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Governments Worldwide Shield Households From Rising Energy Costs

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

April 7 – Governments worldwide are trying to shield consumers from soaring energy costs resulting from the U.S.-Israeli war on Iran. Here’s how different countries are responding: INDIA India will review its fuel exports if needed to ensure availability in the local markets, a government official said. India is assessing fuel-supply requests from its neighbours …

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Russia’s Major NORSI Oil Refinery Halted Operations After Sunday Drone Attack, Sources Say

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries / By

MOSCOW, April 7 (Reuters) – NORSI, Russia’s fourth-largest oil refinery, suspended operations on April 5 following a Ukrainian ​drone attack, two industry sources said ‌on Tuesday. The temporary closure of the refinery will add further uncertainty to Russia’s energy sector, which has been ​hit by continuous Ukrainian attacks, including ​those hitting its major oil exporting …

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IEA Chief: Current Oil and Gas Crisis Worse Than 1973, 1979, 2022 Together

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

PARIS, April 7 (Reuters) – The current oil and ‌gas crisis triggered by the blockade of the Strait of Hormuz is “more serious than the ones in 1973, ​1979 and 2022 together”, Fatih Birol, the ​head of the International Energy Agency (IEA), told ⁠Le Figaro newspaper. “The world has never experienced ​a disruption to energy …

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It’s Time to End the World’s Delusions Over the Iran Energy Crisis: Russell

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By Clyde Russell (Reuters) – LAUNCESTON, Australia, April 7 – The U.S. and Israeli war against Iran has been characterised by a series of miscalculations by most of the involved and peripheral parties, but the real danger is the delusion over the scale of the resulting energy crisis. It is delusional of any nation to …

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US Natgas Futures Rise as Daily Production Falls, Texas Waha Prices Stay Negative

Conventional Energy, Latest, Natural Gas, US News / By

U.S. natural gas futures edged up to a one-week high on Tuesday on a preliminary decline in daily output. That small price increase came despite forecasts for milder weather and lower demand over the next two weeks than previously expected and a daily decline in the amount of gas flowing to U.S. liquefied natural gas …

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US Hits Military Targets on Iran’s Kharg Island, Vance Says No Change to Strategy 

Conventional Energy, Latest, Oil, US News / By

U.S. strikes on Iran’s Kharg Island do not represent a change in American strategy, U.S. Vice President JD Vance said on Tuesday as a U.S. official separately told Reuters the additional strikes on military targets did not impact oil infrastructure. The official, who spoke to Reuters on condition of anonymity, described at least some of …

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Trump Says ‘A Whole Civilization Will Die tonight’ if Iran Does Not Make a Deal

Conventional Energy, Latest, Oil, US News / By

U.S. President Donald Trump once again exhorted Iran to make a deal by his Tuesday deadline, saying a “whole civilization will die tonight” if an agreement is not reached to end the conflict. “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will,” …

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Phillips 66 Faces $900 Million Loss as Iran Crisis Lifts Oil Prices

Conventional Energy, Energy Topics & Technology, Latest, Oil, US News / By

U.S. refiner Phillips 66 said on Monday its first-quarter results were hit by a sharp increase in commodity prices, leaving it with nearly $900 million in pre-tax mark-to-market losses, according to a filing with the Securities and Exchange Commission. Energy prices soared after the U.S.-Israeli war on Iran began in late February. Iran’s effective closure …

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US Crude Exports Test Limits as Shipping Constraints Mount

Conventional Energy, Latest, Oil, US News / By

By Christopher Charleston The war in Iran has sent demand for US oil from overseas toward record levels, bolstering President Donald Trump’s push for “American energy dominance.” But as shipments surge, exports are beginning to run up against their practical limits. Constraints in infrastructure and supply are likely to keep US oil flows well below …

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Venezuela’s Government, Opposition May Cooperate to Safeguard US Assets

CDN and International News, Conventional Energy, Latest, Oil / By

By Luc Cohen Government and opposition request 45-day pause in US asset seizure case Venezuela seeks to protect assets like Citgo from creditors Judge requests update on legal representation for Venezuela ​by May 21 NEW YORK, April 6 (Reuters) – Venezuela’s government and its political ‌opposition are seeking to coordinate their legal defense of the …

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