Daily Ship Traffic in Strait of Hormuz Plummets From 138 to Just 2

Vessel traffic through the Strait of Hormuz has dropped from an average of 138 ships a day to just two in the 24 hours to Thursday, the Joint Maritime Information…

HSFO Prices Jump 40% as War Chokes Key Singapore Bunkering Hub

The price of fuel oil has surged this week as the stalled tanker traffic at the Strait of Hormuz is tightening supplies of the fuel in Asia, the key bunkering…

IMF: Oil Price Shock Tests Global Economic Resilience

The surge in oil and LNG prices as a result of the Middle East war is testing the resilience of the global economy once again, IMF Managing Director Kristalina Georgieva…

Europe-Bound LNG Cargoes Divert to Asia as War Upends Gas Market

A growing number of LNG cargoes that were initially en route to Europe have sharply diverted in the Atlantic toward Asia via the Cape of Good Hope as Asian buyers…

Nigeria Needs $23 Billion To Electrify 143,000 Communities, Says REA

The government of Nigeria has revealed that about $23 billion will be needed to provide reliable electricity to communities that still lack proper power access across the country. The estimate…

Pivot Energy And Sustain Our Future Foundation Partner To Support Communities and Expand Solar Projects

Representational image. Credit: Canva A new partnership aimed at supporting local communities and expanding renewable energy has been announced by Pivot Energy. The company has entered into a multi-year collaboration…

Analysts See ‘Significant Yet Short Lived’ Oil Price Rallies

In a BMI report sent to Rigzone by the Fitch Group on Friday morning, analysts at BMI, a Fitch Solutions company, revealed that they expect “significant yet short lived rallies…