By John Ainger Turkey will use its role as host of this year’s COP31 climate summit to boost clean energy adoption, according to the event’s incoming president, with the Iran war showing how important it is to diversify away from fossil fuels. Murat Kurum, Turkey’s environment minister who will oversee the talks, said in an …
Turkey Says COP31 Climate Summit to Focus on Clean Energy Shift Read More »
By Courtney Subramanian, Jennifer A Dlouhy, and Arsalan Shahla US President Donald Trump indefinitely extended a ceasefire with Iran after the two sides failed to meet for more peace talks, with the war developing into a game of brinkmanship over the critical Strait of Hormuz. Trump said Pakistan, the main mediator between the warring sides, …
US and Iran Deadlocked Over Hormuz After Trump Extends Truce Read More »
(Reuters) – U.S. oilfield services firm Weatherford International said on Wednesday that oilfield activity in Mexico has normalized and it was starting to get paid after a new financial mechanism helped raise funds for state-run energy company Pemex to pay its suppliers after long delays. Oilfield service companies had significantly reduced activities amid Pemex’s accumulation …
Weatherford Says Oilfield Activity in Mexico Has Normalized, Company Getting Paid Read More »
(Reuters) – A lockout at BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, enters its second month as the British oil major and hundreds of union workers remain at odds. BP locked out about 800 workers represented by the United Steelworkers union on March 19, after months of negotiations failed to produce a new labor contract. The …
BP Lockout at Indiana Refinery Stretches Into Second Month as Union Talks Stall Read More »
The U.S. Supreme Court on Wednesday rejected Enbridge’s bid to change the venue of an environmental lawsuit by Michigan seeking to force the Canadian energy company to stop operating an oil pipeline between two of the Great Lakes. The justices unanimously ruled that Enbridge had waited too long to seek to move the lawsuit by …
US Supreme Court Rrejects Enbridge challenge to Michigan Pipeline Case Read More »
(Reuters) – Safe and sustainable passage through the Strait of Hormuz is what top shipping companies require before the world’s sees much oil or cargo leave or enter the Gulf, two top sector executives said on Wednesday. “Two weeks ago when the ceasefire, said to be temporary, came into picture, we thought there was hope. …
Waiting for ‘Safe and Sustainable’ Strait Crossings, Top Shipping Execs Say Read More »
(Reuters) – Traders placed a series of bets worth $430 million on a drop in crude prices just 15 minutes before U.S. President Donald Trump said he would extend a ceasefire with Iran on Tuesday. It is the third time this month, and the fourth in total, that large, well-timed directional bets on the oil …
Traders Place $430 Million Bet on Lower Oil Price Before Trump Ceasefire Extension Read More »
Japan Petroleum Exploration said on Wednesday it plans to quadruple its oil and gas output over the next decade, investing 1.16 trillion yen ($7.3 billion) in exploration and production, mainly in the United States. The company, which recently acquired Verdad Resources Intermediate Holdings for $1.3 billion in its largest-ever deal, will allocate more than half …
Japex Aims to Quadruple Oil and Gas Output in 10 years, Eyes US Expansion Read More »
By Alex Lawler (Reuters) – The U.S.-Israeli war with Iran and the closure of the Strait of Hormuz have caused the biggest oil supply disruption on record by daily output lost, though at least one earlier shock had a greater cumulative impact, according to Reuters calculations based on International Energy Agency and U.S. Department of Energy …
How the Iran War Oil and Gas Supply Shock Compares with Past Disruptions Read More »
Reuters The natural gas demand destruction currently resulting from the Iran war as governments implement measures to mitigate the crisis risks becoming structural if the conflict persists, the head of the Gas Exporting Countries Forum said on Wednesday. Since the Middle East crisis began at the end of February, more than 500 million barrels of …
Iran War Conflict Could Create Systemic Gas Demand Destruction, Says Top Sector Official Read More »
