Global oil refineries outside active conflict zones are operating near or at maximum capacity, with almost no remaining buffers to absorb further shocks. Saudi Aramco CEO Amin Nasser made the point clearly this week: the system is stretched thin, leaving “little shock absorbers or buffers” against higher fuel prices. A combination of the ongoing war […]
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High fuel prices are likely to persist even if crude oil prices ease in the coming months. Global refining capacity remains critically constrained by the ongoing wars involving Iran (including the Strait of Hormuz disruption under Operation Epic Fury) and Russia-Ukraine, according to warnings from the chief executives of ExxonMobil and Chevron. On recent earnings […]
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In the second quarter of 2026, ExxonMobil and Chevron delivered blockbuster earnings, fueled by elevated oil prices stemming from the ongoing Iran conflict and associated supply disruptions in the Middle East, including pressures around the Strait of Hormuz and Red Sea. These results highlight the resilience of the U.S. majors’ integrated portfolios amid geopolitical volatility, […]
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In a timely July 20, 2026, article for City Journal, energy analyst Mark P. Mills dismantles the persistent narrative of an “energy transition” — the idea that wind, solar, and batteries will soon replace oil, natural gas, and coal. Mills, executive director of the National Center for Energy Analytics and author of The Cloud Revolution, […]
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Energy News Beat Stand Up – Buckle Up – 10 Huge Stories Welcome to the Energy News Beat Standup, where host Stu Turley breaks down the 10 biggest energy stories reshaping global markets. In this episode, we dive into a world in flux: Russia’s refining capacity is crumbling under Ukrainian drone strikes, Iraq is suspending […]
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In a development that echoes broader regional efforts to reduce vulnerability to the Strait of Hormuz chokepoint, ExxonMobil is emerging as a key partner in Iraq’s drive for energy self-sufficiency—particularly by ending its costly and geopolitically sensitive dependence on Iranian natural gas. Iraqi Prime Minister Ali al-Zaidi met directly with ExxonMobil CEO Darren Woods in […]
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How do the Monroe Doctrine, Energy, and Election Integrity all match up I have been saying that the world is healing, and last night was just a critical step. Last night, July 16, 2026, President Donald Trump delivered a primetime address from the White House East Room focused on election security and integrity. He highlighted […]
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Chevron Corp. is set to sign non-binding memorandums of understanding (MOUs) with the Iraqi government on Friday, advancing negotiations for major investments in two of Iraq’s key oil fields while joining efforts to develop pipelines that would allow Iraqi crude exports to bypass the vulnerable Strait of Hormuz. The move signals deepening U.S.-Iraq energy ties […]
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Chevron Australia has signed a new five-year natural gas supply agreement with Alinta Energy, a major Australian energy retailer and long-standing partner. The deal extends a relationship spanning more than four decades and reinforces domestic gas supply security in Western Australia (WA). Deal Details Under the agreement, Chevron will supply 46 petajoules (PJ) of natural […]
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Chevron Corporation and Microsoft have signed a landmark 20-year power purchase agreement to supply electricity to a major data center campus in West Texas. The deal centers on a large natural gas-fired power plant being developed in partnership with investment firm Engine No. 1, marking one of the largest collaborations to date between a U.S. […]
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