Middle East
Chinese refiners delay projects with Middle East oil supply disrupted
The delays come as the Iran conflict has crunched refiners' margins, with the Middle East oil supply disruption driving up crude prices, while they face state fuel price caps. At the same time fuel demand has weakened due to electric vehicle growth.
Kuwait can restore 70% of oil output in 6–8 weeks of Hormuz reopening, KPC executive says
Kuwait's timeline for its production recovery is shorter than some forecasts for a full reopening of transits through the Strait of Hormuz.
Not everybody is a loser from the Iran war—just ask Brunei
The focus from the Iran conflict has largely been on the increasing cost the world is having to pay through higher crude oil and natural gas prices resulting from the effective closure of the Strait of Hormuz.
Oil market clock is ticking as supply crunch looms
Before the conflict began on February 28, few experts anticipated that Iran would actually shut down the Strait. Almost no one thought the obstruction would stretch into months.
- Technip Energies secures major contract for Coral Norte floating LNG project in Mozambique 6/11
- Honeywell introduces Experion Cognition to deliver autonomous control room operations for Borouge International 6/11
- ABB expands non-invasive sensing portfolio to advance simpler and safer temperature measurement 6/11
- Bayer hopes to speed up biofuel feedstock plan amid Iran war energy crunch 6/11
- Utility Global signs first commercial project agreement in South Korea for H2Gen Project in Daejeon 6/10
- ENGIE and European Energy start cooperation on large-scale renewable hydrogen development in Denmark 6/10
