About 10.7 million barrels of Iranian crude exports crossed through the Strait of Hormuz and exited the area blockaded by the U.S. Navy between April 13 and 21, data analytics firm Vortexa said. * The shipments transited on six crude carriers that had their AIS data switched off. * A U.S. blockade of Iranian ports …
Iran Continues Crude Exports Despite US Blockade, Vortexa Says Read More »
The past decade has brought a rapid succession of global energy crises, driven by military conflict, extreme weather and supply-chain snarls. As today’s highly interconnected oil and gas markets become more fragmented and the low-carbon transition accelerates, recurring shocks may be becoming the norm. First came the post-pandemic inflationary surge in 2021, quickly followed …
THE ENERGY CRISIS – Welcome to the Age of Global Energy Shocks: Bousso Read More »
(Reuters) – S&P Global Energy has reduced its global oil demand forecast for 2026 by 700,000 barrels per day as the U.S.-Iran war disrupts energy supplies from the Middle East and hits demand in the second quarter, consultant Ethan Ng said on Thursday. Global oil demand growth expected to shrink to 400,000 bpd versus …
S&P Global Cuts 2026 Oil Demand Forecast by 700,000 Bpd Due to Iran War Read More »
Summary Destination of first shipment unclear, Reuters previously reported Italy as possible recipient Golden Pass CEO highlights milestone toward full commercial operations Only first processing unit operational, two more units under construction (Reuters) – Golden Pass LNG, a joint venture between QatarEnergy and U.S. oil major Exxon Mobil, said on Wednesday that the first cargo …
Golden Pass Says First LNG Export Cargo Has departed From Sabine Pass Terminal Read More »
(Reuters) – U.S. energy company Chevron said on Thursday that production had fully resumed at its Wheatstone liquefied natural gas plant in Western Australia following repairs for damage caused by a cyclone last month. Tropical Cyclone Narelle struck the 8.9 million-ton-a-year facility in late March, leaving both LNG processing trains offline. “Extreme winds associated with the cyclone …
Chevron Resumes Full Production at Wheatstone LNG After Repairs for Cyclone Damage Read More »
While oil demand destruction deepens with each passing day the Strait of Hormuz remains closed, the longer-term impact of the Iran war may paradoxically work in oil’s favour. Spiking energy security concerns and greater fragmentation could lead to a less efficient, more voracious global energy system. Aggregate worldwide oil consumption is plummeting under the …
Iran War May Crush Oil Demand Today, but Send it Soaring Long Term: Bousso Read More »
The U.S. military has intercepted at least three Iranian-flagged tankers in Asian waters and is redirecting them away from their positions near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday. Washington has imposed a blockade on Iran’s trade by sea while Iran has fired on ships to prevent them sailing through …
US Intercepts Three Iranian Oil Tankers in Asian Waters, Sources Say Read More »
By John Ainger Turkey will use its role as host of this year’s COP31 climate summit to boost clean energy adoption, according to the event’s incoming president, with the Iran war showing how important it is to diversify away from fossil fuels. Murat Kurum, Turkey’s environment minister who will oversee the talks, said in an …
Turkey Says COP31 Climate Summit to Focus on Clean Energy Shift Read More »
By Courtney Subramanian, Jennifer A Dlouhy, and Arsalan Shahla US President Donald Trump indefinitely extended a ceasefire with Iran after the two sides failed to meet for more peace talks, with the war developing into a game of brinkmanship over the critical Strait of Hormuz. Trump said Pakistan, the main mediator between the warring sides, …
US and Iran Deadlocked Over Hormuz After Trump Extends Truce Read More »
(Reuters) – U.S. oilfield services firm Weatherford International said on Wednesday that oilfield activity in Mexico has normalized and it was starting to get paid after a new financial mechanism helped raise funds for state-run energy company Pemex to pay its suppliers after long delays. Oilfield service companies had significantly reduced activities amid Pemex’s accumulation …
Weatherford Says Oilfield Activity in Mexico Has Normalized, Company Getting Paid Read More »
