Turkish Energy Minister Alparslan Bayraktar has warned that global energy supply disruptions caused by the ongoing Middle East conflict are likely to persist.
Kazakhstan, Russia, Saudi Arabia and other key OPEC+ countries have agreed a paper-based modest oil output hike for next month, raising the output targets to 188,000 barrels a day in June.
China has moved to block U.S. sanctions on five of its oil refineries, in a fresh escalation of tensions over trade and energy policy.
The United States is withdrawing 5,000 troops from NATO ally Germany, the Pentagon announced on Friday, as a rift over the Iran war widens between President Donald Trump and Europe.
A Pentagon official provided the first official estimate of the cost of the U.S. war in Iran on Wednesday (29 April), telling lawmakers that $25 billion had so far been spent on the conflict, most of it on munitions. Earlier, Donald Trump said that the U.S. had "militarily defeated" Tehran.
Iran said on Thursday it would respond with “long and painful strikes” against U.S. positions if Washington resumed attacks, while also reasserting its claim over the Strait of Hormuz, complicating U.S. plans to form a coalition to reopen the waterway.
The U.S. war in Iran has cost $25 billion so far, a senior Pentagon official said on Wednesday (29 April), offering the first official estimate of the military’s price tag for the conflict. The sum is equivalent to NASA’s entire budget for this year.
The decision by the United Arab Emirates to leave OPEC+ on 1 May has put renewed focus on one of the most influential groups in global energy - and how its decisions can shape oil prices worldwide.
As the Iran war disrupts global flows of oil and gas and energy prices skyrocket, the Drin River, which descends through the mountains of northern Albania, is acting as a kind of shield.
China Petroleum Engineering has secured a $4.6 billion contract to expand gas infrastructure at Turkmenistan’s Galkynysh field, reinforcing Beijing’s long-term energy partnership with one of its key suppliers.
We live in an interconnected world where each international and regional crisis has far-reaching consequences. Every region, no matter how peripheral or small, can experience the repercussions of such geopolitical and geoeconomic pressures.
Lufthansa will cut around 20,000 short-haul flights from its summer schedule as it moves to address sharply rising fuel costs linked to the Iran conflict.
The U.S.-Israeli war with Iran and the closure of the Strait of Hormuz have triggered the largest oil supply disruption ever recorded in terms of daily output losses. However, Reuters calculations show that at least one past crisis had a greater cumulative impact over time.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of April, covering the latest developments you need to know.
The European Commission is set to outline new measures to ease pressure on households and businesses as Europe faces a new energy crisis linked to the conflict in Iran.
The escalating conflict involving Iran, the U.S. and Israel is fuelling what could become the most severe energy crisis the world has ever faced, according to the head of the International Energy Agency (IEA).
A major fire at the Geelong oil refinery near Melbourne in Australia on Wednesday 15 April was extinguished on Thursday lunchtime officials said. It's one of Australia's largest and critical plant's. Authorities said it is still producing jet fuel and diesel but at reduced levels.
Australia and Singapore have agreed to deepen cooperation on energy security as global fuel markets come under strain from disruption linked to the conflict in the Middle East.
While a fragile ceasefire in the Iran war may deliver badly needed relief to economies battered by the world’s worst-ever energy crisis, hopes it will quickly restore normal oil and gas flows from the Middle East are almost certainly misplaced.
Senegal has taken steps to curb government spending by banning non-essential foreign travel for ministers, as rising global oil prices place increasing pressure on the country’s finances.
Reeling from macroeconomic shockwaves triggered by the escalating conflict in the Middle East, authorities in Dhaka have activated emergency national protocols aimed at sharply reducing domestic power consumption.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
Moldova's parliament approved the introduction of a 60-day energy state of emergency after Russian attacks in neighbouring Ukraine knocked out of service a power line providing most of the country's energy. Deputies approved the measure with 72 votes in favour in the 101-member chamber.
China’s military is preparing to hold talks with European Union and NATO officials in Brussels, as the ongoing conflict involving Iran begins to reshape the global security landscape and draw wider international attention.
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