On 29th July 2026, a suspected drone struck the Energos Winter, a US-owned floating storage and regasification unit (FSRU), at Egypt’s Damietta port. The resulting fire spread to the nearby Gaslog Salem. Both crews were evacuated, the fire was contained, and no casualties were reported. Maritime security firms Ambrey and Vanguard identified …
Read More »Beyond the Strait of Hormuz: Refining Capacity and Product-Market Vulnerability
The recent disruption in the Middle East, including the closure and uneven reopening of the Strait of Hormuz, has exposed a shift in the global energy system’s principal vulnerability. Initial concern focused on whether enough crude oil could reach the market. Yet crude flows have recovered faster than supplies of …
Read More »Ukrainian MP says lifting sanctions on Russian oil puts ‘question mark’ over friendship with UK
The Ukrainian MP said the decision told Russia that ‘everything can be bought and everything is for sale’Bryony GoochThursday 21 May 2026 00:47 EDT A Ukrainian politician has condemned the British government for loosening sanctions on Russian oil, saying it “puts a question mark” on the UK’s friendship with Ukraine. The government …
Read More »SCARCITY & SECURITY: EUROPEAN IMPACT OF BIDEN’S LNG DECISION
Biden’s LNG freeze makes little sense from both European and the US energy security perspectives. It won’t promote a green energy transition. Most energy experts acknowledge that LNG is the principal bridge fuel necessary for a green future. And if American LNG is not readily available, it will be replaced …
Read More »Iran-Russia Arms Trade: Geopolitics And Global Implications
The military collaboration between Iran and Russia has significantly intensified since the invasion of Ukraine, with Tehran delivering offensive weapons used against civilian targets. The recent revelation by the Prana Network of Iran’s clandestine arms deal with Russia, valued at $1.75 billion, has sparked concerns about its implications on global security …
Read More »Iran’s oil and gas industry a year after the war in Ukraine
Introduction Despite its abundant oil and gas reserves, over the last four decades Iran has not been able to play a prominent role in the global energy market. According to energy industry statistics, Iran requires at least US$160 billion in investment to continue to export its oil and natural gas. …
Read More »North-South Transport Corridor: Iran-Russia New Railway to Circumvent Western Pressure
The construction of the International North-South Transport Corridor is another way for Iran and Russia to circumvent Western sanctions and lower trade cost while increasing its volume. After the United States and the European Union imposed extensive sanctions on Russia in response to its invasion of Ukraine in February 2022, …
Read More »Geopolitics Grants Omani LNG a Lifeline
The Russian invasion of Ukraine has given Oman’s natural gas industry, long handicapped by relatively modest reserves and high extraction costs, a new lease on life. The global energy crisis caused by Russia’s invasion of Ukraine one year ago has underlined the centrality of LNG to Europe’s energy security. Since …
Read More »China, India and Turkey to siphon more Russian oil ahead of EU ban
NESREEN BAKHEIT and RURIKA IMAHASHI, Nikkei staff writers June 9, 2022 15:05 JST DUBAI/TOKYO — China and India are continuing to increase imports of Russian oil in a dramatic reshaping of global trade in energy, according to the latest industry data. But the ability of Asia to absorb more production …
Read More »Cheaper Russian oil is the scourge of cheap Iranian oil
Iran’s oil sales have risen under the Biden administration, but if the Ukraine crisis and Iran’s current policy in the nuclear talks continue, the US could tighten conditions for selling Iranian oil. Russia’s invasion of Ukraine has disrupted global oil trade and has given Iran the opportunity to increase exports to China, …
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