In a move to help the chances of a trade deal with the United States, India intends to raise imports of U.S. liquefied petroleum gas (LPG) and reduce such purchases from the Middle East, anonymous sources familiar with the plans told Reuters on Thursday.  State-owned refiners in India have informed their traditional large LPG suppliers from the Gulf – Saudi Arabia, Kuwait, the United Arab Emirates (UAE), and Qatar – that they should expect potentially lower nominations for their product from India, according to Reuters’ sources. …

Australia’s oil and gas giant Santos on Thursday lowered its production guidance for 2025 as a result of a software issue impacting the ramp-up of the new Barossa LNG project and floods in the Cooper basin that affected output.    In its third-quarter report out today, Santos narrowed its production guidance for this year to between 89 million and 91 million barrels of oil equivalent (boe), down from the previous guidance of 90-95 million boe. The downgrade primarily reflects a slower-than-anticipated start-up of the floating production,…

In late 2015, the Kremlin achieved a key victory when it launched a military intervention in Syria to rescue the fast-sinking regime of then-Syrian President Bashar al-Assad and enshrine its role as a leading player in the Middle East. But 10 years later, Assad has been overthrown and a series of decisive events – the latest of which is an October 13 US-brokered cease-fire agreement between Israel and Gaza – are reversing that impression. “Russia has not been sidelined diplomatically in the Middle East like this since it intervened…

Oil prices recovered slightly in early Asian trade on Thursday after a steep drop that pushed WTI and Brent to five-month lows the day before. The rebound was fueled by renewed optimism over U.S. pressure on India to curb its imports of Russian crude, which could tighten arbitrage flows and compress margins for buyers. At the time of writing, West Texas Intermediate for November delivery was trading 0.91% higher at $58.80 per barrel. Meanwhile, Brent December futures were up 0.89% at $62.46 per barrel. The price rise came after President Trump…

Top executives from supermajors, the U.S. shale patch, and national oil companies remain bullish about the oil market in the medium and long term, expecting growing demand and the downturn in oil prices to eventually rebalance supply and demand from the looming glut. At the Energy Intelligence Forum in London this week, the oil bosses acknowledged the bearish short-term fundamentals as supply growth outpaces the increase in demand. But they also see the market rebalancing in the medium term and supply struggling to catch up with demand in the long…

The U.S. clean energy drive has slowed down markedly in the current year,  with solar, wind and battery capacity additions on track to climb a modest 7% in 2025 from 2024 levels, the slowest clip in over a decade. The wind sector is particularly badly hit, with projections of a mere 1.8% in capacity growth in the current year, the lowest since 2010, largely due to policy headwinds by the Trump administration including the cancellation of hundreds of millions in offshore wind funding as well as freezing permitting for offshore wind projects.…

U.S. natural gas prices this week hit a two-week low on forecasts of a milder weather ahead. At $3.03 per mmBtu, natural gas was the lowest since late September—but it was significantly higher than in October 2024. Surging LNG exports may have something to do with this. The situation poses something of a dilemma for President Trump. When he came into office, Trump vowed to make energy cheap and make America energy dominant globally. In oil, this means low prices at the pump and ever-growing exports. In natural gas, the goal is identical—and…

The dispute between Venezuela and Guyana over the mineral-rich Essequibo escalated after ExxonMobil made over 30 world-class discoveries, containing 11 billion barrels of crude oil, in the prolific Stabroek Block. By late 2023, Guyana was a regular target of Caracas’ bellicose saber rattling with threats of annexation and invasion, forcing the government in Georgetown to seek security assurances from Washington. While the White House’s deployment of U.S. warships off the coast of Venezuela sparked considerable consternation across Latin…

The United States is making a play to join the ranks of the world’s largest lithium suppliers. At present, the country – and the rest of the world – is highly reliant on just a few nations for lithium supplies, as well as downstream manufacturing of lithium-based products like batteries to power electric vehicles and energy storage. The element’s central role in clean energy technologies has turned it into the “white gold” of the clean energy transition, and interest in lithium supply chains is surging accordingly. …

Oil prices extended losses on Wednesday as rising OPEC+ supply and escalating U.S.-China trade tensions deepened concerns over global demand, prompting Bank of America to warn that Brent crude could drop below $50 per barrel in the months ahead. In midday trading at 1:13p.m. ET on Wednesday, WTI crude was trading at $58.55, while Brent was trading at $62.14. The pullback leaves both benchmarks down about 5-6% since the start of October, marking their lowest levels in five months and erasing much of their late-summer gains. Natural gas eased to…

Between May and August 2025, Mexico shipped more than $3 billion worth of subsidized fuel to Cuba through Gasolinas Bienestar, a subsidiary of state oil company Pemex, according to an investigation by Mexicanos Contra la Corrupción y la Impunidad (MCCI). The figure is three times higher than the total shipments during the final two years of the previous administration. MCCI found that at least 58 fuel shipments — including gasoline, diesel, and crude — departed from Mexican ports over just four months, mostly from Coatzacoalcos,…

Between May and August 2025, Mexico shipped more than $3 billion worth of subsidized fuel to Cuba through Gasolinas Bienestar, a subsidiary of state oil company Pemex, according to an investigation by Mexicanos Contra la Corrupción y la Impunidad (MCCI). The figure is three times higher than the total shipments during the final two years of the previous administration. MCCI found that at least 58 fuel shipments — including gasoline, diesel, and crude — departed from Mexican ports over just four months, mostly from Coatzacoalcos,…

General Motors said on Oct. 14 that it will bear a $1.6 billion loss to scale back its electric vehicle (EV) operations, citing weaker expected demand following recent U.S. policy changes that ended federal EV tax credits and loosened emissions rules. The Detroit-based automaker said its Audit Committee approved the loss on Oct. 7, covering the three months ended Sept. 30. The company noted that the loss is part of its plan to realign EV production and factory operations to better match customer demand. The decision was made after the expiration…

After years spent cast as the underbelly of the global economy, mining is undergoing a reputational and financial revival. Ali Lyon explores what’s behind the renaissance, and whether London risks losing its status as the industry’s spiritual home as a result. With his thick-rimmed spectacles, salt-and-pepper hair and wiry, lean build, Gustavo Pimenta is a sharp departure from the brash mining executives of yesteryear. Appointed in 2024 to head up Vale – the world’s sixth-largest miner by revenue – he faced an unenviable…

OPEC will bring in an independent consultant to evaluate the production capacity of its member states, Kuwait’s Oil Minister Saad Al Barrak said Wednesday, in what marks a rare external audit of the group’s internal metrics as quota negotiations intensify ahead of 2026. Speaking to reporters in Kuwait City, Al Barrak said the consultant would provide a “technical, neutral assessment” of each producer’s sustainable output, a process designed to ensure future production baselines reflect real capacity rather than self-reported…

OPEC will bring in an independent consultant to evaluate the production capacity of its member states, Kuwait’s Oil Minister Saad Al Barrak said Wednesday, in what marks a rare external audit of the group’s internal metrics as quota negotiations intensify ahead of 2026. Speaking to reporters in Kuwait City, Al Barrak said the consultant would provide a “technical, neutral assessment” of each producer’s sustainable output, a process designed to ensure future production baselines reflect real capacity rather than self-reported…

Russia is grappling with fuel shortages and price hikes after a string of Ukrainian attacks on its oil refineries. To protect supplies in Russia, where long lines at gas stations have been reported in some regions, Moscow has banned or restricted the export of gasoline and diesel. The move has triggered fuel shortages and price rises in some of the former Soviet republics of Central Asia, which are heavily reliant on Russian energy. Tajikistan Among Hardest Hit Tajikistan, which imports almost all its fuel -- mostly from Russia -- has been among…

Cenovus Energy Inc. said on Wednesday it had built up a 9.8% stake in MEG Energy over the past week, days before MEG shareholders are expected to vote on a Cenovus takeover offer that could put an end to a two-month-long bidding war.    Cenovus Energy on Wednesday revealed it had bought an additional 3,276,460 common shares of MEG Energy through the facilities of the Toronto Stock Exchange or other Canadian alternative exchanges or markets.  Following the latest acquisition, Cenovus beneficially owned, directly or indirectly,…

Cenovus Energy Inc. said on Wednesday it had built up a 9.8% stake in MEG Energy over the past week, days before MEG shareholders are expected to vote on a Cenovus takeover offer that could put an end to a two-month-long bidding war.    Cenovus Energy on Wednesday revealed it had bought an additional 3,276,460 common shares of MEG Energy through the facilities of the Toronto Stock Exchange or other Canadian alternative exchanges or markets.  Following the latest acquisition, Cenovus beneficially owned, directly or indirectly,…

When war in Afghanistan ended in 2021, the Central Asian republics could now focus on investments in human development and physical infrastructure without the prospect of violence spilling over the border from Afghanistan. One of the republics, Uzbekistan, pursued what Yunis Sharifli has called a “multi-vector transport strategy” coupled with a “good neighbor” foreign policy. The region has seen many proposed regional transport links, such as the Kabul and Kandahar corridors through Afghanistan to Pakistan, the China-Kyrgyzstan-Uzbekistan…