Equinor Signs $1.8 Billion in Drilling Deals to Keep Oil and Gas Output High
Equinor has extended $1.8 billion worth of drilling and well services supplier contracts as the Norwegian energy major looks to keep high oil and gas production offshore Norway and deliver…
China Orders Refiners to Ignore U.S. Sanctions on Key Iranian Oil Buyers
In a major escalation of trade tensions between Washington and Beijing, China’s Ministry of Commerce (MOFCOM) has formally invoked its 2021 Blocking Rules for the first time to counteract U.S.…
Oil Prices Jump After Iran Claims Missile Strike on U.S. Navy Vessel Near Hormuz
Oil prices rallied again on Monday morning after Iran’s Fars news agency reported that two missiles struck a U.S. Navy vessel near Jask Island on the Gulf of Oman, just…
TTF Futures Swing From Loss to Gain After Iran Rejects Trump’s Hormuz Plan
European benchmark natural gas prices erased an early 3% loss at Monday opening and were up by 1.3% in morning trade in Amsterdam, as the commodity markets watch with apprehension…
UAE: OPEC Exit ‘Not Directed Against Anyone’
The United Arab Emirates has not directed at anyone its decision to leave OPEC and the broader OPEC+ alliance, Sultan al Jaber, the chief executive of Abu Dhabi’s national oil…
Gulf tensions rise as US shipping plan starts
By 20 min ago 2 min read The US is to accompany commercial shipping through the Strait of Hormuz under a new initiative launching today (4 May). Project Freedom aims…
AOI wins $20.85m state grant for semiconductor capacity expansion
By 27 min ago 2 min read US semiconductor manufacturer Applied Optoelectronics (AOI) has secured a $20.85m state grant from the Texas Semiconductor Innovation Fund (TSIF) to expand its semiconductor…
First India-Bound LPG Tanker Clears Hormuz Since U.S. Blockade Began
A tanker carrying liquefied petroleum gas (LPG) passed through the Strait of Hormuz this weekend en route to India in the first crossing of an India-linked LPG cargo since the…
Global Methane Cuts Could Unlock Double the Gas Volumes Hit by Hormuz Crisis
Global methane abatement measures across major gas exporters and importers could unlock, in the longer term, natural gas volumes that would be double the current supply trapped by the effective…
$125 Oil Could Tip Global Economy Into Recession
Elevated oil prices for a sustained period of time would tip the global economy into a recession, Moody’s Analytics’ head of international economics, Gaurav Ganguly, told CNBC, pegging the game-changing…
