Free Top Stories
Egypt tenders 10 oil storage depots amid Red Sea maritime shifts
Egypt has invited international energy firms to lease 10 major oil and petroleum product storage facilities at the Ain Sokhna and Ras Badran ports on the Red Sea.
The Straits of Hormuz have closed, but a trickle of tankers still getting through
Iran’s military declared the Straits of Hormuz were shut on March 2 and traffic fell to nearly zero within a day. But it is not at zero. At least five ships have traversed the passage since the blockade began.
Azerbaijan delegation discusses Baleine oil and gas project as SOCAR expands into Côte d’Ivoire
A high-level delegation from Azerbaijan held several meetings with senior officials from Côte d'Ivoire's Ministry of Foreign Affairs and the energy sector to discuss the Baleine oil and gas project.
Israel resumes limited gas exports to Egypt
Natural gas supplies from Israel to Egypt have begun to trickle back into the regional grid, albeit at a fraction of their usual capacity
VIDEO: Bahrain’s Bapco halts oil operations following Iranian attack
Bahrain's national energy company Bapco Energies declared a force majeure on operations following an Iranian drone attack on its refinery complex in Sitra during the early hours of March 9.
European gas prices surge further on Hormuz crisis
European gas prices have surged once more as a result of Iran’s blockade of the Strait of Hormuz that has knocked out around a fifth of global LNG supply.
Oil price spike at over $100 per barrel as market faces possibly worst crisis in history
Brent was trading at over $108 per barrel as of 06:30 GMT today, up from the early $70s prior to the US and Israel launch of strikes against Iran on February 28.
PetroShorouk earmarks $524mnn to develop Egypt's Zohr gas field in FY 2026/27
PetroShorouk, the venture responsible for managing and developing Egypt’s Zohr gas field, has allocated investments worth $524mn to develop and expand the field during FY 2026/27.
Germany’s Uniper opens talks to buy Canadian LNG
Germany’s state-run energy company Uniper has begun negotiations with Canada to buy LNG from the fledgling producer.
Japan weighs release of national oil reserves
The Japanese government is understood to be considering tapping its national oil reserves to prepare for potential prolonged supply disruptions as the US-Israeli conflict with Iran drags on.
Asia’s energy reserves under pressure as ‘2026 energy shock’ takes hold
The closure of the Strait of Hormuz has thrown a harsh spotlight on a simple but decisive question for Asian governments: how long their energy reserves can last as part of the 2026 energy shock
Saudi Arabia intercepts Iranian attacks on strategic infrastructure
The Saudi defence ministry has confirmed the interception of four drones and a ballistic missile, underscoring the persistent security risks to the Kingdom’s critical energy and military assets.
Two dead, four injured in Algerian Hassi Messaoud oil field blaze
Two workers have been confirmed dead and four others injured following a fire at Algeria’s Hassi Messaoud oil field, the largest in Algeria.
Iran offers free CNG fuel at selected stations in Tehran and Karaj
Selected CNG stations in Tehran and Alborz have begun offering free compressed natural gas to dual-fuel vehicles as part of a campaign to manage fuel consumption and support motorists during a period of heightened energy demand.
"Now it's business, not friendship." Russia ends discounted oil sales to India
Russian President Vladimir Putin told Indian Prime Minister Narendra Modi, “No more Mr Nice Guy. It’s just business now,” after the US softened sanctions on India’s purchase of Russian oil to alleviate a growing supply side squeeze.
Asia desperate for energy as Gulf disruption spreads
Across Asia, motorists are joining long lines at petrol stations as prices climb and governments across the region come to the realisation they could be left struggling to meet the energy demands of some of the world’s most populated countries.
US eases sanctions on Russian oil to keep markets supplied
US signals possible easing of sanctions on Russian oilThe US could remove sanctions on additional Russian oil supplies as Washington reassesses energy flows as Operation Epic Fury triggers the start of a global energy crisis.
IntelliNews Lambda: Europe’s gas storage drawdown slows as heating season ends, but EU will struggle to refill tanks this summer
Europe’s gas market is emerging from a difficult winter in its weakest position for years after a sharp acceleration in withdrawals from January, triggered by the “big freeze”, left storage levels well below their long-term norm.
Hormuz crisis: oil markets move from disruption to chaos
The global oil market is sliding from disruption into what could become a full-scale crisis, as the blockade of the Strait of Hormuz leaves Gulf exporters unable to ship crude and running out of storage capacity.
Gulf crude benchmarks surge as Kuwaiti oil jumps 10% and Brent nears $85 amid regional conflict
Kuwaiti crude jumps 10% to $92.81 per barrel as the Gulf conflict disrupts shipping through the Strait of Hormuz and threatens production across the region's energy exporters.
Qatar's energy minister warns Gulf-wide production shutdown looms
Qatar's energy minister warns all Gulf exporters face production shutdown within weeks, forecasting $150 oil and gas prices quadrupling as the Iran conflict chokes global energy flows.
COMMENT: Hormuz disruption unlikely to drive sustained oil price surge – Fitch
The effective closure of the Strait of Hormuz following the outbreak of conflict involving Iran is unlikely to persist long enough to trigger a sustained surge in global oil prices, according to Fitch Ratings.
Egypt activates second gas production well at West Burullus
Egypt’s Ministry of Petroleum and Mineral Resources said that a second gas well at the West Burullus field, part of Cairn Energy’s (LSE: CNE) investments, has been brought into production at a rate of 12mn cubic feet per day
India's Petronet LNG declares force majeure after QatarEnergy notice
India’s biggest LNG importer, Petronet LNG, has received a Force Majeure notice from QatarEnergy (QE), and as a result PLL has issued corresponding Force Majeure notices to companies that it supplies LNG to.
Follow us online