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LNG shipping rates surge as Hormuz disruption sends shock through energy markets
Charter rates for liquefied natural gas tankers have surged more than sixfold in less than a week as escalating tensions in the Middle East disrupt shipping routes through the Strait of Hormuz, sending a shock through global energy markets.
Domestic producers surpass 50% of Nigeria’s oil output as Oando reaffirms IPPG support
Domestic oil companies now produce more than 50% of Nigeria’s crude oil output, marking a significant shift in the country’s upstream sector as domestic operators assume a leading role previously dominated by international oil companies.
Nigeria power generation falls to 3,940MW amid gas shortages
Nigeria’s electricity generation has fallen to 3,940.53MW after persistent gas supply shortages forced several thermal power plants offline, increasing pressure on the national grid
Shell subsidiary to carry out geological exploration at Zhanaturmys field in Kazakhstan
Shell’s Kazakhstan subsidiary and the country’s Ministry of Energy have signed an agreement to carry out geological exploration at the Zhanaturmys field in Aktobe Region, the ministry announced on March 5.
South Africa’s Eskom warns of power disruptions as municipal debt exceeds $5.9bn
South Africa’s state utility Eskom has warned it may restrict electricity supply to 14 municipalities owing to arrears surpassing ZAR110bn ($5.9bn), triggering formal credit control procedures under the Promotion of Administrative Justice Act.
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.
Pampa Energía reports 32% rise in oil and gas output as Vaca Muerta drives growth
Pampa Energía, Argentina's largest independent energy company, said its oil and gas production increased 32% in 2025, supported by expanding operations in the shale formation Vaca Muerta.
Argentina signs record LNG export deal with Germany’s SEFE
Argentina has signed the largest liquefied natural gas (LNG) export contract in its history, with energy consortium Southern Energy agreeing to supply 2 million tonnes of LNG per year to Germany’s SEFE Securing Energy for Europe.
Argentina hits record oil output as Vaca Muerta drives growth amid global price surge
Argentina recorded its highest monthly crude oil production on record in January, government data showed, as output from the country’s vast shale formation Vaca Muerta accelerated while global oil prices climbed above $80 a barrel.
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.
Argentina’s Genneia secures up to $320mn financing from IDB Invest for renewable projects
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.
Nigeria’s OPL245 overhaul unlocks deepwater potential for Eni
Nigeria has cleared the way for development of the Zabazaba and Etan deepwater fields after converting OPL245 into new production and exploration licences, following a settlement between the government and Eni (BIT:ENI; NYSE:E).
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
Tanzania energy sector officials meet to improve oil and gas oversight
Tanzania’s Energy Minister, Deogratius Ndejembi, met senior officials from state energy agencies to discuss measures aimed at improving transparency and operational efficiency in the country’s oil and gas sector
Kazakhstan notified of arbitration appeal by Kashagan shareholders over $4.6bn environmental fine
Kazakhstan has been formally notified of an international arbitration appeal filed by shareholders of the Kashagan oil project over a KZT 2.3 trillion ($4.6bn) environmental fine imposed on the operator of the country’s largest offshore oil field.
Australia's Worley secures long-term contract to support operations at major Kazakh oilfield Tengiz
Worley (ASX: WOR), an Australian provider of engineering and energy services, has secured a long-term contract to support operations at Kazakhstan’s giant Tengiz oilfield, the company said in a statement.
Philippines considers emergency diesel reserves as oil prices surge
The Philippine government is considering establishing an emergency diesel reserve as global oil prices rise amid escalating tensions in the Middle East.
Taiwan reports oil and gas reserves above minimum
Taiwan holds sufficient crude oil reserves to cover more than 100 days of demand and natural gas stocks that would last for over 11 days, both exceeding the country’s mandated minimum levels, according to Economy Minister Kung Ming-hsin.
Arrow Exploration adds two wells at Colombia’s Tapir Block, boosting output
Arrow Exploration has brought two additional wells online at its Mateguafa field in Colombia’s Llanos Basin as part of its development programme on the Tapir Block, the company said in a statement.
South Korea warns oil firms over price collusion
President Lee Jae Myung issued a new warning to domestic oil refiners on March 6 over suspected coordination in raising fuel prices, as tensions in the Middle East continue to escalate following US and Israeli strikes on Iran.
Colombia recognises Canadian insolvency orders in Canacol
Colombia’s corporate regulator has recognised court orders issued in Canada as part of the insolvency proceedings involving Canacol Energy and its subsidiaries, enabling coordination between the two jurisdictions during the company’s insolvency
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.
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