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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.
Strikes on Iran gas fields could force Turkey to ramp up LNG imports
Damage to Iran’s Asaluyeh gas processing facility in Bushehr province and part of the South Pars complex, after an Israeli missile strike on March 18, risks disrupting pipeline supplies to Turkey, potentially forcing Ankara to raise LNG imports.
US eases Venezuela oil sanctions as Iran war drives crude prices higher
The Trump administration has issued a sweeping new sanctions licence allowing US companies to trade directly with Venezuela's state oil company, as surging crude prices driven by the conflict with Iran push Washington to hunt for new sources of crude
Iran warns civilians near Gulf oil facilities to evacuate immediately, names Saudi, Qatari and UAE targets
Iran's IRGC orders civilians near Gulf oil facilities to evacuate and names specific targets in Saudi Arabia, Qatar and the UAE.
Egypt’s Petrojet secures $4.7bn pipeline contracts as it expands into new sectors
Egyptian oil services company Petrojet, the engineering and construction arm of Egypt’s petroleum sector, has secured contracts for future projects worth EGP 246bn ($4.7bn) through 2029, both domestically and internationally,
Turkish plastics industry hit by Middle East conflict as supply chains break down
Logistics and polymer input prices soar.
Israel strikes Iran's Asaluyeh gas complex, the country's largest gas processing facility
Israel strikes Iran's Asaluyeh gas processing complex in Bushehr for the second time.
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