The trade war is prompting China’s LNG buyers to resell the cargoes they are buying from the U.S. as Chinese tariffs on American goods are raising the costs of U.S. LNG imports, analysts and traders have told Reuters. LNG import demand in China has been weaker this year amid comfortably full winter inventories. Chinese LNG imports are expected to drop this year, according to the latest estimates from BloombergNEF. China is set to see the first annual decline in LNG imports since 2022. The trade war and the new tariffs on U.S. LNG are driving…

The trade war is prompting China’s LNG buyers to resell the cargoes they are buying from the U.S. as Chinese tariffs on American goods are raising the costs of U.S. LNG imports, analysts and traders have told Reuters. LNG import demand in China has been weaker this year amid comfortably full winter inventories. Chinese LNG imports are expected to drop this year, according to the latest estimates from BloombergNEF. China is set to see the first annual decline in LNG imports since 2022. The trade war and the new tariffs on U.S. LNG are driving…

Last week, U.S. President Donald Trump imposed a minimum 10% tariff on all imports from 90 countries, roiling financial markets across the globe. U.S. customs agents began collecting the unilateral tariff at customs warehouses, seaports and airports on Saturday, with higher levies on goods from 57 larger trading partners set to start in the current week. As widely expected, China was the hardest hit by the tariffs: China now faces a hefty 64.9% tariff, including an additional 34% duty imposed by former President Trump on top of existing tariffs…

Oil prices dropped off a cliff last week after President Trump announced a barrage of tariffs on global trading partners, triggering panic in the trading world. The effect has now rippled across the energy industry, set to discourage production growth—and hurt oilfield service companies. The sector was already worrying about the steel and aluminum tariffs that President Trump introduced last month as part of his radical efforts to revive U.S. industries. The tariffs stand at a hefty 25% and apply to all steel and aluminum imports into the…

Iran has awarded US$17 billion of contracts to attempt to reverse a dramatic projected production decline from the world’s biggest gas reservoir. Its South Pars field spans 3,700 square kilometres and holds an estimated 14.2 trillion cubic metres (tcm) of gas reserves plus 18 billion barrels of gas condensate. In addition to generating nearly 80% of Iran’s gas production, it also accounts for around 40% of its total estimated 33.8 tcm of gas reserves (mainly located in the southern Fars, Bushehr, and Hormozgan regions). The other part…

The U.S. Energy Information Administration (EIA) recently reported that U.S. natural gas consumption set new winter and summer consumption records in 2024, highlighting the growing importance of natural gas in the global energy mix.  This surge in consumption comes amid record production levels, even as drilling activity remains subdued. The implications of these trends are significant, influencing everything from energy prices to power generation choices. Record-Breaking Natural Gas Consumption and Production According to the latest EIA data,…

Not only is the world’s second largest economy resisting calls to phase out coal – they’re revolutionizing it. One Chinese company has gone all in on artificial intelligence to run its coal mining operations – and now it’s raking in more profits than your average investment bank. Even with coal prices in decline, the mine posted a 40% profit margin in 2024. With the one-two punch of energy security and profitability, coal is likely here to stay in the Chinese energy mix, climate pledges be damned. The Dahaize Mine…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

The escalating trade war between the US and China could increase liquefied natural gas flows to energy-stricken Europe, as China remains on a multi-month buying strike.  Bloomberg cited marine traffic data from Kpler, showing that no US LNG shipments are currently inbound or about to be inbound to China. "Zero LNG trade between China and the US is likely to continue for the rest of 2025, with a further increase in China's tariff on US LNG from the previous 15% to 49%, as a counterstrike against Trump's steepest tariffs," Wei…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

Far removed from the battlefields of Ukraine, the United States, European Union and Russia are facing off on a second front in a struggle over the nuclear energy sector and control of uranium supply chains. While the war in Ukraine may have ground to a stalemate amid a halting search for a ceasefire, Russia is clearly winning the fight over nuclear energy – at least for now.  Rosatom, the Russian state-controlled nuclear entity, holds commanding field position in the decarbonized power sector, which allows the Kremlin to punch far above…

Oil continued its downward trajectory on Monday afternoon, with the stock market briefly reversing losses after CNBC reported the White House was considering a 90-day pause in tariffs for everyone except China. Oil prices barely got to respond before the White House walked the report back as “fake news”. On Monday at 11:12 a.m. ET, Brent crude was trading down another 1.17%, sitting at $64.81, while the U.S. crude benchmark West Texas Intermediate (WTI) was trading down 1.18% at $61.26.  ??U.S. stock markets opened sharply lower…

The US ambassador expressed “solidarity” with Kyiv following multiple Russian attacks on civilian areas, a day after Ukrainian President Volodymyr Zelenskyy criticized Washington for what he called a “weak response” to Moscow’s deadly campaign against his country’s cities. “We stand in solidarity with the people of Ukraine on this day of national mourning after a Russian missile attack in Kryviy Rih killed 20, including 9 children. Our deepest condolences to the families and loved ones of all those killed…

A Reuters survey on Monday showed OPEC oil output falling in March, driven primarily by drops in supply from Nigeria, Iran and Venezuela.  OPEC pumped 26.63 million barrels per day in March, or 110,000 bpd less than February, according to the survey.  Nigeria, Iran, and Venezuela each saw a drop in March output of 50,000 bpd.  Nigeria is still pumping just above its OPEC quota, but in March, the country reduced supply to its new Dangote refinery. With respect to Iran, February’s output was a record high not seen in six years,…

The oil industry in Alberta is bracing for difficult times ahead, with WTI prices crashing to $60 per barrel and uncertainties about oil demand growing in a world of trade and tariff wars. Last week, the tariffs announced by the Trump Administration and the decision by OPEC+ producers to add in May more barrels to the market than expected crushed oil prices, with WTI Crude, the U.S. benchmark, crashing to $60 per barrel—the lowest level in four years. The benchmark U.S. oil price, against which Alberta’s producers plan and budget their…

Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted…

Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted…

Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted…

India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump. The rise in the excise duty will not raise retail gasoline and diesel prices as it would be borne by oil marketing companies and would be adjusted against the price cut that was warranted because of falling international oil prices. India has regularly raised the excise duty on fuels when international oil prices drop significantly. Since the middle of last week,…