Energy
Western energy majors are expected to report combined record profits of $200 billion in 2022, driven by volatile oil and gas prices following Russia's Ukraine invasion, with strong earnings projected to continue into 2023.
French Navy Investigates Sanctioned Russian Oil Tanker in Shadow Fleet Probe
French authorities are investigating the oil tanker Boracay, suspected of being part of Russia's shadow fleet for circumventing sanctions. The vessel, flagged…
HighECOnnect Energy instala tecnología flotante marina para GNL en Bahamas
ECOnnect Energy y New Providence Gas formalizaron un acuerdo para instalar tecnología flotante marina que importará gas natural licuado en New Providence, acel…
HighDangote breaks ground on $16bn Kenya refinery amid land compensation protests
Nigerian billionaire Aliko Dangote launched a $16bn oil refinery in Kenya's Lamu region with backing from five African leaders, despite local protests over lan…
HighMotor oil shortage looms as major suppliers curb deliveries
Major oil producers Chevron and Motiva are curbing motor oil feedstock deliveries, triggering industry-wide supply concerns and potentially doubling oil change…
MediumIran conflict pushes global LNG trade into shadow operations
Major LNG producers like Qatar are disabling ship tracking systems to navigate Iran-controlled waters, adopting opaque maritime practices previously used in sa…
HighIndia cuts windfall tax on crude petroleum; LPG prices fall
India's government cut the windfall tax on crude petroleum from Rs 9,600 to Rs 8,400 per tonne, effective immediately. Oil marketing companies also reduced com…
HighMerz pursues energy ties with Azerbaijan as Germany tackles child abuse surge
Chancellor Merz hosts Azerbaijan's president to discuss energy diversification while Germany confronts rising child sexual abuse cases and other domestic secur…
HighU.S. Gas Prices Surge Amid Iran Conflict: California Hits $5.78, Texas Holds Below $3.80
US gas prices are climbing due to rising crude oil costs tied to Iran conflict and spring demand. California leads at ~$5.78/gal; Texas remains cheapest at ~$3…
HighDangote refinery transforms Nigeria into fuel exporter, boosting shipments 7-fold
Nigeria's fuel exports have surged seven-fold since 2023 with the Dangote refinery operational, while imports plummeted to one-third of previous levels, reshap…
HighOil Prices Rise on Iran Unrest as Venezuela Exports Temper Gains
Oil prices gained 0.49-0.51% as Iran's intensifying protests threaten 1.9M barrels/day of exports, though Venezuelan crude resumption limits price increases.
HighUS Embassy warns of imminent missile and drone attacks on Saudi Arabia's eastern oil hub
The US Embassy in Riyadh issued an urgent warning of imminent missile and drone attacks targeting Dhahran, home to critical Saudi energy infrastructure, follow…
HighGas prices surge as refinery outages and Red Sea disruptions tighten supply
U.S. gasoline prices are climbing toward $3.20/gallon due to refinery shutdowns, winter weather impacts, and Red Sea shipping disruptions, with futures suggest…
HighSatellite images reveal Saudi pipeline damage as oil markets brace for supply disruption
Satellite imagery confirms significant damage to a major Saudi Arabian pipeline bypassing the Strait of Hormuz, triggering oil price increases and global suppl…
HighOPEC+ Completes Oil Production Rollback With September Increase
OPEC+ agreed to increase oil production in September, finalizing the reversal of voluntary production cuts previously implemented by the cartel.
HighCuban zoo celebrates rare tiger births despite crippling energy crisis
A Cuban national zoo celebrates the birth of four Bengal tiger cubs, including a rare white tiger, as a morale boost for workers struggling with severe fuel an…
HighArgentina's Patagonia Oil Boom Reshapes Remote Region's Future
Argentina is experiencing an oil boom in northwest Patagonia, with the country banking on petroleum extraction to revitalize its struggling economy and reshape…
HighOil prices surge on Saudi pipeline outage and renewed regional attacks
Oil prices climbed following a Saudi Arabian pipeline outage and fresh attacks on energy infrastructure, intensifying concerns about global supply disruptions.
HighSeasonal Welding Fume Exposure Poses Significant Health Risks, Study Finds
A Nature study of Iranian oil refinery welders found that seasonal variations significantly increase metal fume exposure, with summer conditions elevating iron…
HighEU mulls emergency response as Danube drought forces nuclear shutdowns across Eastern Europe
Record-low Danube water levels force Hungary and Romania to reduce nuclear power output, prompting EU emergency discussions as Eastern Europe faces potential e…
HighOil prices rise on crude inventory draw and U.S. stimulus hopes
Oil prices edged higher Wednesday as U.S. crude stockpiles fell more than expected and optimism grew around a coronavirus relief package, though global demand…
HighIraq seizes drone platform used in Saudi pipeline attack near Iranian border
Iraqi forces seized a drone-launching platform used in an attack on Saudi Arabia's East-West oil pipeline, which carries 4-5% of global oil supply. The launch…
HighIran's oil industry nears collapse as sanctions force unconventional storage and transport
Iran's petroleum sector is in crisis, storing crude in abandoned tanks and attempting rail transport to China as sanctions cripple exports and economic output.
MediumOil prices set for third consecutive weekly drop in Philippines
Philippine oil companies forecast fuel price rollbacks for the third straight week, with diesel dropping ₱2.50-2.70/liter and gasoline ₱1.80-2.00/liter startin…
HighBrazil and Africa can break the extractive cycle through green industrialization
Africa and Brazil can leverage their critical mineral reserves and renewable energy advantages to build green industries domestically rather than exporting raw…
HighExxon Mobil Shuts Joliet Refinery After Power Outage
Exxon Mobil has shut down its Joliet refinery following a power outage, disrupting operations at one of the company's key U.S. facilities.
MediumVenezuela's Oil Sales Outpace Port Capacity as Tankers Queue Up
Venezuela is selling oil faster than its ports can process shipments, causing tankers to queue at loading facilities. The supply-demand mismatch highlights inf…
HighOil prices slip as China's crude imports signal demand concerns
Oil prices fell as China reported its first crude import contraction since 2013, raising concerns about global demand recovery despite supply constraints from…
HighDelhi CNG prices surge for third time in 10 days amid Middle East tensions
CNG prices in Delhi increased by Rs 1 per kg to Rs 81.09, marking the third hike in 10 days, driven by Middle East tensions and Strait of Hormuz blockade press…
HighFire at Saudi Aramco's Jazan refinery extinguished
A fire at Saudi Aramco's Jazan refinery has been extinguished, according to Saudi authorities. The incident's cause and operational impact remain unclear.
MediumZelenski seeks Gulf support as European aid stalls over Hungary's oil dispute
Ukrainian President Zelenski tours Gulf states securing defense cooperation agreements on drone technology and joint manufacturing, while European funding rema…
HighPetrol prices set to fall Rs9 by mid-August after four consecutive hikes
Pakistani petrol and diesel prices are anticipated to decrease by Rs9 and Rs3.50 per litre respectively by mid-August, following four consecutive increases, dr…
MediumCanada and Germany seal landmark LNG deal as Carney diversifies energy exports
Canada and Germany finalize a landmark liquefied natural gas export agreement, with Canadian Finance Minister Carney positioning the deal as part of broader en…
HighU.S. blockade repels Iranian tankers as Strait of Hormuz traffic plummets
Iranian oil tankers are being turned away by US naval blockade operations at the Strait of Hormuz, causing significant disruption to global petroleum traffic t…
HighUAE Exits OPEC, Reshaping Global Oil Dynamics
United Arab Emirates announces withdrawal from OPEC, weakening the oil cartel's influence and signaling geopolitical realignment amid regional tensions and pre…
HighUS seizes Venezuelan tanker Veronica in Caribbean, reinforces oil embargo
The US Southern Command seized the oil tanker Veronica in the Caribbean, demonstrating enforcement of sanctions against Venezuelan petroleum exports. This mark…
HighLibya's NOC threatens force majeure, Zawiya refinery closure over drone attacks
Libya's National Oil Corporation warns of potential force majeure and shutdown of the Zawiya refinery if drone attacks on infrastructure continue, threatening…
HighOil tanker traffic slows at Hormuz as LNG storage vessels pile up
Tanker traffic through the Strait of Hormuz has declined significantly while LNG floating storage facilities accumulate inventory, signaling potential supply c…
HighUAE's OPEC Exit Tests Saudi Arabia's Regional Oil Dominance
The UAE's unexpected withdrawal from OPEC signals a shift in Middle Eastern oil politics and closer alignment with US interests, testing Saudi Arabia's dominan…
HighNZ's gas reserves depleting faster as major fields wind down ahead of schedule
New Zealand's natural gas reserves fell 11.5% in a year as major fields like Māui and Pohokura wind down faster than expected, threatening electricity security…
HighUAE Exit Weakens OPEC's Grip on Global Oil Markets
The United Arab Emirates has withdrawn from OPEC, potentially weakening the oil cartel's influence on global energy markets and prices. The move has implicatio…
HighCNG prices surge Rs 2/kg across Delhi-NCR; Delhi now at Rs 73.61/kg
Indraprastha Gas Limited raised CNG prices by Rs 2 per kg in Delhi-NCR effective Sunday, with Delhi now at Rs 73.61/kg. Price hikes across multiple states foll…
HighDelhi CNG prices surge ₹2/kg as oil firms raise petrol, diesel amid global crisis
CNG prices in Delhi and Mumbai rose by ₹2/kg on May 15, following petrol and diesel hikes of ₹3/litre, driven by OMC losses from West Asia crisis and elevated…
HighCuba's power grid collapses again as US oil embargo deepens energy crisis
Cuba's entire electricity grid collapsed again, plunging 10 million people into darkness. The outage is the latest in a series caused by aging infrastructure a…
HighEurope's Russian Oil Ban Reshapes Global Energy, With Mixed Economic Consequences
EU bans Russian oil imports phased over months, potentially reducing purchases by 3.3M barrels daily while risking higher global prices and strengthening Russi…
HighQatari LNG Tanker Faces Explosion Risk After Strait of Hormuz Attack
A Qatari LNG tanker damaged in a Strait of Hormuz attack faces potential explosion risk, marking the second war-related incident on an LNG carrier this year. M…
HighCommercial LPG cylinder prices cut by Rs 102.50 from January 1
National Oil Marketing companies reduced commercial LPG cylinder prices by Rs 102.50 effective January 1, 2022, providing relief to restaurants and small food…
HighJapan's processed foods face steepest price hikes as Middle East tensions drive packaging costs
Japan's processed foods face the steepest price increases in 2026 due to Middle East geopolitical tensions driving up crude oil and naphtha costs, affecting pa…
HighCuba faces energy crisis as diesel, fuel oil supplies completely depleted
Cuba has exhausted its diesel and fuel oil supplies amid a US-led blockade, creating widespread power cuts and forcing hospital closures. The energy minister d…
HighUAE accelerates massive oil pipeline bypass around Strait of Hormuz
UAE accelerates construction of a major oil pipeline through the desert to bypass the Strait of Hormuz, doubling capacity of its alternative route amid prolong…
HighDrone strikes ignite fire at Libya's largest oil refinery
A drone attack set fire to Libya's Zawiya oil refinery, the nation's largest operational facility. Repeated strikes from unknown attackers threaten to force su…
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