Big Oil’s War-Related Profits Anger Governments
Oil and gas supermajors are on course to post markedly higher second-quarter earnings, and the windfall is drawing political fire on both sides of the Atlantic, according to a report by OilPrice.com.
Industry News
LNG Supply Crisis Pushes Buyers Toward Coal and Oil
The resumption of the Iran conflict, including the effective closures of the Strait of Hormuz and now the Strait of Bab el-Mandeb has driven up natural gas prices, particularly in Europe and Asia.
Kazakhstan Restarts CPC Oil Exports After Week-Long Black Sea Shutdown
Kazakhstan resumed crude exports through the Caspian Pipeline Consortium (CPC) on Monday after the operator reopened its Black Sea marine terminal and resumed accepting crude from producers following a week-long suspension triggered by drone attacks, Kazakhstan’s Astana Times reported. Two…
Why the UAE Is Taking a Bigger Piece of America’s LNG Crown Jewel
XRG, the international investment arm wholly owned by Abu Dhabi National Oil Company (ADNOC), has increased its equity stake in the Rio Grande LNG project at the Port of Brownsville, Texas, acquiring an additional 7.6% interest in Trains 4 and…
Brent Breaks $96 as U.S. Strikes Iran for 12Th Consecutive Night
The latest oil price rally showed no sign of stopping in early Asian trading on Thursday, with both benchmarks climbing to their highest levels in more than six weeks as the U.S. and Iran continued to exchange strikes.
Houthi Threats Force Saudi Crude Tanker Onto Suez Route To Asia
The Houthi threats to shipping in the Red Sea and its chokepoint, the Bab el-Mandeb Strait, have forced at least one oil tanker carrying Saudi crude to Asia to choose the much longer route through the Suez Canal, the Mediterranean,…