All articles tagged with #gas
Ukrainian forces conducted overnight strikes on Russia, hitting the Orenburg Gas Processing Plant—one of the world’s largest gas complexes and a helium producer—and two military satellite-communications centers near Dubna and in the Vladimir region, as part of Kyiv’s campaign to disrupt energy facilities and military infrastructure with long-range weapons.
A massive blast at Ras Laffan, Qatar’s LNG hub, killed 13 and injured 66, with authorities calling it an accident and saying exports and local gas needs are not affected; officials and QatarEnergy are investigating the cause, noting the incident occurred during startup at the Barzan gas facility in the Ras Laffan industrial zone.
Europe faces growing gas competition from Asia as summer demand rises and storage targets loom; with weak coordination and Asia's preference for spot-market buys, the bloc could be outbid and face higher gas and electricity prices, even if a U.S.-Iran deal eases tensions.
An explosion at Qatar’s Ras Laffan gas export terminal injured 54 people and left 18 missing, with authorities conducting rescue and investigations at the Ras Laffan industrial complex as of June 22, 2026.
Costco undercuts local gas stations by roughly 30 cents per gallon and uses the resulting high-volume gas sales to drive store traffic and membership value. While gas is a thin-margin product, the company profits mainly from membership fees, with gas helping boost overall warehouse purchases. When gas prices rise, Costco often gains from volume and loyalty; when prices fall, margins tighten but the churn and foot traffic can still support long‑term growth.
With California’s drivers paying among the highest prices in the nation, Gov. Gavin Newsom faces growing pressure to suspend the state’s 61-cent gas tax even as President Trump advocates a temporary federal gas‑tax pause. Supporters say relief is needed, but Newsom and others warn that a federal pause would not fix underlying costs or fund road repairs, and state lawmakers have shown little appetite to suspend the state tax. Any federal action would require Congress, complicating the relief effort.
The Independent reports that Donald Trump reportedly has a theoretical 'nuclear option' to lower U.S. gas prices by restricting crude exports, a move that could temporarily boost domestic supply but risk sparking a global recession and major trade frictions; White House officials say the idea isn’t under consideration, while analysts warn any price relief would likely be short‑lived given U.S. dependence on foreign crude and ongoing tensions with Iran, with gas averaging about $4.53 a gallon.
The Center on Global Energy Policy argues that Iran’s oil sector can likely weather production shut-ins caused by the U.S. blockade, with potential cuts up to about half of pre-war output to avoid full storage, and a relatively quick recovery to around 70% of capacity if the blockade eases. However, gas fields are at greater risk due to lack of outlets for associated hydrocarbons, requiring rationing among exports, power, industry, and domestic use, and long-run capacity could erode from sanctions and financing/tech constraints. The analysis covers key Iranian oil regions (Khuzestan, West Karoun, offshore fields) and the giant South Pars gas field, noting that while oil restarts are typically feasible, gas output faces tighter constraints that could limit overall capacity over time.
An LNG tanker named Mubaraz carrying over 130,000 cubic meters of gas from the UAE became the first full gas tanker to exit the Strait of Hormuz since the Iran conflict began; its signal disappeared in March and reappeared west of India, now heading to Tianjin, China, and is managed by ADNOC’s subsidiary. Earlier in April an empty tanker crossed Hormuz, but more than a dozen gas tankers remain trapped in the Persian Gulf. Lloyd’s List data show a sharp drop in transits through the strait as tensions persist and Iran has threatened tolls and attacked vessels.
The European Commission will roll out a sweeping emergency energy package to shield Europe from the Gulf war's ripple effects, proposing temporary tweaks to subsidies (covering up to 70% of wholesale power bills and up to 50% of extra fuel costs for some sectors), targeted tax cuts, and steps to coordinate gas and jet-fuel supply while continuing the climate agenda; officials warn real relief will take time and the situation remains volatile as member states juggle short-term fixes with long-term decarbonization.
It could take up to two years to restore a meaningful share of oil and gas production lost to the Iran war, says IEA chief Fatih Birol. The damage across the Persian Gulf and a largely closed Strait of Hormuz have removed hundreds of millions of barrels from the market, with spot crude approaching $150, and reopening shipping won’t quickly revive output—facilities must be repaired and restarted, a process that could take longer than two years for some LNG terminals. The disruption is already dampening demand, with Asia and Africa likely to feel the impact hardest as energy-importing economies grapple with higher prices and inflation.
A deepening conflict in the Persian Gulf has disrupted oil and gas markets and prompted Europe and Asia to turn back to coal as a readily available substitute amid a fresh gas supply crunch, with Asia’s LNG importers—Japan, South Korea and Taiwan—leading the expected rise in coal demand.
Strikes on Iran’s gas infrastructure, including a pipeline supplying a Khorramshahr power plant and facilities in Isfahan, signal rising vulnerability of energy systems as the conflict broadens. The incidents could disrupt domestic supply and regional flows, potentially lifting energy prices and inflation with spillovers to currencies and rates; reports come from Fars News Agency and are part of ongoing monitoring of escalating tensions.
Shut Strait of Hormuz keeps about a fifth of worldwide oil and LNG supply stranded, pushing Brent to around $112 and European gas prices up sharply, signaling a persistent energy shock that traders expect to endure even in the best-case scenario.
Russia dispatched two tankers—Sea Horse with roughly 27,000 tons of gas and Anatoly Kolodkin carrying about 725,000–728,000 barrels of oil—to Cuba, its first energy shipments in three months, as Havana struggles with shortages amid the U.S. blockade; Sea Horse is due soon and Anatoly Kolodkin in early April, with Moscow pledging ongoing support.