It could take up to two years to recover a significant share of oil and gas production that has disrupted by the Iran war, Fatih Birol, executive director of the International Energy Agency, said. The recovery will be gradual as damage from the conflict has affected oil fields, refineries and pipelines across the Persian Gulf, …
Oil, Gas Recovery May Take Two Years After War, IEA’s Birol Says Read More »
Leaders want the vital Strait of Hormuz opened immediately to restore energy flows Some Gulf Arab and European leaders believe that a U.S.-Iran peace deal will take about six months to be agreed and that the warring sides should extend their ceasefire to cover that timeframe, according to officials from the regions familiar with the …
U.S.-Iran Deal Will Take Months, Gulf and European Officials Say Read More »
Takeaways by Bloomberg AI Trump administration officials urged US oil producers to boost output amid a global supply shock caused by the war in Iran. The administration is grappling with the effective closure of the Strait of Hormuz, which has yanked an estimated 16 million barrels per day of crude from the world market. Industry leaders …
Trump Officials Urge Oil Industry to Boost Output Amid War Read More »
The heads of the U.S. Interior and Energy Departments will hold a call on Thursday with CEOs from energy companies including Exxon and Chevron on their potential to boost oil and gas output, an administration official said, as the Iran war hikes global energy prices. The prices, which are returning to levels seen during the aftermath …
Trump’s Energy Leaders to Hold Call With CEOs on Iran War, Source Says Read More »
(Reuters) – The Iran war has torn open a dangerous rift in global oil markets: physical crude is trading at record highs while futures benchmarks signal calm. That disconnect is forcing consumers, companies and policymakers to navigate without a reliable compass – and it could leave a lasting scar on the global economy. Investors have …
The Iran War Has Shattered Oil’s Price Compass: Bousso Read More »
The formation in BC and Alberta is a giant for gas and liquids By Don MacLachlan By Resource Works More News and Views From Resource Works Here No wonder that our Resource Works founder and CEO, Stewart Muir, called the Montney natural-gas reserves in Canada “British Columbia’s economic crown jewel.” The Montney Formation in BC …
(Reuters) – The Electric Reliability Council of Texas (ERCOT) said electricity demand could rise sharply into the 2030s as an increasing pipeline of data centers drives most of the projected growth, according to a presentation on Wednesday by the grid operator. ERCOT’s preliminary base forecast projects peak electricity demand climbing from about 98,087 megawatts in …
ERCOT Sees Surge in Power Demand by 2030s Amid Data Center Growth Read More »
(Reuters) – China continued to build the world’s largest stockpile of crude oil in March even as the rest of the world started to draw on inventories to compensate for the loss of millions of barrels from the effective closure of the Strait of Hormuz. China, the world’s biggest crude importer, had surplus oil of …
China Added More Crude to its Massive Stockpile in March, But Outlook Shifts: Russell Read More »
U.S. forces in the Middle East are postured to restart combat operations if Iran doesn’t agree to a peace deal, Defense Secretary Pete Hegseth told a Pentagon briefing on Thursday. “You Iran, can choose a prosperous future, a golden bridge, and we hope that you do for the people of Iran,” he said. “But if …
US Forces Ready to Restart Combat if Iran Doesn’t Agree to a deal, Says Hegseth Read More »
Summary US imposes new sanctions on Iran’s oil transportation infrastructure US Treasury secretary warns of secondary sanctions on buyers, including Chinese banks Moves come as the US enforces maritime blockade on Iran (Reuters) – The United States on Wednesday threatened to sanction buyers of Iranian oil and said it believed China would pause such purchases …
US Warns That Buyers of Iranian Oil Could be Hit With Sanctions Read More »
