Local and international energy companies are vying for additional exploration blocks in Argentina’s Vaca Muerta shale basin as the Middle East crisis and the blocked Strait of Hormuz are reigniting a global race to tap resources outside conflict zones.     What was a predominantly U.S. business until a few years ago, shale exploration and production is now gaining momentum outside North America. And Argentina’s Vaca Muerta is top of the list of oil and gas companies, including U.S. shale giants, as a de-risked basin with…

Researchers have been exploring the use of different technologies to improve battery storage as part of the race to accelerate the deployment of renewable energy and shift away from fossil fuels. While lithium-ion batteries have significant potential to support utility-scale energy storage, their heavy reliance on lithium has encouraged researchers worldwide to explore other avenues to make battery storage cheaper and more sustainable. Batteries have been vital components in the rollout of renewable energy, used to support intermittent energy sources,…

Turkey and Armenia have taken a major stride in settling their historical differences, agreeing on a bureaucratic framework to promote direct trade between the two states. The Turkish Foreign Ministry announced on May 13 that Ankara had approved streamlined regulations for goods moving to/from Turkey and Armenia via third countries. A ministry statement added that the two states are now working towards reopening their shared border. “The necessary technical and bureaucratic studies for the opening of the common border between the two countries…

Following the United States-Israeli attack on Iran and the ongoing war, trade has been severely disrupted between Asia and Europe. According to the International Energy Agency (IEA), the world is currently facing the worst oil disruption in history. The energy shortages felt over the last two and a half months have had a knock-on effect on other sectors, particularly on the fertiliser industry, leaving farmers around the globe without the inputs they need for their crops to grow, which could lead to severe food shortages in the months ahead. …

China has been outspending the rest of the world on clean energy for years now, and new data shows that the investment is paying off in spades. Beijing’s lead in the global clean energy race is wider than ever, according to new figures from the research firm Atlas Public Policy. While gains in clean energy by the world’s biggest greenhouse gas emitter are good news for the entire planet, the increasing concentration of global clean energy supply chains in the hands of just one nation – and an authoritarian nation at that –…

The Canadian government and Alberta have reached a carbon pricing deal that could finally move a long-discussed West Coast oil pipeline from perpetual Canadian debate into actual construction, with a start date now penciled in as early as September 2027. For Canada, this is meaningful progress. Prime Minister Mark Carney and Alberta Premier Danielle Smith announced the agreement Friday, building on a November memorandum that laid out conditions for federal support of a crude pipeline capable of moving roughly 1 million barrels per day to the Pacific…

Goldman’s latest edition of Nuclear Nuggets: Global Reactor Tracker reinforces that the buildout of the cleanest and most reliable form of so-called “green” energy, nuclear power, continues to gain momentum. The theme we first laid out in December 2020 continues to broaden, with buildouts accelerating across both large-scale and small modular reactors, even as the growing risk of a massive uranium supply deficit emerges. Focusing on the latest North American reactor progress and announcements: 4/16/2026 – Canada –…

The Trump administration will put back into the Strategic Petroleum Reserve whatever oil it takes out—and then some—during the current emergency drawdown period, Energy Secretary Chris Wright said at an event on Friday. The plan, according to Wright, is to add 1.2 barrels to the SPR for every barrel it takes now. “We’ll leave it fuller than when we started,” he said, stopping short of detailing the plan for how that would work. The SPR currently sits around 384 million barrels, according to the latest EIA data, after…

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 551,  down 25 from this same time last year. The number of active oil rigs rose by 5 to 415 during the latest reporting period, according to the data. This is 50 below this same time last year. The number of gas rigs fell by 1. Gas rigs now sit at 128, which is 20 more than this time last year. The miscellaneous rig count fell by 1, to 8. The latest…

As the Middle East conflict exposes the fragility of global supply chains built around the Strait of Hormuz, energy companies and importing nations alike are reassessing where the next generation of reliable barrels will come from. The Vaca Muerta Shale sits at the top of that shortlist, with Argentina throwing open 15 new exploration blocks in the play to international and domestic energy companies — the largest bid round since 2016 and more than double the six blocks offered in the previous provincial auction. Vaca Muerta is the largest…

Oil prices surged $7 this week as Iran tensions, Hormuz risks, and weak signals from the Xi-Trump summit overshadow bearish OPEC and IEA demand forecasts. Friday, May 15, 2026 In a week that started off with both OPEC and the IEA slashing their demand forecasts for 2026, oil prices are set for a hefty $7 per barrel week-on-week gain. The much-anticipated Xi-Trump summit in Beijing provided little hope for any short-term market normalization, turning out to be quite thin on commodity-relevant substance. Iran has added fuel to the oil market’s…

Pakistan has negotiated the passage of vessels laden with Qatari LNG out of the Strait of Hormuz in a diplomatic feat that no other energy buyer has managed so far in the Iran war. Pakistan, which was the mediator of the U.S.-Iran talks and is passing messages from one to the other, appears to have used well its close ties with both Qatar and Iran to negotiate the successful imports of two tankers with Qatari LNG. Pakistan has relied on Qatar's term LNG supply for years, but the war in the Middle East has led to the shutdown of Qatari LNG production…

Pakistan has negotiated the passage of vessels laden with Qatari LNG out of the Strait of Hormuz in a diplomatic feat that no other energy buyer has managed so far in the Iran war. Pakistan, which was the mediator of the U.S.-Iran talks and is passing messages from one to the other, appears to have used well its close ties with both Qatar and Iran to negotiate the successful imports of two tankers with Qatari LNG. Pakistan has relied on Qatar's term LNG supply for years, but the war in the Middle East has led to the shutdown of Qatari LNG production…

Amid a new company restructuring, BP is weighing a potential sale of some of its natural gas assets in Egypt, Reuters reported on Friday, citing multiple sources familiar with the plans. The UK oil and gas supermajor has not taken any final decision on a potential sale, while a spokesperson for BP told Reuters the group doesn’t comment on market speculation. BP has been operating in Egypt for more than 60 years, investing over $35 billion in the North African country during these six decades. BP and the partnerships it has with other companies…

Amid a new company restructuring, BP is weighing a potential sale of some of its natural gas assets in Egypt, Reuters reported on Friday, citing multiple sources familiar with the plans. The UK oil and gas supermajor has not taken any final decision on a potential sale, while a spokesperson for BP told Reuters the group doesn’t comment on market speculation. BP has been operating in Egypt for more than 60 years, investing over $35 billion in the North African country during these six decades. BP and the partnerships it has with other companies…

The government will make it illegal to grant new oil and gas licences in the North Sea, the King said at the state opening of Parliament, in a sign ministers are refusing to buckle in the face of a barrage of criticism that the policy is depriving the UK of billions of pounds in tax receipts without helping the environment. As part of an Energy Independence Bill announced in the King’s Speech, the government will bake into law its pre-election pledge not to explore new oil and gas fields in a bid to “take control of our energy security”.…

India's trade deficit widened in April by more than analysts had expected as the surge in oil and gas prices hiked the Indian energy import bill. Trade deficit jumped to $28.38 billion last month, according to data from the Ministry of Commerce and Industry published on Friday. The trade gap in April widened by $8 billion compared to the $20.6 billion deficit in March, and was higher than economists had expected at about $26 billion. India's total exports grew by 13.8% in April from a year earlier to hit $43.56 billion, the data showed. However,…

India's trade deficit widened in April by more than analysts had expected as the surge in oil and gas prices hiked the Indian energy import bill. Trade deficit jumped to $28.38 billion last month, according to data from the Ministry of Commerce and Industry published on Friday. The trade gap in April widened by $8 billion compared to the $20.6 billion deficit in March, and was higher than economists had expected at about $26 billion. India's total exports grew by 13.8% in April from a year earlier to hit $43.56 billion, the data showed. However,…

India on Friday signed a strategic agreement with the United Arab Emirates to receive liquefied petroleum gas from the UAE, as well as a Memorandum of Understanding (MoU) on strategic petroleum reserves. India, which uses LPG as its the main cooking fuel and has felt shortages since the Iran war choked supplies at the Strait of Hormuz, seeks to boost its supply agreements. Indian Prime Minister Narendra Modi signed the LPG supply deal and the strategic reserves pact during a quick two-hour visit to the UAE today, as India scrambles to ease energy…

Crude oil prices rallied hard this week as traders focused on the growing supply threat tied to the U.S.-Iran conflict. July WTI crude oil futures settled Thursday at $97.91, gaining $6.79, or 7.45%, for the week. Prices traded in a wide range between $92.84 and $99.09 as the market reacted to war headlines, tighter inventories, and inflation concerns. The biggest driver remained the shutdown of the Strait of Hormuz, a key shipping route for global crude exports. Crude Oil News Today: Strait of Hormuz Shutdown Keeps Supply Fears Elevated The war…