European Energy Shortages Could Be Felt By April
Energy shortages could hit Europe by next month, Shell CEO Wael Sawan said on Tuesday, adding that securing adequate energy supply was critical to national security.Countries cannot have national security without energy security, Sawan said, adding that Shell was trying to work with governments to help them address the energy crisis, including with storage and purchasing.
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Oil Prices Drop 8% Ahead of Possible Middle East Peace Talks
Oil prices dropped about 8% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days and cited constructive talks to resolve hostilities in the Middle East, hours before a deadline that threatened to escalate the four-week-old war.Brent futures fell $8.92, or 8.0%, to $103.27 a barrel at 12:31 p.m. EDT (1631 GMT), while U.S.
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Energy Prices Jump After Iran Attacks Qatar LNG Plant
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel on Iran came true.QatarEnergy CEO Saad al-Kaabi told Reuters the state-owned gas company may have to declare force majeure on long-term contracts to Italy, Belgium
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Oil Prices Rise As Iranian Attacks on UAE Continue
Oil prices rose more than 1% on Tuesday, as renewed Iranian attacks on the United Arab Emirates heightened concerns about the worsening outlook for global supply if there is no quick resolution to U.S.-Israeli war on Iran, now in its third week.Brent crude futures gained $1.33, or 1.3%, to $101.53 a barrel by 1515 GMT while U.S. West Texas Intermediate (WTI) crude advanced $1.21, or 1.3%, to $94.
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Cuba Reconnects Electrical Grid, Millions Remain Powerless
Cuba has reconnected its electrical grid across much of the island, the Energy and Mines Ministry said early on Tuesday, just hours after U.S. President Donald Trump escalated his rhetoric against the communist-run island, saying he could do anything he wanted with Cuba.Cuba's national electric grid collapsed on Monday, leaving about 10 million people without power amid a U.S.
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Oil Production Impacts in the Middle East
Most western oil and gas majors have significant operations in the Middle East, where the U.S.-Israeli war on Iran has disrupted oil and gas shipping and halted some output.France's TotalEnergies, which has the biggest upstream exposure to the region compared with its global output, has said some 15% of its production is offline due to the war.
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Ukraine Looks to Partner With Romania to Develop Black Sea Gas Discovery
Ukraine's Naftogaz, which discovered "substantial" offshore gas reserves in the Black Sea before Russia's invasion, is in talks with Romania's OMV Petrom to form a partnership relating to the field, three industry sources told Reuters.The sources did not indicate the amount of recoverable gas at the discovery, but one called it "one of the most promising gas fields in the Black Sea region"
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India Loads LPG onto Its Empty Vessels Stranded in the Gulf
India is loading liquefied petroleum gas onto its empty vessels stranded in the Persian Gulf as the country grapples with a gas shortage triggered by the conflict in the Middle East, an official from the federal shipping ministry said on Tuesday.Eight LPG carriers, 4 crude oil ships
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Poland Invites Offers for New LNG Terminal Ahead of Investing in Second Regasification Vessel
Polish gas pipeline operator Gaz-System said on Friday it has opened registration for parties interested in booking long-term capacity for regasified LNG as it decides whether to invest in a second regasification vessel in Gdansk.Gaz-System is building a liquefied natural gas terminal in the Polish port with a regasification capacity of 6.1 billion cubic meters (bcm) of gas per year.
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China Calls for Gulf Conflict to End, Addressing Southeast Asia Energy Shortages
China called for an end to conflict in the Gulf and said the safety of waterways should not be disturbed on Thursday, adding that it was ready to work with Southeast Asia to address energy shortages as oil markets reel from supply shocks.While the U.S.-Israeli war on Iran has allowed China to cast itself as the more reliable superpower, analysts say it is wary of global energy market uncertainty
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