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 OPEP, Deepening Gulf Divisions and Saudi Tensions
The United Arab Emirates withdraws from OPEC, marking a significant split among Gulf oil producers and reshaping regional geopolitics as it seeks independence…
HighNewcastle University's sustainability professorship for oil heir sparks backlash
Newcastle University appointed Anant Ambani, heir to an oil fortune and operator of a controversial mega-zoo, as professor of sustainability, sparking backlash…
HighCommercial LPG hits record high with Rs 993 surge as West Asia conflict roils energy markets
Commercial LPG prices hit an all-time high with a Rs 993 hike, marking the third consecutive monthly increase driven by global energy costs tied to West Asia t…
HighChina's Bozhong 19-6 gas field begins full production in Bohai Sea
China's first 100-billion-cubic-meter Bozhong 19-6 gas field in the Bohai Sea has entered full operation, producing over 5,200 tonnes daily. The project suppor…
HighVenezuela, US ink Shell oil deal as Burgum visits Caracas
Venezuela's interim leader Delcy Rodríguez and US Interior Secretary Doug Burgum signed agreements with Shell and negotiated a major gold deal, signaling poten…
HighGas Prices Hit $4.23 Per Gallon as Energy Experts Warn of Further Increases
U.S. gas prices reached $4.23 per gallon, marking a new yearly high. Energy experts warn of further increases as geopolitical conflicts continue to disrupt glo…
HighPakistan petrol prices expected to drop from April 1 amid crude oil decline
Pakistan's petroleum product prices are expected to decline from April 1 following reduced international crude oil prices, with diesel potentially dropping Rs1…
MediumHouthis Seize Red Sea Island, Disrupting Global Trade Routes
Houthi militia captured a strategic island in the Bab al-Mandab Strait while Saudi Arabia shut down a critical oil pipeline following a drone attack from Iraq,…
HighU.S. Oil Tanker Blockade Deepens Cuba's Energy Crisis
The U.S. began blockading oil tankers to Cuba in January, intensifying an existing energy crisis on the island nation. CFR analysts examine the geopolitical an…
HighChevron Expands Venezuela Operations Despite US Sanctions Tensions
US oil giant Chevron confirms expansion of operations in Venezuela, marking a significant shift in US energy policy toward the sanctions-hit nation.
HighSaudi Arabia shuts oil pipeline as Houthis escalate Red Sea shipping disruptions
Saudi Arabia has shut down an oil pipeline as Houthi forces intensify attacks on shipping in the Red Sea, escalating regional tensions and threatening global e…
HighBlackstone, Brookfield y KKR arriendan oleoductos kuwaitíes por 16.000 millones
Blackstone, Brookfield y KKR firman acuerdo de arrendamiento por 16.000 millones de dólares para operar la red de oleoductos de Kuwait durante 20,5 años, la ma…
HighUS Sanctions Cuban State Oil Company CUPET Amid Rising Tensions
The US announced new sanctions against Cuba's state-owned petroleum company CUPET, escalating economic pressure on the island amid rising US-Cuba tensions unde…
HighUAE's OPEC Exit Signals Shift From Oil to Sovereign Wealth Strategy
The UAE announced its withdrawal from OPEC, marking a significant shift in the cartel's influence as the nation's diversified sovereign wealth fund now exceeds…
HighIran Allows Select Foreign Vessels Through Strait of Hormuz Amid Conflict
Iran permits select foreign vessels to transit the Strait of Hormuz after initial closure, allowing French, Japanese, and Omani ships passage while maintaining…
HighSuprema Corte dos EUA autoriza ExxonMobil a cobrar US$ 1 bilhão de Cuba
A Suprema Corte americana permitiu que a ExxonMobil cobre indenização de US$ 1 bilhão do governo cubano por bens nacionalizados após a Revolução de 1959, aplic…
HighOil edges higher as China eases COVID curbs, OPEC+ output gains questioned
Oil prices edged higher as China relaxed COVID restrictions, boosting demand expectations, while OPEC+ output increases face practical limitations due to sanct…
HighIndian Oil Stocks Rally on Venezuela Geopolitical Shift, ONGC Eyes $500M Recovery
Indian oil majors including RIL, ONGC, and IOC gained 1-2% following a US military operation in Venezuela that captured President Maduro, reviving investor int…
HighIndia Bolsters Energy Security: LPG Output Up 10%, 70% of Crude Bypasses Hormuz
India has increased domestic LPG production by 10% and shifted 70% of crude imports away from the Strait of Hormuz, reducing vulnerability to geopolitical disr…
MediumNayara Energy cuts fuel prices as global oil rates ease
Nayara Energy reduces petrol by ₹5/litre and diesel by ₹3/litre, marking the first retail fuel price cut in over two years as West Asian tensions ease and glob…
HighGas prices hit $4.54/gallon, highest since July 2022, amid Middle East tensions
U.S. gas prices hit $4.54/gallon, the highest since July 2022, driven by Middle East supply disruptions. Prices remain 52% above pre-conflict levels despite cr…
High13 killed in Qatar LNG facility explosion as operations restart
An explosion at Qatar's largest liquified natural gas facility in Ras Laffan killed at least 13 workers and injured 66 during restart operations after maintena…
HighTrump Admin Applies Venezuela Playbook to Cuba, Says Ex-Treasury Official
Former U.S. Treasury official Marshall Billingslea states the Trump administration is replicating its Venezuela strategy against Cuba, leveraging Cuba's loss o…
MediumONGC invierte Rs1 billón en aguas profundas y negocia proyectos en Venezuela
ONGC planea invertir aproximadamente Rs1 billón hasta 2031 en exploración en aguas profundas para añadir 5.600 millones de toneladas de reservas de petróleo, m…
MediumBombay High Court Dismisses CBI Petition Against RIL and Ambani
Bombay High Court rejected a petition demanding CBI investigation into allegations that Reliance Industries illegally extracted natural gas from ONGC's Krishna…
HighExxon's Guyana Oil Boom Faces Political and Territorial Headwinds
Exxon Mobil has made Guyana a major growth engine, but faces challenges from domestic political instability and Venezuela's territorial claims over the oil-ric…
HighOil Baron Betancourt Emerges as Key Figure in US-Venezuela Energy Deal
Alejandro Betancourt, a prominent oil baron, is central to a US-Venezuela oil agreement involving major energy companies. The deal raises questions about feasi…
MediumDangote's $1.6B IPO Promises Nigerian Ownership, But Affordability Remains Out of Reach
Africa's richest man Aliko Dangote is seeking $1.6 billion through an IPO to finance a $14.3 billion expansion of his oil refinery, aiming to double capacity a…
HighAt least 13 killed in explosion at Qatar's largest LNG facility
At least 13 people died and 66 were injured in an explosion at Qatar's main LNG processing facility in Ras Laffan on Sunday night. Officials ruled out sabotage…
HighIMO Chief: Naval Escorts Can't Guarantee Strait of Hormuz Safety
The IMO chief argues military escorts alone cannot ensure safe passage through the Strait of Hormuz, where 20% of global oil and gas transit, as disruptions in…
HighNayara Energy cuts fuel prices as global oil rates ease
Nayara Energy reduced petrol by Rs 5 and diesel by Rs 3 per litre, becoming the first retailer to cut prices in over two years following easing West Asia tensi…
HighTechnip Energies Begins Construction of Commonwealth LNG Plant in Louisiana
Technip Energies has received final authorization to construct Commonwealth LNG's liquefied natural gas plant in Louisiana, securing a €1 billion+ engineering…
HighUAE Exits OPEC, Sending Brent Crude Surging Past $111
The United Arab Emirates announced its withdrawal from OPEC, causing Brent crude to spike to $111/barrel and marking a significant blow to the oil cartel's coh…
MediumUAE Exits OPEC After Nearly 60 Years Over Production Quota Disputes
The UAE is withdrawing from OPEC after nearly 60 years, citing long-standing frustration with production quotas imposed by the oil cartel.
HighASEAN Summit Confronts Energy Crisis Amid Middle East Conflict
ASEAN leaders gather in the Philippines to address energy security threats from Middle East conflict while managing internal disputes over Myanmar and Thailand…
HighThree firms partner on hydrogen-natural gas blending for India's clean energy push
Three Indian companies form partnership to develop hydrogen-natural gas blending projects in city gas distribution, supporting India's clean energy transition…
MediumTimor-Leste Joins ASEAN, Eyes 2029 Chairmanship While Diversifying Beyond Oil
Timor-Leste officially joined ASEAN in 2025 after 14 years, with Malaysia's PM Anwar Ibrahim instrumental in building consensus. The nation now aims for ASEAN…
HighAncient settlement on Sri Lankan island rewrites early human occupation timeline
Archaeological excavations at Velanai Island in northern Sri Lanka reveal the earliest confirmed prehistoric occupation dating to 3,460 years ago, challenging…
HighSaudi Arabia Closes Key Oil Pipeline After Iraqi Drone Attack
A drone attack from Iraq forced Saudi Arabia to close its East-West pipeline, a critical alternative route that bypasses Iran's Persian Gulf blockade and threa…
HighAustralia faces petrol price surge to $2.15/litre as excise tax returns
Petrol prices forecast to reach $2.15/litre as excise tax returns while government faces scrutiny over $6.5bn defence project cost blowouts spanning decades.
HighVenture Global Doubles European LNG Commitment With Expanded Atlantic-SEE Deal
Venture Global expanded its 20-year LNG supply agreement with Greek joint venture Atlantic-SEE, doubling annual commitments to 1.0 MTPA for Central and Eastern…
HighNayara Energy cuts fuel prices as global crude softens, first reduction in over two years
Nayara Energy reduced petrol by Rs 5/litre and diesel by Rs 3/litre across 7,000+ stations, becoming the first retailer in over two years to cut prices as inte…
HighHormuz Strait Tensions Fuel Middle East Pipeline Expansion Amid Control Disputes
Tensions over the Strait of Hormuz are prompting Middle Eastern nations to develop alternative pipeline infrastructure, while uncertainty persists over control…
MediumSaudi pipeline damaged by drone strikes faces weeks-long shutdown, tightening global oil supply
A Saudi Arabian pipeline critical to global oil supply was damaged by drone attacks and will remain out of service for weeks, tightening oil markets and raisin…
HighConstitutional Court kills Shell's R1.1bn Wild Coast oil exploration plan
South Africa's Constitutional Court has permanently blocked Shell and Impact Africa's R1.1bn oil and gas exploration right off the Wild Coast, finding that com…
HighNon-Gulf oil producers capitalize on Strait of Hormuz crisis
Non-Gulf petroleum producers are capitalizing on regional tensions affecting the Strait of Hormuz, while Gulf monarchies face investor confidence challenges am…
MediumAlberta to vote on referendum that could fracture Canada
Alberta will vote next month on whether to hold a referendum on separating from Canada, potentially affecting North American energy supplies and national unity.
HighAuto sales, OMCs, textiles in focus as earnings season continues
Multiple Indian stocks face scrutiny as companies release Q4 FY26 earnings, with automotive, airline, textile, and energy sectors affected by policy changes an…
HighIndia cuts export duties on petrol, diesel, ATF from June 1
India's government revised export duties on petrol, diesel, and aviation fuel effective June 1, adjusting rates to ₹1.5, ₹13.5, and ₹9.5 per litre respectively…
HighOil-Sensitive Stocks Rally as Crude Drops Below $95 on Easing Geopolitical Tensions
Indian oil marketing companies, airlines, and paint stocks surged as Brent crude fell below $95/barrel amid easing geopolitical tensions and renewed US-Iran di…
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