IATA cautions Europe may cancel flights due to jet fuel scarcity
International Air Transport Association (IATA) chief Willie Walsh said flights in Europe could be cancelled from the end of May because of a shortage of jet fuel. Europe relies on the Middle East for about 75% of its jet fuel supply. Global jet fuel and kerosene demand averaged 7.8 million bpd in 2025, with the Gulf providing […]
Middle East output recovery could take two years, warns IEA
IEA chief Fatih Birol told Zurich’s Neue Zuercher Zeitung that restoring Middle East oil and gas production to pre‑war levels would take roughly two years overall, with some countries needing longer than others. Birol warned that the market is underestimating the impact of a prolonged closure of the Strait of Hormuz and said no tankers […]
India withdraws bid to host COP33 climate summit
India’s foreign ministry confirmed it has withdrawn its offer to host the United Nations COP33 summit in 2028. Reuters reported earlier this month that India was reconsidering its bid; the confirmation came at a press briefing, though specific reasons were not given. Foreign ministry spokesperson Randhir Jaiswal said India remains fully committed to meeting its […]
US and Philippines plan 4,000‑acre industrial hub to secure AI and semiconductor supply chains
The US and the Philippines will build a 4,000 acre (1,620‑hectare) industrial hub in the Luzon Economic Corridor after Manila joined Washington’s Pax Silica initiative. The Philippines is the 13th country to join Pax Silica, which aims to safeguard supply chains for critical minerals, semiconductors and advanced manufacturing. The hub will be located in the […]
Spain’s regulator opens formal investigation into 2025 blackout
Spain’s energy and competition watchdog, the CNMC, said it found long‑term breaches of electricity system rules that may have affected power‑system operations, prompting it to open formal investigations. On April 28, 2025, a sudden voltage surge caused a major blackout across Spain and Portugal. The CNMC said the suspected breaches did not cause the outage […]
Lord Moynihan warns UK faces self-inflicted crisis as gas debate hardens
A senior Conservative voice has used one of the UK gas sector’s flagship events to argue that current energy policy risks accelerating deindustrialisation, with domestic gas framed not as a legacy fuel but as a strategic necessity. Speaking at the National Gas Energy Forum on Thursday, shadow minister for energy security and net zero Lord […]