Iran will close parts of the critical oil shipping lane in the Middle East, the Strait of Hormuz, for a few hours on Tuesday as it is conducting military drills in the area, Iran’s Fars news agency reports.   The partial closure is due to “security precautions,” per the semi-official Iranian news agency cited by Reuters.   Iran’s naval forces of the Islamic Revolutionary Guard Corps (IRGC) on Monday launched a military drill, dubbed “Smart Control of the Strait of Hormuz,” on the eve of the…

For decades, oil prices could swing wildly on even the distant prospect of war in the Middle East. With U.S. shale, that changed, leading many to assume that anything short of an oil blockade in the Strait of Hormuz will leave oil markets cold—and such a blockade is highly unlikely. This, however, is a false sense of security. Geopolitics can still flip the script on oil bears. The most recent oil price rally was prompted by the threat of a military escalation between the United States and Iran. Interestingly, the oil blockade that the United…

For the first time ever, China now has more operating power capacity from clean energy sources than capacity running on fossil fuels, thanks to a decade of booming solar and wind installations.     China, the undisputed global leader in clean energy investment, has 52% of operating power capacity coming from non-fossil fuel sources as of February 2026, while 48% of installed capacity is fossil fuel-based, according to data tracked by Global Energy Monitor.  For years, China, the world’s biggest greenhouse gas polluter,…

After years of steady energy consumption rates, the Great Lakes region is expected to see a 2 to 3 percent annual rise in energy demand over the next ten years as data centers pop up at a rapid clip to support the AI boom. Not only will this growth rate place extra stress on local energy grids (and therefore on consumers’ bottom lines), it could also pose a real threat to water resources in an area where freshwater is rarely thought of as scarce. “The energy story emerging today is one of tumultuous change in energy supply and demand…

A slew of high-quality oil discoveries in offshore Block 58 by TotalEnergies and its 50% partner, APA Corporation, has seen the tiny South American country of Suriname touted as the next Guyana. While Suriname’s offshore waters hold considerable petroleum potential, the country’s oil boom has been fraught with delays. Conflicting geological data, high gas-to-oil ratios, poor drilling results and economic headwinds are weighing heavily on the former Dutch colony’s oil boom. There is no certainty that Suriname will ever enjoy the…

The history of chlorofluorocarbons (CFCs), their danger to the ozone layer, and the drive to replace them reminds me of an observation from former CBS news correspondent and commentator Eric Sevareid: "[T]he real cause of problems is solutions." When chemists F. Sherwood Roland and Mario Molina asked where chlorofluorocarbons (CFCs) go after leaking from refrigerators and air conditioners or being intentionally released from aerosol cans, they did not know that the answer would lead to the world-shaking discovery that these chemicals were threatening…

Operations at the Mukran LNG terminal in Germany’s Baltic Sea have resumed following successful icebreaking operations to clear a navigable channel. The facility had been temporarily disrupted by heavy sea ice, preventing cargo ships from departing.Situated on Ruegen island, the Mukran LNG terminal is operated by Deutsche ReGas, which has been utilizing floating storage and regasification units (FSRUs) such as the Energos Power and Neptune. After a slow start, the terminal achieved record-high gas deliveries by the second quarter of 2025,…

During the Cold War, the Kremlin worried about the threat posed by American nuclear missiles. Now, Russian leaders seem panicked at the thought of an American nuclear reactor at their doorstep. Since the United States and Armenia signed a nuclear cooperation deal on February 9 during Vice President JD Vance’s visit to Yerevan, the Kremlin has seemingly gone to a civilian equivalent of DEFCON 3 with a wide-ranging effort to scuttle the construction of a US-designed nuclear plant on Armenian soil. In addition to media…

Hungary and Slovakia have formally requested that Croatia authorize the transit of Russian crude oil via the Adriatic pipeline, following the complete suspension of oil flows through the Ukrainian section of the Druzhba pipeline, which has been out of service since January 27. The two countries seek to use the Adria pipeline (operated by the Croatian state-owned company Janaf), which connects the Croatian port of Omišalj to refineries in Hungary and Slovakia.  According to Hungarian Foreign Minister Péter Szijjártó,…

Hungary and Slovakia have formally requested that Croatia authorize the transit of Russian crude oil via the Adriatic pipeline, following the complete suspension of oil flows through the Ukrainian section of the Druzhba pipeline, which has been out of service since January 27. The two countries seek to use the Adria pipeline (operated by the Croatian state-owned company Janaf), which connects the Croatian port of Omišalj to refineries in Hungary and Slovakia.  According to Hungarian Foreign Minister Péter Szijjártó,…

Hungary and Slovakia have formally requested that Croatia authorize the transit of Russian crude oil via the Adriatic pipeline, following the complete suspension of oil flows through the Ukrainian section of the Druzhba pipeline, which has been out of service since January 27. The two countries seek to use the Adria pipeline (operated by the Croatian state-owned company Janaf), which connects the Croatian port of Omišalj to refineries in Hungary and Slovakia.  According to Hungarian Foreign Minister Péter Szijjártó,…

Nigeria’s Dangote Refinery processed a record 40.1 million litres of crude per day in January, representing 57% of tthe otal supply and marking a 25% increase from 32 million litres in December 2025. The refinery now supplies 62% of the country’s Premium Motor Spirit, overtaking fuel importers for the first time ever. The giant plant--the world's largest single-train refinery--finally reached full operational capacity at 650,000 bpd, marking an important milestone in Nigeria’s efforts to cut reliance on imported fuel.   …

The headlines in early 2026 have been dominated by political upheaval in Caracas. Following the dramatic events of early January and the overhaul of Venezuela’s Hydrocarbons Law on January 29, analysts have rushed to debate the morality of renewed American involvement in the Orinoco Belt. But while the world focuses on the politics, the real story is unfolding thousands of miles away, inside the distillation towers along the U.S. Gulf Coast. To understand why Chevron is moving aggressively to ramp Venezuelan production, you have to look past…

Eni has made a major natural gas and condensate discovery offshore the Ivory Coast in Africa, in part of what is estimated to be the second largest discovery in the country after Baleine, the Italian energy major said on Monday.  Eni has focused on exploration offshore Africa in recent years as it looks to boost its natural gas resources and farm out minority shares to other companies and investors to fast-track the development of the discoveries.       In the latest discovery offshore Côte d'Ivoire, also…

Eni has made a major natural gas and condensate discovery offshore the Ivory Coast in Africa, in part of what is estimated to be the second largest discovery in the country after Baleine, the Italian energy major said on Monday.  Eni has focused on exploration offshore Africa in recent years as it looks to boost its natural gas resources and farm out minority shares to other companies and investors to fast-track the development of the discoveries.       In the latest discovery offshore Côte d'Ivoire, also…

As gold prices surged more than 230% since 2020, central banks around the world launched one of the largest gold-buying waves in modern history. For many countries, bullion became more than just a hedge—it became a strategic reserve asset amid rising geopolitical tensions, currency volatility, and growing efforts to diversify away from the U.S. dollar. Yet not every nation followed the same playbook: some were accumulating gold aggressively, while others were trimming reserves. This chart, via Visual Capitalist's Niccolo Conte, ranks the…

A Chevron-led consortium on Monday signed the lease contracts for oil and gas exploration offshore Greece as the southern European country aims to become a major gas supplier in the Mediterranean.   Chevron, in partnership with Helleniq Energy, signed the lease agreements with Greece concerning the exploration of four offshore blocks south of Crete and the Peloponnese.  Greece picked the consortium as the preferred bidder at the end of last year following a tender, and has now made Chevron’s entry official with the signing…

US Secretary of State Marco Rubio has emphasized a diplomatic approach to Iran, saying he wasn't going to speak about a military attack and that President Donald Trump "has made it clear he prefers diplomacy." Speaking at a joint press conference in Bratislava with Slovak Prime Minister Robert Fico on February 15, Rubio said that "no one has ever been able to do a successful deal with Iran, but we are going to try." Rubio is in Slovakia for one day as part of a broader European tour focused on strengthening ties with key allies. "Right now, we…

China’s oil imports from Russia are on track for all-time high of over 2 million barrels per day in February as India is withdrawing from Russian spot purchases and supply is now heavily discounted for Chinese independent refiners.    China is set to import 2.07-2.08 million barrels per day (bpd) of oil from Russia this month, according to data from Vortexa and Kpler cited by Reuters.  The figure would be a new record high and significantly higher than the 1.7 million bpd estimated imports of Russian oil to China in January. …

Retired General Jack Keane, former Vice Chief of Staff of the U.S. Army and a long-standing voice on defense readiness, has joined the board of REalloys as the company brings online North America’s first industrial-scale heavy rare-earth processing and metallization platform dedicated to the defense supply chain.For decades, the U.S. defense industry relied on Chinese processing to turn rare earths into finished metals and alloys that could be used in weapon systems. A newly announced merger between Blackboxstocks Inc. (NASDAQ: BLBX) and…