Asia

According to tracking firms, three liquefied gas cargoes that were loaded in Qatar or the United Arab Emirates in recent weeks have been moved 'between' ships outside of the Strait of Hormuz for delivery to India and Japan. Since the U.S.-Israeli war against Iran began on February 28, several commercial vessels have been attacked amid increased tensions along the Strait of Hormuz, a major shipping route. The majority of LNG tankers who have successfully navigated the Strait have delivered their cargoes to the end-buyers. Ship-to-ship LNG transfers, unlike crude oil, are rare. According to Vortexa & Kpler, the LNG carrier...

Oil producers in the Americas, from Canada to Argentina have benefited during the Iran War by regaining market share that Middle Eastern exporters lost. This renewed focus on global energy security could turn this emergency response into an enduring?structural shift. Since the Iran War and the closing of the 'Strait of Hormuzsix month ago, a fifth of world?oil supply was disrupted. This is the biggest shift in global energy landscape in decades. The Hormuz shutdown immediately caused a scramble for Middle Eastern barrels to be replaced. The Americas emerged as the main beneficiary. According to Kpler, crude exports in the...

Six months after the U.S. vs. Iran war began, it has hardened into a stalemate which could last until 2027. The conflict is raging, energy markets are held hostage and inflation is high. Neither side wants to or can back down. The war that has caused thousands of deaths and extensive damage in the Middle East has taken on a new face. The war began on February 28, as a joint U.S. and Israeli effort to cripple Iran, aiming at eliminating Tehran's nuclear programs, weakening its proxy network and possibly topple the Government. It has become a more narrow?struggle centered...

Six months after the U.S. vs. Iran war began, it has hardened into a stalemate which could last until 2027. Energy markets are held hostage and inflation is high, but neither side wants to or can back down. The war that has caused thousands of deaths and extensive damage in the Middle East has taken on a new face. It started on February 28, as a joint U.S. and Israeli effort to cripple Iran, aiming at eliminating Tehran's nuclear programs, weakening its proxy network, and possibly topple the Government. It has evolved into a more narrowly focused struggle centered on...

Esmaeil baghaei, the'spokesperson' for the Iranian foreign ministry, said that Asim Munir, the Pakistani army chief, will visit Tehran on Monday in order to continue his 'efforts' to bring peace and stability to the region. Pakistan has assumed a role as a mediator in the negotiations between Iran, the U.S., and Israel to end the war that began in February with the U.S.-Israeli strikes against Iran. Two sources in the Pakistani government confirmed Munir’s visit. First source: Iran and Pakistan are in direct contact. Second source: The 'talks' would also cover recent developments, such as the threat by Donald Trump...

The Iran War has brought the oil refining sector to its knees, indicating that gasoline and diesel prices could remain high for many years. The global energy inflation shock will continue to be felt, whether or not a deal is reached. Oil markets have adapted well to the sudden loss of a quarter of the world's crude oil supplies during the conflict in the Middle East, but the refinery industry has had fewer options. The difference between the crude oil and fuel prices is telling. Benchmark Brent crude is currently around $90 per barrel. Although this is a 25% increase...

The Iran War has brought the oil refining sector to its knees, signaling that gasoline and diesel prices could remain high for many years. The global energy inflation shock will not be over until a deal is reached. Oil markets have adapted well to the sudden loss of a 5th?of the global crude supply from the Middle East due to the conflict. However, the refinery industry has had fewer options. The difference between the crude oil and fuel prices is telling. Brent crude oil, the benchmark price for all other crude oils, is around $90 per barrel. Although this is...

Oil market behavior is becoming more and more like a permanent reality. It's not just a temporary shock. Hopes for a diplomatic breakthrough are fading nearly six months after the war between Iran and the U.S. erupted. The interim ceasefire that was agreed to on June 17 is now 'effectively over,' the 60-day negotiation period has ended, and neither Washington or Tehran appear willing to compromise about the future of Strait of Hormuz. Both sides have instead dug in. Iran warned that tensions would escalate if Washington did not fully implement the interim peace agreement within a few weeks. A...

Petronet LNG, India's largest gas importer, does not have a definitive liquefied gas supply plan with its main supplier Qatar. This was revealed by its CEO on Thursday as the Middle Eastern producer reviewed force majeure from month to month. In March, Qatar declared force majeure for LNG exports after Iran hit two of Qatar's fourteen production trains. The U.S. - Iran conflict has also 'disrupted fuel shipments via the Strait of Hormuz. This route carries around a fifth of global oil consumption, as well as large quantities of LNG. After Petronet's earnings for the June quarter, A K Singh...

The Iran war is likely to be the catalyst for nations that import energy to reduce their dependency on fossil fuels. These countries must find a way to do this that is both cost-effective and politically acceptable, while not creating new vulnerabilities. It is not an easy task. This debate is usually framed along 'left- and rightwing political faultlines. Progressives say that the conflict highlights the need for a faster transition to electric vehicles and renewable energy sources, while conservatives claim it highlights the need for more fossil fuel production outside of the Middle East. The U.S. and Israel launched...

The gas supply to Bangladesh's grid has increased after a floating terminal for liquefied natural?gas operated by U.S. based Excelerate Energy partially reopened operations on Wednesday. A fire had closed the facility?for more than?two weeks. Petrobangla officials said that the restart of a regasification plant adds around 115 millions cubic feet of natural gas per day to the grid. This will ease shortages which disrupted industrial production, household supplies and power generation. A fire on July 21 damaged the electrical cable systems that were linked to FSRU's boiler operations. This caused a 450 million cubic foot gas cut per day....

BP has received a windfall from the Middle East conflict, thanks to higher gas and oil prices. This will help Meg O'Neill in her efforts to stabilize the ship. The Iran War has made the future of energy less predictable and has complicated BP's attempts to chart a course for the long term. BP is today 'on a much firmer footing than it was in February when it reduced planned capital expenditure for 2026 due to growing concerns about looming oil and?gas surpluses that would impact on prices and earnings. This narrative was flipped on its head when the Iran...

The Ukrainian agriculture ministry announced on Wednesday that it would conduct a survey among?farmers to determine their plans for winter?crops sowing for the harvest of 2027 and their capacity for storing?crops?for 2026. The Russian attack on Ukrainian Black Sea port has effectively stopped maritime exports. This leaves farmers unable sell their grain or prepare for and carry out a sowing campaign, primarily for winter Wheat. The?ministry announced that the survey was designed to collect up-to date information about the areas that farmers plan to sow in the fall, the progress made on the final stages of the harvest campaign for...

On Wednesday, the Kremlin said that European countries were paying a high price for avoiding Russian gas due to rising energy prices and could instead be purchasing cheaper supplies from Moscow. The war in Iran has caused European gas prices to soar. They reached their highest level since the end of 2022 when the Ukraine conflict forced Europe to cut imports?of Russian pipe gas. Last week, the benchmark European gas price climbed to EUR75 a megawatt-hour. This is more than double what it was a year earlier. Dmitry Peskov, Kremlin spokesperson, said that Europe hurt itself by purchasing expensive?gas at...

Aliko Dangote, a billionaire, has set his sights on replicating the project that launched Africa's largest oil refinery, in Nigeria, less than three years ago. But the construction of his company's planned new 700,000-barrel-per-day Lamu refinery in Kenya promises to bring a whole new set ?of issues -- not least where to secure crude supply in ?a country that, unlike oil-rich Nigeria, currently has no commercial output. Plans are changing rapidly. Discussions about Dangote's East African Refinery centered on Tanzania until April. Dangote said to the Financial Times that he would prefer the refinery be located in Mombasa in Kenya....

The Beetaloo Basin developers in Australia are bringing U.S. equipment and money to the project. They also hope that U.S. scale and efficiency will help reduce costs and make it economically viable. Beetaloo, which produced its first gas in this month, has been compared to the Marcellus Shale in the U.S. However, its remoteness in the Northern Territory will require billions of dollars in order to build pipelines. If the development is successful, it could provide a new supply of LNG to Asia. But first well costs need to be reduced by up 60% in a part of the world...

Africa50, an infrastructure investment fund based in Morocco, wants to "more than double" the value of projects it backs over the next 5 years to $20 billion, according to its chief operating officer. The fund was established by African leaders in 2015. It has invested in 36 projects in the power, transportation, logistics, and other sectors. These projects have a total value of $9 billion. In an interview conducted on Monday, Tshepidi Mostmong, the COO of the Casablanca fund, stated that they were "looking to at least double or triple this number in terms of value." Moremong said that Africa50...

The 'developers' of Australia's Beetaloo Basin have brought in U.S. money, equipment, expertise, and, they hope, U.S. scale and efficiency to'reduce costs' and make Australia's first shale-gas project economically viable. It is often compared to the Marcellus Shale in the U.S. because of its abundance, but the fact that it is located in the Northern Territory, means that billions of dollars are needed to build the pipelines. If the development is successful, it could provide a new supply of LNG to Asia. But first, well costs need to be reduced by up 60% in a part of the world that...

According to?customs data?released?on?Tuesday, China's crude?imports were?down?23.4% from the same period a year earlier. Data showed that oil imports for August were 37.93 metric tons or 8.93 million barrels a day. China's crude oil imports from January to August?fell by 14.6%, reaching 320.9 million metric tonnes. China's?natural gas imports in August, including LNG, were 10.33 million tonnes, down 12.9% compared to a year ago. Natural gas imports in the first eight-month period were 78.23 millions tons, a 4.4% drop on an annual basis. Exports of China's refined oil products, such as gasoline, diesel, fuel oil, and kerosene, reached 6.01 million tonnes...

According to the police, an attempt was made to short circuit a transformer in the electricity grid south of Duesseldorf, west 'Germany. The newspaper Bild reported this on Friday. This comes after two suspected sabotage efforts 'this week. The police received a letter from a person claiming responsibility for both the Dormagen incident and vandalism of a Bergheim substation that shut down 4,200 megawatts on Tuesday. This week, Europe's fears about critical infrastructure in Germany have been at the forefront. After Germany accused Moscow of a drone strike on the Leipzig/Halle Airport in August, allies came together to support Germany....

According to the police, an attempt was made to short circuit an electricity grid transformer south of Duesseldorf, in western Germany. The newspaper Bild reported this on Friday. This comes after two suspected sabotage attempts during the week. The police received a letter claiming responsibility for both the Dormagen incident and vandalism of a Bergheim substation that shut down 4,200 megawatts on Tuesday. This week, Europe has focused on Germany as the focal point of its fears regarding the vulnerability of critical infrastructure. After Germany accused Moscow of a drone strike in August on the Leipzig/Halle Airport, allies rallied around?after?....

The newspaper Bild reported that German police responded to two new alleged attempts against Germany's electricity grid. This comes after Berlin blamed Russia for an attempted drone attack on Leipzig Airport. Bild reported that local police had confirmed an attempt to short circuit a power grid in Dormagen, which is a city located in the western state North Rhine-Westphalia. According to the report, police have received a claim of responsibility. Separately in Ganderkesee, the police cordoned off an electrical transformer station on Friday, citing suspicious circumstances. Unidentified police spokeswoman told NDR, the public broadcaster, that police officers made a discovery...

Four traders reported that the premiums for Russia’s Far East ESPO blend crude for delivery in November to China have risen to record levels as Chinese refiners increase their purchases amid shrinking Middle East and Iranian supplies. ESPO cargoes due to be delivered at the end October and November trade at a premium of over $7 a barr to ICE Brent. According to traders, offers have been heard up to a record-breaking plus $10 a barron on a shipped basis to China. Trading firms said that Sinopec, the state-owned Chinese refiner, was at the forefront of this buying spree, which...

According to a government website, Iran has added new ships that it considers non-compliant and subject to fines or confiscation if they try to sail through Strait of Hormuz. Tehran announced on August 24 that it had blacklisted 45 tankers for violating its rules to navigate the Strait of Hormuz and that any vessel transferring cargo would be subjected to action. This comes six months after the U.S.-Israeli war began. Updated on the website of the Persian Gulf Strait Authority, a body created by Iran to'manage the strait', eleven more ships have been added. The total number of blacklisted vessels...