Economics

ACME signs 100,000-tpy green methanol offtake agreement with Mitsubishi Gas Chemical

ADNOC launches global LNG marketing and trading platform

South Korea's four oil refiners charged with price collusion

Though prosecutors did not name the companies, South Korea only has four refiners: HD Hyundai Oilbank, SK Energy, GS Caltex and S-Oil.

World absorbs historic Iran war oil supply loss, but depleted stocks bring risks

Tehran's throttling of the Strait of Hormuz in response to the U.S. and Israeli attacks launched on February 28 fed fears of a catastrophic global energy crunch.

Brazil to phase out subsidy for diesel more slowly than for gasoline, minister says

Brazil's government will take longer to phase out its diesel subsidy than the gasoline benefit, reflecting concerns the process must be handled carefully, even after the drop in global oil prices, to avoid price shocks or fuel shortages.

Chinese independent refiners snap up discounted Mideast oil as supplies rise

Gulf oil exports are gushing into Asia as producers ramp up output and exports through the Strait of Hormuz following the interim peace deal between the U.S. and Iran, depressing oil prices globally.

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.

Yara to acquire Gulf Coast Ammonia Texas (U.S.) facility for $1.3 B

Opinion: Putin's diesel export ban risks new fuel shock

The energy-dense fuel sits at the heart of global economic activity, powering heavy transport, industry and agriculture — from trucks and shipping to construction machinery and tractors.

Nigeria becomes first OPEC member to join IEA as associate member

The move adds to the IEA's network a country of more than 240 MM people that is a major oil and gas exporter but still faces severe domestic energy challenges, including limited electricity access and reliance on polluting cooking fuels.