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Semafor Energy
🟡 Semafor Energy: Gasoline marches back up
The two biggest themes in global geopolitics — the rollout of AI and the fallout from the Iran war — look set to benefit Democrats.
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Abu Dhabi National Oil Company invests in $6.2B domestic gas project
The expansion fits within ADNOC’s global gas strategy and is part of a broader effort to meet rising domestic demand driven by industrial growth and AI.
Natural gas wells at the Habshan gas complex in Abu Dhabi. Stringer/Reuters.
Bahrain considers nuclear power option
The potential small modular nuclear power plant would be the first in the kingdom, which holds the Gulf’s smallest hydrocarbon reserves.
A digital visualization of the small modular nuclear reactor planned by Rolls-Royce. Rolls-Royce/Handout via Reuters.
Chevron and Qatar invest in Iraq-Syria pipeline
The deal adds to the growing role that Qatari firms are playing in Syria, where Gulf governments are jockeying for position in the country’s reconstruction.
Essam Al-sudani/Reuters
British Steel saga dents UK-China ties
China’s Jingye Steel is seeking compensation from the British government over the nationalization of its former steel production complex in England, further straining relations between London and Beijing.
Danny Lawson/Reuters
US DOE pushes for greater propane exports to Africa
As the administration pulls back on humanitarian aid, Energy Secretary Chris Wright is boosting a more transactional approach to fighting energy poverty.
Thomas Mukoya/Reuters
Iran threatens Red Sea gateway as US launches more strikes
Tehran told the Houthis in Yemen to shut down a key oil route through the Red Sea if the US targets Iranian power infrastructure, a report said.
Reuters
Depleted stockpiles stoke global oil supply anxiety
Energy markets had some slack to absorb the first shock, but renewed fighting jeopardizes oil shipments.
Asian buyers cool on Gulf LNG
Around 83% of the Gulf’s LNG exports head to Asia, but the Iran war is changing dynamics, prompting importers to cut demand, switch to other suppliers, or turn to other fuels.
OPEC trims oil demand forecast
The producer group cut its growth forecast for world oil demand this year by 20% — its third straight downward revision.
Global market faces LNG glut, while US forecasts shortfall
The world is facing an LNG surplus that analysts predict could reach more than 100 million tons by 2031.
Permitting major obstacle to energy infrastructure buildout
The issue is “most acute” in the US, JP Morgan says, but can also be seen in lengthening construction timelines in Australia, Canada, Germany, and the UK.
Russia bans diesel exports as fuel crisis deepens
Ukrainian strikes on refineries have led to the worst fuel shortages since the fall of the Soviet Union.
Saudi Arabia slashes main crude oil price for Asian customers
Despite the discount, Asian buyers said Saudi supplies were still more expensive than those from other regional producers.
US heat wave strains grid
A heat wave gripping the US this week is putting pressure on an already-strained energy grid.
Russia faces growing fuel shortage
President Vladimir Putin acknowledged this week that Ukrainian drone attacks on Russian refineries had triggered fuel shortages, but downplayed the severity of a crisis.
Renewed oil flows give US leverage
The future of the Strait of Hormuz is hanging over the indirect talks in Qatar this week.
Russia imports gas from India
The shipments mark a shift in the countries’ energy dynamic.
Amazon’s rising carbon footprint ‘not a one-year story,’ CSO says
Despite the bump, the company remains confident it can hit its goal of becoming carbon neutral by 2040, the head of sustainability told Semafor.