Ukrainian strikes on Russian oil infrastructure have led to widespread fuel rationing across 53 regions, impacting major cities like Moscow and St. Petersburg. President Putin acknowledged the economic damage, while Ukraine secured significant new military aid commitments.
Asean leaders met with Vladimir Putin in Kazan, Russia, marking 35 years of ties and demonstrating Asean's diplomatic reach beyond Western pressure. The leaders sought energy, fertilizer, and technology, signaling a desire to engage with Russia despite geopolitical tensions and doubts about Washington's commitment.
Ukrainian drone strikes on Russian oil refineries have led to fuel supply disruptions in over 10 regions, with Crimea experiencing a "logistical lockdown." While not a full-scale crisis, shortages are increasing, prices are rising, and experts warn of escalating problems if damaged refineries cannot resume operations.
Oil prices surged as Iran declared the Strait of Hormuz closed. Meanwhile, Malaysia's Akmal stated the country has secured fuel supply until end-July, rejecting shortage concerns and noting Petronas' role in assessing refinery readiness for diverse crude sources.
Australian government documents reveal plans for retail fuel rationing, including a "maximum transaction value per vehicle per day," as a worst-case scenario. This comes amid warnings from the International Energy Agency about dwindling global oil stocks.
Pacific foreign ministers have established a taskforce to address potential fuel supply shocks stemming from Middle East conflict. They are also preparing a statement calling for peace, as inflation already impacts the region.
Pacific foreign ministers have established a regional taskforce to address potential fuel supply disruptions caused by conflict in the Middle East. The Pacific Islands Forum secretary-general warned that the region would suffer if tankers stop arriving, while foreign ministers endorsed an appeal for peace and an end to the war in Iran.
Australia's Prime Minister Anthony Albanese stated that the nation's supply of petrol, diesel, and jet fuel is now greater than before the Iran war began in late February. He also noted a drop in fuel demand and refused to commit to extending the fuel excise cut beyond July 1st.
Greenpeace, Transport and Environment, and other groups call for banning private jets and reducing UK motorway speed limits to 60mph to mitigate an impending fuel supply crisis, citing minimal inconvenience now to avoid severe shortages and price spikes later.
A strategic diesel reserve of between 10 million and 20 million litres will be established in SA to bolster the state's fuel supply and provide assurance to farmers, the state government says.
Billions of dollars worth of investment will flow if the federal government mandates a percentage of biofuels be added to the nation's fuel supply, major investors say.
Billions of dollars worth of investment will flow if the federal government mandates a percentage of biofuels be added to the nation's fuel supply, major investors say.
India has successfully navigated the Middle East crisis, ensuring stable fuel supplies and uninterrupted maritime operations. Despite global price surges, consumers are shielded through excise duty cuts and increased domestic production. State-run oil companies are absorbing significant daily losses to maintain current prices, while Indian seafarers in the Gulf remain safe and maritime operations at Indian ports are normal.
The owner of British Airways has said it does not expect its services across main markets to be affected by the threat of jet fuel shortages "throughout the summer", as supplies are squeezed by the effects of the US-Iran war.
The China Eastern Airlines plane that crashed into a hillside in 2022, killing all 132 people on board, had its fuel supply cut mid-flight, newly released investigative material shows, which bolsters the theory that the aircraft was intentionally brought down. While China still has yet to release a final report on the accident, findings released by the US National Transportation Safety Board this month show that levers controlling the flow of fuel to the jet’s engines were switched to the...
The Indian government has assured citizens of uninterrupted fuel supplies, citing adequate reserves and fiscal measures to mitigate the impact of rising global crude prices caused by the ongoing Middle East conflict.
As the Middle East conflict drags on, Energy Minister Amber-Jade Sanderson says she's confident about May supplies, and has "growing confidence" for June's outlook.
US President Donald Trump says Iran is "asking for things that I can't agree to", but details of the proposal are unclear.
Government request follows contingency planning to stop planes being grounded if Iran war supply shocks continueBusiness live – latest updatesBritish refineries have been asked to maximise jet fuel supply as part of government contingency planning, amid growing fears the Iran war will force planes to be grounded.Energy minister Michael Shanks said the government is closely monitoring UK jet fuel stocks and working with airlines, airports, fuel suppliers and other governments, as carriers face rocketing fuel costs as a result of the conflict. Continue reading...
Europe is grappling with a severe jet fuel shortage following the closure of the Strait of Hormuz. Airlines are competing globally for limited alternative supplies, leading to rising costs and the threat of flight cancellations as the industry faces a critical supply stress test.
As the international fuel crisis continues to cause concern, the federal government is under pressure to provide a fix during next month's budget.
As the international fuel crisis continues to cause concern, the federal government is under pressure to provide a fix during next month's budget.
TotalEnergies has maximised its output at the Gonfreville refinery to protect the French market from external supply shocks. The facility is operating at its limit to produce essential fuels as energy markets remain disrupted.
