QatarEnergy has declared force majeure on some of its long-term liquefied natural gas (LNG) supply contracts, including for customers in Italy, Belgium, South Korea and China. The move on Tuesday comes amid production and supply disruptions caused by the United States-Israeli war on Iran. Force majeure is a clause in contracts that allows a party to be […]
Oil prices dropped more than 13 percent on Monday after US President Donald Trump said he will order the military to postpone any strikes against Iranian power plants and energy infrastructure for five days. Trump’s move followed a threat by Iran to attack Israel’s power plants and those supplying US bases across the Gulf region […]
Brent crude is seen averaging $85 per barrel this year, and West Texas Intermediate could see an average price of $79, Goldman Sachs commodity analysts said in a note released Sunday. They added that the supply loss from the crisis is going to peak at 17 million barrels daily. The price update is from an […]
Saudi Arabia is slashing its crude oil exports to Asia in April, for a second month in a row, as the de facto closed Strait of Hormuz is stranding most of the supply from the world’s top crude exporter. Saudi oil giant Aramco has notified customers of term supply in Asia that they would receive […]
According to report, Tesla is in talks to purchase equipment worth about $2.9 billion from Chinese firms to build large-scale solar manufacturing capacity in the United States, as CEO Elon Musk targets up to 100 gigawatts of solar production. The development has already lifted shares of several Chinese solar companies, signalling renewed global demand for […]
Countries may tap into America’s booming liquefied natural gas exports as Middle Eastern suppliers shutter. But renewables are a safer bet in the long run. The U.S. is the world’s largest exporter of liquefied natural gas — and the war in the Middle East is about to bring massive profits to its gas producers. As the war […]
Any prolongation of the Iran war risks creating an unprecedented crisis in energy supplies that sooner or later will hit every corner of the global economy. But it is already clear that some countries are either more exposed to that impact or less able to deal with it. Here are some economies to watch. THE […]
The national debt surpassed a record $39 trillion on Wednesday, a milestone that comes just weeks into the U.S.-Israeli war in Iran. The unprecedented figure highlights competing administration priorities, from passing a massive tax law and boosting defense spending and immigration enforcement to chipping away at the debt itself — the latter of which Donald Trump promised to […]
South Korean Prime Minister Kim Min-seok met with U.S. President Donald Trump in Washington on Friday, Kim’s office said, after the National Assembly passed a special bill on its commitment to investing $350 billion in the United States. The two met briefly at the White House as the passage of the bill in Seoul on […]
In a statement, the department said the capital commitment by Rio Tinto’s subsidiary Richards Bay Minerals (RBM) reflects growing cooperation between industry, government and host communities. RBM, which is 74 per cent owned by Rio Tinto, mines mineral-rich coastal sands in KwaZulu-Natal. The operation produces zircon, rutile and ilmenite, key feedstocks used to make titanium […]