economics
U.S.-Iran war still trails the 1979 oil shock by total losses
Unlike previous crises, the Iran war has simultaneously disrupted crude oil, natural gas, refined fuels and fertilizer supplies, exposing vulnerabilities created by decades of rising energy demand, globalized trade and the Middle East’s growing role as a supplier of finished fuels.
XRG acquires additional equity interest in Trains 4 and 5 of the Rio Grande LNG project (U.S.)
Advancing XRG’s global gas strategy through resilient infrastructure investment XRG now holds interests across all five trains currently under construction at the 30 MMtpy Rio Grande LNG project The United States is a core region for XRG’s global investment portfolio XRG has completed the acq..
Indonesia to cap price of regasified LNG for some industries
The government will cap LNG-based gas prices at $13 per million British thermal units (MMBtu) from the current level of $20.57 per MMBtu for users.
U.S. natgas prices hit 20-week high on LNG flows, heat outlook
U.S. natural gas futures edged up about 1% to a 20-week high on Friday, supported by increased flows to liquefied natural gas export plants and forecasts for hotter weather in coming weeks that should boost power demand for air conditioning.
JERA sees LNG prices staying firm as Qatar repairs drag on, Europe rebuilds stocks
JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power, is Japan's largest LNG buyer and top power generator.
EU Commission clarifies all Russian LNG trade is banned from 2027 for EU operators
While the European Union voted to stop importing Russian gas by 2027 in response to Moscow's war with Ukraine, several EU-based companies holding long-term contracts for Russian LNG have said those rules, coupled with sanctions against Russia, were unclear about whether firms would be able to divert those cargoes to buyers outside the EU.
Asia spot LNG at four-month low as Hormuz flows restart, upside risk remains
Iran said it would waive Hormuz transit fees during a 60-day negotiation period with the United States, while requiring ships to request passage 48 hours in advance.
The Hormuz shock didn’t break Europe's gas market—time might
The near-total closure of the Strait of Hormuz following the outbreak of the U.S.-Israeli war with Iran halted nearly 20% of global liquefied natural gas trade, sending Asian and European gas prices sharply higher.
Opinion: Is the Iran war just an energy shock—or a turning point?
At least 1 billion barrels of crude oil and refined products have been lost from Middle East producers such as Iraq, Kuwait, the United Arab Emirates and Iran itself. As much as 20% of global liquefied natural gas supply is also trapped in the narrow waterway between Iran and Oman.
Update: Inpex shuts one LNG train at Australian Ichthys plant due to strike
The closure of Australia's third-largest LNG plant is likely to hit exports and comes as global LNG supplies have tightened after the U.S. and Israeli war with Iran reduced supplies from the Middle East.
European gas prices steady on U.S.-Iran peace deal
Shippers in Asia and Europe said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild and navigation will only restart once safety is assured.
EU proposes 21st package of sanctions against Russia, targeting banks, refiners, traders, LNG
The EU has proposed a 21st package of sanctions against Russia for its war in Ukraine, heavily targeting the country's banks and crypto networks as well as drone production, oil traders and refiners.
U.S. natgas futures rise as hotter weather boosts demand, some spot prices negative
U.S. natural gas futures edged up about 1% on Tuesday with forecasts for hotter weather than previously expected over the next two weeks boosting demand in mid-June, and a slow decline in output in recent days.
Asia spot LNG rises on stronger demand, risk of supply disruptions
Asia spot liquefied natural gas prices rose this week on stronger demand from China and India, and amid supply disruption risks linked to industrial action in Australia and reduced output from maintenance activity elsewhere.
Price rise as Iran war hostilities flare, LNG supply tightens
Dutch and British wholesale natural gas contracts rose on Wednesday morning as fresh strikes in the Gulf cloud the outlook for any peace deal and the reopening of the Strait of Hormuz and as a strike in Australia could curb global liquefied natural gas (LNG) supply further.
Putin approves sale of TotalEnergies' 10% stake in sanctioned Arctic LNG 2 project
If finalized, the French oil major would still hold an indirect stake in the project, as it owns 19.4% of private Russian liquefied natural gas company Novatek.
Unions threaten to stop Inpex Ichthys LNG loadings from next week
Workers began a limited strike on Tuesday at Inpex's Ichthys liquefied natural gas facilities in Australia over a wage dispute, and their unions threatened much broader action next week that could disrupt LNG production and loadings.
IEA: Natural gas spending to hit 10-yr high in 2026 as oil investment falls
As global energy markets remain disrupted by the Iran war, which has halted tanker traffic through the Strait of Hormuz and caused production stoppages across the Middle East, companies are accelerating investment in other geographies and boosting spending on renewables, LNG and coal to shore up supply security.
Russia's pipeline gas exports to Europe up 3% in May year-on-year
Turkey is the only transit route left for Russian gas to Europe after Ukraine chose not to extend a five-year deal with Moscow that expired in January 2025.
Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia
Eni signed three long term agreements with the LNG sellers of South Hub and North Hub gas projects, both operated by Eni with a material participating interest averaging in excess of 80% across the 2 hubs, for the purchase of liquefied natural gas in Indonesia. These contracts further strengthen Eni..
Asia LNG prices hit 7-week high as demand rises and Iran conflict stirs risk
Asia spot liquefied natural gas rose this week to its highest level in seven weeks as stronger early summer demand and supply risks tightened availability and geopolitical uncertainty around the Iran conflict keeps markets on edge.
Opinion: Australia's LNG industry worries it will miss the huge opportunities from Iran war
Senior industry executives speaking at the annual Australian Energy Producers (AEP) conference this week were all singing from the same song sheet, repeatedly hammering their view that Australia needs to get its policy settings correct in order to restore confidence and spur renewed investment.
Russia faces lower LNG revenue as shift to Asia doubles costs
The European Union plans to fully phase out Russian LNG imports from the beginning of 2027 as part of its sanctions pressure on Moscow over the war with Ukraine.
Serbia to submit final proposal on NIS to Hungary's MOL
Russia's Gazprom Neft and Gazprom agreed to sell their 56% majority stake in NIS to MOL in January after the U.S. demanded the divestment of Russian-owned shares due to sanctions over Moscow's war in Ukraine.
ADNOC signs two strategic collaboration agreements with Indian partners
The agreements build on ADNOC’s expanding partnerships with Indian companies across crude, LNG and LPG supply, as well as energy storage opportunities, supporting India’s growing energy demand and long-term economic growth.
U.S. natural gas prices dip on weak demand and high storage levels
Output has declined in recent weeks as low spot prices caused some energy firms, like EQT, the second-largest U.S. gas producer, to reduce production as they wait for prices to rise in the future.
Russia revises down oil and gas production and exports forecasts for 2026–2029
Russia has faced challenges to its oil and gas industry, including western sanctions and Ukrainian drone attacks on its energy infrastructure which led to oil output decline in early April.
Woodside Energy's delayed Browse LNG project expected to cost $35 B
The proposal to develop Australia's largest untapped gas resource was submitted to regulators in 2018 and was last estimated to cost A$27.3 B in 2019, but a major carbon capture and storage (CCS) component was added to the project in 2023.
Booming U.S. energy exports draw scrutiny as domestic fuel prices bite
U.S. exports of gasoline, diesel, crude oil, LNG, jet fuel and ethane all surged to record highs so far in 2026 as energy firms capitalized on the disruptions to Middle East shipments and catered to urgent orders from customers around the world.
Brazil's Petrobras raises natural gas prices by 19% after oil shock
Petrobras updates natural gas prices on a quarterly basis, with adjustments tied to Brent crude prices, foreign exchange rates and U.S. Henry Hub benchmarks.
- Cheniere signs deal with Bechtel to expand U.S. LNG export capacity
- U.S. natgas prices hit 20-week high on LNG flows, heat outlook
- Baker Hughes’ fuel flexible NovaLT™ 16 gas turbine certified by RINA for marine propulsion
- Commonwealth LNG FID attracts global syndicate of leading banks
- U.S. natgas futures rise as hotter weather boosts demand, some spot prices negative
