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Shell Addresses BP Merger Speculation
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Shell said on Thursday it hasn’t actively considered an offer for BP and has no intention of making such a bid, after a media report earlier this week rekindled speculation about a giant energy tie-up of the two UK-based rivals. On Wednesday, BP shares jumped by nearly 7% before paring the bulk of those gains after The Wall Street Journal reported that Shell is in early-stage discussions to acquire its British rival. Shell on Wednesday dismissed the Journal’s report as “market…
Why Wind and Solar Alone Can't Meet Rising Energy Needs
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Global energy demand rose by 2% last year with all sources of energy seeing upticks, the Energy Institute said in the latest edition of its annual Statistical Review of World Energy, previously compiled by BP. Oil, gas, and coal consumption increased modestly, at 1%, with oil demand specifically falling in China, by 1.2%. Global bas demand, however, expanded by 2.5%, the Energy Institute reported, while India saw a substantial increase in coal demand. Now, the subcontinent consumes as much coal as the former Soviet Union, now known as the Commonwealth…
U.S. Eases Ethane Export Rules for China
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The United States has lifted a restriction on exports of ethane, a petrochemical feedstock, to China, but only under certain conditions, Reuters has reported, citing an unnamed source and a letter sent by the government to the two largest exporters, Energy Transfer, and Enterprise Products. China is the largest importer of U.S. ethane, produced in abundance thanks to the surge in natural gas output from the shale patch. The country imports about 50% of total U.S. ethane exports, or close to 250,000 barrels daily. This changed after President Trump…
U.S. Utility-Scale Battery Storage Has Surged 15-Fold Since 2020
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For years, battery systems have only played a marginal role in U.S. electricity networks, with power utilities focusing more on building out capacity from natural gas plants and renewable energy sources. According to energy data portal Cleanview, five years ago, the United States had 74 times more wind farm capacity and 30 times more solar capacity than battery capacity within its power generation system. However, steady cost declines coupled with rising energy density levels have encouraged utilities to ramp up their battery installations, with…
Enbridge Looks to Raise Canada’s Oil Flows to U.S. via New Pipeline
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Rising Canadian oil production and continued demand for more shipping capacity at the key U.S. refining hubs have prompted Canada’s pipeline giant Enbridge to test interest from potential shippers for a new pipeline in Illinois linked to the Mainline system. Enbridge is considering raising the crude shipment capacity from Canada to the United States via the pipeline that could boost oil flows by 200,000 barrels per day (bpd). Enbridge and its partner Energy Transfer are gauging potential shippers’ interest in an open season until mid-July…
Europe’s LNG Gamble Exposed by Middle East War
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Oil and the security of its supply have stolen the media spotlight in the context of the new Middle East war, and with good reason. Ever since Israel first bombed Iran, diesel prices have soared, jet fuel prices have soared, and importers have been troubled. For Europe, the situation is even worse due to natural gas. Europe has been hurt more than others by the diesel price surge because it has boosted its imports considerably over the past years. About 20% of the diesel Europe consumes comes from imports, and a lot of these imports come from the…
Russia Looks to Challenge U.S. Influence in Mexico’s Energy Sector
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Via Metal Miner Amidst the tariff wars, are we about to see the birth of new energy dynamics in the Americas? A few days ago, Russia offered to supply liquefied natural gas to the United States’ neighbor, Mexico. Because of the strategic, economic and geopolitical implications, the move quickly made sector analysts sit up and take note Media reports quoted Russia’s Energy Minister, Sergei Tsivilev, as saying that the country was already working with Mexico in other sectors. Now it was offering to share its liquefied natural gas technologies…
What Would Happen if the Strait of Hormuz Shut Down?
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There are several important energy chokepoints around the world, but none is more significant and vulnerable than the Strait of Hormuz. Now, following the U.S. bombing of Iranian nuclear facilities on Saturday, the Iranian Parliament has reportedly voted to close this important energy transit chokepoint. Such a move could severely disrupt the world’s energy markets. While the final decision still rests with Iran’s Supreme National Security Council–and Iran has failed to follow through on previous threats to close the Strait–the…
Israel-Iran Conflict Was a Boon for Coal
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In a world scrambling to wean itself off coal, the black rock might just be staging a comeback—thanks to a war halfway across the globe. Oil and gas prices pulled back sharply on Tuesday after U.S. President Donald Trump called for a ceasefire between Iran and Israel, a day after the United States Air Force and Navy attacked three nuclear facilities in Iran. Iranian President Masoud Pezeshkian says Tehran is ready to respect the truce as long as Israel does not break it, with the two sides accusing each other of continuing attacks. Brent…
China Launches Phase 2 Deep-Sea Gas Field Adding 4.5BCM To Supply
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China National Offshore Oil Corporation (CNOOC) has fully launched the second phase of its Deep-Sea No. 1 natural gas project in the South China Sea, boosting domestic output by 4.5 billion cubic meters (bcm) per year. The project, China’s largest deepwater gas development to date, officially reached full capacity on June 26, according to CNOOC officials cited by China Daily. With total geological reserves exceeding 150 bcm, Deep-Sea No. 1 is seen as a cornerstone of China’s efforts to strengthen energy security and reduce reliance…
Armenia Faces Mounting Pressure Due to Middle East Unrest
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It is too early to say whether an uneasy ceasefire between Iran and Israel will hold, granting Armenia a reprieve from the ominous strategic implications of the conflict. With the prospect of continued war hanging over Tehran, Armenia may find itself cut off from a crucial trade outlet, as well as have a weakened ability to resist Russian and Azerbaijani diplomatic pressure on issues with significant implications for Armenian sovereignty. Prior to the start of the Iranian-Israeli conflict on June 13, Iran could be considered Armenia’s sole…
BP Stock Sees Brief Jump on Report of Merger Talks With Shell
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BP shares jumped nearly 7% Wednesday before paring the bulk of those gains after The Wall Street Journal reported that Shell is in early-stage discussions to acquire its British rival. If confirmed, the deal would represent one of the largest energy mergers in recent history and signal a dramatic consolidation of European oil and gas majors. Shell, in the meantime, denied that takeover talks are taking place. A Shell spokesperson told the FT that “This is further market speculation. No talks are taking place,”who added that the company…
Tariffs Will Hit These Car Brands the Hardest
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Tariffs on imported goods can have a wide ripple effect on prices, especially in the auto industry where supply chains are global, complex, and highly sensitive to cost changes. In this graphic, Visual Capitalist's Marcus Lu reveals how tariffs will impact U.S. car prices, assuming a flat 25% tariff is applied onto vehicles imported from outside North America. Data & Discussion The data for this visualization comes from Insurify, which projected price increases for various car brands based on their exposure to overseas manufacturing and parts.…
Shuttered Three Mile Island Nuclear Plant Poised for 2027 Restart
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Constellation Energy announced Tuesday it is accelerating plans to restart Unit 1 of the Three Mile Island nuclear plant by 2027, as mounting power demand and evolving energy policy breathe new life into the once-retired facility. The proposal could make Three Mile Island the first U.S. nuclear plant to resume operations after decommissioning, a powerful symbol amid renewed bipartisan support for nuclear power. Speaking to reporters and regulators, Constellation CEO Joseph Dominguez emphasized the grid’s growing need for clean baseload electricity,…
New York to Become a Major Nuclear Power Hub
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The U.S. is investing heavily in a future in nuclear power, through the development of new conventional reactors and power plants, as well as small modular reactors (SMRs). While several states with nuclear plants plan to expand operations in the coming decades, to help deliver more clean power, one area that has big plans for new nuclear power projects is New York. This month, New York’s Governor Kathy Hochul announced plans to develop an advanced nuclear plant to provide reliable, clean electricity. The U.S. has developed a strong…
Russia to Boost Exports of China’s Favorite Russian Crude in July
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Russia is set to raise the shipments of the ESPO Blend crude from its Far East port of Kozmino in July, after lower exports this month due to maintenance, trading sources told Reuters on Wednesday. ESPO loadings from Kozmino are expected at 4 million tons, or about 970,000 barrels per day (bpd) in July, up from 3.6 million tons in June. According to Reuters calculations, daily exports of ESPO from Russia’s Far East, predominantly to Chin,a are set to rise by 7.5% in July compared to June, which is a day shorter. Going forward, ESPO crude…
Oil Jumps on Significant Crude, Product Inventory Slide
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Crude oil inventories in the United States fell by 5.8 million barrels during the week ending June 20, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The drop brings commercial stockpiles to 415.1 million barrels, roughly 11% below the five-year average for this time of year. Crude prices were trading up ahead of the report. The American Petroleum Institute (API) on Tuesday had estimated a 4.277-million-barrel drop for the week ending June 20 after analysts had estimated a much smaller 600,000-barrel…
Iran Votes to Suspend Cooperation with UN Nuclear Watchdog
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Iranian lawmakers have overwhelmingly voted to suspend Tehran’s cooperation with the International Atomic Energy Agency (IAEA) after the country’s nuclear sites were bombed over the weekend in the 12-day conflict with Israel. The bill, which state media reported on June 25 as passing by a 221-0 vote, will need to be approved by the constitutional watchdog, the Guardian Council. The decision to implement it ultimately lies with the Supreme National Security Council (SNSC). The SNSC is technically led by the president, but like all key…
April Price Crash Dragged Saudi Arabia’s Oil Revenues to 4-Year Low
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Saudi Arabia’s revenues from oil exports crashed in April by 21% from a year earlier – to the lowest level in nearly four years – as international oil prices dipped amid concerns about oversupply and potentially weaker global economic growth. Saudi Arabia, the world’s top crude oil exporter and leader of the OPEC+ group, saw its export revenues from oil at $16.5 billion in April, per data from the Kingdom’s General Authority for Statistics (GASTAT) out on Wednesday. The figure showed a decline of 21.2% year over year,…
Giant Leviathan Gas Field Offshore Israel Resumes Operations
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The massive Leviathan gas field offshore Israel is resuming production on Wednesday, following two weeks in which it was shut down due to the Israel-Iran conflict. Leviathan, operated by U.S. supermajor Chevron, was shut down on June 13, after the Israeli strike on Iranian nuclear sites that escalated hostilities in the region. Following the ceasefire from earlier this week, Chevron’s unit, Chevron Mediterranean Limited, received a notice from the Israeli Ministry of Energy and Infrastructures, whereby the Leviathan platform may be restarted…
China and India Cut Imports of Lower-Quality Coal From Indonesia
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The world’s biggest and second-biggest coal importers, China and India, respectively, have reduced purchases of Indonesia’s lower-grade thermal coal as lower coal prices have made higher-grade coal competitive this year. China and India have seen declines in their overall coal imports in recent months amid higher local production and an oversupply on their domestic markets. Yet, imports from Indonesia, the world’s biggest thermal coal exporter, have been falling at a faster pace compared to overall imports, officials in the industry…
Iran-Israel War Prompts China to Reconsider Russia’s Gas Pipeline Proposal
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The war between Israel and Iran has spark worry about energy supply security in Beijing, and a greater interest in the Power of Siberia 2 pipeline—a project proposed by the Russian side, on which the Chinese side has been in no hurry to make a decision. The Wall Street Journal reported the news, citing unnamed sources close to the government in Beijing. The latter has been in two minds about the Power of Siberia 2, first, because it has been hard to agree with the Russian side on things like ownership and pricing and second, because China…
EU Set to Change Subsidy Rules for Energy Costs
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National governments in the EU would soon be allowed to subsidize companies struggling with exorbitant energy costs, according to a Politico report suggesting the bloc is about to change its strict no-subsidy rules. The change will be in the form of a new clause in the EU’s guide to low-emission energy growth, dubbed the Clean Industrial Deal State Aid Framework. Said clause is about the provision of “temporary electricity price relief”, Politico, which saw a draft of the revised document, reported. The report noted that Germany…
UK Must Lower Energy Costs to Achieve Net Zero
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The UK’s government must find a way to lower energy costs if it wants to accomplish its climate change goals, a report by the Climate Change Committee said this week. The CCC is the official advisor to the government on all things net zero. “Making electricity cheaper will help people feel the benefits of the transition and speed up the uptake of clean electric technologies, such as heat pumps and electric vehicles,” the advisory body said, stopping short of suggesting how exactly this could be done. It then went on to note success…
The Permian Can’t Scale If No One’s Left to Work It
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The U.S. shale industry faces a structural shift in production and productivity while it has been grappling with a shortage of skilled workforce for years. Booming U.S. oil production may be nearing its peak, according to industry executives and forecasters, and it isn’t just because oil prices are dangerously close to breakevens. The perennial talent crunch is weighing on the US oil sector. Rising labor costs and a shrinking talent pool add to the concerns in the industry that is strongly supported by the Trump Administration to “drill,…
Iraq Accelerates This Oil Megaproject To Meet 7 Million Bpd Production Target
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Even before the latest potentially game-changing developments began involving its longtime financial, political, and military ally Iran, it was clear that Iraq needed to focus more on the independent development of its own resources -- most notably in energy -- for its future. In the weeks leading up to the Western-backed Israeli attacks on Iran, the U.S. removed the longstanding waivers that allowed Iraq to keep importing electricity and gas from its neighbour to power 40% of its grid and rolled out new sanctions aimed at cutting Baghdad’s…
US Crude Oil Inventories See Another Sharp Draw
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The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again, this time by 4.277 million barrels in the week ending June 20 after analysts had estimated a much more conservative 600,000-barrel draw. The draw adds to last week’s shockingly massive 10.133 million barrel inventory decrease. So far this year, crude oil inventories are up 3.3 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the…
Lula’s Brazil Doubles Down on Oil and Cash
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A new offshore oil auction in the Amazon, a major investment in refinery expansion, and an attempt to extract $6.2 billion from the energy industry—this may not sound very appropriate for a government that has made some big net-zero promises. Yet it is exactly what the Lula da Silva government in Brazil is doing. South America’s biggest country produces around 3.5 million barrels of crude daily. It also recently auctioned 19 blocks in the Foz do Amazonas basin, part of the Equatorial Basin and a highly sensitive ecosystem, according…
Auto Tariffs Add $2,000 to New Car Prices
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President Trump’s tariffs are hitting car buyers hard, with prices expected to rise nearly $2,000 per vehicle, according to consulting firm AlixPartners. The firm estimates that automakers will pass on 80% of the $30 billion tariff cost, adding about $1,760 per car, according to Bloomberg. “These tariffs bring a big wall of cost,” said Mark Wakefield, AlixPartners’ global auto lead. “We see consumers taking the majority of the hit.” General Motors and Ford have already projected tariff-related hits of $5 billion…
Hungary's Veto Complicates EU Enlargement Aspirations
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A day after the NATO summit in The Hague ends, EU leaders will take the short journey south to Brussels for their regular summer European Council. Kicking off on the morning of June 26, this summit may continue into the next day as there are plenty of items on the agenda -- most notably Iran, where the EU is struggling to stay relevant. According to the Brussels diplomats I have spoken with, however, the bloc still aims to act as a conduit for potential direct talks between the United States and Tehran. That said, there are also several key political…
Trump Signals Strategic Shift: China Can Buy Iranian Oil
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President Trump dropped a geopolitical bombshell: in a post on Truth?Social, he announced that "China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the US, also." This declaration signals a notable pivot from the so-called "maximum pressure" campaign Trump reinstated in February?2025, which aimed to slash Iranian oil exports to near zero. Instead, Trump appears to be leveraging this concession to coax China into importing American energy—linking geopolitical maneuvers with trade incentives. Coming…
Senate Parliamentarian Blocks Fast Track for Oil, Gas Projects
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The U.S. Senate’s top rule-keeper just threw a wrench into Republican plans to speed up fossil fuel development. Senate parliamentarian Elizabeth MacDonough has ruled that key provisions in the sweeping OBBB Act—aimed at fast-tracking oil, gas, and mining projects—can’t bypass environmental review unless they clear a 60-vote threshold. That means GOP efforts to use budget reconciliation to skirt the National Environmental Policy Act (NEPA) are dead on arrival unless they gain bipartisan support. The parliamentarian flagged…
Trump-Era Reforms Pave Way for New U.S. Nuclear Project
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New York is going to build the first major new US nuclear-power plant in more than 15 years, in what the Wall Street Journal described as "a big test of President Trump's promise to expedite permitting for such projects." Governor Kathy Hochul told the outlet that she has directed the New York Power Authority, the state’s public electric utility, to add at least 1 gigawatt of new nuclear-power generation to its portfolio - enough to power approximately one million homes. “I’m going to lean into making sure that every company…
Canada’s Oil Sands Production Set for Record High in 2025
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Despite lower oil prices, Canada’s oil sands production is expected to reach an annual all-time high of 3.5 million barrels per day (bpd) this year, thanks to optimization and efficiency at producing assets, S&P Global Commodity Insights said on Tuesday in its latest outlook. Output from Canada’s oil sands will continue to rise beyond this year, according to S&P Global Commodity Insights’ 10-year production outlook. This year, production is set for a record annual average of 3.5 million bpd, up by 5% compared to the 2024…
FTSE 100 Gains Limited by Oil Price Drop
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The FTSE 100 made minor gains on Tuesday but London’s blue-chip stocks rebound was held back by the falling price of oil. The UK’s flagship index nudged up 0.3 per cent in early trading to around 8,783. But significant gains were held back by a slump from oil giants BP and Shell. BP topped the fallers down over five per cent to near 366p while Shell was not far behind at four per cent. The oil majors had benefitted from a surge in oil prices as Middle Eastern conflict escalated and analysts had praised the firm’s for “keeping…
Former CFO of Nigeria’s State Oil Firm Arrested Over Alleged $7-Billion Fraud
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Nigeria’s Economic and Financial Crimes Commission has arrested two ex-oil officials, including the former chief financial officer of Nigeria’s state energy firm NNPC, over an alleged $7.2-billion fraud, corruption, and abuse of office. The financial crimes authorities have arrested Umar Ajiya Isa, a former CFO at NNPC, as well as Jimoh Olasunkanmi, a former managing director of the Warri refinery in Nigeria. Three other officials are being investigated, according to a statement from the commission carried by Bloomberg. The two former…
Europe Struggles To Find Diplomatic Role in Israel-Iran Conflict
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Europe is still looking for a role in the Israel-Iran conflict after it was caught by surprise following the United States’ strikes on Iran over the weekend. But it is fair to say they say there is a sense of humiliation as the American attack on various nuclear facilities in Iran came some 24 hours after the foreign ministers of the E3 (France, Germany, the United Kingdom) and the EU foreign policy chief Kaja Kallas met with their Iranian counterpart Abbas Araqhchi in Geneva on June 20. Now, those talks didn’t lead to much, not even…
Russia Considers AI Data Centers as Collapsing Gas Sales Create Glut
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Russia could use its excess natural gas to power AI data centers or crypto mining operations, Russian officials have said, as Moscow’s pipeline gas exports to Europe have collapsed and led to an oversupply at home. Russian gas supply via pipelines to Europe has slumped since 2022, after Russia cut off many EU customers from its gas deliveries, and Nord Stream stopped supplying gas to Germany, after Russia reduced flows and after a sabotage in September 2022. “Previously, half a billion cubic meters per day went through the gas pipelines…
Brent Drops Below $70 as Israel-Iran Ceasefire Holds
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Oil prices dropped dramatically after a surprisingly speedy ceasefire was agreed between Israel and Iran, although the peace remains fragile.- US electricity demand is expected to soar to levels not seen since the summer of 2013 as regional operator PJM warned of consumption potentially reaching 158 GW, with temperatures nearing 100°F.- Power demand in the US averaged 36.5 BCf/d over the weekend before skyrocketing to 47.5 BCf/d on 24-25 June, greatly slowing down the pace of US natural gas storage injections this week.- Henry Hub gas futures…
Alberta Exceeded Its Flaring Limit for Years Before Scrapping It
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Oil and gas companies in Alberta exceeded last year the Canadian oil-producing province’s self-imposed limit on natural gas flaring, for a second year running, according to estimates by Reuters. Flaring, the controlled burning of natural gas that takes place during the production and processing of gas and oil, was regulated for 20 years by a self-imposed limit on the flaring volumes—until last week. The Alberta Energy Regulator (AER) last week issued a bulletin to announce the “removal of the provincial solution gas flaring limit,”…
Alberta Expects Private Proposal for a New Oil Pipeline to B.C.
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Alberta could receive within weeks a proposal from a private company for a new pipeline from the oil-rich province to British Columbia’s northwest coast, Alberta Premier Danielle Smith told Bloomberg News in an interview published on Tuesday. A new pipeline to Canada’s northwest Pacific coast “is the most credible and the most economic of all of the pipeline proposals the private sector would consider,” Smith told Bloomberg, declining to name any companies potentially involved in the project. Earlier this month, Smith said…
Japan to Partner With Siemens to Create Wind Power Supply Chain
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Japan’s Ministry of Economy, Trade and Industry (METI) will sign a cooperation agreement with Siemens Energy to create a local supply chain for the offshore wind sector, an official at the ministry told Reuters on Tuesday. The deal will look to establish a domestic supply chain in cooperation with global wind power technology giants. As part of the cooperation agreement, Siemens Energy’s wind turbine division, Siemens Gamesa, is expected to sign a deal with Japanese electronics equipment manufacturer TDK. The Japanese firm is set to…
LNG Shipping Costs Soar to 8-Month High Amid Middle East Turmoil
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LNG shipping costs have surged to the highest in eight months as shipowners assess Middle East risks and hold off chartering vessels, reducing available ships, while price signals in Asia are favoring cargoes going to the Pacific market. Both the Atlantic and Pacific freight rates jumped on Monday to their highest levels since October 2024, but the Atlantic shipping rates were much higher, according to data from Spark Commodities cited by Reuters. Spark Commodities assessed that the daily rate for chartering the most common type of LNG carrier…
U.S. Electricity Prices Soar Amid Strong Summer Demand
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U.S. wholesale electricity prices are rising fast amid forecasts for summer heat that will drive demand higher, especially in the East. Prices in Boston topped $400 per MWh at one point on Tuesday, Reuters reported, up from $50 per MWh earlier in the day. According to grid operator PJM Interconnection, which is the largest in the country, expected demand to hit 160 GW on Monday, declining to 158 GW on Tuesday and further to 155 GW on Wednesday as the heat retreats. The Energy Information Administration predicted at the end of 2024 that electricity…
China Cuts Coal Imports on Oversupply
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China has reduced its coal imports and increased exports on ample supply of the commodity, Bloomberg has reported, citing a 13% increase in outbound coal shipments from the country in the first five months of the year. China exported 2.5 million tons of coal between January and May, with the bulk going to Japan, Indonesia, and South Korea. Coal production, meanwhile, reached 5 billion tons in the period, while imports were 8% down on the year. Record-high domestic coal production and weaker coal-fired power generation in China have resulted in…
Oil Prices Tumble on Iran-Israel Ceasefire
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Crude oil prices slumped today, following a social media statement by President Trump saying that the Iran-Israel ceasefire is now in effect, putting an end to the war that started on June 13. Israel has agreed to the U.S. ceasefire proposal, while Iran's state media has reported the ceasefire is now in effect after a final round of missiles. At the time of writing, Brent crude was trading at $68.78 and West Texas Intermediate was changing hands for $65.81 a barrel, both down by over 4% from Tuesday, when Iran responded to the U.S. bombing of its…
U.S. Oil Producers Rushed to Hedge… Just in Time
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U.S. oil producers flocked to hedge higher prices for their output for the rest of the year and early into 2026 as international crude oil prices surged earlier this month. Early on June 13 local time, Israel attacked Iranian nuclear facilities and military leadership in coordinated strikes that sent oil prices surging amid concerns that an escalating conflict could disrupt oil flows from the Middle East. On the night of June 12 and the following morning, Texas-based Aegis Hedging Solutions – a company with a platform for oil producers’…
Oil Prices Tumble as Trump Announces Iran-Israel Ceasefire
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Oil prices continue to plunge on Monday afternoon following US President Donald Trump's announcement of a tentative ceasefire between Israel and Iran, significantly reducing geopolitical risk premiums. West Texas Intermediate (WTI) crude for August delivery fell as much as 5.1% to $65.02 per barrel during early trading in Asia, marking its lowest level since before the conflict began on June 13. The announcement of a ceasefire, described by Trump on Truth Social as "complete and total," follows intense diplomatic negotiations involving the US,…
What’s Next for Iran After the U.S.-Israel Strike on Its Nuclear Sites?
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As detailed back on 11 November by OilPrice.com, one of the three key measures then-President Elect Donald Trump would take in his early days as President would be “giving the nod to Israel to do whatever it wants with Iran”. After all, following then-President Joe Biden’s flat ‘no’ on Israel striking Iran’s nuclear sites in retaliation for earlier Iranian missile attacks on Israel in early October, Trump stated: “That’s the craziest thing I’ve ever heard. That’s the biggest risk we have.…
Eni Reduces Staff at Iraqi Oilfield as Middle East Conflict Escalates
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Amid the escalating conflict in the Middle East, Italian energy major Eni has reduced the number of staff at the Zubair oil and gas field in Iraq as a precautionary measure, an Eni spokesperson told Reuters on Monday. The Israel-Iran conflict that began earlier this month took a major turn this weekend after the U.S. bombed three Iranian nuclear sites – at Fordow, Natanz, and Isfahan – and warned the Islamic Republic that retaliation against U.S. troops in the region or any other retaliation would be the worst mistake it will make.…