Jeff Currie: Illusion of Oil Abundance Is Gone
Carlyle Group Chief Strategy Officer, Jeff Currie, has declared that the global oil market’s “illusion of abundance” has vanished, warning that the market has rapidly transitioned from a standard supply…
Oil prices remain elevated as U.S.-Iran strikes intensify across Middle East
(WO) — The United States and Iran exchanged a new wave of military strikes over the weekend, escalating tensions across the Middle East and reinforcing concerns over oil supplies, commercial…
China to Hike Retail Gasoline and Diesel Prices as Oil Jumps 12% in a Week
Following the surge in international crude oil prices in the past week, China will raise the domestic retail prices of gasoline and diesel, effective July 18, the state economic planning…
Chevron Moves Closer to Iraq’s Biggest Oil Prize—and a Hormuz Exit Strategy
Chevron is taking another step toward expanding its footprint in Iraq, and is set to sign two memoranda of understanding on Friday that will move the U.S. supermajor closer to…
EU Sets Target To Double Electrification Rate, Cut Oil & Gas Use
The European Union has unveiled the Electrification Action Plan, aiming for electricity to account for 46% of total energy consumption within the bloc by 2040, effectively doubling the current rate.…
Iraq Shuts Down Khor Mor Gas Field Amid Security Threats
United Arab Emirates’ Dana Gas has suspended operations at all main production facilities in the Khor Mor gas field due to credible security threats amid an increasingly volatile regional situation.…
China Seeks Long-Term LNG Deals Beyond the Strait of Hormuz
China’s giant state LNG importers are in talks to secure long-term LNG supplies from exporters that don’t need the Strait of Hormuz, as the world’s biggest LNG buyer seeks to…
South Korea Bets on Red Sea Route as Hormuz Disruptions Persist
Since the Iran war disrupted shipments through the Strait of Hormuz in early March, South Korea has been increasingly betting on the Red Sea route and the Saudi export terminal…
Japan’s LNG Giant Weighs U.S. IPO to Accelerate Global Expansion
JERA, the biggest Japanese LNG importer and largest power producer, is studying a potential listing in the United States as part of a plan to boost its international footprint, Reuters…
Libya Declares Major Oil Discovery Commercial as Production Revival Gains Pace
Libya’s National Oil Corporation, NOC, and Austrian energy firm OMV have declared the Essar oil discovery commercially viable as OPEC’s second-largest African producer pushes to revive its industry in partnerships…
