As oil markets shift, OPEC's grip is under pressure, US exports rise, and China drives the push towards renewables.
The Iran war has done in two months what years of climate policy could not: make green hydrogen look economically viable. Soaring oil and gas prices since February’s outbreak of hostilities have narrowed the cost gap between the zero-emission fuel and its fossil rivals, paving the way for wider uptake across Asia. The eight-week US-Israeli war on Iran, Tehran’s closure of the Strait of Hormuz and Iranian strikes on Qatar’s Ras Laffan liquefied natural gas (LNG) complex have sent Asian fuel...
Malaysia has deployed police to dozens of petrol stations along its borders as it moves to stop subsidised fuel from leaking out of the country, with the government linking the tougher enforcement to a global energy crunch triggered by the Iran war. The Southeast Asian nation shares borders with Thailand, Singapore, Indonesia and Brunei. Police said 36 petrol stations had been classified as “hotspots” and another 55 as high-risk locations. The deployments began at 6am on Wednesday across Perlis,...
Malaysia is doubling down on renewables to secure its energy future, its deputy prime minister has said, as the government scrambles to mitigate the fallout from an escalating energy crisis triggered by the Iran war. Tehran all but shut access to the Strait of Hormuz last month in retaliation for the US and Israel’s attacks, disrupting a key energy chokepoint through which about 25 per cent of global seaborne oil trade and nearly a fifth of global liquefied natural gas exports pass – much of...
Saturday had been the only day off in Himalayan nation, which relies almost entirely on India for its fuel supplies.