oil to run its refineries. Kuwait supplied 80% of Hanoi's crude oil purchases last year, which was a total of?14,2?million metric tonnes, or 284,000 barges per day. According to Vietnam Customs (and with no shipments for April), imports in the first four-month period of 2026 fell by 23% compared to a year ago, to 3.8 millions tons.
Equinor: Iran's war increases interest in LNG and Norwegian petroleum products in Asia-Pacific
Equinor said that it has seen an increase in demand for energy exports from 'Norway', even from customers as far away as Australia. This is after the Iran War curtailed exports of LNG and petroleum products (LNG) out of the Gulf. Conflict has closed the Strait of Hormuz - a chokepoint for energy exports, particularly to Asia. After presenting Equinor's first quarter earnings, CEO Anders Opedal said that the closure had resulted in a?loss? of 12 million barrels per day of oil and also affected the supply of refined products like diesel and jet fuels.
Australia and Japan sign agreement on critical minerals and energy
Australia and Japan have agreed to intensify their 'cooperation in energy and minerals. The agreement was reached on Monday, when the Japanese Prime Minister Sanae Takaichi and his Australian counterpart Anthony Albanese met during a three-day visit to Australia. The two countries signed a historic defence agreement last month and agreed to enhance the energy, food, and essential minerals supply chains. Albanese stated in a press release that "Australia and Japan have taken action to protect their economies from future shocks and uncertainty".
EIA reports that US crude oil production rose to a two-month high during February.
The U.S. Energy Information Administration reported on Thursday that U.S. crude oil production rose to 13,63 million barrels a day in February. This is the highest level since December. The U.S. production of oil in February increased both from a month-to-month and yearly perspective. The?EIA data revealed that the average output in January of this year was 13.24 million bpd, and February last years was 12.60 million bpd. The EIA data also showed that the U.S. demand for oil rose in February. This was primarily due to a?multi-year increase in demand of distillate fuel oil, which includes diesel and?heating oils.
Brent Crude Prices Rise as Trump Threatens to Attack Mine-Laying Ships in Hormuz
Brent crude futures climbed more than $1 a barrel on Thursday following U.S. President Donald Trump's threat to attack ships laying mines in the Strait of Hormuz, casting doubt on the survival of a ceasefire in the war with Iran.Brent crude futures were up $1.26, or 1.24%, to $103.17 a barrel at 9:19 a.m. CDT (1419 GMT) after settling above $100 for the first time in more than two weeks on Wednesday. West Texas Intermediate futures were up 72 cents, or 0.77%, at $93.68.Iran flaunted its tightened grip over the Strait of Hormuz with video of its commandos storming a huge cargo ship…
TotalEnergies reports strong Q1 sales despite war-related output losses
PARIS, 16 April - TotalEnergies expects to see a significant rise in earnings in the first quarter due to a strong trading performance, and also in its upstream production?and oil sales, thanks in part to the higher prices caused by war in Iran. This is despite the fact that the conflict has shut down 15% the French group's total production. In a?earnings outlook, the group said that the margin for refining fuels was $11.40 a barrel during the third quarter, an increase of 192% over $3.90 per barrel compared with a year ago. It is also flat when compared with the fourth-quarter margin of $11.40 in 2025.
Oil Prices Fall as US, Iran Consider Ceasefire Proposal Framework
Oil prices retreated in choppy trade on Monday, as investors awaited clarity on the status of indirect talks between the U.S. and Iran, wary about sustained supply losses due to shipping disruptions.Brent crude futures were down 0.22% to $108.79 a barrel at 11:49 a.m. CDT (1649 GMT). U.S. West Texas Intermediate crude futures were trading down 0.08% to $111.45 per barrel.The price moves on Monday were dwarfed by an 11% surge for WTI and an 8% rise for Brent during the previous trading session on Thursday, the biggest absolute price increase since 2020. The U.S.
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. This is due to U.S. pressure against buying Iranian crude. However, supply disruptions caused by the U.S. - Israel?war, have affected the South Asian nation severely. The oil ministry announced on X that "Indian refiners have secured crude oil supplies, including from Iran, despite Middle East supply disruptions.
Gas companies claim that Japan's demand for gas could fall if the war in Iran affects plastics supplies.
Gas company chiefs warned on Wednesday that Japan's gas consumption could fall if the war on Iran continues. Osaka Gas provides?gas? to factories. If these plants are forced into a production cutback due to a shortage of materials, Osaka Gas's sales of gas will fall, said Osaka Gas president Masataka Fujiwara at a press briefing. Tokyo Gas?also warned about the possible fallout of a naphtha shortage for manufacturers. Tokyo Gas President Shinichi SASAYAMA said in a separate press conference that any decision to reduce the activities of our customers…