Oil prices surged more than 3% on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran raised fears of prolonged disruptions to vital Middle East oil and gas supplies.Brent LCOc1 crude advanced $2.44, or 3%, to $83.84 per barrel by 0722 GMT…
QatarEnergy has declared Force Majeure to its affected buyers, following the decision to stop the production of liquefied natural gas (LNG) and associated products as a consequence of Israel-U.S. war with Iran.“QatarEnergy values its relationships…
Asia depends on oil and gas from the Middle East, sourcing 60% of its crude from the region, making it highly vulnerable if the Iran war causes a prolonged closure of the Strait of Hormuz supply route.How Much Middle Eastern Oil Does Asia Import…
Oil prices rose 3% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could escort vessels through the Strait of Hormuz…
Arabian Drilling has reactivated two rigs that were recalled in the fourth quarter of 2025 and launched its first international offshore contract within the Gulf Cooperation Council region-based company.The Saudi Arabia-based contractor said…
China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely the case…
European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U…
Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.Brent crude futures LCOc1 were at $80…
Qatar halted its production of liquefied natural gas on Monday as Israeli and U.S. strikes against Iran and Tehran's retaliation prompted precautionary shutdowns of oil and gas facilities across the Middle East.Saudi Arabia shut its biggest domestic oil refinery after a drone strike…
Oil surged 9% on Monday after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend's bombing by Israel and the United States that killed Iranian Supreme Leader Ali Khamenei.A sustained jump in prices would threaten a global economic recovery…
The diplomatic route in Iran is now exhausted, as last night the United States and Israel attacked Iran, sharply escalating security risks for commercial shipping in the Persian Gulf and adjacent waters, prompting immediate operational and insurance repercussions across the global maritime sector…
QatarEnergy has awarded the engineering, procurement and construction (EPC) contract for the onshore liquefied natural gas (LNG) plant of its North Field West (NFW) project to a joint venture comprising Technip Energies, Consolidated Contractors Company (CCC) and Gulf Asia Contractor (GAC)…
National oil company Kuwait Petroleum Corporation (KPC) has held early stage talks with a large group of potential investors over a $7 billion stake sale in its crude oil pipelines, three sources familiar with the matter said, following similar…
Saipem has been awarded an additional offshore contract (Contract Release Purchase Order or CRPO) in Saudi Arabia under its existing Long-Term Agreement with Aramco.Saipem’s scope of work includes the Engineering, Procurement, Construction and Installation (EPCI) of a 48inch trunkline…
Mammoet has completed the weighing, transport and loadout of 24 process modules for a major gas development project in the United Arab Emirates, in what the company said was the largest outward shipment in Khalifa Port’s history.The modules…