Ukraine’s Drone War Is Reaching Deep Into Russia’s Oil Heartland
Sunday, May 10,2026,17:00
Russia’s Leningrad Oblast lies some 600 kilometers from the closest corner of Ukraine. But on April 15, its governor declared it a “frontline” region. Part of his explanation: From January through March, a total of 243 Ukrainian drones were shot down over the province, he said. Some drones were not shot down, though. From export terminals on the Gulf of Finland to refineries inland, oil facilities in the region that surrounds St. Petersburg, President Vladimir Putin’s hometown, have been among the hardest hit in an upsurge… .. read more..
The Breakaway Climate Conference Challenging the COP Process
Sunday, May 10,2026,15:00
Colombia and the Netherlands co-hosted the first Transitioning Away from Fossil Fuels Conference in the coastal city of Santa Marta in Colombia from April 24–29. Several state leaders praised the conference for its explicit focus on reducing reliance on fossil fuels and supporting a global green transition, particularly as the UN Framework Convention on Climate Change’s (UNFCCC) annual COP climate conference has been increasingly critiqued for giving a platform to oil and gas lobbyists. The UNFCCC has held a COP summit almost… .. read more..
Aramco Q1 profit jumps 25% to $32.5 billion despite disruption at Strait of H...
Sunday, May 10,2026,14:16
The company's East-West Pipeline sharply ramped up oil supplies to reach its maximum capacity of 7 million barrels per day in Q1 .. read more..
Evening peak power demand exposes gaps in India’s energy transition: Citi
Sunday, May 10,2026,12:17
India's power sector is shifting focus from electricity shortages to ensuring reliable power during non-solar hours. Rapid renewable energy growth creates challenges for evening and night-time demand. The country needs enhanced transmission and storage infrastructure. Battery storage and flexible thermal generation will be crucial. Delays in capacity additions could lead to power shortages. Coal power will remain important. .. read more..
Alphabet's 160% rally in a year reflects value of owning 'most of the stack' ...
Sunday, May 10,2026,12:00
Google was seen as an AI laggard in the early days of the AI boom, but investors are now betting that the search giant will be a clear winner. .. read more..
Rs 1,600-1,700 cr a day, Rs 1 lakh cr in 10 weeks: Cost of insulating India f...
Sunday, May 10,2026,09:06
State-owned oil firms are incurring massive daily losses, estimated at Rs 1,600-1,700 crore, to shield Indian consumers from global energy price shocks. This has led to over Rs 1 lakh crore in under-recoveries in 10 weeks, raising concerns about their financial sustainability and the need for potential price hikes. .. read more..
Saudi Aramco Q1 profit jumps 26% as key pipeline reaches capacity amid Iran war
Sunday, May 10,2026,08:24
Aramco says its East-West pipeline has helped to mitigate the energy shock caused by the Iran war. .. read more..
Crude oil prices likely to stay higher for longer: ADB Chief Economist
Sunday, May 10,2026,07:45
Crude oil prices are set to remain high due to the Middle East crisis. This will affect India's economy, lowering GDP growth in FY27. Inflation is also expected to rise significantly. Weather disruptions and fertilizer costs could further impact food prices. India's reliance on imported oil makes it particularly vulnerable to these global events. .. read more..
Who won Aramco's lucrative long-term framework deals?
Sunday, May 10,2026,07:15
New long term agreement deals likely to further streamline Aramco's key onshore projects .. read more..
SURF’s up for Indonesia gas project
Sunday, May 10,2026,07:12
Contractor lined up for key Mako subsea prize .. read more..
Australia to reserve 20% of gas exports for domestic market
Sunday, May 10,2026,07:12
Federal government expects to finalise policy design at later stage after consultations .. read more..
Australia gas project advances into early-stage FEED
Sunday, May 10,2026,07:11
Hancock Energy plans to build central processing facility to treat natural gas from nearby gas field .. read more..
Petronas seeks contractor to shoot 3D seismic offshore Indonesia
Sunday, May 10,2026,07:11
Malaysian heavyweight keen to explore hydrocarbon potential of Serpang block awarded in 2025 .. read more..
Trump Could Tap Oil under U.S. Military Bases to Top Strategic Reserve
Saturday, May 9,2026,23:00
The Trump Administration is looking for innovative ways to tap more crude from federal lands as the U.S. Strategic Petroleum Reserve (SPR) is being depleted again by emergency stock releases amid the global supply shock from the Iran war. One of these creative new ways to refill the SPR could be the potential tapping of oil from land at U.S. military bases or other sites of the Department of War, a source with knowledge of private information told Bloomberg this week. For the second time in four years, the U.S. Administration… .. read more..
Iran War Threatens Gulf Investment Boom in Central Asia
Saturday, May 9,2026,21:00
The 2026 U.S.-Israel war on Iran, the Ramadan War, which began with airstrikes on 28 February 2026 and involved Iranian retaliation via missiles, drones, and a blockade of the Strait of Hormuz, has indirectly but significantly constrained investment plans by Persian Gulf petrostates, primarily Saudi Arabia, the United Arab Emirates, and Qatar, along with other Gulf Cooperation Council (GCC) members, in Central Asia. These petrostates were not direct belligerents but suffered economic fallout from Iranian strikes on their energy infrastructure,… .. read more..
Why U.S. Drillers Can’t Solve the World’s Oil Supply Crisis
Saturday, May 9,2026,19:00
Since he came into office in January 2025, United States President Trump has been pushing oil companies to “Drill, baby, drill!” However, despite being given free rein to increase oil production, several oil and gas companies have been cautious of increasing output too much due to volatile energy prices and the huge expense of conducting new exploration and drilling operations. Therefore, countries facing shortages, due to the ongoing geopolitical crisis between the U.S. and Israel with Iran and other Middle Eastern powers, cannot simply… .. read more..
Power Shortages Threaten Kazakhstan’s $1.9 Billion Data Center Push
Saturday, May 9,2026,17:00
Kazakhstan’s Ministry of Artificial Intelligence and Digital Development has signed an agreement with an international consortium to start building out the government’s plan to turn the Central Asian state into a data center hub. The project’s timeline appears to hinge on Kazakhstan’s ability to close an existing power deficit. The ministry’s memorandum of understanding with a consortium led by an entity called JMOT04 Ltd. provides for the construction of a Tier IV data center, the most powerful and reliable classification… .. read more..
Japan’s Hybrid Car Strategy Gains Ground as EV Demand Rises
Saturday, May 9,2026,15:00
Japan has long been known for its strong automaking industry. However, in recent years, it has come to dominate the global hybrid vehicle market, demonstrating that it can evolve to be competitive as the demand for electric vehicles (EVs) continues to rise. While several other countries, such as China, are also increasing their hybrid output, many markets continue to opt for Japanese models due to their solid reputation for traditional automaking and the inclusion of innovative technologies in new hybrid models. In India, Japanese hybrid vehicles… .. read more..
The Iran war will change global energy markets in these important ways, oil e...
Saturday, May 9,2026,12:43
Iran's blockade of the Strait of Hormuz has resulted in the loss of nearly a billion barrels of oil with the shortage growing worse every day. .. read more..
India's power sector set for up to 6 per cent CAGR on multi-vector capex upcy...
Saturday, May 9,2026,09:03
India's power sector is positioned for a sustained growth trajectory with a medium-term forecast set at a 5-6 per cent CAGR, supported by the convergence of electrification, data centers, cooling loads, and manufacturing sectors. According to a Citi Research report, the country is currently witnessing its first-ever multi-vector capital expenditure upcycle that spans thermal, renewables, transmission, and grid storage. .. read more..
India’s fuel resilience amid global oil turmoil
Saturday, May 9,2026,07:55
The article describes India’s economy as “resilient” amid the West Asia crisis, highlighting the country’s ability to maintain stable fuel prices despite a sharp global rise in crude oil prices. It credits strong domestic demand, expanding refining capacity, renewable energy growth and government intervention for insulating consumers from global energy shocks. .. read more..
Petrol, Diesel Price Today (May 9): Check Delhi, Mumbai, Gurugram rates as re...
Saturday, May 9,2026,03:27
Petrol Diesel Price Today in India: Domestic petrol and diesel prices remained stable across most major Indian cities on Saturday, despite firm global crude oil markets driven by geopolitical tensions. India's oil marketing companies and the government have absorbed rising costs for over two months to prevent retail price hikes, though this arrangement is under strain. .. read more..
Petrol, Diesel Price Today May 9: Check Delhi, Mumbai, Gurugram rates as repo...
Saturday, May 9,2026,03:27
Petrol Diesel Price Today in India: Domestic petrol and diesel prices remained stable across most major Indian cities on Saturday, despite firm global crude oil markets driven by geopolitical tensions. India's oil marketing companies and the government have absorbed rising costs for over two months to prevent retail price hikes, though this arrangement is under strain. .. read more..
Tehran could withstand blockade for four months, CIA report shows, as fightin...
Saturday, May 9,2026,00:44
U.S. and Iran's efforts to end their conflict stall amid renewed clashes in the Gulf. A U.S. intelligence assessment suggests Iran can withstand a naval blockade for months, while Tehran accuses Washington of breaching a ceasefire. The U.S. also imposed new sanctions on individuals and companies aiding Iran's military. .. read more..
Oil prices fall 6% over the week on hopes of long-awaited end to Iran war
Friday, May 8,2026,21:11
Crude futures traded lower as Trump hints at a forthcoming conclusion to Strait of Hormuz crisis .. read more..
Norway’s DNO plans 4 more oil fields in North Sea as north Iraq output declines
Friday, May 8,2026,21:00
Norway’s DNO plans to add four North Sea oil fields to its upstream operations by 2029, while production and investments in northern Iraq will be lower than planned in 2026 after fields were temporarily halted when the US-Iran war started, the company said in a May 7 earnings statement. North Sea net production soared in ... .. read more..
Iraq discovers new oil field with 8.8bln barrels of reserves
Friday, May 8,2026,21:00
Iraq has discovered an oil field with more than 8.8 billion barrels of reserves near the southern border of Najaf province with Saudi Arabia, according to a news report. The Al-Qarnain block is the first exploration block, covering 8,773 square kilometres, with an oil discovery recorded, Rudaw, a digital news network based in the Kurdistan ... .. read more..
Oil, plastics and climate: Why higher prices could speed a materials transition
Friday, May 8,2026,21:00
Most conventional plastics are made from oil and gas and production costs have increased recently as a result of the closure of the Strait of Hormuz in the Middle East. That means when the price of those raw materials rise, the cost of producing plastic often rises too, creating incentives to reduce wasteful use, expand ... .. read more..
Upstream deal value falls 83% as oil price uncertainty widens the buyer-selle...
Friday, May 8,2026,21:00
Monthly upstream oil and gas deal value fell to $5.55 billion in March from $32 billion in February, even as transaction volume held steady at 35 deals. The decline reflects a widening gap between buyer and seller price expectations amid oil market uncertainty – not a retreat in deal appetite. The collective monthly value of ... .. read more..
One-fifth of U.S. renewable diesel and SAF production was exported in 2H25
Friday, May 8,2026,21:00
The United States exported nearly 50,000 barrels per day (b/d) of renewable diesel and other biofuels—a category which includes sustainable aviation fuel (SAF)—in the second half of 2025 (2H25), about 20% of the combined production for those fuels. About half of these exports went to Canada, with the rest mostly going to Europe. A year ... .. read more..
Shell continues to have conviction in long-term role of LNG: CEO
Friday, May 8,2026,21:00
Shell continues to have conviction in the long-term role of LNG given its importance in energy security and its contribution to a diverse energy supply, CEO Wael Sawan said May 7. Speaking following the company’s first-quarter results, Sawan said Shell sees a global LNG market of 600-800 million metric tons/year by 2050 and “resilient demand ... .. read more..
Global sulfur prices surge on Middle East disruptions, China export ban
Friday, May 8,2026,21:00
Global sulfuric acid and elemental sulfur prices surged in April as Middle East supply disruptions and tougher Chinese export restrictions severely tightened spot availability across key markets, according to S&P Global Energy CERA analysts. Platts, part of S&P Global Energy, assessed sulfuric acid CFR US Gulf at $400/mt on May 6, up from the pre-war ... .. read more..
Gas – an Energy Security Pillar for Southeast and Central Europe
Friday, May 8,2026,21:00
Delivering the keynote address at one of Europe’s most significant Gas conference and exhibitions – the International Scientific & Expert Meeting of Gas Professionals – now in its 41st edition, the President of the International Gas Union (IGU) – Mr Andrea Stegher – recalled the critical importance of the Central European and global Gas industry ... .. read more..
Cenovus Warns Oil Sands Growth Is Drying Up as Policy Uncertainty Mounts
Friday, May 8,2026,20:00
Cenovus Energy (TSX, NYSE: CVE) just posted one of its strongest quarters on record. Its CEO used the earnings call to deliver one of the starkest warnings the oil sands industry has heard in years. Jon McKenzie told analysts on Wednesday that Canada's national conversation around oil sands development has become "myopically focused on the climate agenda" — and that the consequences are already playing out in the investment numbers. The country, he argued, has spent over a decade making itself one of the least attractive places on earth to… .. read more..
Oil prices edge higher after U.S. fires on Iranian tankers, UAE attacked by m...
Friday, May 8,2026,19:31
The U.S. and Iran exchanged fire in the Strait of Hormuz, raising fresh fears that the fragile ceasefire between the two countries was unraveling. .. read more..
Oil PSUs suffer ₹30,000 cr under-recoveries a month
Friday, May 8,2026,18:54
Indian oil companies face significant monthly losses on petrol, diesel, and LPG. This is due to selling fuels below international rates, which have risen sharply. While some fuel prices have increased, regular petrol and diesel prices remain unchanged. This situation is impacting the earnings of Indian Oil, HPCL, and BPCL, with their shares seeing a decline. .. read more..
DOF wins $2 billion newbuild vessels contract with Petrobras
Friday, May 8,2026,18:29
RSVs will be built locally and are expected to start operations offshore Brazil in 2030 .. read more..
Fuel price hike on the cards as India struggles to absorb soaring crude costs
Friday, May 8,2026,18:14
India is grappling with significant economic challenges due to elevated global fuel prices. The government has absorbed substantial daily losses to shield consumers. However, the ongoing West Asia crisis and disruptions to energy supply routes are making this unsustainable. Tough decisions loom regarding fuel price adjustments to manage the financial burden and ensure energy security for the nation. .. read more..
AI Is Making Cyberattacks Cheaper, Faster and More Dangerous, IMF Warns
Friday, May 8,2026,18:00
Evermore sophisticated AI-powered cyberattacks could threaten the stability of the global financial system, The International Monetary Fund (IMF) has warned, as regulators race to contain a new generation of threats. In their new report, the IMF said extreme cyber incidents could spark liquidity pressures and solvency concerns across banks and financial institutions. The lender warned that AI was dramatically lowering the cost and time needed for hackers to identify and exploit vulnerabilities, increasing the risk of systemic financial shocks.… .. read more..
US Oil Drillers Continue to Add Rigs
Friday, May 8,2026,17:31
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 548, down 30 from this same time last year. The number of active oil rigs rose by 2 to 410 during the latest reporting period, according to the data. This is 57 below this same time last year. The number of gas rigs fell by 1. Gas rigs now sit at 129, which is 21 more than this time last year. The miscellaneous rig count stayed at 9. The latest EIA data… .. read more..
Iran Seizes Tanker Carrying Its Own Oil
Friday, May 8,2026,16:30
Iran has seized a tanker that appears to have been carrying its own oil, highlighting just how tangled its export system has become under sanctions and blockade. State media said Iranian forces detained the vessel, identified as the Ocean Koi, in the Gulf of Oman. The ship had already been sanctioned by the United States earlier this year as part of Iran’s shadow fleet, the network used to move crude outside official channels. Iran’s explanation didn’t add much clarity. Officials said the tanker was carrying Iranian oil but had… .. read more..
US Hits Iran-Flagged Oil Tankers While Peace Talks Continue
Friday, May 8,2026,16:30
U.S. forces struck two empty Iranian-flagged oil tankers in the Gulf of Oman on Friday, escalating pressure on Tehran’s shipping network even as Washington says a potential deal to halt the war could be close. U.S. Central Command said the vessels were attempting to violate the American naval blockade around Iranian ports. According to CENTCOM, fighter aircraft disabled both tankers by firing precision munitions into their smokestacks. A third Iranian-flagged vessel had already been disabled earlier this week. “All three vessels are… .. read more..
Upstream Oil and Gas Deal Value Plunges Amid Oil Price Uncertainty
Friday, May 8,2026,16:00
The collective monthly value of asset deals within the upstream oil and gas sector collapsed to $5.55 billion in March, down from $32 billion in February, even as the volume held steady at 35 transactions compared with 34 the previous month. Where the capital moved South America dominated March activity, accounting for 55% of total deal value, with North America contributing 16% and Asia 13%. The largest single transaction was the acquisition of SierraCol Energy by Philippines-headquartered Prime Infrastructure for an estimated $1.4 billion, according… .. read more..
U.S. says it struck two Iran-flagged oil tankers trying to skirt blockade
Friday, May 8,2026,15:50
The shaky U.S. ceasefire with Iran has been repeatedly undermined this week, even as President Donald Trump insists it remains in effect. .. read more..
Trillions of cubic feet of gas locked in US Gulf Coast rock, says government ...
Friday, May 8,2026,15:41
Industry could still unlock over 343 Tcf of gas from formation tied to Haynesville shale, says USGS .. read more..
Oil prices rise after U.S. fires on empty Iranian tankers, UAE attacked by mi...
Friday, May 8,2026,15:35
The U.S. and Iran exchanged fire in the Strait of Hormuz, raising fresh fears that the fragile ceasefire between the two countries was unraveling. .. read more..
U.S. and South Africa Discuss Potential Critical Mineral Deals
Friday, May 8,2026,15:30
Despite tense bilateral relations, the United States and South Africa held this week their highest-level meeting so far this year to discuss potential resource deals in critical minerals, the Financial Times reported on Friday, quoting attendees of the meeting in Johannesburg. The two countries have been in tense relations since U.S. President Donald Trump took office for his second term last year and accused South Africa of “white genocide.” However, the Chinese grip on the global critical minerals market seems… .. read more..
Oil Markets Whipsawed by Conflicting U.S.-Iran Signals
Friday, May 8,2026,15:16
Oil prices head for a 7% weekly loss as traders struggle to price in conflicting signals from U.S.-Iran talks and ongoing Middle East attacks. Friday, May 08, 2026 Oil prices are set for a 7% weekly loss after markets remain confused about the outlook of a potential US-Iran negotiated settlement. ICE Brent is set to close the week at $101 per barrel, even as missile strikes and drone hits continue to sap any quick diplomatic breakthrough between Washington and Tehran. Meanwhile, the CFTC announcing it would investigate Trump’s war-related… .. read more..
Iraq Oil Ministry denies US-sanctioned official aided Iran
Friday, May 8,2026,15:15
US authorities sanction Iraqi deputy oil minister for allegedly aiding scheme to disguise Iranian oil as Iraqi product to circumvent US prohibitions .. read more..
Iraq Denies U.S. Claim Deputy Minister Helped Iran’s Oil Sales
Friday, May 8,2026,14:30
Iraq’s Oil Ministry has denied that its deputy minister was involved in opaque sales of Iraqi oil mixed with Iranian crude for Iran’s benefit, as the U.S. alleged on Thursday when it sanctioned the senior official. The United States on Thursday sanctioned Iraq’s Deputy Minister of Oil, Ali Maarij al-Bahadly, and several Iran-aligned militia leaders for facilitating the diversion of Iraqi crude to benefit Iran and affiliated militias. The move also targeted senior figures tied to the Kata’ib Sayyid Al-Shuhada and Asa’ib… .. read more..