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petroleum

Fears of fuel shortage in Pakistan as tankers wait to fill up

Fears of fuel shortage in Pakistan as tankers wait to fill up

Tanker drivers in Pakistan said they were facing long waits at depots due to a shortage of fuel, as the government played down fears of another rise in prices. The US-Israeli war with Iran has disrupted shipping and damaged oil and gas facilities in the Middle East, raising global

U.S. energy agency ups forecast of American oil and gas output

(The Center Square) – The war in the Middle East will lead to significantly more production of crude oil and natural gas in the U.S. during the next two years along with relatively stable gasoline prices for American consumers, according to the latest market assessment by the U.S. Energy

Oil prices dive as IEA eyes emergency release with Hormuz Strait in focus

Oil prices dive as IEA eyes emergency release with Hormuz Strait in focus

Crude prices sank and equities mostly rose Tuesday as oil-importing countries discussed a possible stockpile release while monitoring the Strait of Hormuz, a key petroleum waterway emptied of traffic as the Middle East war rages. International oil benchmark, Brent North Sea crude, plunged 11.3 percent to $87.80

ExxonMobil redomiciling legal headquarters from NJ to Texas

New Texas Business Court, regulatory framework cited as major reason

UN warns Hormuz standstill will hit world's most vulnerable

UN warns Hormuz standstill will hit world's most vulnerable

The standstill in the Strait of Hormuz caused by the Middle East war could hammer some of the world's most vulnerable people, the United Nations warned Tuesday. The strait is the only sea passage from the Gulf towards the Indian Ocean, through which nearly a quarter of the

Oil crisis: Is world better placed than in 1973?

Oil crisis: Is world better placed than in 1973?

Ten days after the first American and Israeli strikes against Iran, oil prices have cooled slightly after soaring above $100 a barrel. Even if they risk rocketing once more because of ongoing military action, the situation remains very different compared with the oil shock of 1973. AFP looks at why:

Egyptians feel Iran war shockwaves as fuel prices jump

Egyptians feel Iran war shockwaves as fuel prices jump

Egyptians watched their everyday costs surge on Tuesday after the government raised fuel prices, blaming spiralling global energy markets due to the US-Israeli war on Iran. Hours after price hikes of up to 30 percent were announced in the middle of the night, a Cairo market bustled with buyers