Libya’s National Oil Corporation, NOC, and Austrian energy firm OMV have declared the Essar oil discovery commercially viable as OPEC’s second-largest African producer pushes to revive its industry in partnerships with international oil majors. NOC has said that the “Essar” discovery made by OMV Austria is now declared commercially viable, following the drilling of well

Iran-linked carriers of liquefied petroleum gas (LPG) have made U-turns and traveled in zig-zagging patterns in recent hours as they face the U.S. naval blockade in the Gulf of Oman, after having cleared the Strait of Hormuz outbound into the Gulf of Oman and the Arabian Sea. The Glendale and Danuta I LPG carriers, sanctioned

Pakistan is looking to buy additional spot LNG cargoes for July and August delivery as the fresh halt to Strait of Hormuz traffic has disrupted shipments from its term supplier, Qatar. The Pakistani government is close to finalizing a plan to buy on the spot market at least one additional LNG cargo for delivery this

Oil prices were headed early on Friday for a 12% weekly gain, the biggest jump in one week since April, as the re-escalation in the Middle East and the abrupt halt to the recovery of Strait of Hormuz flows pushed crude futures prices to the highest in over a month. In Asian trade on Friday,

Cesium is an “obscure object of desire” in one of the world’s most tightly constrained critical mineral markets, where commercial production has historically come from only a handful of mines. The push to rebuild America’s defense supply chain has turned this rarest of commercial metals into a strategic priority. While cesium has occupied a rather

The oil market may soon run out of the supply and demand cushions that have kept prices from soaring to record highs during the huge loss of flows through the Strait of Hormuz. The window provided by the U.S.-Iran memorandum of understanding, during which Middle Eastern producers rushed the crude amassed in the Gulf in

Back in March, the 32-member countries of the International Energy Agency (IEA) agreed to a record release of 400 million barrels of oil and refined products from their emergency reserves after the Iran war disrupted global energy flows and triggered sharp oil price spikes. The United States did the heavy lifting, with the Trump administration