GE Vernova raised its full-year revenue forecast on Wednesday after another quarter of booming demand for gas turbines, grid equipment and AI-driven electricity infrastructure. Wind was the clear exception. The company’s wind business posted deeper losses as turbine manufacturers continue to struggle with weak project economics, rising costs and politics. The company reported second-quarter revenue of $11.1 billion, up 22% year-over-year and ahead of analyst expectations, while orders surged 88% to a record $24.2 billion, lifting its backlog…

Since Middle East hostilities reignited, oil prices have soared higher, although they remain below the highs witnessed during April 2026. This can be blamed on U.S. strikes against Iran, with Tehran and Washington disrupting traffic in the Strait of Hormuz, through which a fifth of global hydrocarbon supplies are shipped. This has sparked greater demand for Brazil’s high-quality oil grades, notably from Asia, because there is no need for shipments to pass through contested waters. This will drive greater petroleum investment and production,…

July 22, 2026 LNG Headlines

China’s demand for crude oil imports and the pace of its refined products exports will help shape the trend in oil prices through the end of the year, alongside the supply disruptions in the Middle East.   Decade-low Chinese crude oil imports have eased upward pressure on oil prices in recent months despite the worst supply disruption in the history of oil markets. China’s tumbling demand for crude oil imports was the key demand-side factor in capping the price hikes since the Iran war began.  The market is now increasingly…

When the Energy Institute reported in its Statistical Review of World Energy that the global grid is still ruled by hydrocarbons, it may have come as a surprise to some observers. Now, another report has confirmed the status quo: alternative energy sources of electricity are expanding, but the world still generates most of its electricity from coal, gas, and oil. Some 57% of global electricity is generated from hydrocarbons, Pew Research Center reported, after analyzing data produced by net-zero outlet Ember, which is also a partner of the Energy…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 2.603 million barrels in the week ending July 17. In the week prior, US crude oil inventories fell by 564,000 barrels. Although commercial crude oil inventories excluding the SPR have been falling rapidly for three months now, shedding just over 57 million barrels over the last thirteen weeks, US crude inventories are only down 7 million barrels so far this year, according to API data, kept in check by draws from the SPR. For the week ending…

The artificial intelligence boom has created an era of unprecedented uncertainty in the global economy. Large language models are evolving as quickly as they are being integrated, creating a major headache for anyone trying to project their future impact or even their current energy footprint. But while we don’t know exactly how much energy will be needed to power the tech sector in coming years, we do know that it will be a whole lot, and the market is already reacting accordingly. “Energy companies are raising money at IPO at their…

Norway's crude oil production beat official forecasts in June as offshore fields returned from seasonal maintenance, delivering a stronger-than-expected increase in supply at a time when global markets remain focused on disruptions to Middle Eastern exports. According to preliminary figures released Tuesday by the Norwegian Offshore Directorate (SODIR), Norway's crude oil production averaged 1.827 million barrels per day (bpd) in June, exceeding the agency's official forecast while rising sharply from 1.677 million bpd in the same month last year.…

Following a drone attack on the Caspian Pipeline Consortium (CPC) terminal along the Black Sea Coast, Kazakhstan has newly confirmed a halt to crude transfers there. "Kazakhstan is set to stop piping crude to a port on Russia’s Black Sea coast after a spate of attacks on tankers that's jeopardizing the landlocked Asian country’s ability to produce oil," Bloomberg reports Tuesday morning. "The CPC Terminal at the Russian port of Novorossiysk will stop accepting piped supplies because tanker companies are too nervous to…

India's biggest state refiners are no longer willing to gamble on the Strait of Hormuz. Indian Oil Corp. and Mangalore Refinery & Petrochemicals have suspended crude loadings from Iraq after a string of attacks on commercial tankers turned the world's most important oil chokepoint into an increasingly expensive and dangerous place to do business. According to Bloomberg, Indian Oil abandoned plans to load the VLCC Lila Jamnagar, concluding that sending a fully laden 2-million-barrel tanker through Hormuz was no longer worth the risk. Mangalore…