(BOE Report) – Oil prices have soared while share markets have skidded on fears that the escalating U.S.-Israeli war on Iran will squeeze energy supplies and hamstring industries around the world. Following are actions that governments are taking or plan to take to reduce the impact of the war on their economies. SOUTH KOREA PLANS FUEL CAP South Korean President
(By Oil & Gas 360) – China continues to deepen its energy ties with both Iran and Latin America, strengthening supply chains while expanding its economic influence across key resource regions. In Iran, Beijing’s engagement centers largely on oil, gas, and infrastructure. China is one of the largest buyers of Iranian crude, accounting for over about 80% of Iran’s oil
(Oil Price) – The global LNG shipping market has turned sharply higher in recent days, with charter rates for modern LNG carriers surging from roughly $40,000 last week to around $300,000 per day as traders scramble to secure vessels amid escalating disruption in the Middle East. According to shipbroker Fearnleys’ latest weekly LNG report, cited by Riviera Maritime Media, daily spot charter
(Oil Price) – Shell and Kazakhstan have signed an agreement for oil and gas exploration in the Zhanaturmys block in western Kazakhstan, the Kazakh Energy Ministry said on Thursday. The agreement – signed by Kazakhstan’s Deputy Energy Minister Yerlan Akbarov and Suzanne Coogan, Senior Vice President and Country Chair at Shell Kazakhstan – entails seismic exploration, data collection, and technical assessment of potential
(Oil Price) – The Queensland government has appointed its preferred tenderers to explore for oil and gas in the Taroom Trough, in a move to potentially open Australia’s first new major hydrocarbon province since the 1970s. The Queensland government announced on Tuesday it is awarding exploration rights to Omega TN Pty Ltd, Tri-Star Stonecroft Pty Ltd, and Drillsearch Energy Pty Ltd to drill
(Investing) – LONDON – Oil prices were stable on Monday after the U.S. and Iran pledged to continue indirect talks, easing oil supply fears, but India stepping away from Russian purchases gave prices a floor and global stock markets rallied. Brent crude oil futures were up 6 cents, or 0.1%, at $68.11 a barrel by 1304 GMT, while U.S. West Texas Intermediate crude rose
(Investing) – Oil prices steadied Tuesday after logging steep losses in the prior session as traders digested a trade deal between India and the U.S. as well as cooling tensions between the U.S. and Iran. At 11:27 ET (16:27 GMT), Brent oil futures for April rose 1% to $66.94 a barrel and West Texas Intermediate crude futures rose 1.1% to $62.84 a barrel. Both benchmarks
(BOE Report) – At least three liquefied natural gas (LNG) cargoes loaded in Australia and Canada are heading toward Europe and the Americas instead of their usual destination, Asia, after an Arctic storm curbed exports from the U.S., shiptracking data showed. The diversion of supply away from Asia could tighten supply and support spot LNG prices in the region. While
(BOE Report) – Where exactly is the expected supply glut in the global crude market? The best answer is China, which saw storage flows surge in December, resulting in a surplus of more than 1 million barrels per day for 2025. China’s surplus of crude oil jumped to 2.67 million bpd in December, up from 1.88 million bpd in November
(BOE Report) – The U.S. takeover of Venezuela’s oil exports has re-routed crude barrels that were being used to service debt owed to China. How much does Venezuela owe China, and how and why was the country getting debt payments after Venezuela’s default? HOW MUCH DOES VENEZUELA OWE CHINA? Data on Venezuela’s debt is sketchy, particularly since 2017 when U.S.
(Oil Price) – Japan’s Tokyo Electric Power Co. will today restart its first nuclear reactor after the Fukushima disaster. Reactor #6 at the Kashiwasaki Kariwa power plant will be switched on after 7 pm local time, Bloomberg reported, citing a company news release. The reactor has a capacity of 1.36 GW, Reuters noted in a report on the news. Kashiwasaki Kariwa is the world’s
(World Oil) – ADNOC Gas has signed a long-term liquefied natural gas sales and purchase agreement with Hindustan Petroleum Corporation Limited, strengthening energy ties between the UAE and India as Asian LNG demand continues to grow. The 10-year agreement is valued at approximately $2.5 billion to $3 billion and covers the supply of 0.5 million tonnes per year of LNG. Deliveries will be
