Latest analysisOil & Gas
LPG under-recoveries at Indian Oil stood at INR325bn ($3.43bn) on 30 September 2026 as profit nearly tripled. We explain the support gap and inventory risk.
Read the analysisOil & Gas
ExxonMobil and Chevron earned about half their Q3 2026 profit from refining, yet kept buybacks flat and cut debt. We look at where the cash went.
Oil & Gas
Hormuz shipping costs can add over $40 a barrel to Gulf crude bound for Asia. The limpet mine attack of 29 October 2026 makes them harder…
Oil & Gas
China fuel demand fell 8.6% in the first nine months of 2026, yet Sinopec's refining profit quadrupled. We explain why, and what it means for crude…
LNG
QatarEnergy US LNG deals with Woodside and Cheniere add 7 mtpa in two weeks. The volumes hedge the next Hormuz closure, not the current Qatar outage.
Oil & Gas
European oil majors made record refining profits in Q3 2026. Shell, TotalEnergies and Repsol raised buybacks, but far less than the cash that came in.
Oil & Gas
US refining margins tripled in a year as fuel ran short and heavy crude got cheaper. Valero, Phillips 66 and HF Sinclair show how big the…
LNG
The Qatar LNG supply gap will cost Pakistan, India and Italy about 30 cargoes by end-2026. Spot gas costs twice the contract price; South Asia pays…
Oil & Gas
The BP sum of the parts now shows downstream earning almost as much as oil and gas. That makes a breakup tempting, but the timing could…
Nuclear
Belgium nuclear takeover talks with Engie hinge on a €2.3-3.3bn ($2.6-3.7bn) decommissioning gap. A nationalisation law is the state's lever to close it.
LNG
Greater Sunrise will pass fully to TIMOR GAP for up to $200mn, but only $13.7mn is due upfront. The deal moves almost all project risk onto…
