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The Iran War threatens to have a long-lasting impact on global energy markets
Even if the conflict with Iran ends soon, consumers and businesses could face weeks or even months of higher fuel prices. This is because suppliers are dealing with damaged facilities, disrupted logistic, and increased risks in shipping. This outlook is a greater threat to global economic stability and a political vulnerability to U.S.
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Bangladesh closes early its universities to save energy amid energy crisis
Bangladesh will close its universities on Monday as part of an emergency measure to conserve fuel and electricity amid a worsening energy crisis related to the conflict in the Middle East. The authorities said that the decision would apply to all private and public universities in the country.
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Indian refineries tumble as crude prices surge on the escalating Iran war
The shares of Indian'refiners' fell on Monday as the escalating 'U.S.-Israeli conflict with Iran pushed Brent crude to $120 per barrel, a price that is a near four-year-high. This threatens their short-term earnings. Indian Oil, a state-run company, fell 6.6%. Hindustan Petroleum fell 7.5%. Bharat Petroleum plunged 7.1%.
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Merafe Resources' profits plunge after soaring electricity costs close smelters
Merafe Resources, a South African company, reported a 72% drop in its full-year profits on 'Monday. This was after it suspended operations at its ferrochrome smelters because of high electricity prices. Merafe’s headline earnings per shares fell from 42.9 South African Cents to 12.2 South African Cents for the year ending December 31, 2025.
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EUROPE GAS-European Gas Prices Rise Back to 2023 High as US-Iran Conflict Enters Second Week
LONDON, 9 March - Benchmark European Wholesale Gas rose again on Monday to its highest level for more than three years, tracking a surge of?oil as the US-Iran Conflict entered its second weeks and shipping?around?the Strait of?Hormuz remained near a standstill. Iran named?Mojtaba?Khamenei as the successor to his father…
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Oil stocks held back by G7 nations as Iran crisis raises prices
France's Finance Minister said that G7 countries haven't yet decided whether to release their emergency oil reserves, as…
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AFR reports that Glencore is open to listing Australia if it's beneficial.
The Australian Financial Review reported that Glencore was "open" to considering a listing in Australia if it proved beneficial for the company.
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Source: India will not join IEA's initiative to tap oil resources
A government source confirmed that India does not plan to join the International Energy Agency's (IEA) initiative aimed at…
Latest news
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India increases cooking gas prices after Iran war affects supply
Indian 'companies' have increased the price of liquefied petrol gas, mainly used as a cooking fuel for the first time in about a?year…
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Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and Tehran's attacks upon Gulf neighbours has caused oil and gas?exports to be disrupted and production stopped.
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Oil and Gas Industry urge EU to stop methane emission law
Oil and gas companies warned that the European Union's methane emission law could disrupt Europe’s fuel imports if it is implemented next year.
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Oil and Gas Industry urge EU to stop methane emission law
Oil and gas companies warned that the European Union's methane emission law could disrupt Europe’s fuel imports if it is implemented next year.
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Nscale, backed by Nvidia, valued at $14.6 Billion in a new funding round
The 'artificial intelligence' group Nscale, which is backed by Nvidia and has raised $2 billion through its latest funding round…
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Nscale, backed by Nvidia, valued at $14.6 Billion in a new funding round
The 'artificial intelligence' group Nscale, which is backed by Nvidia and has raised $2 billion through its latest funding round…
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Head of opposition party says Japan should use nuclear power to counter Iran crisis
Yuichiro Tamaki, leader of an opposition party in Japan, said that Japan should run all its nuclear?power stations to offset…
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Head of opposition party says Japan should use nuclear power to counter Iran crisis
Yuichiro Tamaki, the leader of an opposition party in Japan, stated on Monday that Japan should use all its nuclear 'power…
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Santos and Beach Energy have approved the Moomba Central Optimization project
Australia's Santos said Monday that it would?proceed?with?the Moomba Optimisation Project in the Cooper Basin of South Australia…
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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…
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US-Israeli War on Iran Causes Major Oil, Gas Disruptions
The U.S. and Israeli war against Iran has caused oil and gas exports to be disrupted from the Middle East. Production was…
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Iran War threatens to hit global energy markets for a long time
Even if the U.S. and Israel's war against Iran ends soon, consumers and businesses around the world could face weeks or even…
Exploration
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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…
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Frontera Energy: Parex bid superior to previous Geopark bid
Toronto-listed Frontera?Corporation, said in a late Thursday statement that, after consulting with independent financial advisers and legal counsel…
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Japanese stocks set to drop the most in 11 months this week on Middle East conflict
The Japanese stock market suffered its steepest weekly?drop since almost a full year on Friday as?the Middle East conflict?
Drilling
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Former Shell CFO to leave, BP Chairman Manifold trims the board
BP Chairman 'Albert Manifold' announced on Friday plans for a slimmer board, as a s part of the resetting strategy by the british oil major.
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Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, an energy services company, said that the U.S. cut back on the number of natural gas and oil rigs for the first time since six weeks.
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Indonesian Pertamina will continue to bid for US energy imports
Pertamina, the Indonesian state oil and gas company, said on Friday that imports of energy products from the U.S. will still…
Production
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Canadian Natural Resources exceeds profit expectations on higher production
Canadian Natural Resources, an oil and gas producer, posted a profit that was higher than expected for the fourth quarter.
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APA exceeds its quarterly profit forecasts as lower costs offset the weak price, output
Oil and 'gas company APA beat the fourth-quarter profit estimate?on Friday. This was helped by lower operational costs that…
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Chevron and a consortium of companies sign contracts for gas exploration offshore Greece
The United States has expanded its presence in the Eastern Mediterranean with the signing of exclusive lease agreements by a?consortium headed by U.S.