The global energy crisis is deepening as emergency measures by governments worldwide have fallen short of plugging the huge shortfall in oil and gas supply caused by the U.S.-Israeli war on Iran, executives and oil ministers said on Tuesday. Costs for energy, fertilizers and petrochemicals are soaring as the world is losing as much as …
Summary Trump cites progress with Iran, US proposes plan to end war Iran tells UN ‘non-hostile’ ships can transit Strait of Hormuz Saudi hikes Yanbu exports to work around Hormuz halt, data shows Russia halts Baltic oil exports after Ukrainian drone attacks (Reuters) – Oil prices sank about 5% on Wednesday after reports the United …
Oil Falls as Reports of 15-Point Proposal Spurs Ceasefire Hopes Read More »
(Reuters) – The Trump administration is working with Canada on permits required for a proposed revival of part of the Keystone XL oil pipeline, a White House official said on Tuesday. The pipeline, proposed by Canadian pipeline company South Bow and its U.S. partner Bridger Pipeline, could increase Canada’s crude exports to the U.S. by …
US Says it is Working With Canada on Permitting for Proposed Partial Keystone XL Revival Read More »
(Reuters) – Iran has told International Maritime Organization member states that “non-hostile vessels” may transit the Strait of Hormuz if they coordinate with Iranian authorities, the Financial Times reported on Tuesday, citing a letter. The U.S.-Israeli war against Iran has all but halted shipments of about one-fifth of the world’s oil and liquefied natural gas …
Iran Says ‘Non-Hostile’ Ships Can Transit Strait of Hormuz, FT Reports Read More »
(Reuters) – Emergency measures to alleviate the disruption to energy supply caused by the U.S.-Israeli war on Iran are “not even a drop in the proverbial barrel” compared to normal oil and gas export flows from the Middle East Gulf, the CEO of Kuwait Petroleum Corporation said on Tuesday. Kuwait and Gulf neighbors Saudi Arabia, …
Kuwait Oil CEO Says Iran is ‘Holding the World’s Economy Hostage’ Read More »
(Reuters) – Energy security is key to securing national security, Shell CEO Wael Sawan said on Tuesday, warning that the supply disruptions from the U.S.-Israel war with Iran that have hit Asia could creep into Europe by next month. “We are trying to work with governments to just alert them to the various levers they …
Energy Security Key to National Security, Shell CEO Says Read More »
(Reuters) – The cost of building gas plants has topped $3,000 per kilowatt, more than tripling over the last decade, Carlyle’s energy investment officer said on Tuesday. “There’s a real increase that’s happened, and that’s flowing into the power prices in the market today,” Matt O’Connor, chief investment officer of international energy at Carlyle, said …
(Reuters) – Venezuela needs to “completely rewire” its fiscal system to attract new investment, ConocoPhillips CEO Ryan Lance said on Tuesday at the CERAWeek conference in Houston, underscoring the challenges facing the country’s oil industry in the wake of President Nicolas Maduro’s capture in January. Lance called a reformed hydrocarbon law in the OPEC-member country …
Venezuela Needs to “Rewire” Fiscal System to Attract Investment, ConocoPhillips CEO Says Read More »
(Reuters) – Kuwait could ramp up oil production relatively quickly if the U.S.-Israel war with Iran were to end today, hitting full production capacity in 3-4 months, Shaikh Nawaf Al-Sabah, CEO of Kuwait Petroleum Corporation, said on Tuesday in a video address to the CERAWeek energy conference. He said supplies from alternative pipelines to the …
Kuwait Would Take 3-4 Months to Hit Full Oil Output if War Ended Today, KPC CEO Says Read More »
(Reuters) – Traders bet half a billion dollars on the price of crude only 15 minutes before U.S. President Donald Trump announced a five-day delay to attacks on Iran’s energy infrastructure that sent the market plunging, exchange data and Reuters calculations showed. Having issued Iran with a Monday deadline to reopen the critical Strait of …
Traders Bet $500 Million on Oil Price Just Before Trump’s Post on Delay to Iran Attack Read More »
