The U.S. naval blockade of Iran, enforced since mid-April 2026, is delivering a measurable blow to Tehran’s oil-dependent economy. Iranian crude and condensate exports have plummeted from nearly 2 million barrels per day (bpd) earlier this year to below 300,000 bpd in May, according to trade intelligence firm Kpler. At conservative Brent prices around $90 […]
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The Strait of Hormuz has long been the world’s most critical energy chokepoint—handling roughly 20 million barrels per day (b/d) of oil and a significant share of global LNG before the 2026 crisis. But Iran’s de facto closure of the strait since late February 2026, amid escalating conflict, has forced a permanent rethink. Even if […]
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Nigeria’s Dangote Petroleum Refinery has officially broken ground on a second 700,000-barrels-per-day (bpd) crude processing unit at its Lekki complex outside Lagos. The expansion, announced today, will nearly double the facility’s total refining capacity to approximately 1.4 million bpd once the new unit comes online by the end of 2028. The move cements the Dangote […]
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New Delhi’s push for energy security took a major step forward on June 4, 2026, when Indian Prime Minister Narendra Modi met with Venezuela’s acting President Delcy Rodríguez. The high-level talks focused on expanding bilateral cooperation in energy, trade, investment, and renewables, with crude oil at the center of discussions. India is aggressively diversifying its […]
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In a major step forward for U.S. floating LNG technology, Delfin Midstream has reached a Final Investment Decision (FID) on its first FLNG project offshore Louisiana. The 4.4 million tonnes per annum (mtpa) facility will become the first floating liquefaction unit in the United States and the world’s largest FLNG vessel. Samsung Heavy Industries secured […]
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President Donald Trump is set to announce a $700 million federal funding initiative to bolster U.S. coal-fired power generation and establish a dedicated American coal export terminal, according to a Bloomberg report published June 3, 2026. The funding will be channeled through the 1950 Defense Production Act, a Cold War-era tool repurposed for domestic energy […]
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As the Strait of Hormuz remains effectively closed amid the ongoing U.S.-Israeli conflict with Iran, Iraq is racing to reroute its crude exports northward. The Iraqi government has approved an urgent plan to nearly triple pipeline shipments of crude oil from the Kurdistan region to Turkey’s Mediterranean port of Ceyhan, aiming to ease the severe […]
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Venture Global, Inc. (NYSE: VG), a leading U.S. liquefied natural gas (LNG) developer and exporter, announced on June 1, 2026, that its wholly-owned subsidiary, Venture Global LNG, Inc. (the Issuer), intends to offer $2.25 billion in aggregate principal amount of senior secured notes due 2034 and 2036. The proposed private offering targets qualified institutional buyers […]
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The global LNG market, once prized for its transparency and reliability, is rapidly adopting the opaque tactics of the shadow oil trade. As the Iran conflict—sparked by U.S. and Israeli strikes in late February—continues to throttle flows through the Strait of Hormuz, major Gulf producers like Qatar and the UAE are turning off AIS transponders […]
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US refiners are operating plants at elevated run rates, with some delaying scheduled maintenance amid strong refining margins and steady-to-robust fuel demand. According to a Bloomberg report from June 1, 2026, the industry saw one of its lightest maintenance seasons in recent memory, with an average of only 470,000 barrels per day (bpd) of processing […]
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