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Oil & Gas

Trackers report that Iran has adapted to maintaining oil exports in conflict.

Two vessel tracking companies said that Iran maintains crude oil supplies by loading tanks one at atime and moving floating storage closer to China. The country is trying to keep its main source of income while being attacked by Israel. The conflict that erupted between Iran and Israel last week is a new obstacle for Iran. It uses a fleet of shadow tankers to hide their origins and avoid U.S. sanctions imposed in 2018 due to its nuclear program. Iran is the third largest producer of crude oil in OPEC. Most of its exports go to China. The trackers reported...

Oil & Gas

Israel will resume natural gas exports once the military determines that it is safe, says energy minister

Israel's Energy Minister Eli Cohen announced on Wednesday that the country will resume natural gas exports once its military deems it safe. The air battle between Israel & Iran is now in its sixth day. Since June 13, two of Israel's three natural gas fields, Leviathan operated by Chevron and Karish owned by Energean, off its Mediterranean coastline that provides the bulk of the exports to Egypt & Jordan have been closed. The older leaves are still in use Field used mostly for domestic supply. Cohen stated that he had been in touch with Egpyt, Jordan and Jordan regarding the...

Oil & Gas

US withdraws from two more bases in Syria, alarming Kurdish forces

Reporters visiting the region found that U.S. troops have now withdrawn from two additional bases in northeastern Syria. This is part of a larger troop withdrawal, which, according to the commander of U.S. backed Syrian Kurdish Forces, has allowed a resurgence by Islamic State. Reporters who visited these two bases last week found that they were mostly deserted. They were both guarded only by a small number of Syrian Democratic Forces, the Kurdish led military group Washington has supported in its fight against Islamic State since a decade. The razor wire that surrounded the perimeters of the bases occupied by...

Oil & Gas

G7 needs to raise pressure on Russia, von der Leyen says

Ursula von der Leyen, President of the European Commission, said that more pressure should be applied to Russia in order to secure a ceasefire. She urged G7 nations intensify sanctions to achieve this goal. The leaders of the largest industrial countries are meeting in Canada’s Rockies, along with European nations. They want to keep the conflict in Ukraine on the minds of U.S. president Donald Trump, despite the fighting between Israel and Iran taking place in the Middle East. The European Union has decided to adopt new sanctions against Russia. However, they have not been able to convince Trump, who...

Oil & Gas

Yemen's Houthis launch ballistic missiles at Israel in coordination with Iran

Yemen's Iran aligned Houthis announced on Sunday that they were targeting Israel in coordination and coordination with Iran. This is the first time a group with an Iran alignment has publicly announced a joint attack with Tehran. In a recent televised speech, Yehya Saarea, the military spokesperson said that the Yemeni group had targeted central Israel's Jaffa in the past 24 hours with a number of ballistic missiles. He added: "This operation was coordinated along with the Iranian army's operations against the criminal Israeli enemies." Earlier, the Israeli military said that sirens had been activated in various areas of the...

Oil & Gas

How can Trump bring peace to Ukraine?

Donald Trump said that he would be meeting with the presidents from Russia and Ukraine to discuss stopping the "bloodbath" in Ukraine. What are the obstacles that the U.S. President faces when he is trying to negotiate a peace agreement with Russia and Ukraine? SECURITY GUARANTEE Ukraine, which has been subjected to a full scale invasion in 2022, and witnessed Russia annex Crimea, needs security guarantees from major powers, primarily the United States. Sources involved in the talks say that the problem is that a security agreement without teeth could leave Ukraine vulnerable. Diplomats talked about a "robust" security guarantee,...

Oil & Gas Refining

Norway Wealth Fund divests Israel's Paz Retail and Energy Due to West Bank Activities

Norway's sovereign fund, which is the largest in the world, sold all its shares to Israel's Paz Retail and Energy, because the company owns and runs infrastructure that supplies fuel to Israeli settlements on the West Bank. The Council on Ethics of the fund, which is responsible for overseeing the fund's ethical standards, had adopted a stricter interpretation in August, aimed at businesses that support Israel's activities in the occupied Palestinian Territories. In December, the first divestment took place from Israeli telecoms company Bezeq. The fund operates according to guidelines set forth by the Norwegian parliament. It is regarded as...

Oil & Gas

Norway Wealth Fund divests Israel's Paz Retail and Energy Due to West Bank Activities

The world's largest sovereign wealth fund has sold its entire stake in Israel's Paz Retail and Energy, because the company owns and runs infrastructure to supply fuel to Israeli settlements on the West Bank occupied by Israel, the fund said. The Council on Ethics of the fund, which is responsible for overseeing the fund's ethical standards, had adopted a stricter interpretation in August, aimed at businesses that support Israel's activities in the occupied Palestinian Territories. In December, the first divestment took place from Israeli telecoms company Bezeq. The fund operates according to guidelines set forth by the Norwegian parliament. It...

Oil & Gas

Trump warns Iran to give up its nuclear weapons dream or face harsh response

Donald Trump stated on Monday that he believes Iran intentionally delays a deal on a nuke with the United States. He also said Iran must give up any efforts to develop a nuclear weapon, or else face a possible strike on Tehran's nuclear facilities. Trump said to reporters that he believes the Iranians are using us as pawns. He made this statement after U.S. Special Envoy Steve Witkoff had met with a senior Iranian government official in Oman, on Saturday. Iran and the United States both said that they had "positive" and constructive" talks in Oman. The second round of...

Oil & Gas

White House warns that Iran will face a 'hell-to-pay' if it develops nuclear weapons

His press secretary warned reporters Friday, ahead of Saturday's talks between U.S.-Iran delegations. White House Press Secretary Karoline Leavitt stated that Trump's "ultimate goal is to ensure that Iran cannot obtain a nuclear weapons" and that Trump believed in diplomacy. However, she added that "all options" are available if diplomatic attempts fail. "He's made it clear to the Iranians and his team of national security will do the same, that all options were on the table and Iran had a choice. The president believes that if you don't agree with President Trump's demands, there will be hell to pay. Leavitt...

Oil & Gas

Sino-US tariffs war and rising US crude stocks cause oil prices to fall

The oil prices fell on Wednesday, as market concerns about a Sino-U.S. new trade war and rising U.S. stockpiles offset President Donald Trump’s renewed push to end Iranian crude exports. Brent crude futures fell 39 cents or 0.51% to $75.81 per barrel at 0427 GMT. U.S. West Texas Intermediate (WTI), a crude oil produced in the United States, lost 26 cents or 0.36% to $72.44. Oil traded across a range on Tuesday, with WTI dropping at one point to its lowest level since December 31, after China announced tariffs against U.S. imports for oil, natural gas liquefied and coal as...

Oil & Gas

Saudi foreign minister states Trump does not raise risk of Iran-Israel war

Saudi Arabia's. foreign minister stated on Tuesday he did not see Donald Trump's. new administration increasing the danger of an IsraelIran. dispute, attending to a problem the area has actually feared since the. start of Israel's war in Gaza. Prince Faisal bin Farhan Al Saud also stated in Davos that he. hoped President Trump's method to Iran would be consulted with a. willingness by Tehran to favorably engage with the U.S. administration and address the problem of its nuclear programme. Certainly a war in between Iran and Israel, any war in our. area is something we ought to try to...

Fossil Fuels

Fossil Fuels

What is the risk of nuclear contamination from an attack on Iran?

Donald Trump claimed that Iran's nuclear sites were "obliterated", including the Fordow deep-buried facility, in military strikes carried out overnight. The U.S. also joined Israel's attacks on June 13th. The International Atomic Energy Agency said that the U.S. military attacks on Iran's uranium-enrichment facilities posed limited contamination risks. Which Iranian nuclear sites have been hit so far? The U.S. Military struck sites in Fordow, Natanz, and Isfahan. Trump claimed that Iran's nuclear enrichment sites had been "completely obliterated". These attacks come after Israelis announced attacks on nuclear sites at Natanz, Isfahan Arak, and Tehran. Israel claims it wants to prevent...

Fossil Fuels

Israeli military claims it has killed two Iranian Revolutionary Guard Commanders

Israel Katz, Israel's Minister of Defense, said that the Israeli military killed a veteran commander from the Iranian Revolutionary Guards overseas arm in an attack on an apartment in Iran’s Qom Province. Katz stated that Saeed Izadi led the Palestine Corps, the overseas arm or Quds force. Later, the Israeli military said it had killed a second leader of the Guards overseas arm. It identified him as Benham Shariyari. The strike was carried out overnight in western Tehran. The report said that the commander was "responsible for all weapon transfers from the Iranian government to its proxies in the Middle...

Fossil Fuels

Israeli Defense Minister: Military killed the head of Palestine Corps in IRGC’s overseas arm

Israel Katz, Israel's Minister of Defense, said that the Israeli military killed a veteran commander from the Iranian Revolutionary Guards overseas arm in an attack on a Qom apartment. Katz released a statement about the veteran commander Saeed Izadi who led the Palestine Corps Quds Force. The IRGC has not confirmed this. The Quds force built up an alliance of Arab allies, known as Axis of Resistance. In 1982 it established Hezbollah and supported the militant Islamist Palestinian group Hamas. Hezbollah and the Palestinian group Hamas have both been weakened by Israeli offensives following Hamas attacks against Israel on October...

Crude Oil

Power Markets

Power Markets

Rosneft's head says OPEC+ can increase oil production by a year

Igor Sechin said that the OPEC+ group, which includes major oil producers around the world, could accelerate its production increases by a year compared to their initial plan. He said the decision of OPEC+ to increase output now looks far-sighted and justifiable in light of the conflict between Israel and Iran. In April, the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia shocked the oil markets by agreeing to a larger-than-expected increase in output for May, despite low prices and a slowing of demand. OPEC+ decided to increase prices by more than originally planned. "The...

Power Markets

Russia notes Iran's commitment towards NPT and says Israeli attacks against Iran are illegal

The Russian Foreign Ministry condemned on Tuesday the continued Israeli attacks against Iran and said that a diplomatic solution could only be reached to resolve the conflict regarding Tehran's nuclear program. The ministry posted a statement on Telegram saying that "Israel's continued intensive attacks on Iran’s peaceful nuclear sites violate international law, create unacceptable threats to the international security of the world and lead to a nuclear disaster ...,"." The report said that the widespread condemnation of Israeli action showed that Israel only found support "from states that are actually co-participants, and who act for opportunistic purposes." The Ministry noted...

Power Markets

Trump calls for Tehran's evacuation as the Iran-Israel conflict enters its fifth week

Israel and Iran attacked one another for the fifth day in a row on Tuesday. U.S. president Donald Trump called on Iranians to leave Tehran citing his country's alleged rejection of a nuclear arms deal. The White House announced that Trump would leave the Group of Seven Summit in Canada a day earlier than planned due to the Middle East crisis. Fox News reported that he would convene the National Security Council. French President Emmanuel Macron stated that Trump's early departure is positive because the immediate goal was to get Israel to agree to a truce with Iran. "Iran would...

Nuclear Power

Kremlin: Russia is willing to mediate in Iran and accept Tehran's Uranium.

The Kremlin announced on Monday that Russia is still ready to serve as a mediator between Israel and Iran. Moscow's proposal to store Iranian Uranium in Russia also remains on the table. Tehran claims it has a right to peaceful nuclear energy, but the rapid progress of its uranium-enrichment programme has sparked fears across the Gulf and the West that the country is trying to build a nuclear bomb. enriched uranium It is possible to ease the crisis by converting nuclear fuel from Iran into civilian reactor fuel. This proposal is still on the table and it is still relevant....

Power Markets

IAEA chief warns Israel against striking nuclear facilities

According to an interview that was broadcast on Monday, the chief of the International Atomic Energy Agency Rafael Grossi stated that Iranians warned him about a possible Israeli strike on Iran's nuclear facilities. This could lead Iran to become more determined to develop a nuclear weapon. Grossi stated in the interview published on the Jerusalem Post's website and broadcast on i24 TV on Sunday that a strike could have a compounding effect. It would solidify Iran's resolve - I say this plainly - either to pursue obtaining atomic weapons or to withdraw from the Treaty on the Non-Proliferation of Nuclear...

Environment

Solar stocks plunge after Trump's tax plan advances in US House

The shares of U.S. Solar companies dropped sharply after the House of Representatives passed President Donald Trump's tax and spending bill. This could end many green-energy subsides that supported the renewable energy industry. Sunrun shares fell nearly 41% early in the morning, followed by SolarEdge Technologies, Enphase Energy, and Complete Solaria. Maxeon Solar shares fell by 9%. Emeren Group shares dropped by 5.2%. JinkoSolar shares declined 4.7%. First Solar and Canadian Solar both saw their share prices drop 5.4% and 6.4%. Trump's budget plan, which he calls "one beautiful bill", would eliminate funding under the Biden Administration Inflation Reduction Act...

Power Markets

State media reports that an Iranian minister has arrived in Russia to deliver a message by Khamenei.

Iranian state media reported that Iranian Foreign Minister Abbas Araqchi arrived in Moscow on Friday to deliver to Russian President Vladimir Putin a message sent by the Islamic Republic's supreme leader Ali Khamenei. U.S. president Donald Trump has repeatedly warned Iran of bombings and secondary tariffs, if Tehran fails to reach an agreement with Washington regarding its disputed nuclear programme. The United States have also moved additional warplanes in the region. Both sides characterized the U.S.-Iran talks held in Oman at the weekend as constructive and positive. Araqchi stated on Wednesday, ahead of the second round of negotiations that will...

Power Markets

Iran's ruling class caught between Trump's repression and an economy in trouble

Iran's clerical leadership may find that engaging the "Great Satan" in order to negotiate a nuclear agreement and ease crippling economic sanctions is the lesser evil. Four Iranian officials have said that despite its deep mistrust for the United States and in particular President Donald Trump, Tehran is growing increasingly worried about public anger at economic hardships escalating into massive protests. People said that despite the defiant and unyielding rhetoric of Iran's clerical leadership in public, there was a pragmatic desire within Tehran's power corridors to strike a bargain with Washington. Tehran's fears were exacerbated when Trump revived his "maximum-pressure"...

Nuclear Power

EXPLAINER-Iran's main nuclear centers, long in Israel's sights

After Iran's rocket attack on Israel on Tuesday, there is speculation that Israel could strike Iran's nuclear centers as it has actually long threatened to do. Below are a few of Iran's main nuclear centers. HOW CLOSE IS IRAN TO HAVING NUCLEAR WEAPONS? Iran's nuclear programme is topped numerous places. While the threat of Israeli airstrikes has actually loomed for years, just some of the sites have been built underground. The United States and the U.N. nuclear watchdog think Iran had a coordinated, secret nuclear weapons program that it halted in 2003. The Islamic Republic denies ever having had one...

Power Markets

EXPLAINER-Iran's main nuclear facilities, long in Israel's sights

After Iran's rocket attack on Israel on Tuesday, there is speculation that Israel might strike Iran's nuclear facilities as it has actually long threatened to do. Below are a few of Iran's main nuclear facilities. HOW CLOSE IS IRAN TO HAVING NUCLEAR WEAPONS? Iran's nuclear program is topped many places. While the risk of Israeli airstrikes has actually loomed for years, just a few of the websites have been constructed underground. The United States and the U.N. nuclear guard dog think Iran had a collaborated, secret nuclear weapons program that it halted in 2003. The Islamic Republic rejects ever having...

Power Markets

Israel eyes usage of Musk's Starlink in event of war with Hezbollah, Calcalist reports

Israel is looking to utilize Elon Musk's Starlink to maintain Internet connectivity ought to there be a potential alloutwar with Lebanese Hezbollah on the northern border that triggers power blackouts in Israel, a newspaper report said on Tuesday. The Calcalist financial daily said that the financing and communications ministries were seeking to use Starlink's. 5,000 low-orbit satellites to guarantee steady information and info. circulation for state authorities throughout emergency situations. Both ministries did not instantly comment to . In February, Communications Minister Shlomo Karhi gave. consent to Starlink, the satellite system of SpaceX, to run. in Israel and the Gaza...

Nuclear Power

US-Saudi defense deal with civil nuclear part nears conclusion, authorities says

The U.S. and Saudi Arabia have actually reached a near final set of arrangements for a defense pact that consists of a civil nuclear part but obstacles stay for a more comprehensive regional deal that would stabilize relations between Israel and Riyadh, a senior U.S. official stated on Tuesday. The official stated the bilateral deal was more or less complete, but cautioned that particular components, including a. trustworthy path to Palestinian statehood and steps on. stabilizing war-torn Gaza, still needed to be completed. It is not done. Nobody here is going to say this is, you. understand, just right around...