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Letter from the UAE: The GCC and Iran – No easy way out
For GCC producers, the ceasefire may prove more destabilising than the war itself: exports remain constrained, and control over Hormuz has shifted in ways that could endure
The global offshore bonanza
Offshore operators are working through an FID backlog as the rig market consolidates, helped by improving project economics and a renewed security drive
China’s secure energy transition
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
Venezuela already making oil comeback
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
Qatar’s Golden Pass dilemma
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
Lessons from the crisis
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
Libya's potential goes unrealised
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
Letter from the US: The oil market abyss
The overlooked oil supply issue is that even after the Strait of Hormuz opens, barrels won’t readily return
Do not politicise a geopolitical crisis – Ydreos
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A bigger and longer crisis
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The Alaska State Capitol building
US Upstream Politics
Vincent Lauerman
3 June 2024
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Biden clamps down on Alaskan oil and gas

Federal government restricts activity in Alaskan petroleum reserve but leaves current arrangements like Willow alone

The Biden administration finalised a rule to restrict oil and gas development in a significant proportion of the National Petroleum Reserve – Alaska (NPR–A) on 19 April. Under the US Bureau of Land Management’s (BLM’s) new rule, 13.3m acres of the 23m acre reserve have been designated as “special areas” limiting future oil and gas leasing and industrial development, while “the rule also codifies existing prohibitions on new leasing in 10.6m acres, more than 40% of the NPR–A”. The rule will apply to existing leases within the special areas but will not alter the terms of those contracts or affect currently authorised activities under them, including ConocoPhillips’ 600m bl Willow project, app

Also in this section
Gas growth cools in 2025
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
OPEC+’s 11m b/d March production collapse
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
Galkynysh goes fourth
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
The UK’s problematic power price
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy

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