Energy
Western energy majors are expected to report combined record profits of $200 billion in 2022, driven by volatile oil and gas prices following Russia's Ukraine invasion, with strong earnings projected to continue into 2023.
UAE Exits OPEC Amid Regional Tensions and Energy Crisis
The UAE announced its withdrawal from OPEC, citing regional tensions and concerns over oil shipping through the Strait of Hormuz. The move represents a signifi…
HighTrump administration pursues California oil strategy amid pipeline disputes
Trump administration officials are in active dialogue regarding California's strategic petroleum reserve and oil infrastructure, with White House representativ…
MediumAsia faces severe economic strain from Strait of Hormuz energy crisis
Asia faces unprecedented energy vulnerability as Strait of Hormuz disruption drives oil to $138/barrel and LNG prices surge 108%, threatening regional economie…
HighAzerbaijan's SOCAR builds energy dominance across Israel's gas sector
Azerbaijan's SOCAR has become a major player in Israeli gas infrastructure, holding stakes in multiple fields and providing backup LNG supplies to Egypt and Jo…
HighKuwait's KPC Monetizes Pipeline Network With $16B Lease-Leaseback Deal
Kuwait Petroleum Corporation signs a major $16 billion lease and leaseback agreement for its oil pipeline network, a significant financial transaction for the…
HighSaudi Arabia, UAE defend OPEC cuts as US warns of global economic uncertainty
Saudi Arabia and UAE defend OPEC's oil production cuts while US envoy warns of global economic uncertainty, exposing widening diplomatic rifts between Washingt…
HighIran attacks UAE for first time since truce, targets key oil refinery
Iran launched drone attacks on UAE oil infrastructure for the first time since a regional ceasefire, targeting the Fujairah refinery complex and disrupting glo…
HighLNG's biggest challenge shifts from supply to demand as geopolitical risks reshape market
The Strait of Hormuz crisis has shifted LNG's primary risk from supply scarcity to demand destruction, as geopolitical instability accelerates alternatives whi…
HighGulf Energy Producers Invoke Force Majeure as Strait of Hormuz Tensions Roil Global Markets
Gulf energy exporters are invoking force majeure clauses to suspend LNG deliveries due to shipping disruptions through the Strait of Hormuz caused by Iran-US-I…
HighUAE exits OPEC after 50+ years, weakening Saudi-led cartel
The United Arab Emirates announced its withdrawal from OPEC after more than 50 years of membership, effective May 2026. The departure weakens the cartel's cohe…
HighRwanda Eyes Stake in Dangote's $16B East African Oil Refinery
Rwanda is considering investing in a $16 billion oil refinery proposed by Nigerian businessman Aliko Dangote for Lamu, Kenya, with potential regional participa…
HighCar Ownership Costs Surge 50% Since 2020, Driven by Repair and Insurance Hikes
Car ownership costs have jumped 50% since 2020, driven primarily by repair expenses up 70%, insurance rates, and maintenance—far outpacing gas price increases.
HighSaudi Pipeline Resumes Operations After Drone Attack Damage
Saudi authorities have resumed operations on a vital oil pipeline after it was damaged in a drone attack by an Iranian-backed Iraqi militia earlier this month.
HighNayara Energy cuts fuel prices as global oil rates ease
Nayara Energy reduced petrol by ₹5/litre and diesel by ₹3/litre across 7,000+ stations, marking the first retail fuel price cut in over two years following eas…
HighCommercial LPG prices surge Rs 993 as West Asia conflict disrupts global energy
India raised commercial LPG prices by Rs 993 per cylinder Friday due to global energy disruptions from the West Asia conflict, while keeping domestic fuel pric…
HighHouthi Drone Attack Kills 3, Including 2 Indians, in Abu Dhabi
A suspected Houthi drone attack in Abu Dhabi killed three people, including two Indians, and injured six others, causing explosions on oil tankers and a fire a…
HighDwindling oil reserves threaten strained global energy market
Shrinking oil reserves are creating critical pressure on global energy markets, with Europe facing potential supply shortages and transport sectors experiencin…
MediumOil prices ease as UAE exits OPEC, but Hormuz tensions keep supply tight
Oil prices eased after UAE's OPEC exit raised supply expectations, though Hormuz blockade and Iran tensions continue supporting elevated price levels. Markets…
HighSaudi Arabia boosts Gulf exports after pipeline attack as oil prices fall below $100
Saudi Arabia has ramped up Gulf oil exports after a pipeline attack, easing global supply concerns and contributing to falling oil prices below $100 per barrel…
HighGas infrastructure expansion critical to Nigeria's industrial growth, Shell says
Shell Nigeria Gas emphasizes that expanding gas distribution infrastructure and strengthening market-making roles are essential to transforming Nigeria's gas r…
HighOPEC+ Maintains Oil Output Steady Amid U.S.-Iran Tensions
OPEC and allied nations agreed to keep oil output unchanged in October amid geopolitical tensions including U.S.-Iran strikes, maintaining current production q…
HighGas prices dip below $4 as oil market softens amid geopolitical shifts
U.S. average gas prices have fallen below $4 per gallon following oil market weakness and a Trump administration deal to reopen the Strait of Hormuz, signaling…
HighTrump Directs DOJ to Investigate Gas Price Gouging as Oil Prices Fall
Trump directs the DOJ to immediately investigate alleged price gouging by oil companies, claiming gas prices aren't declining proportionally with crude oil pri…
HighPersian Gulf Oil Production Plummets Amid Strait of Hormuz Disruption
Persian Gulf nations have slashed oil production by 10 million barrels daily following the effective closure of the Strait of Hormuz, triggering a global energ…
MediumSaudi Arabia's East-West pipeline closure threatens global oil supply stability
Saudi Arabia's closure of its East-West pipeline disrupts a critical oil transport route, potentially affecting global energy supplies and market prices amid r…
MediumTrans Mountain CEO links US trade tensions to pipeline expansion urgency
Trans Mountain's CEO argues that US trade tensions increase the urgency for Canada's oil pipeline expansion, positioning energy infrastructure as a strategic r…
HighPakistan Braces for Fuel Price Hike as Petrol, Diesel Set to Rise from Dec 16
Pakistan's petrol and diesel prices are projected to increase by Rs. 2.50-2.60 per liter from December 16, driven by new taxes on petroleum products to support…
HighFuel prices hit 4-year highs as petrol, diesel surge Rs 7.5/litre in 11 days
Petrol and diesel prices hit their highest levels since May 2022 with a fourth hike in 11 days, rising Rs 7.5 per litre cumulatively due to global crude oil di…
HighTrump's Strait of Hormuz blockade threatens global energy crisis
Trump threatens total naval blockade of Strait of Hormuz to cut Iranian oil exports, risking global energy crisis and escalating Middle East tensions after fai…
HighOil edges up on OPEC demand forecast as U.S. cold snap cuts production
Oil prices rose as OPEC projected robust global demand growth through 2025, while extreme cold in North Dakota cut U.S. production by up to 700,000 barrels dai…
HighOil prices slip as U.S. inventory surge stokes supply glut concerns
Oil prices declined as unexpected U.S. crude stockpile growth raised supply glut concerns, compounded by rising COVID-19 cases threatening fuel demand recovery.
HighIndian Markets Set for Muted Open as Earnings Season Looms
Indian benchmark indices signal a marginally lower open despite positive global cues, as investors balance easing crude oil prices and earnings season optimism…
HighScientists finally explain why carbon black makes airplane tires unbreakable
Researchers at University of South Florida used molecular simulations to finally explain how carbon black reinforces rubber in aircraft tires, solving a 100-ye…
HighTrump vows US oil firms will 'fix' Venezuela's petroleum sector after Maduro capture
Following Maduro's capture by US forces, Trump announces plans to open Venezuela's oil sector to major American companies for infrastructure repair and profit…
MediumOPEC+ Approves 188,000 Barrel Daily Production Increase for June
OPEC+ announced a production increase of 188,000 barrels per day effective June 2026, signaling continued efforts to manage global oil supply and market stabil…
HighDrone strikes power station near Libya's largest oil refinery
A drone struck a power station in Zawiya near Libya's largest operational oil refinery, prompting government consideration of a shutdown following recent repea…
MediumChina Orders Energy Firms to Defy U.S. Sanctions on Iran Oil Trade
China's Commerce Ministry orders domestic energy companies to ignore US sanctions on Iranian oil operations, escalating geopolitical tensions over petroleum tr…
HighKuwait Tanker Hit by Projectile Near Fujairah; Minor Damage Reported
A Kuwait-flagged tanker was struck by an unknown projectile near Fujairah, UAE, sustaining minor damage with no injuries or environmental impact reported. The…
MediumSaudi Arabia cancels European oil shipments after pipeline attack
Saudi Arabia cancelled oil deliveries to Europe after drone attacks damaged its East-West pipeline to the Red Sea, triggering global energy market disruptions…
HighStrait of Hormuz closure removes 100M barrels weekly from oil market
Closure of the Strait of Hormuz removes approximately 100 million barrels of oil weekly from global markets, according to Saudi Aramco, threatening energy secu…
HighOil prices surge to 4-year highs as Middle East conflict threatens global supply
Oil prices surge to nearly four-year highs as U.S.-Iran tensions threaten Middle East energy infrastructure and disrupt Strait of Hormuz shipping, which carrie…
HighVenezuela signs gas exploration deal with BP as US sanctions ease
Venezuela signed a memorandum with British Petroleum to explore offshore gas fields in Deltana and Loran-Manatee, marking BP's return after US sanctions relaxa…
HighIraq seizes drone platform after Saudi pipeline strike, reshuffles border commanders
Iraqi forces seized a drone-launching platform used in an attack on Saudi Arabia's East-West oil pipeline, which carries 4-5% of global oil supply. Iraq is inv…
HighCNG Prices Surge Again in Delhi-NCR as Second Hike in Two Days Hits Commuters
CNG prices in Delhi-NCR jumped Re 1 per kg to Rs 80.09, marking the second hike in two days as global crude oil tensions drive fuel costs higher across India.
HighOil Prices Surge on Saudi Pipeline Attack Concerns
Oil prices surged following a drone attack on a critical Saudi Arabian pipeline, raising concerns about Persian Gulf energy supply disruptions and triggering m…
HighCIA Chief Visits Cuba Amid Deepening Energy Crisis
CIA Director John Ratcliffe visited Havana to meet Cuban officials including Raul Castro's grandson as the island faces severe energy shortages and oil depleti…
HighDangote's $2.2T Refinery to Transform Lamu Into East Africa's Energy Hub
Africa's largest refinery project begins construction in Lamu, Kenya, promising 60,000 jobs and positioning East Africa as a regional energy hub while transfor…
HighIndian LPG tankers resume Strait of Hormuz transit after pause
Two Indian LPG tankers are resuming transit through the Strait of Hormuz after a pause, while crude oil shipments remain disrupted amid U.S. sanctions tensions.
MediumChurchill's Arctic Port Bets on Climate Change and Global Shifts
Canada is investing heavily in expanding Churchill's Arctic port to create a year-round shipping route to Europe, driven by climate change, US trade tensions,…
HighSpanish court links Zapatero to Venezuela oil deals with Delcy Rodríguez
Spanish judicial investigation alleges former PM Zapatero orchestrated petroleum operations from the presidential office involving Venezuelan official Delcy Ro…
Medium