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Business

Syria resumes oil exports after 14 years, with 600,000 barrels a day

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Europe News

Poland discovers one of Europe's largest oil deposits in a decade

The Wolin East 1 well is estimated to hold 22 million tonnes of crude oil and 5 billion cubic metres of natural gas, with the broader concession potentially containing even more.

Iraq

Drone attacks salvo strikes multiple oil fields in Iraqi Kurdistan

Three oil fields in Iraqi Kurdistan were targeted by explosive drones on Wednesday, causing material damage without casualties.

Markets

Israel Iran conflict highlights Asia's dependence on Middle East oil

A blockade of the Strait of Hormuz could affect a number of Asian countries, making renewable energy capacity a crucial guard against volatility.

Business

Shell says it’s not in talks to acquire BP as takeover rumours swirl

BP’s share price jumped on the speculation that it could be acquired by Shell, following a report in the Wall Street Journal.

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Europe in Motion

How crucial is the strait of Hormuz to the global energy market?

Although Israel and Iran's ceasefire which came into force on Tuesday removed the pending threat of the Strait of Hormuz's closure, this is not the first time that Iran has said it would block it.

Markets

Oil price drops, shares jump as Trump announces Israel-Iran ceasefire

Stocks rose and oil prices fell on Tuesday after President Trump said Israel and Iran had agreed to a ceasefire.

Markets

The dollar sees a rebound after US strikes Iran, but can it continue?

The greenback may rise further if Iran decides to block the Strait of Hormuz, while the value of safe-haven alternatives like the euro and the yen are predicted to slide.

No Comment

Indigenous protest as Brazil sells Amazon oil blocks

Indigenous groups and environmental activists rallied in Rio de Janeiro on Tuesday as Brazil auctioned off oil blocks near the ecologically sensitive Amazon River mouth.

Markets

Oil prices surge, Europe’s markets open lower on Israel Iran strikes

Israel launched strikes targeting Iranian nuclear facilities, which killed top officials according to Iranian state media — including Revolutionary Guard chief Hossein Salami.

Europe News

Can the EU lower the cap on Russian oil without the US?

The US has so far refrained from endorsing a lower price cap on Russian oil, prompting the question of whether the EU can dare to go it alone.

East-West Connect

Kazakhstan’s rising oil output boosts its role as global producer

In partnership with MDQ

Kazakhstan is ramping up oil output, led by increased production at its giant Tengiz oilfield. Now supplying nearly 2% of the world’s crude, the country is becoming a key player in the global energy market.

Europe News

Europe's long battle against Russia's 'shadow fleet' is far from over

The EU has imposed several rounds of sanctions against Russia's infamous "shadow fleet". But is there more to be done?

Europe News

Von der Leyen rules out return to Russian fuels after the war

"Dependency on Russia is not only bad for our security, but also for our economy," Ursula von der Leyen told the European Parliament.

Europe News

MEPs urge Greek PM to crack down on Russia's shadow fleet

Selling old ships to Russia is a "completely irresponsible business practice", a group of MEPs has told the Greek prime minister.

Markets

Oil prices jump in response to Trump’s Venezuela tariff threats

Crude oil prices jumped following US President Donald Trump’s announcement that he would impose 25% tariffs on Venezuela’s oil buyers. The West Texas Intermediate (WTI) futures at NYNEX rose 11% and the Brent futures at ICE were up 6.7% since their lows on 5 March.

Europe News

Is Trump elbowing the EU aside as he grabs Ukraine’s mineral wealth?

Kyiv signed a raw materials deal with the EU just months before Russia invaded three years ago – but now the US is making access to the same mineral resources a condition for continued support to the battle-weary nation.

Business

BP scraps renewables target, returns to oil and gas in strategy reset

The move comes in response to pressure from investors, notably from activist hedge fund Elliot management.

Business

BP expected to scrap renewables targets as part of performance reset

Renewable output is set to become less of a priority, while the pledge to reduce oil and gas output may be officially abandoned.

Green News

Brazil’s Lula backs new oil exploration ahead of UN climate summit

The President said Brazil can’t ignore the wealth beneath its feet and choose not to explore it.

Europe News

Nordics and Baltics ask EU to tighten price cap on Russian oil

Denmark, Estonia, Finland, Latvia, Lithuania and Sweden have demanded a revision of the price cap on Russian seaborne oil. The cap was set in late 2022 at $60 per barrel and has remained untouched since then.