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Bleak times for UK North Sea
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
The death knell for UK energy security
The end of Grangemouth and Lindsey oil refineries marks a worrying trend across Europe amid cost and transition pressures
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
Israel-Iran war imperils Egypt’s energy supply
Egypt’s government was already preparing for potential energy shortages this summer, and the loss of Israeli gas supply has made things worse
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Iraq seeks alternatives to Iranian gas
The country is facing energy shortfalls this summer amid reduced Iranian gas imports and difficulties leasing an FSRU
Is a Russia-Iran gas deal on the horizon?
Russia has ample spare gas, and Iran needs it, but sanctions and pricing pose steep hurdles.
EU and UK look to security beyond gas
The scars of the Russia crisis have accelerated Europe’s push to wean itself off gas dependence as the growing globalisation of LNG becomes a double-edged sword
Letter from Iran: High-stakes nuclear diplomacy
Iran’s oil is caught in the crosshairs of support from China and Russia and US maximum pressure, with options becoming more and more limited
Can the UK take its foot off the gas?
While the government might complain about the vicissitudes of the international gas market, the UK's transition away from the fuel is fraught with challenges
Iran UK
Chris Stephen
5 August 2019
Follow @PetroleumEcon
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Iran plays naval cat-and-mouse game in the Gulf

Western military protection for its tankers is expanding, but unconventional tactics remain a threat

The arrival of a second British warship in the Gulf on 28 July means London has the resources to escort UK-flagged vessels through the Strait of Hormuz. But this support will be small comfort to tanker captains, or the industry that depends on them. State-of-the-art destroyer HMS Duncan and the already Gulf-based frigate HMS Montrose have the firepower, if backed by planes from the US 5th Fleet, to counter Iran's ageing collection of conventional bombers, frigates and submarines. But Iran has several unconventional means of causing havoc if it chooses. Limpet mines, placed by frogmen or delivered by fast boats, have already struck six tankers in the Gulf of Oman, triggering a blame-game abou

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