An Australian trade union is threatening to start a strike at an LNG export facility from May 27, in a two-week-long industrial action that could further tighten the global LNG supply, which is already stretched thin amid the Iran war and the closed Strait of Hormuz. The Offshore Alliance union, the Australian Workers Union, and Maritime Union of Australia, on Monday notified Japanese company Inpex there could be 243 stoppages and work bans at Inpex’s Ichthys LNG facilities between May 27 and June 10, after the unions and the company failed…

Recent oil price shocks in response to the closure of the Strait of Hormuz underscore the importance of oil-producing countries outside of the Middle East. One of the most important is Brazil, Latin America’s largest economy and oil producer. The country is experiencing an epic decades-long oil boom, which was responsible for production hitting a new record high for March 2026. This places Brazil on track to become a top-five global producer by the end of the decade, making the country important to bolstering energy security in the Americas.…

The U.S. Federal Reserve is set to begin a new era after former governor Kevin Warsh won a highly polarized 54-45 Senate confirmation vote to replace Jerome Powell as the Fed Chair. A close ally of U.S. President Donald Trump, Warsh will face a difficult job balancing complicated policies and conflicting goals. He is also under strong pressure from Trump to cut interest rates, even as inflation rises, partly because of higher oil prices. Oil prices rose again on Monday following Trump’s stark warning to Iran following reports of attacks on…

The Trump administration has allowed a controversial waiver on sanctions targeting Russian seaborne oil to expire, reimposing restrictions that had temporarily enabled countries such as India to continue purchasing Russian crude despite Western efforts to curb Moscow's wartime revenues. The move, which took effect on May 16 after the Treasury Department declined to renew General License 134B, highlights the increasingly difficult balance Washington faces between tightening pressure on the Kremlin and preventing further disruption to global energy…

The oil and gas crunch caused by the war between the U.S., Israel, and Iran, has cost global businesses $25 billion, Reuters reported today, adding that the bill is going to climb higher still. The publication analyzed corporate statements issued after the war started, finding that as many as 279 companies had cited the war as a reason for defensive actions, including price hikes and production cuts to cushion the blow from soaring oil and gas prices. Other companies from Reuters’ sample had opted for suspending dividend payments and share…

Oil prices climbed in early Asian trade on Monday as drone attacks on both the UAE and Saudi Arabia further dimmed hopes of any de-escalation in the region. The lack of a breakthrough on an Iran agreement during Trump's visit to China also added to upward pressure for oil prices, with fears of major global shortages now rising rapidly. At the time of writing, WTI front-month futures were trading at $108.20 per barrel, up 2.59% on the session, while Brent had climbed to $111.50 per barrel, up 2.03%. The latest drone strikes included an attack that…

The world is running out of oil. Implausible three months ago, the likelihood of a crude shortage on a global scale is becoming increasingly realistic with each day that the Strait of Hormuz remains almost completely blocked. Analysts are no longer modeling for a swift end to the war between the United States, Israel, and Iran. They are now also allowing for an extended period of severe energy flow disruptions—and it is not looking good. Kpler reported earlier this month the cumulative loss of oil supply in the Middle East since February…

Dealmaking in the U.S. shale patch jumped to a two-year high in the first quarter as M&A activity rebounded from a slump. U.S. upstream mergers hit $38 billion in Q1 2026, marking the highest quarterly total in two years despite a sharp slowdown in March due to a spike in volatility tied to the Middle East conflict. According to Enverus Intelligence Research, the U.S. Shale Patch has likely entered yet another consolidation wave, with a higher-for-longer oil price environment expected to supercharge both corporate mega-mergers and private asset…

Experts warn that critical minerals mining could go the way of the oil and gas industry if we are not careful, with developing countries worldwide being exploited for their resources. As more countries around the globe invest heavily in growing their renewable energy capacity, governments are racing to secure their critical mineral supply chains to support the growth of the green energy and cleantech sectors. However, rapid sectoral growth could threaten both the environment and communities in mineral source countries if not developed sustainably. …

Our global energy landscape is shifting faster and in more complex ways than ever before as it is besieged by geopolitical, economic, and logistical challenges. The world’s energy systems were already undergoing a seismic shift in response to climate change, but are now contending with major, largely unforeseen push and pull factors from the artificial intelligence boom and the unfolding energy crisis spurred by the United States’ and Israel’s war in Iran. Meeting skyrocketing global energy needs without compromising energy security…

After years of delays and restrictions to private investment, Mexico’s renewable energy sector is expected to undergo a transformation as President Claudia Sheinbaum encourages greater private sector participation to expand the country’s energy sector. Solar and wind energy will be a major focus, thanks to Mexico’s favourable climatic conditions, which will go hand in hand with the expansion of the country’s transmission network.  In March 2025, President Sheinbaum announced a new National Energy Reform that opened…

Even though the Xi–Trump summit in Beijing was supposed to project stability, the outcome was clearly the opposite. In real terms, the meeting could ultimately be remembered as the moment the world began to understand that there is no viable great-power strategy to contain the Iran war or to reopen the Strait of Hormuz. The latter will have a long-lasting, debilitating effect on the stability of global shipping and energy markets. Even when taking into account all the choreography, ceremonial handshakes, and triumphant statements, the meeting…

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…

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…

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…