The relatively quiet East Mediterranean appears to be boiling again, following the signing of a new agreement by Turkey and Libya on the delineation of their maritime borders. Ankara is once again pushing East Mediterranean littoral states—Greece, Cyprus, Israel, and Egypt—toward confrontation by asserting longstanding claims over the Economic Exclusive Zones (EEZ) of Athens, Nicosia, and Cairo. Ankara is now actively fueling the fire. In June 2025, Turkey raised tensions by submitting a new maritime map to UNESCO, challenging Greek…

Shell is to file amended regulatory filings after Big Four firm EY told the oil giant it broke audit rules after its lead partner overstayed their time. Shareholders were informed on Wednesday that an unnamed partner at EY who led the 2023 and 2024 audits for the energy giant “had exceeded the period allowed under Securities and Exchange Commission (SEC) audit partner rotation rules”. EY informed Shell on Tuesday that its US opinions on Shell’s previously issued audited consolidated financial statements and effectiveness of internal…

Shell is to file amended regulatory filings after Big Four firm EY told the oil giant it broke audit rules after its lead partner overstayed their time. Shareholders were informed on Wednesday that an unnamed partner at EY who led the 2023 and 2024 audits for the energy giant “had exceeded the period allowed under Securities and Exchange Commission (SEC) audit partner rotation rules”. EY informed Shell on Tuesday that its US opinions on Shell’s previously issued audited consolidated financial statements and effectiveness of internal…

Shell is to file amended regulatory filings after Big Four firm EY told the oil giant it broke audit rules after its lead partner overstayed their time. Shareholders were informed on Wednesday that an unnamed partner at EY who led the 2023 and 2024 audits for the energy giant “had exceeded the period allowed under Securities and Exchange Commission (SEC) audit partner rotation rules”. EY informed Shell on Tuesday that its US opinions on Shell’s previously issued audited consolidated financial statements and effectiveness of internal…

Shell is to file amended regulatory filings after Big Four firm EY told the oil giant it broke audit rules after its lead partner overstayed their time. Shareholders were informed on Wednesday that an unnamed partner at EY who led the 2023 and 2024 audits for the energy giant “had exceeded the period allowed under Securities and Exchange Commission (SEC) audit partner rotation rules”. EY informed Shell on Tuesday that its US opinions on Shell’s previously issued audited consolidated financial statements and effectiveness of internal…

Russia saw its revenues from oil and gas for the budget crash by 33.7% in June from a year earlier—to the lowest level since January 2023, amid weaker commodity prices and a stronger Russian ruble. For June, total budget revenues from oil and gas dipped to $6.3 billion (494.8 billion Russian rubles), according to data from Russia’s finance ministry published on Thursday. Revenues for the first half of the year also fell compared to the same period of 2024. Russia received $60 billion (4.73 trillion rubles) from oil and gas in January…

Abu Dhabi’s national oil company, ADNOC, has restored most of the Murban crude supply to its partners in the onshore fields pumping the UAE’s flagship crude grade, after cuts were made last month, numerous trading sources told Reuters on Thursday. BP, TotalEnergies, China National Petroleum Corporation (CNPC), Zhenhua Oil, Inpex of Japan, and South Korea’s GS Energy are partners of the UAE’s state energy firm in ADNOC Onshore. These equity holders are entitled to receive about 40% of the Murban output, which is around 2.1…

Despite promises to bring consumer bills down, electricity prices in the United States have surged in recent years. According to the U.S. Energy Information Administration (EIA), retail electricity prices have risen more rapidly than the rate of inflation since 2022, a trend that is expected to continue through 2026. Prices have increased by 4.5 percent over the past year, at almost double the rate of inflation for all goods and services. The price increases since 2020 can be blamed largely on the disruption of supply chains during the COVID-19…

Arabian Gulf Oil Company (AGOCO), wholly owned by the National Oil Corporation of Libya, has completed repairs on a crude oil pipeline where a leak was detected at the end of May. AGOCO completed the repairs on the Hamada-Zawiya crude oil pipeline, the company said on Thursday, as carried by Reuters. Zawiya, which lies 25 miles west of Tripoli, is home to the largest operational refinery in the country with a capacity to process 120,000 barrels per day (bpd) of crude oil. The Zawiya refinery is connected to the 300,000-bpd Sharara oilfield, Libya’s…

Oil markets kicked off the new year in a downbeat mood, with Wall Street analysts almost unanimously predicting a huge oversupply in 2025 even if OPEC+ did not add a single barrel back into the market. Well, it’s six months on, and oil markets have continued to defy these bearish expectations.   The eight OPEC+ countries that made additional voluntary cuts in 2023 are set to meet on July 6, with expectations that the ministers will continue the unwinding of the November 2023 tranche of cuts, increasing targets by 411 thousand barrels…

Europe has accelerated its purchases of liquefied natural gas to refill its storage caverns for the winter, and once again, this has driven prices higher, sapping demand in Asia. This could turn into a seasonal pattern until new LNG capacity comes online—and it will definitely add to Europe’s energy cost woes. Natural gas in storage in the European Union is currently at 58.90% of capacity. This time last year, gas in storage was at 75.5% of capacity, per S&P Platts data cited by Reuters’ Clyde Russell this week. It needs to…

Following the Russian invasion of Ukraine and the on-and-off Russian nuclear threats, scholars have been analyzing Europe’s defense capabilities against Moscow’s huge nuclear warhead fleet.  Mixed messages from U.S. President Donald Trump about NATO before the alliance’s summit last month have also prompted analyses of whether and how Europe could defend itself in case the United States doesn’t adhere to Article 5 of the NATO treaty that mandates collective NATO defense against any attack on a NATO member state. …

Clean energy stocks delivered mixed performances on Wednesday as investors continued digesting the Senate’s surprise revisions to President Trump’s “big, beautiful bill.” Utility-scale solar firms remained under pressure, while residential solar, hydrogen, and U.S.-based battery storage companies extended gains amid signs the legislation favors domestic supply chains and penalizes projects linked to China. NextEra Energy (NYSE:NEE) slipped another 1.2% on Wednesday, compounding earlier losses, while AES Corp. (NYSE:AES)…

Germany is increasingly indicating openness to nuclear energy, marking a complete pivot from their historic stance on the controversial energy source. Germany’s shift in attitude toward nuclear energy comes as part of a larger global movement back toward nuclear power as a viable part of a secure and low-carbon energy landscape.  Last month, German Economy Minister Katherina Reiche opted to join a meeting with pro-nuclear European Union members instead of attending a gathering of states dedicated to renewables, marking a major fracturing…

The war with Israel last month decimated a senior echelon of Iran’s military leadership, crippled its air defenses, and exposed the vulnerability of its air force. Within days, Israel had established aerial superiority, paving the way for US air strikes on Iran’s nuclear sites. But the war also tested the limits of Iran’s alliance with Russia, which offered little more than diplomatic support to Tehran during the 12-day conflict. With faith in Moscow at a low point, Iran is now urgently seeking to rebuild its defenses -- and is…

Via Metal Miner   Ongoing geopolitical conflicts, including one active war, combined with market instability, declining steel demand in certain global regions and a rise in protective tariffs on exporting nations, have all come together to force some steel-producing countries, including China, to reassess and refocus their steel industry supply chains. Faced with weak domestic steel demand due to a slowdown in economic growth, China’s steel industry has been revising its export roadmap. Its exports of metal alloys to Russia, for example,…

Rumors that the Uzbek government is handing over farmland to Chinese investors keep bubbling up despite repeated and categorical denials from officials, putting Tashkent in an uncomfortable spot. The latest flare up came after a video made the rounds online purporting to show a local agricultural official threatening that the government would hand unproductive farmland over to Chinese investors, local outlet Kun.uz reported in mid-June. The employee quickly walked back the comments and the Ministry of Agriculture strongly denied anything of the…

Oil and gas activity in the U.S. Eleventh District slipped into contraction in the second quarter of 2025, according to the Dallas Fed Energy Survey released Wednesday, with firms citing falling production, deteriorating service margins, and deepening uncertainty. The survey’s headline business activity index dropped from 3.8 in Q1 to -8.1, marking a return to negative territory. Executives pointed to declines in both oil and gas production, with the oil production index falling to -8.9 and the natural gas production index to -4.5, which…

Oil and gas activity in the U.S. Eleventh District slipped into contraction in the second quarter of 2025, according to the Dallas Fed Energy Survey released Wednesday, with firms citing falling production, deteriorating service margins, and deepening uncertainty. The survey’s headline business activity index dropped from 3.8 in Q1 to -8.1, marking a return to negative territory. Executives pointed to declines in both oil and gas production, with the oil production index falling to -8.9 and the natural gas production index to -4.5, which…

In its last two working days, the Biden administration’s Energy Department signed off on nearly $42 billion for green energy projects – a sum that exceeded the total amount its Loan Programs Office (LPO) had put out in the past decade. The frenzied activity on Jan. 16 and 17, 2025, capped a spending binge that saw the LPO approve at least $93 billion in current and future disbursements after Vice President Kamala Harris lost the 2024 election in November, according to documents provided by the department to RealClearInvestigations.…