The International Monetary Fund downgraded its growth projection for the year after the war in the Middle East triggered a major oil shock and included the possibility of a downturn if the conflict drags on and energy infrastructure is severely damaged.

On the onset of NaturalGas pricing for the week at $2.60/MMBtu depicting an 18-month low,clarity is emerging that it's becoming a stranded asset with a workforce attached to it.

India used to buy 518,000 b/d of Iranian oil in 2018, which slowed to 268,000 b/d between January-May 2019 during the sanctions waiver period,

Chinese state-owned refineries are competing for Iranian crude oil allowed under the US exemption, while barrels remaining in Southeast Asia with origin certificates other than Iran are expected to continue to be acquired by China's independent refiners, according to sources from the state-owned and independent sectors.

Rosatom Director General Alexey Likhachev said: “On 17 March, an attack was carried out on the territory adjacent to the metrological service building, located at the industrial site of the Bushehr NPP in close proximity to the existing power unit. There were no injuries among Rosatom staff. The radiation situation on the site is normal.”

After months of no contact, discussions with the US have resumed amid heightened threats of a potential conflict, following Washington’s increasing military buildup in regional waters near Iran that began in January.

The MoU was signed by Rosatom CEO Alexei Likhachev and the President of the Atomic Energy Organisation of Iran Mohammad Eslami.

Russia sold 35 billion bcm of gas to the European Union in 2024, which positioned Russia as Europe’s largest gas supplier. Gas has not been subjected to EU sanctions, although the EU has stated it wishes to cut off all Russian gas supplies by 2027. Iran’s gas consumption potential can more than make up the difference and is also likely to spur Iranian industrial development.

Among the sanctioned entities is the Zhoushan Jinrun Petroleum Transfer Co., a China-operated oil terminal located within the greater Zhoushan port area.

According to the resolution, IAEA officials are not allowed to enter Iran for inspections unless the security of the country’s nuclear facilities and peaceful nuclear activities is guaranteed.