Crude oil production in the Middle East rebounded to between 14.6 million bpd and 15 million bpd earlier this month amid the ceasefire between Iran and the United States, the Financial Express reported today, citing a prediction that full recovery to pre-war levels would come by the end of the year. The prediction comes from Rystad Energy, which said two days ago that it expected oil production to rebound to pre-war levels three months earlier than previously forecast thanks to the progress in peace negotiations. That was before reports emerged…

Crude oil production in the Middle East rebounded to between 14.6 million bpd and 15 million bpd earlier this month amid the ceasefire between Iran and the United States, the Financial Express reported today, citing a prediction that full recovery to pre-war levels would come by the end of the year. The prediction comes from Rystad Energy, which said two days ago that it expected oil production to rebound to pre-war levels three months earlier than previously forecast thanks to the progress in peace negotiations. That was before reports emerged…

China’s imports of liquefied natural gas this month are likely to be unchanged on last year’s, Kpler has forecast, seeing arrivals of a total of 5.29 million tons, as cited by Bloomberg. The June total, however, would be an increase on May LNG imports, which stood at 4.9 million tons, as demand growth intensifies, driven by air-conditioning in the summer. The May figure was a reversal of import trends from the previous few months, which booked a series of declines amid crimped supply from the Middle East that led to significantly higher…

Crude oil prices are in freefall after the United States and Iran agreed on a ceasefire, set to last 60 days. Traders expect the ceasefire to unleash an avalanche of crude, and indeed, tankers are leaving the Persian Gulf in growing numbers. And yet Iran just struck a commercial ship in Hormuz. Bloomberg reported earlier this week that the ceasefire prompted huge discounts in available crude cargoes, noting how Angolan crude was selling at a $10 discount to dated Brent—for the first time in a decade. Not only this, but Chinese refiners were…

For years, critics of the energy transition have made essentially the same argument. Renewable energy was supposedly too expensive, too dependent on subsidies, too intermittent, and too vulnerable to survive a serious energy security crisis. Sooner or later, they argued, governments and investors would return to the comfort of oil, gas, and coal. The latest figures from the International Energy Agency suggest the opposite is happening. According to the IEA's newly released World Energy Investment 2026 report, global investment in clean energy has…

In the age of the nuclear renaissance, several countries are strategising to significantly increase their nuclear energy capacity over the coming decades, as part of efforts to diversify their energy mix and boost long-term energy security. However, securing fuel to power operations has been complicated, particularly following the introduction of sanctions on Russian energy products. Now, alternative uranium fuels offer promise for the nuclear energy industry. Nuclear fission, used in all existing nuclear power plants, is the process in which an…

Beijing is positioning itself to lead the post-war reconstruction effort in Tehran - a move analysts suggest could secure China long-term access to critical Iranian oil reserves. The diplomatic groundwork was laid during a recent meeting in New Delhi between Chinese Foreign Minister Wang Yi and the deputy secretary of Iran's Supreme National Security Council, according to Nikkei Asia. The talks underscore China's broader strategy to expand its economic and diplomatic footprint in the Middle East amid the vacuum left in the wake of one failed US…

Egypt has steadily been increasing its renewable energy capacity and has even bigger plans for the coming decade. While Egypt continues to rely heavily on fossil fuels, that could soon change thanks to high levels of private investment in green energy, supported by favourable national policies. Egypt has significant potential to develop its solar and wind energy sectors, thanks to its favourable geographical conditions, with abundant land, including arid deserts, sunny weather, and high wind speeds. The North African country has some of the highest…

You might think that Shark Tank’s “Mr. Wonderful,” Kevin O’Leary, is betting it all on AI, but he is not.  He is betting on the $5+ trillion in infrastructure required to run it, and that’s where big capital is flowing now.  And he’s betting on Bitzero (NASDAQ: AIBZ) to be one of the first to break AI’s biggest chokepoint: power.  Bitzero was looking further ahead while most of the rest of the market was narrowly focused on AI software and semiconductors.  As a result, on May 5th, Bitzero…

The Eagle Ford shale play has shown remarkably consistent crude oil production and rising natural gas output in recent years. A formation beneath the Eagle Ford has been producing for nearly a century, but now it has its remaining resources nearly exhausted. The Buda Limestone formation, which lies beneath the Eagle Ford Group, has limited remaining oil and gas resources, the latest analysis by the U.S. Geological Survey (USGC) showed this week. Technically recoverable resources at Buda Limestone are estimated at 184 billion cubic feet of gas and…

China’s clean energy dominance is growing. Buoyed by the skyrocketing energy needs and future projected demands of the artificial intelligence boom, clean energy projects are getting greenlit at a breakneck pace. And those projects depend on cheap Chinese clean energy components, as Beijing has near-total control of global supply chains for clean energy tech including solar panels and lithium-ion batteries for electric vehicles as well as energy storage systems. As a result, Chinese clean energy exports are going gangbusters in virtually…

With major plans for space travel, several governments are proposing lunar energy production, including solar and nuclear projects. In May, NASA announced plans to send robotic landers, hopping drones, and vehicles to the moon as part of the United States government’s plans to develop a lunar base. NASA is expected to develop the machines alongside Intuitive Machines, Astrobotic, Blue Origin, and Elon Musk’s SpaceX. The United States aims to land its astronauts back on the moon before President Donald Trump leaves office in 2029, 60…

Data center developers are scrambling for reliable power, turning away from congested grids and toward on-site fuel cells. Rystad Energy research and analysis projects a tenfold increase in fuel cell market revenues by 2030, rising from around $2.8 billion in 2025 to roughly $30 billion, as AI computing demand drives unprecedented growth in data center construction. A contracted order book of approximately 9 gigawatts (GW), including framework agreements with Oracle, AEP, Equinix, and Brookfield, points to growing confidence among major operators…

Turkey, the host of the UN’s COP31 climate summit, has urged other countries to electrify to support the global green transition. This shift could significantly cut greenhouse gas emissions and reduce reliance on fossil fuels over the next decade, helping to achieve global climate change targets. Murat Kurum, Turkey’s environment minister, who will preside over the COP31 summit alongside Australian representatives, is encouraging countries to meet at least a third of their energy needs with electricity over the next decade to reduce…

Last week, Angola's state oil company, Sociedade Nacional de Combustíveis de Angola (Sonangol), secured a $2.65-billion financing deal with a consortium of international banks to fund the company's operating expenses and capital investments. The financing was heavily backed by a syndicate of foreign lenders including Société Générale, First Abu Dhabi Bank, Standard Bank of South Africa and Absa, while local Angolan banks, including Banco Fomento de Angola (BFA), Banco Millennium Atlântico and Banco Angolano…

Global energy markets are in turmoil as energy crises keep piling up. The energy-hungry AI boom, war in Iran, geopolitical instability, and climate pressures are creating a polycrisis for the global energy sector, and it’s just getting started. To solve multiple overlapping crises, we will need multiple overlapping solutions. An all-of-the-above solution to increasing energy security is therefore gaining favor on a global scale as the precariousness of over-reliance on limited energy supply chains becomes dangerously clear. While fossil fuels…

The world’s largest battery maker is taking a step back from the eclectic vehicles sector to refocus its efforts on energy storage. China’s Contemporary Amperex Technology Co. Ltd. (better known as CATL) has been building up its energy storage portfolio for years now, but the company’s transition away from EVs and toward energy systems has been supercharged by the artificial intelligence boom. Five years ago, just 2 percent of CATL’S sales came from battery storage. Today, storage accounts for a full quarter of the megacompany’s…

Amid an ongoing row between Washington and Tehran over whether international monitors can verify Iranian compliance with its nuclear nonproliferation commitments, former officials have told RFE/RL that the scale, scope, and degree of access are crucial to the success of inspections. Details on those have yet to be determined, though Raffael Grossi, head of the International Atomic Energy Agency (IAEA) said the UN body "will be working on the modalities -- dates, procedures, places -- very soon." That doesn't mean, according to experts, that the…

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 573, up 26 from this same time last year. The number of active oil rigs rose by 7 to 440 during the latest reporting period, according to the data. This is 8 above this same time last year. The number of gas rigs rose by 3 to 125, which is 16 more than this time last year. The miscellaneous rig stayed the same at 8. The latest EIA data showed that weekly…

Equinor is ending its offshore wind business activities in Japan and will close its Tokyo office by the end of the year as the Norwegian energy major is realigning its non-oil and gas strategy to focus on power markets. “This decision reflects a reassessment of Equinor’s strategic direction, with a strengthened focus on integrated power markets,” the Norwegian company said on Friday. While Equinor is ending its Japanese presence, Japan will remain an important country for Equinor, which will continue to invest in its longstanding…