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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.
Trump takes from Putin playbook with state-backed Hormuz maritime insurance
It wasn’t missiles that closed the straits of Hormuz. It was insurance companies. At the outbreak of hostilities international insurance companies canceled war-risk coverage.
Eight-hours grid-level battery capacity will complete the green energy revolution
What started as development banks pushing emerging markets to adopt green energy because of the Climate Crisis has been transformed after the cost of producing green energy plummeted. But 8-hour batteries are key to completing the evolution.
Oil production halts loom as Gulf storage facilities rapidly fill towards capacity
US President Donald Trump has said that he thinks the conflicts in Iran will go on for about a month. However if it lasts only four weeks then all of Iraq, Kuwait, UAE, and Qatar will be forced to shut down production after they run out of storage,
Croatia proposes nuclear energy law to boost low-carbon power by 2040
The government aims to nearly the double share of nuclear power in electricity generation in the next 15 years.
Alaska offshore lease sale fails to attract any bids
An oil and gas lease sale held in Cook Inlet offshore Alaska received no bids upon closing this week
Europe’s gas crisis deepens as Putin turns the tables on Europe, threatens to cut off supplies early
Russian President Vladimir Putin sought to capitalise on the chaos on the energy markets by threatening to cut off Russian gas supplies to Europe, which is already facing a gas crisis that will amplified by the escalating war in Iran.
US shale unlikely to replace Middle Eastern oil, industry players and analysts warn
The shale industry cannot increase production rapidly enough to replace any supply disrupted as a result of the conflict in Iran in the near term, according to warnings from both industry participants and analysts.
Nigeria’s Dangote Refinery raises fuel prices as war with Iran continues
Nigeria’s 650,000 barrels per day (bpd) Dangote Refinery increased its petrol price by N101 ($0.073) this week to N875 ($0.63) per litre from N774 ($0.56) per litre, sparking concerns about cost of living.
Angola’s Sonangol in talks with Chinese lenders for $4.8bn loan
Angola’s state oil company Sonangol is currently in talks with Chinese banks as part of efforts to obtain a $4.8bn loan for the construction of the 200,000 barrels per day (bpd) Lobito refinery.
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