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US hits commercial tanker in Gulf of Oman as tensions flare
The ship tried to break through America’s naval blockade of Iranian ports, Central Command says of i...
Emergency Oil Releases Risk Draining the World’s Last Supply Cushion
Earlier this week, the International Energy Agency, after consulting with G7, said it would release ...
Tanker Rates Soar to Record as Oil Crisis Becomes Shipping Crisis
The cost of shipping crude oil soared to record highs last month as the Iran war reshuffled trade ro...
Norway’s Offshore Oil Production Beats Forecasts in April
Norwegian offshore oil production significantly exceeded expectations in April, with total liquids output climbing to 2.158 million barrels per day — 6.7% above official forecasts — as Europe grows in ...
This New Solar Battery Stores Energy Without Lithium or the Grid
The challenge of solar-powered energy has always been the means to store it. And the intermittency of solar and wind energy makes that storage capability essential. Energy from the sun and wind can on ...
JODI: Saudi Arabia Crude Exports Sink To Record Lows
Saudi Arabia's crude oil exports plummeted to 4.974 million barrels per day (bpd) in March, marking the lowest level on record since the Joint Organizations Data Initiative (JODI) began tracking the d ...
Nigeria Targets 100,000-BPD Oil Output Increase As Global Supply Disrupted
Nigeria is actively increasing its crude oil production in response to major global supply disruptions caused by the ongoing war in Iran, with authorities now aiming to raise output by 100,000 barrels ...
A Clean Shipping Crunch Is Looming Amid a Conventional Fuel Shortage
The escalation of conflict across the Middle East and the disruption to energy flows through the Strait of Hormuz have introduced a variable into the maritime energy transition that regulatory framewo ...
IEA: Oil Shock Sparks Surge in EV Sales
Electric vehicle sales could hit nearly 30% of all car sales in the world this year as drivers accelerate a shift to EVs and hybrids amid spiking fuel prices in the wake of the Iran war, the Internati ...
US Crude Oil, Gasoline Inventories Sinking Fast
Crude oil inventories in the United States decreased by 7.9 million barrels during the week ending May 15, according to new data from the U.S. Energy Information Administration (EIA) released on Wedne ...
UK Eases Some Russian Oil Sanctions as Fuel Prices Soar
As a result of spiking fuel prices and concerns about jet fuel supply shortages, the UK government has waived sanctions on imports of diesel and jet fuel processed from Russia-origin crude in third co ...
Three Supertankers Carrying 6 Million Barrels Exit Strait of Hormuz
Three commercial supertankers carrying a combined 6 million barrels of Middle East crude oil have successfully exited the Strait of Hormuz, Reuters reports. The vessels departed the strategic waterway ...
Indonesia Tightens Grip on Key Commodity Exports
Indonesia, the world’s biggest nickel producer and top coal exporter, is moving to tighten control over exports of key commodities, Indonesian President Prabowo Subianto said on Wednesday. The governm ...
Woodside CEO: Markets Are Badly Underestimating the LNG Supply Shock
The global gas markets are seriously underestimating how the shock loss of LNG supply from the Middle East will affect the world and economies in the coming months and years, the head of Australia's t ...
Energean Slashes Dividend After Israel Gas Shutdown Cuts Output
UK-based oil and gas producer Energean plc on Wednesday slashed its first-quarter dividend and full-year production outlook following a 41-day halt to production at a gas field offshore Israel due to ...