Russia has received its first gasoline cargo from India as Ukrainian attacks knock out refining capacity and a second wave of fuel shortages spreads across at least 10 Russian regions, Reuters reported on Monday. The roughly 68,000-metric-ton cargo was produced by Nayara Energy at its Vadinar refinery in western India and delivered to Russia’s Arctic port of Vitino after a ship-to-ship transfer at Port Said, Egypt. Two more gasoline cargoes from India are expected to reach Russia in the coming weeks. Russia’s gasoline shortages have…

Russia has received its first gasoline cargo from India as Ukrainian attacks knock out refining capacity and a second wave of fuel shortages spreads across at least 10 Russian regions, Reuters reported on Monday. The roughly 68,000-metric-ton cargo was produced by Nayara Energy at its Vadinar refinery in western India and delivered to Russia’s Arctic port of Vitino after a ship-to-ship transfer at Port Said, Egypt. Two more gasoline cargoes from India are expected to reach Russia in the coming weeks. Russia’s gasoline shortages have…

Since early March, a previously obscure waterway between Iran and Oman that very few people could name has become the subject of daily reporting around the world after Iran closed it in response to the attack on Iran by the United States and Israel. The Strait of Hormuz, which remains closed to most ships, is now known around the world as the transit point for 20 percent of the world's oil and high percentages of key materials including fertilizers such as ammonia (23 percent), urea (34 percent) and phosphate (20 percent), helium (30 percent),…

Chevron has announced a new oil and gas condensate discovery offshore Angola, hitting more than 2,000 feet of hydrocarbons in a Block 0 exploration well that could be tied directly into the company’s existing production infrastructure in the country. The 105-4X well encountered more than 300 feet of net pay in the Pinda reservoir in the Lower Congo Basin, with Chevron describing the reservoir quality as “excellent” in a press release. The company has not yet disclosed an estimate of recoverable resources or potential production.…

U.S. importers hauled in more than 200,000 tonnes of refined copper in July, the biggest monthly volume in at least 12 years. Add that to what's already sitting in Comex warehouses, LME-registered stock and private port storage, and the country's copper stockpile is now pushing past 1 million tonnes, built almost entirely on the bet that Washington is about to tax refined imports. LME warehouse stocks, however, have fallen for 42 straight sessions, the longest losing streak since 2014, down to just 204,975 tonnes, with nearly half of that already…

Libya’s electricity grid suffered another major collapse on Monday, knocking power plants offline across western, central and southern parts of the country, shutting down the Great Man-Made River water system, fueling widespread public anger in a country already divided between rival power centers. The Zawiya, Khoms and Ubari power plants went offline, with large parts of western and central Libya losing electricity. The Libya Herald reported that it was the third major blackout to hit western Libya in two days. The cause of Monday’s…

Libya’s electricity grid suffered another major collapse on Monday, knocking power plants offline across western, central and southern parts of the country, shutting down the Great Man-Made River water system, fueling widespread public anger in a country already divided between rival power centers. The Zawiya, Khoms and Ubari power plants went offline, with large parts of western and central Libya losing electricity. The Libya Herald reported that it was the third major blackout to hit western Libya in two days. The cause of Monday’s…

Libya’s electricity grid suffered another major collapse on Monday, knocking power plants offline across western, central and southern parts of the country, shutting down the Great Man-Made River water system, fueling widespread public anger in a country already divided between rival power centers. The Zawiya, Khoms and Ubari power plants went offline, with large parts of western and central Libya losing electricity. The Libya Herald reported that it was the third major blackout to hit western Libya in two days. The cause of Monday’s…

When President Vladimir Putin sent his forces into Ukraine, the Kremlin appeared to be betting on a familiar axiom of European security: sheer Russian mass, backed by vast Soviet-era stockpiles and nuclear power, would overwhelm resistance. More than four years into Moscow’s full-scale invasion, that assumption has been all but obliterated. Ukraine survived, derailed Russia's expected quick victory, and turned the conflict into a high-tech war of attrition. It has developed an innovation cycle that Joshua Huminski, senior vice president for…

Grid constraints and rising coal-fired power generation in China led to soaring curtailment rates of solar and wind power generation in the first half of the year. China curtailed as much as 360 terawatt-hours (TWh) of solar and wind generation between January and June, up by 49% from a year earlier, a report by the Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM) showed. All the clean electricity curtailed would have been enough to meet all of China's electricity demand growth in the first half of 2026 and allow…

Grid constraints and rising coal-fired power generation in China led to soaring curtailment rates of solar and wind power generation in the first half of the year. China curtailed as much as 360 terawatt-hours (TWh) of solar and wind generation between January and June, up by 49% from a year earlier, a report by the Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM) showed. All the clean electricity curtailed would have been enough to meet all of China's electricity demand growth in the first half of 2026 and allow…

Grid constraints and rising coal-fired power generation in China led to soaring curtailment rates of solar and wind power generation in the first half of the year. China curtailed as much as 360 terawatt-hours (TWh) of solar and wind generation between January and June, up by 49% from a year earlier, a report by the Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM) showed. All the clean electricity curtailed would have been enough to meet all of China's electricity demand growth in the first half of 2026 and allow…

Following the Washington-led removal of Venezuela’s previous president, Nicolás Maduro, from office on 3 January this year, U.S. firms are pushing hard to keep increasing oil production from the hydrocarbons giant, in line with President Donald Trump’s grand plans for the country within his new world order. The foundation for such output increases is extremely solid, as Venezuela still holds the world’s largest proven crude reserves -- roughly 303 billion barrels, or about 17% of the global total. Most of this is extra-heavy…

The project to ship Iraqi crude to the Syrian Mediterranean coast to bypass the Strait of Hormuz is still at least four years and $15 billion in investments away, sources familiar with the project told Reuters on Monday. The pipeline plan, supported by the U.S. Administration as a way to reduce the importance of the Strait of Hormuz in global oil supply, is being reviewed and its feasibility assessed by a consortium, which includes U.S. supermajor Chevron. The U.S. is touting the project as making Hormuz “irrelevant” within two years,…

Rising energy prices are poised to send UK inflation rearing back up, as economists warn that the summer boost to the economy could be fleeting. The rate of Consumer Prices Index (CPI) inflation is tipped to rise to 2.9 per cent in July, climbing from June’s 15-month low of 2.6 per cent, when the Office for National Statistics (ONS) releases its figures on Wednesday. While frequent heatwaves and the World Cup have boosted the UK’s summer economy, economists are sounding the alarm over Ofgem’s recent hike to its energy price cap.…

India’s authorities have given solar developers missing their deadlines the option to pay to keep their grid connectivity instead of losing it, Reuters has reported, citing the country’s Central Electricity Regulatory Commission. With grid connectivity a limited resource, space should not be kept unused, the regulator said. According to the regulator, if a solar or wind developer misses its own project deadline, they can remain on the list for a grid connection, but they would have to pay the equivalent of $10.48 per megawatt per day…

U.S. Energy Secretary Chris Wright this week said that the oil exports from the Middle East have rebounded to 15 million barrels per day (bpd) and even topped the pre-war average of 20 million bpd on Sunday.   Vessel-tracking services and commodity analysts are baffled and struggling to reconcile these numbers with their observations of tanker loadings and traffic in the region. Ship-tracking data shows oil flows out of the Strait of Hormuz are, at best, half the volume cited by Secretary Wright. Of all oil exports out of the Middle East,…

With less than three full months left until the start of heating season in much of Europe, the issue of gas inventories is becoming increasingly pressing. Current inventory levels are at the lowest in 17 years, and supply available for purchase is tighter than it was back in 2022. Yet Europe needs to start buying gas now—or risk shortages. The energy import dependence of most of Europe has been in the spotlight for the past four years. The sanction barrage against Russia led the European Union—and Germany specifically, as Russia’s…

Oil prices have soared in recent months as a result of the almost complete closure of the Strait of Hormuz, a key trade corridor connecting Asia and Europe. High fossil fuel prices have helped to drive up the profits of oil and gas companies around the globe, particularly in the United States and Europe. As a few companies boost production to fill the gap, some oil majors have seen record earnings in the first half of the year, a trend that is expected to continue for as long as Hormuz trade remains restricted. Eight of the largest oil firms achieved…

AI's energy footprint is out of control. Hyperscalers are building out data centers faster than the energy industry can keep up with, pushing for the rapid buildout of any form of energy we have at our disposal, clean or dirty. Silicon Valley's leadership in the decarbonization movement and bold net-zero pledges are a thing of the past. But a new study warns that the biggest issue with AI's carbon footprint may not even be its own energy consumption, but rather the industries it is used to support and expand. Instead of reducing emissions, Big…