China's state-run refiner Sinopec does not intend to buy Iranian oil but is pushing for permission to tap state reserves, a senior executive said on Monday, days after the U.S. waived sanctions for buyers of some Iranian crude.The world's largest…
Saudi Aramco Chief Executive Amin Nasser has cancelled his planned appearance at the CERAWeek energy conference in Houston to remain in Saudi Arabia because of the Iran conflict, an industry source told Reuters.Nasser, who has been CEO of the world's top oil exporter for more than a decade…
The International Energy Agency is consulting with governments in Asia and Europe on the release of more stockpiled oil 'if necessary' due to the Iran war, Executive Director Fatih Birol said on Monday.'If it is necessary, of course, we will do it…
The gas subsidiary of ADNOC, Abu Dhabi's state oil firm, on Monday said it made temporary adjustments to its production of liquefied natural gas and export-traded liquids in response to ongoing shipping disruption in the Strait of Hormuz.The U…
U.S. President Donald Trump went into the Iran war convinced that America’s vast oil wealth would insulate the country from the kind of energy shock now battering much of the world. Four weeks into the conflict, that shield is looking fragile…
Iran accused Israel of striking its facilities in the huge South Pars gas field on Wednesday in a major escalation in the U.S.-Israeli war that sent oil prices shooting higher, and retaliated by vowing attacks on oil and gas targets throughout the Gulf…
In separate ad hoc meetings of the Gas Coordination Group and the Oil Coordination Group held on March 12, the Commission and EU countries assessed the situation concerning the EU’s gas and oil security of supply in view of the continued disruptions in the Middle East…
U.S. officials responding to economic uncertainty over high oil prices predicted on Sunday that the U.S.-Israeli war on Iran would end within weeks and that a drop in energy costs would follow, despite Iran's assertion that it remains 'stable and strong' and ready to defend itself…
Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed…
The CEO of Norway's state-controlled company Equinor said that the company does not have any spare capacity to increase its oil and gas output due to Middle East supply shortages.'Our focus today is on making sure we are seen as a reliable supplier…
TotalEnergies has lost 15% of its oil and gas output as the U.S.-Israeli war with Iran shuts fields across the Middle East, including in the UAE, Qatar and Iraq, the French oil major said on its investor website.That output accounts for about 10% of Total's upstream cash flow…
Oil prices rose sharply on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, fuelling concerns of a prolonged conflict and potential disruptions to oil flows through the Strait of Hormuz.Brent futures LCOc1 climbed $5…
The International Energy Agency on Wednesday agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the U.S.-Israeli war with Iran, with the U.S. contributing the bulk of the supply…
The economic risks of the world’s heavy dependence on oil and gas have been laid bare twice in four years - first with Russia’s invasion of Ukraine and now with the U.S.-Israeli war on Iran - undermining U.S. President Donald Trump’s flagship push to double down on fossil fuels…
Saudi Arabia's Aramco, the world's top oil exporter, said on Tuesday there would be 'catastrophic consequences' for the world's oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz.Oil shipments have been largely blocked from traversing through the shipping artery…