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Iraq Revives Kurdistan Production in Bid to Rescue Oil Revenues
Iraq’s Prime Minister Ali Falih Al-Zaidi has directed oil companies operating in the semi-autonomous region of Kurdistan to resume operations beginning on Thursday, as OPEC’s second-largest producer scrambles to export crude with the Strait of Hormuz de facto closed. At a meeting
House Passes War Powers Measure on Iran, But Trump Will Likely Kill It
The House voted 215-208 on Wednesday to direct President Donald Trump to withdraw U.S. forces from the Iran conflict, with four Republicans crossing the aisle in the most significant congressional pushback on Operation Epic Fury since the war began Feb. 28. The resolution, introd
Pakistan Rushes to Secure LNG as Summer Power Demand Surges
Pakistan has issued a new tender for LNG, to the amount of 1 million tons, The Nation reported today, citing the seasonal increase in electricity demand as summer heat sets in. This is the fourth LNG tender for the spot market over the last two months as the country grapples with
India’s Solar Boom Runs Into a Grid Reckoning
A regulatory overhaul of India’s grid has sparked fears in the solar power industry that they may suffer a negative impact on profitability. The overhaul includes a stipulation regarding penalties for solar generators if they fail to deliver the electricity that they have committ
Trump Plans $700 Million Lifeline for U.S. Coal Power Plants
President Donald Trump plans to allocate a support package of $700 million for coal power generation, Reuters has reported, citing an unnamed White House official ahead of a formal announcement by the U.S. President. The plan is to invoke the 1950 Defense Production Act, which gr
Oil Prices Dip as Israel-Lebanon Ceasefire Revives Iran Deal Hopes
Oil prices were under pressure in early Asian trade on Thursday following the announcement of a ceasefire agreement between Israel and Lebanon. The agreement could ultimately help clear the way for a broader U.S.-Iran deal, which would eventually see the Strait of Hormuz reopen a
The Next Infrastructure Supercycle Could Be Worth $20 Trillion
Unprecedented heatwaves, violent storms, mega-cyclones, catastrophic floods, prolonged droughts and uncontrollable wildfires have all become commonplace, with extreme weather events increasing in both frequency and intensity thanks in large part to human-induced climate change. G
Europe Scrambles to Contain the Energy Shock
The European Union and the Eurozone are feeling the energy shock as the Iran war enters its fourth month. The spike in oil and gas prices amid the Middle East crisis is raising inflation and moderating economic growth expectations in the EU and the Euro area, which are grappling