JODI: Saudi Arabia Crude Exports Sink To Record Lows
Saudi Arabia’s crude oil exports plummeted to 4.974 million barrels per day (bpd) in March, marking the lowest level on record since the Joint Organizations Data Initiative (JODI) began tracking…
Nigeria Targets 100,000-BPD Oil Output Increase As Global Supply Disrupted
Nigeria is actively increasing its crude oil production in response to major global supply disruptions caused by the ongoing war in Iran, with authorities now aiming to raise output by…
IEA: Oil Shock Sparks Surge in EV Sales
Electric vehicle sales could hit nearly 30% of all car sales in the world this year as drivers accelerate a shift to EVs and hybrids amid spiking fuel prices in…
Woodside CEO: Markets Are Badly Underestimating the LNG Supply Shock
The global gas markets are seriously underestimating how the shock loss of LNG supply from the Middle East will affect the world and economies in the coming months and years,…
Energean Slashes Dividend After Israel Gas Shutdown Cuts Output
UK-based oil and gas producer Energean plc on Wednesday slashed its first-quarter dividend and full-year production outlook following a 41-day halt to production at a gas field offshore Israel due…
UK Eases Some Russian Oil Sanctions as Fuel Prices Soar
As a result of spiking fuel prices and concerns about jet fuel supply shortages, the UK government has waived sanctions on imports of diesel and jet fuel processed from Russia-origin…
Three Supertankers Carrying 6 Million Barrels Exit Strait of Hormuz
Three commercial supertankers carrying a combined 6 million barrels of Middle East crude oil have successfully exited the Strait of Hormuz, Reuters reports. The vessels departed the strategic waterway on…
Indonesia Tightens Grip on Key Commodity Exports
Indonesia, the world’s biggest nickel producer and top coal exporter, is moving to tighten control over exports of key commodities, Indonesian President Prabowo Subianto said on Wednesday. The government is…
EU approves €288m German state aid for two semiconductor projects
By 32 min ago 2 min read The European Commission has approved €288m ($334m) in direct grants through German state aid to develop two domestic semiconductor facilities and strengthen the…
Would USA Allow Iran Hormuz Tax In Exchange for Peace Deal?
How likely is it that the U.S. would allow Iran to tax, or impose a toll on, ships transiting through the Strait of Hormuz in exchange for a peace deal?…
