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Renewables supply nearly half of EU electricity in 2025
Almost half (47%) of the European Union’s electricity was generated from renewable sources in 2025, according to new data from Eurostat, which will provide a significant buffer at a time when the fossil fuel markets have been plunged into chaos.
Turkey’s diesel tax buffer evaporates amid booming oil prices and refinery margins
Annual rise in diesel price reaches 57% versus 37% on gasoline.
Kyrgyzstan: Ousted security services chief now facing corruption allegations
Suspected of involvement in scheme to skim millions while he led an anti-corruption campaign.
Saudi Arabia intercepts 27 drones launched towards the kingdom
Saudi air defences shoot down 27 Iranian drones, 26 of them over the oil-rich Eastern Province, as attacks on the kingdom's energy heartland continue into the conflict's fourth week.
Trump administration reviewing plans to seize or blockade Iran's Kharg Island
The Trump administration is reviewing plans to seize or blockade Iran's Kharg Island, which handles 90% of the country's oil exports, to force Tehran to reopen the Strait of Hormuz
Israel's South Pars missile strikes knock out a fifth of Qatar's LNG production
Iran’s missile strikes on Qatar’s Ras Laffan LNG complex at the start of the war sent a shock wave through the $400bn global LNG market. Israel’s attack on South Pars gas complex on March 18 has locked in the worst case scenario.
Iran begins charging vessels to transit Strait of Hormuz through IRGC-controlled 'safe corridor'
Iran begins charging up to $2mn per vessel for passage through a new IRGC-controlled "safe corridor" in the Strait of Hormuz, with India, China, Pakistan and Iraq among countries negotiating access.
Iran’s permits-for-passage through Hormuz system is developing fast
Iran has begun extracting payments of up to $2mn per tanker for passage through the Strait of Hormuz, as the informal permits-for-passage system allowing only tankers from “friendly countries” through develops quickly.
Malaysia emerges as regional energy and stock haven as Iran war drags on
Malaysia has emerged as one of Southeast Asia’s top-performing markets as the war in Iran drives energy prices higher and pushes global investors towards economies better positioned to weather volatility.
Russia accuses Ukraine of trying to disable pipelines that deliver gas to Turkey, Hungary and Slovakia
Gazprom alleges 26 attack drones tried to reach compression stations vital to TurkStream and Blue Stream operations.
ING: Energy markets brace for a prolonged supply disruption
There are few signs of de-escalation or a resumption in energy flows from the Persian Gulf. The market is having to reprice the duration of ongoing supply disruptions. We have updated our scenarios for oil and gas markets.
Arcius Energy plans to drill two Mediterranean gas wells in Egypt
Arcius Energy is set to begin drilling two new gas exploration wells in Egypt’s Mediterranean waters as part of a broader campaign to expand upstream activity
Mozambique Energy Chamber withdraws from London Africa Energies Summit
The Mozambique Energy Chamber (MEC) has announced that its members will withdraw from attending the Africa Energies Summit hosted by Frontier Energy Network in London on May 12 – 14.
Iran Kharg Island oil exports continue at 1.4mn bpd, as US set to unfreeze sanctions on oil tankers
Iran's Kharg Island oil exports continue at up to 1.5mn bpd despite US strikes, with core loading infrastructure intact and shipments flowing to Asian buyers.
Trump administration holds record lease sale in Alaska’s National Petroleum Reserve
The administration of US President Donald Trump has held the most successful oil and gas lease sale to date in the National Petroleum Reserve-Alaska.
US to release 172mn barrels from SPR in co-ordination with IEA
US President Donald Trump authorised the US Department of Energy to release 172mn barrels from the country’s Strategic Petroleum Reserve last week.
Latin America protects domestic markets as oil, gas prices rise
Mexican President Claudia Sheinbaum announced her government will apply fuel subsidies through reductions in the IEPS excise tax on both petrol and diesel as the Middle East conflict pushes up global oil prices and strains domestic fuel costs.
Asia turns to Russian fuel in record volumes
China is also increasing its purchases from Russia, with imports estimated at 1.2mn to 1.5mn tonnes – primarily for use as a substitute feedstock in refineries.
Libya discovers 1 trillion cubic feet of offshore gas in Bahr Essalam
Libya has announced a new offshore gas discovery estimated at around 1 trillion cubic feet.
Japan petrol prices hit record level
Japan’s average retail petrol price has reached a record JPY190.80 ($1.19) per litre, reflecting higher crude costs linked to the Iran conflict, according to data released on March 18 by the nation’s industry ministry.
Data on super-polluting plumes show Turkmenistan’s joining of Global Methane Pledge has achieved little
Still one of the worst for potent mega-leaks.
Brazil's fuel market rattled by price surge as Petrobras cancels auctions and distributors fear shortfall
Brazil's fuel market has been thrown into turmoil by the ongoing conflict in the Middle East, with gasoline and diesel prices hitting fresh highs, the state-owned oil company Petrobras suspending fuel auctions, and distributors worried about supply.
Morocco says fuel reserves cover 30 days amid rising global prices
Morocco has sufficient fuel reserves to meet around one month of domestic demand. Global energy prices continue to rise due to geopolitical tensions and supply disruptions driven by the US-Israeli war on Iran
Kyrgyzstan offers moratorium on business inspections, tax service explains “slowness” in probing Kyrgyzneftegaz graft
Journalist was expelled from country when he raised similar corruption claims four years ago.
Russian oil tankers close in on Cuba after island's worst blackout in decades
Russia has sent two ships carrying crude oil and gas to Cuba as the Caribbean island endures its worst energy crisis in living memory, with a 29-hour nationwide blackout underscoring the depth of a sanctions-induced fuel emergency.
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