Gulf states have requested an urgent debate at the United Nations Human Rights Council in Geneva over Iran's strikes on civilians and energy infrastructure across the Middle East, documents show. A diplomatic note sent by Gulf states, seen by Reuters, describes the ballistic missile and drone strikes on Bahrain, Jordan, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates as a "situation of serious concern for international peace and security," with severe human rights [Read more]
Prolonged Iran crisis to push buyers to non-Mideast supply, JERA executive says
A prolonged U.S.-Israeli war with Iran could push buyers to non-Middle East suppliers such as the U.S. and Canada, said a senior executive at Japan's biggest power generator JERA, as the conflict spreads to energy infrastructure across the region. "With 90 million metric tons from the Middle East absent from the global LNG market, the longer this persists, the greater the impact," Senior Managing Executive Officer Ryosuke Tsugaru said in an interview on Wednesday. Later on Wednesday, [Read more]
Trump says Israel won’t attack Iran gas field again after it ‘violently lashed out’
U.S. President Donald Trump said an angry Israel had "violently lashed out" and attacked Iran's major gas field, a significant escalation in the U.S.-Israeli war, but said Israel would not make further such attacks unless Iran retaliated. Wednesday's attack on the huge South Pars gas field drove oil prices higher and prompted a threat by Iran to attack oil and gas targets across the Gulf, while it fired missiles at Qatar and Saudi Arabia. The escalation heightens the unprecedented [Read more]
Saudi Aramco-Exxon refinery SAMREF in Saudi Arabia’s Yanbu targeted, source says
Oil giant Saudi Aramco's SAMREF refinery in the Red Sea port of Yanbu was targeted in an aerial attack on Thursday, an industry source said, adding there was minimal impact. Iran's Islamic Revolutionary Guard Corps on Thursday issued an evacuation warning to several oil facilities across Saudi Arabia, the UAE and Qatar, including SAMREF, which is a joint venture between Saudi Aramco and Exxon Mobil. Yanbu is currently the only export outlet for any crude oil out of Gulf Arab countries as [Read more]
Trump administration Alaska lease sale attracts $163 million from major oil and gas players
The U.S. government on Wednesday held its most successful sale ever of oil and gas drilling rights in Alaska's National Petroleum Reserve, attracting $163 million in winning bids from industry players including ExxonMobil, ConocoPhillips, Repsol and Shell. The sale appeared to show pent-up demand from drillers for acreage in the reserve after more than six years without a federal oil and gas auction. Though it has high development potential, interest in the region has waned in recent years [Read more]
US oil exports seen rising as WTI discount to Brent hits widest in 11 years
The discount for U.S. crude futures versus Brent on Wednesday hit the widest in 11 years, as attacks on Middle Eastern oil infrastructure drove the global benchmark higher while rising supply in the U.S. set the stage for a jump in oil exports. The U.S-Israeli war on Iran has thrown global oil markets into turmoil, driving crude and fuel prices to multi-year highs as a key trade route has mostly closed and some energy output in the Middle East is shut. The surge in Brent relative to U.S. [Read more]
QatarEnergy reports ‘extensive damage’ after missile attacks on Ras Laffan industrial city
Qatar's state oil giant QatarEnergy said on Wednesday that "extensive damage" has been caused after the Ras Laffan Industrial City was subjected to missile attacks, shortly after the country's interior ministry reported a fire resulting from an Iranian attack on the area. "Emergency response teams were deployed immediately to contain the resulting fires," the world's second-largest LNG exporter said in a statement. No casualties were reported and all personnel were accounted for, it [Read more]
US poised to waive summer gasoline regulations to ease prices, sources say
The Trump administration is expected to announce soon that it will temporarily lift federal smog-cutting restrictions on summer-blend gasoline to curb rising energy prices stemming from the Iran conflict, according to three sources familiar with the matter. The move would make standard gasoline cheaper by not forcing refiners and retailers to switch to more costly summer blends of gasoline, while also allowing fuel retailers to continue selling gasoline blended with 15% ethanol, known as E15, [Read more]
Vance to meet with oil trade group, acknowledges ‘rough road ahead’ on gas prices
U.S. Vice President JD Vance and Energy Secretary Chris Wright will meet on Thursday with the American Petroleum Institute, the nation’s largest oil trade group, as the Trump administration looks to ease rising gas prices. In the third week of the Iran war, Vance told reporters in Michigan on Wednesday the administration will announce a "couple of things" in the next 24 to 48 hours to address gas prices, now up 92 cents on average nationwide compared to last month, according to travel analyst [Read more]
Russia says Middle East conflict fuelling worst energy crisis in 40 years
Conflict in the Middle East is disrupting a significant share of global energy supplies and has triggered the most severe energy crisis in the past 40 years, Deputy Prime Minister Alexander Novak said on Wednesday. "In the context of the current Middle East conflict, this affects at least 20 million barrels per day. This is the volume of oil and petroleum products that used to pass through the Strait of Hormuz every day, as recently as 19 days ago," he said. (Reporting by Olesya Astakhova; [Read more]
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