Residents and wildlife on Mexico's coastline bear the brunt from Pemex oil leak
Guillermo Risso, a community council president in Puerto?Ceiba, a coastal town near the refinery in Mexico's?southern?state of Tabasco, saw luminous flashes before dawn on the morning of March 17. He assumed that the Olmeca Refinery, owned and operated by Mexico's State Oil Company?Pemex was on fire. Risso is the president of the community council in Puerto Ceiba. The town is located near the refinery, which is located in Mexico's southern state of Tabasco. "We saw fires and were concerned," he said.
Palm oil hits a two-week low due to weaker Dalian crude oil and Mideast uncertainty
Malaysian palm futures fell to their lowest level in two weeks Wednesday. This was due to lower crude oil prices, a decline in Dalian oil, and uncertainty over the prospects of de-escalation of the Middle East conflict. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange fell 41 ringgit or 0.9% to 4,496 Ringgit ($1,134.78). Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari said that the decline in crude prices and Dalian had a negative impact on 'the palm market'.
EnQuest confirms production forecast for 2026, but UK windfall tax hurts profit
EnQuest, a North Sea oil producer, reaffirmed its production forecast for 2026 on Wednesday. The company is banking primarily on investments in Britain and South East Asia after Britain's windfall tax levies impacted last year's profit. EnQuest, like its competitors, continues to be challenged by the UK's Energy Profits Levy which has raised questions about the competitiveness of North Sea producers. The company is working to increase?output of mature assets in order to counter third party outages.
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…
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, on February 28, the Gulf's neighbours have been the most affected by the missiles and drones which followed. These weapons destroyed energy infrastructure and damaged economies. They also exposed the limits of a supposed U.S. umbrella. This reckoning has consequences that go 'far beyond the militaristic.
Arafura Australia says South Korea and Germany are exposed to a rare earths shortage.
The United States, Japan and Australia are locking down rare earths supply, leaving industrial giants Germany and South Korea vulnerable, according to the CEO of Australia’s Arafura Rare Earths. This company is currently negotiating final agreements for supply. The U.S. is leading a global push to diversify supply chains and secure new sources of supply after China, the world's largest producer of rare earths, placed export restrictions last year. This shook the automotive and defense industries.
Gulf Stocks Mixed amid Confusion over US-Iran Talks
Gulf markets closed mixed on Tuesday. Qatar?extended losses, while other bourses stabilized as investors parsed contradictory signals about potential U.S.Iran 'talks. The mood was volatile when U.S. President Donald Trump delayed attacks on Iran's energy infrastructure and spoke of "productive" talks to end the U.S.-Israeli conflict with Iran. But Tehran dismissed this comment as "fakenews". Semafor, citing an official from the United States, reported that the U.S. would continue to strike Iran.
Sinopec will increase Bohai Bay Shale Oil as a backup to maintain output
Sinopec, the Chinese oil company, will increase shale oil production in the Bohai Bay basin following a successful pilot. The resources gained from this project will be used to sustain oil production for a longer period of time, according to its chairman. Sinopec has pumped 7.3 million barrels of oil (or close to one million metric tonnes) from the Jiyang Trough in the basin, which is part of Shengli Field, an old field. This was the first of Sinopec's major shale-oil pilot projects.
Gulf stocks mixed after Iran denies US talks, Qatar continues decline
Gulf stock markets were unable to find direction during early trading Tuesday. Qatar's fall was exacerbated by mixed messages about U.S.Iran talks following President Donald Trump's decision to delay strikes on Iran's energy infrastructure. Trump made his decision on Monday based on what he called productive discussions with Iranian officials. Iran denied, however, that it had held negotiations with the U.S. Semafor, citing an official from the United States, reported on Monday that the U.S. would continue to strike Iran.
Investors predict that the war in Iran will increase Chinese demand for renewable energy
Investors rush into Chinese renewable stocks betting that the oil shock caused by the Iran War will increase?global green energy demand, a sector China dominates. This 'portfolio' trend in Asia is a result of growing concerns about energy security in Asia and a growing distrust for Washington. It contrasts with the United States, which has shifted back to oil and gas. Aaron Costello, Cambridge Associates' head of Asia, said at a conference in Hong Kong that countries should now focus on energy security.
Investors predict that the war in Iran will increase Chinese demand for renewable energy
Investors rush into Chinese renewable stocks, betting that the oil shock caused by the Iran War will boost global demand for the green energy sector, which China dominates. This portfolio?trend, spurred by?heightened concerns about energy security?and 'growing distrust of the U.S.'s reliability contrasts with the United States returning to oil and gas. "As you step back and the dust settles, or the price of crude oil begins to drop,...
NextEra CEO: NextEra has secured land in Texas to build a giant gas plant that will power data centers
NextEra Energy secured land in?Texas to build a gas-fired power plant that will be used to power a massive data?center. The project is backed by a U.S.Japan agreement. Last week, the power provider revealed that President Donald Trump's administration had approved the construction of two gas plants totaling 10 gigawatts in Texas and Pennsylvania. This will help to meet the exploding electricity demands of data centers. The $33 billion project would be developed by NextEra and operated by them…
HMH Holding, backed by Baker Hughes, seeks $948 Million valuation in US IPO
HMH Holding, an oil and gas equipment manufacturer, said it aimed to raise up to $948m in its initial public offering in the United States. The company entered the market at a time when the price of crude was surging. The company aims at raising $231 million through the IPO. It will sell 10.5 million shares between $19 to $22 each. Bankers and analysts claim that despite the increased volatility in the market, capital markets remain open for oil and gas companies.
Iran denies talking to US after Trump delays strikes on power grid
Iran denied on Monday that it was in negotiations with the United States after President Donald Trump backed down from a threat to attack Iran's electricity grid due to?productive talks he had with unidentified Iranian officials. An official from Europe said that although there were no direct talks between the two countries, Egypt, Pakistan, and Gulf states "were relaying" messages. An official from Pakistan and a second person told?
Japan: Efforts made to secure energy supply are insufficient
Takehiko Matsuo said that coordinated efforts?by government to boost energy supply in a?follow-up to?the U.S./Israeli war against?Iran are not enough to ease the market strain. The International Energy Agency is releasing 400,000,000 barrels of oil to the market from its strategic stockpiles to try and bring down prices. Global oil futures have reached over $100 per barrel. Japan will contribute 80 million barrels, second highest behind the United States which will release 172 million barrels.
Meloni, an Italian LNG expert, will travel to Algeria to replace Qatar LNG as a result of the Iran War.
Giorgia meloni, the Italian prime minister, will visit Algeria this week to secure an alternative supply of gas amid a prolonged interruption in deliveries from Qatar. The 'prime minister’s office' said that Meloni would be in Algiers Wednesday without providing a detailed itinerary for the official visit. Algeria is among the countries Italy has been in contact with to secure its gas supply after Iranian'strikes' on Qatar seemed to have stopped its exports for a?extensive period…
EUROPE GAS - European prices are rising due to Middle East energy war fears
Dutch and British Gas Contracts rose on Monday morning and are likely to face another volatile trading session, as the Middle East war risks escalating strikes against energy infrastructure. The reopening of Strait of Hormuz is still a long way off. Data from Intercontinental Exchange showed that the benchmark Dutch front-month contracts?at TTF hub were up?3.01 euros at 62.35 euros per megawatt hour (MWh), by 0901 GMT. The British contract was up by 6.3 pence to 157.40 per therm.
US energy and interior secretaries met executives amid market turmoil
Energy executives from the United States and Venezuela met with U.S. Energy Sec. Chris Wright, Interior Sec. Doug Burgum on Sunday in Houston to discuss everything from increasing domestic oil production?to Venezuelan opportunities. This was during the worst?supply interruption in history due to U.S. and Israeli war against Iran. The dinner meeting was held on the eve if the annual CERAWeek conference where oil ministers…
Iran threatens to retaliate after Trump's ultimatum against Gulf water and energy
Iran has warned that it will strike water and energy infrastructure in the Gulf region if U.S. president Donald Trump follows through with his threat to "attack" its electricity grid. This is raising fears about a massive disruption of drinking water for a region heavily reliant on desalination. Trump gave a deadline of 7:45 pm EDT (2345 GMT) on Monday, warning late Saturday that the United States will strike Iran's nuclear power plants if Tehran does not fully reopen the Strait of Hormuz in 48 hours.
Oil Prices Drop 8% Ahead of Possible Middle East Peace Talks
Oil prices dropped about 8% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days and cited constructive talks to resolve hostilities in the Middle East, hours before a deadline that threatened to escalate the four-week-old war.Brent futures fell $8.92, or 8.0%, to $103.27 a barrel at 12:31 p.m. EDT (1631 GMT), while U.S. West Texas Intermediate lost $7.17…