economics
Shell profit more than doubles to $9.8 B, second-highest on record, as Iran war lifts prices
Profit of $9.8 B vs expectations of $8.9 B, $4.3 B year ago Share buybacks kept at $3 B for next quarter Highest profit, operating cashflow since 2022 Shell's net profit more than doubled from last year to $9.84 B in the second quarter, beating expectations, helped by higher energy prices..
Greece-based Dynagas allowed to carry Russian LNG under new EU sanctions
The deal, which is yet to be approved by the EU envoys on Thursday, would allow companies from the bloc to continue transporting Moscow's LNG exports to third countries for a 12-month period that could be renewed. However, volumes would be capped at 2025 levels.
TotalEnergies silent on Russian decree approving sale of Arctic LNG 2 stake
Media has identified two Russian-registered entities named Nordline LLC, both linked to private Russian LNG producer Novatek, the majority owner of Arctic LNG 2, but could not confirm which one might be specified in the decree.
Greece says EU sanctions against Russia risk ceding LNG market share to rivals
European Union envoys failed on Wednesday to agree on a 21st package of sanctions against Russia for its war on Ukraine, as a group of countries including Greece and Austria objected to the package, for different reasons.
Japan utilities welcome LNG power auction quotas, citing investment certainty
A 2025 report by the Organisation for Cross-regional Coordination of Transmission Operators estimated Japan could face a 16 gigawatt power shortfall by 2040 if electricity demand rises to 1,100 TWh, even after replacing all the country's ageing thermal power plants.
Asian spot LNG prices at 4-month high as U.S.-Iran conflict intensifies
The fundamental situation in Asia is still relatively tight given the development of an El Nino weather pattern, higher cooling demand and lower hydro availability throughout the region.
Inpex's Australian LNG workers back pay deal that could set industry standard
The agreement is the first in what unions describe as a second wave of bargaining across the sector, as they seek similar pay and conditions in upcoming negotiations with Shell, Chevron and Woodside Energy.
U.S.-Iran war still trails the 1979 oil shock by total losses
Unlike previous crises, the Iran war has simultaneously disrupted crude oil, natural gas, refined fuels and fertilizer supplies, exposing vulnerabilities created by decades of rising energy demand, globalized trade and the Middle East’s growing role as a supplier of finished fuels.
XRG acquires additional equity interest in Trains 4 and 5 of the Rio Grande LNG project (U.S.)
Advancing XRG’s global gas strategy through resilient infrastructure investment XRG now holds interests across all five trains currently under construction at the 30 MMtpy Rio Grande LNG project The United States is a core region for XRG’s global investment portfolio XRG has completed the acq..
Indonesia to cap price of regasified LNG for some industries
The government will cap LNG-based gas prices at $13 per million British thermal units (MMBtu) from the current level of $20.57 per MMBtu for users.
U.S. natgas prices hit 20-week high on LNG flows, heat outlook
U.S. natural gas futures edged up about 1% to a 20-week high on Friday, supported by increased flows to liquefied natural gas export plants and forecasts for hotter weather in coming weeks that should boost power demand for air conditioning.
JERA sees LNG prices staying firm as Qatar repairs drag on, Europe rebuilds stocks
JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power, is Japan's largest LNG buyer and top power generator.
EU Commission clarifies all Russian LNG trade is banned from 2027 for EU operators
While the European Union voted to stop importing Russian gas by 2027 in response to Moscow's war with Ukraine, several EU-based companies holding long-term contracts for Russian LNG have said those rules, coupled with sanctions against Russia, were unclear about whether firms would be able to divert those cargoes to buyers outside the EU.
Asia spot LNG at four-month low as Hormuz flows restart, upside risk remains
Iran said it would waive Hormuz transit fees during a 60-day negotiation period with the United States, while requiring ships to request passage 48 hours in advance.
The Hormuz shock didn’t break Europe's gas market—time might
The near-total closure of the Strait of Hormuz following the outbreak of the U.S.-Israeli war with Iran halted nearly 20% of global liquefied natural gas trade, sending Asian and European gas prices sharply higher.
Opinion: Is the Iran war just an energy shock—or a turning point?
At least 1 billion barrels of crude oil and refined products have been lost from Middle East producers such as Iraq, Kuwait, the United Arab Emirates and Iran itself. As much as 20% of global liquefied natural gas supply is also trapped in the narrow waterway between Iran and Oman.
Update: Inpex shuts one LNG train at Australian Ichthys plant due to strike
The closure of Australia's third-largest LNG plant is likely to hit exports and comes as global LNG supplies have tightened after the U.S. and Israeli war with Iran reduced supplies from the Middle East.
European gas prices steady on U.S.-Iran peace deal
Shippers in Asia and Europe said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild and navigation will only restart once safety is assured.
EU proposes 21st package of sanctions against Russia, targeting banks, refiners, traders, LNG
The EU has proposed a 21st package of sanctions against Russia for its war in Ukraine, heavily targeting the country's banks and crypto networks as well as drone production, oil traders and refiners.
U.S. natgas futures rise as hotter weather boosts demand, some spot prices negative
U.S. natural gas futures edged up about 1% on Tuesday with forecasts for hotter weather than previously expected over the next two weeks boosting demand in mid-June, and a slow decline in output in recent days.
Asia spot LNG rises on stronger demand, risk of supply disruptions
Asia spot liquefied natural gas prices rose this week on stronger demand from China and India, and amid supply disruption risks linked to industrial action in Australia and reduced output from maintenance activity elsewhere.
Price rise as Iran war hostilities flare, LNG supply tightens
Dutch and British wholesale natural gas contracts rose on Wednesday morning as fresh strikes in the Gulf cloud the outlook for any peace deal and the reopening of the Strait of Hormuz and as a strike in Australia could curb global liquefied natural gas (LNG) supply further.
Putin approves sale of TotalEnergies' 10% stake in sanctioned Arctic LNG 2 project
If finalized, the French oil major would still hold an indirect stake in the project, as it owns 19.4% of private Russian liquefied natural gas company Novatek.
Unions threaten to stop Inpex Ichthys LNG loadings from next week
Workers began a limited strike on Tuesday at Inpex's Ichthys liquefied natural gas facilities in Australia over a wage dispute, and their unions threatened much broader action next week that could disrupt LNG production and loadings.
IEA: Natural gas spending to hit 10-yr high in 2026 as oil investment falls
As global energy markets remain disrupted by the Iran war, which has halted tanker traffic through the Strait of Hormuz and caused production stoppages across the Middle East, companies are accelerating investment in other geographies and boosting spending on renewables, LNG and coal to shore up supply security.
Russia's pipeline gas exports to Europe up 3% in May year-on-year
Turkey is the only transit route left for Russian gas to Europe after Ukraine chose not to extend a five-year deal with Moscow that expired in January 2025.
Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia
Eni signed three long term agreements with the LNG sellers of South Hub and North Hub gas projects, both operated by Eni with a material participating interest averaging in excess of 80% across the 2 hubs, for the purchase of liquefied natural gas in Indonesia. These contracts further strengthen Eni..
Asia LNG prices hit 7-week high as demand rises and Iran conflict stirs risk
Asia spot liquefied natural gas rose this week to its highest level in seven weeks as stronger early summer demand and supply risks tightened availability and geopolitical uncertainty around the Iran conflict keeps markets on edge.
Opinion: Australia's LNG industry worries it will miss the huge opportunities from Iran war
Senior industry executives speaking at the annual Australian Energy Producers (AEP) conference this week were all singing from the same song sheet, repeatedly hammering their view that Australia needs to get its policy settings correct in order to restore confidence and spur renewed investment.
Russia faces lower LNG revenue as shift to Asia doubles costs
The European Union plans to fully phase out Russian LNG imports from the beginning of 2027 as part of its sanctions pressure on Moscow over the war with Ukraine.
- U.S. natgas prices hit 20-week high on LNG flows, heat outlook
- Baker Hughes’ fuel flexible NovaLT™ 16 gas turbine certified by RINA for marine propulsion
- Commonwealth LNG FID attracts global syndicate of leading banks
- Dozens injured, 18 missing after blast during restart at giant Qatar LNG site
- U.S. natgas futures rise as hotter weather boosts demand, some spot prices negative
