Japan may start stockpiling U.S. oil domestically, Prime Minister Sanae Takaichi said during her visit to the United States, as it looks to diversify procurement and strengthen energy security. Before Japan tapped its strategic oil stocks this week in a record release to offset fallout from Middle East supply disruptions and rising energy prices, it …
Japan May Stockpile US Oil Domestically, PM Says Read More »
The International Energy Agency chief Fatih Birol warned in an interview with the Financial Times on Friday that it could take up to six months to restore oil and gas flows from the Gulf, saying the world is facing what could be the most severe energy crisis in history. “It will be six months …
Restoring Oil Flow From Gulf Could Take Six Months, IEA Chief Tells FT Read More »
As Somali pirates hijacking giant cargo vessels and tankers from tiny motorised skiffs wreaked havoc across the region from the mid-2000s to the early 2010s, a tiny group of UK military reservists in a bungalow in the gardens of the British diplomatic mission in Dubai found themselves fielding daily calls from panicked merchant ships. The …
Shipping Strikes, Oil Price Spikes and a Deadly New Gulf Crisis Read More »
Brent crude rose more than 10 per cent to as high as US$119 a barrel on Thursday By Patrick Sykes and Dana Khraiche U.S. President Donald Trump called on Israel and Iran to stop attacks on energy facilities as the war in the Middle East escalated, with damage to key oil and gas infrastructure triggering …
Trump Demands Halt to Energy Facility Attacks as Prices Soar Read More »
The industry is staring down prolonged disruptions in the Persian Gulf. Emerging economies are already paying the price. By Ruth Liao, Stephen Stapczynski and Priscila Azevedo Rocha Each week the world’s largest liquefied natural gas plant remains shut, the world loses the equivalent of enough energy to power Sydney’s homes for an entire year. Qatar’s …
War in Iran is Reshaping the Global Gas Market for Years to Come Read More »
(Reuters) – The United States issued a new general license on Thursday to replace an earlier waiver for the sale of Russian-origin crude oil and petroleum products loaded on tankers as of March 12, according to the U.S. Treasury Department. The license, which expires on April 11, replaces and supersedes a similar 30-day sanctions waiver …
US Issues New 30-Day Waiver for Sale of Russian Oil, Adding Cuba, N.Korea Exceptions Read More »
(Reuters) – Goldman Sachs said on Thursday that risks to oil prices remain skewed to the upside both in the near term and into 2027. The bank added that the persistence of several past large supply shocks highlights the possibility that oil prices could remain above $100 per barrel. Benchmark Brent crude surged above $119 …
Goldman Sachs Flags Upside Risks to Oil Prices in Near Term and Into 2027 Read More »
(Reuters) – U.S. Energy Secretary Chris Wright on Thursday said in a post on X that President Donald Trump’s administration has no plan to implement restrictions on oil and gas exports. Reporting by Bhargav Acharya; Writing by Daphne Psaledakis; Editing by Ryan Patrick Jones
(Reuters) – Iranian attacks have knocked out 17% of Qatar’s liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy’s CEO told Reuters on Thursday. Saad al-Kaabi said two of Qatar’s 14 LNG trains and one of its two gas-to-liquids (GTL) facilities …
(Reuters) – German Finance Minister Lars Klingbeil is examining additional ways to relieve consumers from rising fuel prices due to the Iran war, including introducing a windfall tax on oil companies, his ministry said on Thursday. The money gained from the tax could be used to finance an increase in the commuter allowance, for example, …
German Minister Eyes Windfall Tax on Oil Firms to Ease High Energy Costs Read More »
