The latest oil and gas news from around the world.
Updated: 9 min 42 sec ago
Russia Preparing to Send 2nd Oil Tanker to Cuba
Russia plans to send a second oil tanker to crisis-ridden Cuba, further testing an effective US energy blockade of the communist-run island.
Oil Surges Above $110 on Iran Escalation
Oil prices surged above $110 as escalating US-Iran tensions raised fears of prolonged disruptions through the Strait of Hormuz.
USA Crude Oil Stocks Rise More Than 5MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 461.6 million barrels on March 27, according to the EIA's latest weekly petroleum status report.
Oil Surges on Fears of Prolonged War
U.S. President Donald Trump is coming under increasing international pressure after he pledged in a primetime speech to continue the war on Iran, sparking further turmoil in energy markets.
Baker Hughes, Naftogaz to Explore Energy Cooperation
'The memorandum facilitates joint work on the assessment and preparation of potential projects in exploration and production, oil and gas transportation and storage, refining, petrochemicals and power generation'.
Eni Secures EIB Funding for New Italian Biorefinery
This is Eni's second biorefining project to be bankrolled by the EIB.
StanChart Warns OPEC+ Could Abandon Cuts at Next Meeting
Standard Chartered Bank Energy Research Head Emily Ashford warned that the next OPEC+ meeting on April 5 'could result in abandonment of voluntary output cuts and compensation cuts'.
Iberdrola Kicks Off $16B Scottish Grid Upgrade
ScottishPower, Iberdrola's UK arm, said it had 'kick-started' a five-year, GBP 12 billion ($15.84 billion) overhaul of the electricity grid in central and southern Scotland.
Oil Is in the Middle of a Geopolitical Knife Fight
Oil is right in the middle of a geopolitical knife fight, and the market is feeling every jab, Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, said.
Trump Threatens to Escalate War, Says End Is Very Close
President Donald Trump said the war in Iran is 'very close' to completion, even as he said the U.S. plans to launch fresh attacks on the country.
Missile Hits Oil Tanker Leased to QatarEnergy
'None of the crew members on board were injured, and there is no impact on the environment as a result of this incident'.
UAE Seeks UN Stamp on Measures Including Force to Open Hormuz
The UAE urged the UN to authorize a range of measures, including force, to reopen the Strait of Hormuz as Persian Gulf countries pressure Iran to restore free passage along the vital global energy corridor.
Some French Gas Stations Run Dry
Hundreds of French filling stations have run dry as drivers rushed to fill up vehicles.
Trump Says Ceasefire Only Possible When Hormuz Reopens
U.S. President Donald Trump said he'll only consider a halt to attacks on Iran when the Strait of Hormuz is reopened.
Saxo Bank Flags 'Record Surge' in Energy Prices
'This was not simply an oil rally', Ole Hansen, Saxo Bank's Head of Commodity Strategy, said.
Iberdrola to Power Gestamp Plants under 10-Year Deal
Iberdrola won a 10-year contract from fellow Spanish multinational Gestamp, a maker of metal automotive components, to supply 660,000 MWh of renewable electricity to the latter's European plants.
European Commission Approves $7B Italian State Aid for Green Hydrogen
Italy received clearance from EU market guardrails for a EUR 6 billion government support package to enable a renewable hydrogen production capacity of 200,000 metric tons a year.
Oil Prices Plunge on De-Escalation Hopes
Oil prices plunged today on fresh de-escalation hopes, Naeem Aslam, CIO Zaye Capital Markets, said.
ADNOC, OMV Launch New Polyolefins JV
Borouge International becomes 'the world's leading pure-play polyolefins company and fourth-largest polyolefins producer'.
WoodMac Says Iran Conflict Should Prompt North Sea Rethink
'The UK government faces renewed pressure to change its policy on the North Sea', Wood Mackenzie said.
