Europe and Asia's response to 60% Middle East crude export collapse reshapes global energy trade
North American crude replaces Middle East flows as Europe faces structural diesel deficit while exporting gasoline surplus eastward.
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North American crude replaces Middle East flows as Europe faces structural diesel deficit while exporting gasoline surplus eastward.
Wood Mackenzie report that prolonged disruption to Middle East energy supplies could accelerate a structural shift in global energy systems, halving oil and gas import dependence by 2050 and reducing oil demand by 20% and gas demand by 10% relative to the base case.
The European bellwether front-month gas contract on the Dutch TTF hub initially dropped to EUR 42.50/MWh on Ice Endex this morning, its lowest since 2 March, before recovering slightly to EUR 43.46/MWh, at the time of writing.
Rebuilding asset visibility from the component level up, by Rajaram Madhavan, SLB.
The UK government faces renewed pressure to change its policy on the North Sea, amid the crisis in the Middle East, says Wood Mackenzie.
TotalEnergies announces the completion of the merger between NEO NEXT and TotalEnergies’ UK upstream oil and gas business.
War in the Middle East has triggered severe global supply disruptions in oil and gas, with reported damage and shutdowns affecting liquefied natural gas (LNG) trains, refineries, fuel terminals and critical gas-to-liquids facilities across the region.
Rystad Energy analysis shows that in a worst-case scenario, Middle East crude output could fall to approximately 6 million bpd, a region-wide reduction of 70% from the pre-conflict baseline.
Rystad Energy’s oil market update from Janiv Shah, Vice President, Oil Markets.
Oil price surge above US$115 signals escalation from logistics shock to supply disruption in energy markets, says GlobalData.
Wood Mackenzie warns Middle East conflict threatens 200 million tpy of Asian LNG demand growth over next decade as Qatar declares force majeure on shipments.
GlobalData announces that MEED, its Middle East-focused business intelligence platform, has launched a content hub for updates on the US-Israel-Iran conflict.