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.
Water distribution resumed in Manatí, Las Tunas after over a month of service interruptions caused by pump station failures. Repairs to the main pumping facility and installation of a 10-kilometer pipeline have restored supply to urban areas.
Guyana becomes world's fastest-growing economy as Middle East tensions boost oil prices, but faces challenges diversifying beyond petroleum dependency and ensuring wealth reaches ordinary citizens.
Venezuela faces a severe electricity crisis affecting 90% of residents despite massive hydroelectric potential and oil reserves. The power system has reached critical capacity limits, jeopardizing economic recovery and oil production ambitions.
The IMF and World Bank alert to unprecedented depletion rates of global oil reserves amid geopolitical tensions in the Middle East, with oil prices hovering near $100 as the Strait of Hormuz faces closure threats.
Drivers are changing shopping habits to access cheaper gas at Costco and Walmart as prices surge, while oil executives warn of further increases ahead.
Two Bulgarian nationals were arrested on the M20 after allegedly stealing over 10 drums of cooking oil from a pub in Bearsted early May 29. Police recovered the items within 20 minutes of the reported burglary.
A gas pipeline rupture caused by construction damage triggered a massive explosion at a Dallas apartment complex, killing at least three people and injuring five others. Recovery efforts continue as crews search through debris.
Saudi Aramco and Emerson collaborate to develop next-generation corrosion management solutions using ultrasonic sensors, wireless connectivity, and real-time data analytics for oil and gas operations.
Multiple governments and airlines are issuing travel warnings and suspending service to Cuba amid an ongoing energy crisis, power outages, and fuel shortages affecting tourism and international connectivity.
Puerto Quequén completó su primer embarque de cadenas y anclas para el proyecto Vaca Muerta Oil Sur (VMOS) – Tramo 2, marcando su diversificación hacia la logística energética offshore.
The EU urges member states to redirect regional structural funds toward defense preparation, energy innovation, and security initiatives, combining FEDER and Just Transition funds to address the energy crisis.
Iran is shifting from threatening to close the Strait of Hormuz to implementing managed access control, using inspections and fees as bureaucratic coercion to gain lasting political and economic leverage over global energy trade.
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 chairmanship in 2029 while diversifying beyond oil-dependent economy.
EU gas storage levels are critically low at 35.4% in May 2026, the worst since 2021, due to Russian supply cuts and Middle East conflict reducing global LNG availability. Winter 2027 preparations lag significantly behind 2022 crisis levels.
Gazprom officially began commercial crude oil extraction at the Chona complex in eastern Siberia, featuring 150+ technical facilities and advanced engineering solutions for challenging geological conditions.
Canada and Germany finalize a landmark liquefied natural gas export agreement, with Canadian Finance Minister Carney positioning the deal as part of broader energy diversification away from US dependence.
QatarEnergy extended its LNG force majeure into mid-August following Iranian strikes, forcing buyers like Edison to source replacement volumes from U.S. suppliers amid European storage concerns.
Delhi's CNG prices jumped Rs 2/kg in the fourth hike within 15 days, while petrol and diesel also surged across major metros, driven by global crude volatility and West Asia tensions.
CNG prices in India rose ₹2 per kg for the fourth time in two weeks, reaching ₹83.09 in Delhi, driven by global crude volatility and West Asia conflict disrupting energy supplies.
CNG prices in Delhi and North India have increased ₹6/kg across four hikes in eleven days, with the latest ₹2/kg increase pushing costs to ₹83.09/kg amid West Asia geopolitical tensions affecting input gas costs.
Shrinking oil reserves are creating critical pressure on global energy markets, with Europe facing potential supply shortages and transport sectors experiencing price impacts as OPEC redefines export routes.
Chevron USA has launched its next-generation Techron fuel additive across all US Chevron and Texaco stations, claiming to remove up to 100% of harmful deposits in direct injection systems.
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 disruptions and geopolitical tensions.
CNG prices in Delhi-NCR increased by Rs 2 per kg, the fourth hike in two weeks, reaching Rs 83.09/kg in Delhi. Rising global energy costs linked to Middle East tensions are driving rapid fuel price increases.
