All articles tagged with #oil and gas
Family offices have stepped into oil and gas investments as Iran-driven price gains lift crude, compensating for private equity pullback and lighter ESG constraints; leveraging long horizons, they back sizable deals and minerals funds to obtain cash-flowing, inflation-hedging assets uncorrelated to stocks, though high prices can slow dealmaking and raise macro risk if the rally persists.
Interior will reimburse TotalEnergies up to $928 million to renounce two offshore wind leases (Attentive Energy in the New York Bight and Carolina Long Bay off North Carolina) and reinvest the funds in oil and gas, a move framed as steering away from renewables; meanwhile, the Coastal Virginia Offshore Wind project began delivering power to the grid, showing wind progress even as the administration pivots toward fossil fuels.
Putin asked Russia’s oil and gas majors to use their Iran-war windfall to pay off domestic bank debts, arguing a mature decision as Brent crude tops $100 a barrel amid Middle East disruption; the price surge could mean up to $150 million in additional daily revenue for Russia’s budget, aided by a U.S. sanctions waiver allowing certain Russian oil shipments.
Russia's Baltic Sea oil hubs Primorsk and Ust-Luga had suspended exports after drone attacks; Ust-Luga resumed loadings as Primorsk remained closed following aerial strikes. Primorsk exports over 1 million bpd and Ust-Luga about 700,000 bpd, with Transneft operating both ports and not commenting. Ukraine has attacked Russian oil facilities, contributing to ongoing disruptions.
An Iran-led wave of attacks targets Gulf energy infrastructure, with Kuwait’s Mina al-Ahmadi refinery hit for a second day, Qatar’s Ras Laffan LNG terminal damaged, and Tehran claiming strikes on U.S. forces at the UAE’s al-Dhafra base and targets inside Israel as Israel also strikes Tehran on Nowruz, raising alarms over energy supplies and prices as the Strait of Hormuz remains closed and regional security worsens.
Iran is considering a bill to levy tolls on vessels using the Strait of Hormuz as a way to monetize its control over the waterway amid the ongoing conflict, with lawmakers signaling the bill would require shipping, energy transit and food shipments to pay Iran; an adviser to the supreme leader said a postwar regime could allow Tehran to impose maritime restrictions on sanctioned states, reflecting Tehran’s broader strategy in the war.
The Iran conflict is forcing Asia into energy triage, with governments rationing power and shielding households as they compete for scarce oil and LNG routed through the Strait of Hormuz. Japan and South Korea tap reserves, India guards LPG subsidies, and Southeast Asian nations cut demand with shorter workweeks and price supports, while Europe shifts to long-term energy security strategies; if disruptions persist, prices rise and industrial output could slow.
The Iran–U.S.–Israel conflict widens as Israel strikes targets in Iran and Lebanon, the U.S. deploys Marines and pushes for international naval escorts through the Strait of Hormuz, and energy prices spike with gasoline approaching $3.70 per gallon; officials say the war could end in weeks with prices easing afterward, though no firm timeline is given. The day’s updates also include reports of six U.S. airmen killed in an Iraqi crash while supporting the conflict, Iran arresting dozens accused of informing for Israel, and the FCC warning broadcasters over war coverage.
Trump invoked the Defense Production Act to restart the Santa Ynez offshore pipeline near Santa Barbara amid the Iran crisis, prompting California to vow a lawsuit and arguing federal action overrides state oversight; the restart could boost fuel supplies but environmental groups warn it risks another spill and undermines California regulators.
Seeking Alpha analysts flag Shell (SHEL), TotalEnergies (TTE), BP (BP), ConocoPhillips (COP), and ExxonMobil (XOM) as having the strongest exposure to a Strait of Hormuz closure, driven by LNG and Persian Gulf oil exports; a Ras Laffan LNG facility shutdown could impact earnings for COP, XOM, SHEL, and TTE, though near‑term effects are likely modest given scale and diversification; upstream-focused companies such as COP, Occidental (OXY), EOG Resources (EOG), Devon Energy (DVN), and APA (APA) may see more earnings volatility from Gulf-region disruptions.
California built a first-in-the-nation system to cap refinery profits and penalize price gouging during spikes, but regulators delayed the rules for five years and have not used them; as gas prices climb with the Iran conflict and the state’s shrinking refinery capacity, critics say the delay costs drivers billions and undermines consumer protections, while supporters warn enforcement could disrupt supply and investment—leaving the tools dormant until at least 2029 unless the delay is rescinded.
Iran's war is disrupting oil and gas supplies and driving up energy prices, prompting a mixed boost for cleaner energy in some regions while keeping coal in play in others. Higher prices could accelerate renewables and EV adoption to hedge against gas spikes, but the outcome remains messy and uneven rather than a straightforward shift to clean energy.
Abu Dhabi's ADNOC shut the Ruwais refinery complex after a drone strike caused a fire; Ruwais Refinery 2 is being safety-shutdown, while other units in the complex continue operating and there were no injuries.
The Bahamas-flagged crude tanker Sonangol Namibe, anchored near Iraq’s Khor al Zubair port, may have suffered a hull breach after a blast when approached by an unknown small vessel; ballast-tank water loss suggests a breach, but the ship is stable, not carrying cargo and there’s no reported pollution.
Qatar says its air force shot down two Iranian bombers and halted LNG production after drone strikes on two QatarEnergy sites, as Iran expands attacks to oil facilities in Saudi Arabia and the UAE, sending energy prices higher and prompting regional security alerts amid casualties and damage across multiple Gulf states.