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Moroccan government spends $180mn monthly on butane gas subsidies

Morocco expects to spend up to MAD 1.6bn ($180mn) per month to subsidise butane gas, widely used for cooking, electricity and public transport, as it seeks to stabilise prices amid sharp global energy market volatility

IRGC launches wave of strikes targeting US and Israeli assets across Gulf and Israel

IRGC said it launched its 90th wave of operations targeting US steel interests in Abu Dhabi, Israeli air bases and US facilities across Kuwait, Saudi Arabia and Jordan in retaliation for strikes on Iran's steel sector.

Egypt signs $500mn investment deal with Arcius to develop Harmattan gas field

Egypt’s state-owned Egyptian Natural Gas Holding Company (EGAS) has signed a final investment decision (FID) agreement with energy firm Arcius to develop the Harmattan gas field in the Mediterranean, with total investments estimated at up to $500mn

Senior MP says Trump’s bid to seize Iranian oil will fail

A senior Iranian lawmaker said US President Donald Trump’s ambition to take the country’s oil “will never come true”, after Washington signalled interest in occupying Iran’s main export terminal at Kharg Island in the Persian Gulf.

Putin strengthens food supply ties with Egypt, proposes grain and energy hub

Russian President Vladimir Putin has instructed his government to work on securing food supplies to Egypt, particularly grain shipments, as part of efforts to strengthen strategic ties between the two countries.

Cheniere achieves substantial completion on Train 5 of Corpus Christi LNG Stage 3

Leading US LNG producer Cheniere Energy has achieved substantial completion on Train 5 of the Corpus Christi Liquefaction Stage 3 expansion project.

US gasoline prices rise above $4 per gallon

Average gasoline prices in the US rose above $4 per gallon ($1.06 per litre) this week.

Chevron backs Aseng gas project to extend Equatorial Guinea LNG exports

Chevron (NYSE:CVX) has approved the Aseng Gas Monetisation Project in Equatorial Guinea, advancing a development aimed at sustaining the country’s LNG exports into the mid-2030s, subject to final regulatory approval

Nigeria exports 950,000 barrels of new Cawthorne blend crude in first lifting from FSO terminal

Nigerian National Petroleum Company Limited has exported 950,000 barrels of a new Cawthorne blend crude, marking the first lifting from the FSO Cawthorne facility — Nigeria’s first new crude oil terminal in 50 years.

Ethiopia secures $13.1bn in deals led by $10bn Ming Yang investment into green ammonia project

Ethiopia has signed investment agreements and MoUs worth $13.1bn, including a $10bn planned investment by a Chinese company in green ammonia production and electrical equipment manufacturing projects.

A long Iran war will lead to severe shortages, says Oxford Economics

A sustained escalation of the US/Israel-Iran conflict could push global oil markets beyond a price shock into severe physical shortages, with rationing, supply chain disruption and recessionary pressures becoming increasingly likely.

Jurong Island’s output cut triggers $1.64 petrol spike in Australia

Singapore’s reclaimed oil refining region, the 32-square-kilometre Jurong Island, has become the primary driver of record-high petrol prices in Australia as Middle East supply shocks ripple through the Asia-Pacific energy corridor.

Venezuela opens for business, but investors weigh promise against reality

Reforms to oil, mining and financial laws have accelerated since the fall of Maduro, but legal ambiguity, institutional weakness and unresolved questions over democracy are tempering enthusiasm among investors, Orinoco Research says.

EBRD considers $223.5mn financing for AMEA Power to complete Egypt battery storage projects

Iran pushes ahead with solar and wind plants

Iran is building four solar plants and a wind farm targeting 100MW as the war batters the power grid, with the first phase due online by July 2026 amid repeated strikes on electricity infrastructure.

Ust-Luga and Primorsk to their lowest levels since pre-war time

Russia has lost over $1bn in oil export revenues Ukraine’s week-long attacks on its two most important Baltic Sea ports of Ust-Luga and Primorsk. Weekly shipments through both ports have fallen by two-thirds.

Gazprom Export sues former German trading subsidiary SEFE in Russian court

Gazprom Export filed a lawsuit in St Petersburg against its former German trading subsidiary SEFE, the latest in a series of Russian court actions against European energy firms since Western sanctions severed gas ties.

Golden Pass terminal produces first LNG

The Golden Pass LNG export terminal on the Texas Gulf Coast has produced its first LNG, marking substantial completion of construction and commissioning at Train 1.

UAE energy minister says world must not be held 'hostage' by Iran over Hormuz

The UAE's energy minister warned the world must not be "held hostage" by Iran over Hormuz, calling for a united stand on freedom of navigation as Abu Dhabi invests in alternative shipping routes on its eastern coast.

Iranian cruise missile strikes oil tanker in Qatari waters

An Iranian cruise missile struck an oil tanker leased to Qatar Energy in Qatari waters on April 1 after two others were intercepted, escalating Tehran's targeting of Gulf energy assets as the war enters its second month.

Japan’s LNG diversification will not shield it against global price spikes

Diversified supply portfolios and crude oil-indexed contracts, do not shield Japanese buyers as is claimed. Approaching week six of the war in Iran, Japan remains fully exposed to Middle East supply disruptions.

Vietnam’s Vingroup to swap LNG-fired plant for renewable energy project

Vietnamese conglomerate Vingroup is pivoting from building the country’s biggest LNG-fired power plant to a renewable energy project.

ING sees Azerbaijan as safe haven amid Middle East risks

Every $10 increase in oil prices adds approximately $3bn to Azerbaijan's annual export revenues, equivalent to 4% of GDP, ING analysts point out.

ExxonMobil, QatarEnergy plan new gas exploration wells in Egypt’s eastern Mediterranean

US energy major ExxonMobil (NYSE:XOM) and QatarEnergy are planning to drill new exploratory wells in the eastern Mediterranean by the end of 2026

BP plans $1.5bn investment to expand operations in Egypt

British energy major BP is currently planning to strengthen its presence in Egypt and expand its operations