Kirill Babayev, director of the Russian Academy of Sciences' Institute of China and Contemporary Asia, stated that unresolved tensions between the US, Israel, and Iran will continue to create uncertainty in global energy markets. He believes Russia can serve as a reliable energy supplier for ASEAN countries.
Shipowners will not resume transit through the Strait of Hormuz for weeks until a US-Iran deal is "material" and evident in real-world conditions, according to Mitsui O.S.K. Lines CEO Jotaro Tamura. The conflict, which began Feb 28 with US-Israeli strikes, had largely halted shipping through the vital route.
EU imports of Russian LNG rose 17.9% between Jan-May 2026 compared to 2025, with 96.7% of Yamal LNG exports going to EU ports. This occurs despite EU bans on short-term contracts and upcoming long-term contract bans, highlighting a missed opportunity to fully pressure Russia's war economy.
Jiangnan Shipyard reveals a floating green marine hub concept powered by a molten salt nuclear reactor, integrating shipping, energy production, and green fuel synthesis, showcased at Posidonia International Shipping Exhibition.
Russian President Vladimir Putin has authorized Nordline LLC, a subsidiary of Novatek, to acquire a 10% stake in the Arctic LNG 2 project from France's TotalEnergies. The decree was posted on the legal information portal.
A woman and her dog narrowly escaped a quicksand patch on Glenelg North beach in South Australia, prompting council warnings. Another woman required rescue by emergency services. Experts explain the phenomenon and its dangers, particularly with incoming tides.
Grandmaster Hans Niemann secured his most significant career win at the Warsaw Rapid & Blitz, taking home $50,000. The victory comes amidst the lingering controversy from his 2022 match against Magnus Carlsen.
The EU's imports of Russian LNG surged 16% year-over-year in Q1, despite plans to phase out Russian fossil fuels by 2027, due to the energy crisis exacerbated by the US-Israeli war on Iran and global LNG market disruptions.
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Decades of complacency cannot be magicked away by drilling in the North Sea – or even by hoping that renewables will quickly power everythingEwan Gibbs is a historian of energy at the University of GlasgowFirst it was Russia’s full-scale invasion of Ukraine, now it is the blockade of the world’s petroleum artery in the Gulf. For the second time in four years, Britain is facing an energy crisis that has been made much worse because of the absence of preparation by its political leaders.The fact is that our energy politics were conceived for a world where convulsive, global events were a thing of the past. The notion that it would be difficult to access supplies of oil or liquefied natural gas from the international markets did not figure in the understanding of the politicians and officials who shaped our perilous current moment. But even today, the advocates of energy sovereignty on the left and right appear to lack knowledge, understanding or power over this very foundational matter.Ewan Gibbs is a historian of energy, industry, work and protest at the University of Glasgow. He is the author of Coal Country: The Meaning and Memory of Deindustrialization in Postwar Scotland Continue reading...
US liquefied petroleum gas exports increased to a record 3.3 million barrels per day in April
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MT Sarv Shakti, a Marshall Islands-flagged gas carrier carrying 46,313 metric tons of liquefied petroleum gas for India, successfully transited the Strait of Hormuz on May 2. The vessel with 20 crewmembers, including 18 Indian nationals, is expected to reach the port of Visakhapatnam on May 13.
Observers say pressure on IMO negotiations appears to be linked to countries that have invested heavily in gasAbout a fifth of the world’s oil and liquefied natural gas (LNG) passed through the strait of Hormuz, a strip of sea less than 30 miles wide at its narrowest point, before it was in effect closed by the US-Israeli attack on Iran, which sent the price of oil soaring and left an estimated 20,000 seafarers on 2,000 vessels stranded.Their plight has shone a spotlight on the complex and dirty relationship between shipping and the fossil fuel industry. The sector is one of the most polluting, with most ship engines fuelled by what has been called the dregs of the oil refining process, heavy and carbon-intensive diesel too filthy for any other purpose. Shipping produces about 3% of global greenhouse gases, a portion set to rise as trade globalises further. Continue reading...
Iran effectively closed the crucial waterway when the war broke out on 28 February. Normally one-fifth of the world's oil and liquefied natural gas transits the waterway. Its closure has sent energy prices skyrocketing around the world.
Operating costs for Hong Kong’s industrial and commercial sectors have jumped 50 per cent since the start of the US-Israel war with Iran, according to an oil industry representative, who said distributors would pass on subsidies to customers. A taxi union leader on Thursday also called on the government to extend its subsidy on liquefied petroleum gas (LPG) beyond two months if oil prices rise further. The government’s subsidy of HK$3 (38 US cents) per litre of diesel to support public and...
Operating costs for Hong Kong's industrial and commercial sectors have jumped 50 per cent since the start of the US-Israel war with Iran, according to an oil industry representative. The government has launched a HK$1.8 billion subsidy scheme effective Thursday, providing HK$3 per litre of diesel to support public and commercial vehicles and vessels for two months. Taxi unions are calling for extension of LPG subsidies if oil prices continue rising.
Hong Kong will introduce a two-month subsidy of 50 HK cents per litre for liquefied petroleum gas (LPG) used by taxis, minibuses and school buses from May, amid soaring fuel prices. A previously announced diesel subsidy will take effect on Thursday.
Hong Kong will introduce a two-month subsidy for liquefied petroleum gas used by taxis, minibuses and school buses from May, amid soaring fuel prices. The subsidy rate will be 50 HK cents per litre, benefiting approximately 16,900 taxis, 3,440 minibuses and 170 school buses. A previously announced diesel subsidy will take effect on Thursday.
China Merchants Heavy Industry (Jiangsu) has delivered the nation's largest LNG carrier, the 180,000-cubic-metre Celsius Georgetown, marking a significant breakthrough in large-scale clean energy carrier construction. The 298.8-metre vessel is the first of six identical ships ordered by Danish firm Celsius Shipping, with the second due in three months. China Merchants Group chairman Miao Jianmin called it the group's formal entry into the 'core global camp' of large-scale LNG shipbuilders.
Porsche ha raggiunto un accordo per cedere le proprie partecipazioni in Bugatti Rimac e nel gruppo Rimac a un consorzio guidato da Hof Capital, società di investimento con sede a New York che vede tra i fondatori un rampollo della famiglia egiziana di miliardari Sawiris. BlueFive Capital, con sede ad Abu Dhabi, entrerà nel consorzio come principale investitore. A seguito del completamento dell'operazione, il gruppo Rimac assumerà il controllo di Bugatti Rimac. Bloomberg aveva calcolato un valore superiore a 1 miliardo di euro.
The surge in oil and gas prices caused by the Iran conflict has significantly narrowed the cost disparity between green and grey hydrogen, potentially accelerating the adoption of clean fuel across Asia.
Letter writer responds to Nils Pratley's column on North Sea gas, arguing that expansion cannot be justified when climate and nature risks are considered. Citing Uplift analysis showing 14 years of new licensing delivered only one month's gas demand, the author warns that further expansion poses systemic risks to food security, economic stability and national security.
World Vision officials report that Pacific Island communities dependent on boat transport are facing challenges bringing food supplies to outlying centres, with transport to clinics becoming financially unreachable for some. People are skipping medical appointments and missing life-saving HIV and tuberculosis medicines. Data shows Pacific Island nations are the most diesel-dependent for power generation worldwide, with diesel fuelling more than half of electricity output in 2022.
