German energy giant E.ON expects electricity and gas prices to continue climbing over the long term as a result of ongoing tensions in the Middle East, according to senior company officials.
European gas prices have surged following rising tensions in the Middle East, as failed ceasefire talks between Iran and the US unsettle global energy markets.
deVere Group CEO Nigel Green warns that closing the Strait of Hormuz would trigger a sharp oil price surge beyond previous spikes and cause intensified market volatility as blockade risks become more plausible.
An Irena policy advisory highlights renewables’ role in strengthening energy security and resilience amid the energy crisis, noting record growth, major cost declines, reduced fossil fuel dependence, and the rise of affordable firm renewable power.
Masar Petroleum announced a Block 7 discovery at Hasirah Ridge in Oman after drilling a new well, validating a 5km-wide, 30km-long geological trend and unlocking potential resources of 100–380 million barrels.
Two of Norway’s offshore companies, GoSubsea and Envirent, have announced a strategic partnership that combines technical expertise with expanded service offerings.
Econowind, a Dutch specialist in wind-assisted ship propulsion, is expanding into the deepsea market with the launch of its new 5-series VentoFoil.
TotalEnergies EP Congo (63.5 per cent, operator) announces a hydrocarbon discovery on the Moho license, offshore of Congo, following the drilling of the MHNM-6 NFW exploration well targeting the Moho G structure.
Iran expects to restore most damaged refining and distribution facilities to 70–80 per cent of their pre-attack capacity within one to two months, a senior oil official said, as authorities work to recover from a wave of strikes on energy infrastructure.
Kuwait has raised the official selling price for Kuwait Export Crude to Asia in May to $17 a barrel above the average of Oman/Dubai quotes, a price document reviewed by Reuters showed.
