Azerbaijani leader Ilham Aliyev wants the European Union to ease regulatory hurdles and improve financing conditions to enable an expansion of natural gas exports. But recently published data raises doubts about whether Azerbaijan can meet a commitment of exporting 20 billion cubic meters (bcm) of gas annually to the EU by 2027. Azerbaijani gas exports are now trending in the wrong direction, according to data published by Bruegel, a Brussels-based think tank dedicated to improving “the quality of economic policy with open and fact-based…

French officials have praised talks held between key European countries, Ukraine, and the United States, the first involving the three sides since US President Donald Trump took power, as they look to end Europe's largest conflict since the end of World War II. Until the gathering in the French capital on April 17, US officials had taken negotiating tracks -- one between the United States and Ukraine and one between Washington and Moscow -- that appeared to leave Europe on the sidelines. French Foreign Minister Jean-Noel Barrot said that was no…

France is discovering the hard way that having too much of a good thing—say, electricity—isn’t always cause for celebration. The country’s grid operator, RTE, has issued a sharp-tongued warning to power suppliers and traders who’ve been flouting basic rules and fanning an already toasty power glut. In a letter dated April 11, RTE called out near-daily breaches that are throwing the country’s energy balance into chaos and triggering pricey emergency measures. Why the drama? Picture a grid groaning under a tidal…

The Biden offshore era is officially in the rearview mirror. On Friday, Interior Secretary Doug Burgum kicked off the long march toward America’s 11th National Outer Continental Shelf (OCS) Oil and Gas Leasing Program—a sprawling, bureaucratic saga that ultimately decides where and when offshore drilling can happen. The process begins with a simple Request for Information (RFI) from the Bureau of Ocean Energy Management (BOEM), opening a 45-day public comment window. Expect everyone from oil majors to angry seagull lobbyists to weigh…

Iraq’s crude and oil product exports fell by 110,000 barrels per day (bpd) from a year earlier to 3.7 million bpd in the first quarter of 2025, per data from Energy Research Unit cited by Shafaq News. The 3% drop in exports came as OPEC’s second-largest producer continues to restrict oil production as part of the OPEC+ agreements. Iraq, however, has not complied yet with its oil production quota under the deal—in fact, it has been overproducing above its ceiling for years and has been one of the producers with the most overproduction…

Iraq’s crude and oil product exports fell by 110,000 barrels per day (bpd) from a year earlier to 3.7 million bpd in the first quarter of 2025, per data from Energy Research Unit cited by Shafaq News. The 3% drop in exports came as OPEC’s second-largest producer continues to restrict oil production as part of the OPEC+ agreements. Iraq, however, has not complied yet with its oil production quota under the deal—in fact, it has been overproducing above its ceiling for years and has been one of the producers with the most overproduction…

The cost of shipping Russian crude from its ports in the Baltic Sea to India has dropped this month as the price of Russia’s flagship crude grade, Urals, slid in early April to below the G7 price cap, which increases the availability of tankers. The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling. The price of Urals dipped below $60 per barrel earlier this month as international benchmarks crashed…

The cost of shipping Russian crude from its ports in the Baltic Sea to India has dropped this month as the price of Russia’s flagship crude grade, Urals, slid in early April to below the G7 price cap, which increases the availability of tankers. The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling. The price of Urals dipped below $60 per barrel earlier this month as international benchmarks crashed…

The cost of shipping Russian crude from its ports in the Baltic Sea to India has dropped this month as the price of Russia’s flagship crude grade, Urals, slid in early April to below the G7 price cap, which increases the availability of tankers. The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling. The price of Urals dipped below $60 per barrel earlier this month as international benchmarks crashed…

The cost of shipping Russian crude from its ports in the Baltic Sea to India has dropped this month as the price of Russia’s flagship crude grade, Urals, slid in early April to below the G7 price cap, which increases the availability of tankers. The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling. The price of Urals dipped below $60 per barrel earlier this month as international benchmarks crashed…

The cost of shipping Russian crude from its ports in the Baltic Sea to India has dropped this month as the price of Russia’s flagship crude grade, Urals, slid in early April to below the G7 price cap, which increases the availability of tankers. The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling. The price of Urals dipped below $60 per barrel earlier this month as international benchmarks crashed…

Oil prices are set to post a weekly gain for the first time in three weeks, although demand concerns continue to loom as the U.S.-China trade war escalates. Friday, April 18th, 2025 As the Western hemisphere wound down trading activity with the onset of the Easter holidays, crude oil markets have posted an impressive 7% week-on-week rise, with ICE Brent now back at $68 per barrel. New OPEC+ compensation quotas, tighter US sanctions on Iran, and relatively upbeat March macro data have all boosted sentiment in the short term, although further…

At least 58 people were killed in U.S. air strikes on a fuel port in Yemen, Houthi-run Al-Masirah TV said on Friday, in what could be the deadliest U.S. attack in Yemen since U.S. President Donald Trump ordered strikes on targets of the Iran-aligned rebels a month ago. In the middle of March, the U.S. began air strikes on Houthi targets in Yemen, with the U.S. Department of Defense stating the attacks would continue until the Houthis stop attacking ships traversing the Red Sea. The U.S. Central Command said on Thursday about the attack that “The…

At least 58 people were killed in U.S. air strikes on a fuel port in Yemen, Houthi-run Al-Masirah TV said on Friday, in what could be the deadliest U.S. attack in Yemen since U.S. President Donald Trump ordered strikes on targets of the Iran-aligned rebels a month ago. In the middle of March, the U.S. began air strikes on Houthi targets in Yemen, with the U.S. Department of Defense stating the attacks would continue until the Houthis stop attacking ships traversing the Red Sea. The U.S. Central Command said on Thursday about the attack that “The…

BP has suffered a huge rebellion from its shareholders as the London-listed oil giant’s annual general meeting faces scrutiny of its environmental policy. Nearly a quarter voted against the re-election of outgoing chair Helge Lund at the firm’s annual general meeting. as conflict swirls over BP’s decision to cut back on climate goals. Chief executive Murray Auchincloss has faced mounting pressure to turn around the company’s struggling share price and in February announced plans to pivot back to oil and gas. Lund played…

Crude oil futures logged their first weekly gain in three weeks, lifted by a fresh round of U.S. sanctions on Iran, stepped-up output discipline from OPEC producers, and improved U.S. export flows. In a holiday-shortened trading week, West Texas Intermediate (WTI) settled at $64.01 per barrel on Thursday, up $3.15, or 5.18%, for the week. Brent crude saw a similar percentage gain, with both benchmarks bouncing off multi-week lows on supply-side catalysts. U.S. Sanctions on Iran Reignite Supply Risk Premium The most impactful development this week…

Despite the 2020 ceasefire, recent armed mobilizations in and around Tripoli have raised fears of renewed violence. In the south, efforts to restructure the Libyan National Army (LNA) have led to deadly clashes. The country remains divided between rival administrations, with political struggles fueled by competition for economic resources and fragmented institutions lacking a unified budget For the last few years, the clan of General Haftar (controlling the east from Benghazi) and infinitely interim prime minister Djebeba (controlling the west…

Politics, Geopolitics & Conflict Hints that German and French energy firms might resume Russian gas imports mark more than just economic desperation—they signal Europe's quiet recalibration of strategic autonomy. With U.S.-EU ties fraying under Trump-era foreign policy shifts and Qatar LNG talks going nowhere, some EU players see Russian gas as a necessary evil to preserve industrial competitiveness. While publicly committed to decoupling from Moscow, Berlin and Paris may be preparing for a "cold peace" in Ukraine that allows for limited…

For the last month and a half or so, the pieces I have written here have been focused on my prediction that stocks and energy commodity prices would go through a rough patch, and on how to deal with that. I still believe that stocks could move lower still, but crude seems to have found a bottom at around $60 for now. That, and the fact that energy has attracted some interest as a safe haven sector as more adventurous areas such as tech have led the market down, has resulted in energy beginning to outperform over the last few days. However, the…

The United States will abandon efforts to broker a Russia-Ukraine peace agreement if progress isn’t made very soon and unless clear signs emerge that a deal can be reached, U.S. Secretary of State Marco Rubio said on Friday. “We're not going to continue with this endeavour for weeks and months on end. So we need to determine very quickly now, and I'm talking about a matter of days whether or not this is doable in the next few weeks,” Secretary Rubio said. Rubio held meetings in Paris with European and Ukrainian leaders to discuss…