Oil and gas sector

Iran war splits Asian diesel market into haves and have-nots

A driver in the Philippines refills his jeep with diesel. The Philippines grappling with shortages caused by the Iran war.

How the Hormuz crisis is driving a biofuels boom

Farmers harvest green beans on a field, amid a temporary ceasefire between Lebanon and Israel, in the village Ras El Ain, near Tyre, southern Lebanon, April 27, 2026. REUTERS/Marko Djurica/File Photo

News analysis

UAE oil break exposes deepening Saudi rift as Gulf power shifts

The United Arab Emirates’ decision to quit Opec is part of a deeper rupture in ties in which Abu Dhabi is prioritising autonomy over deference to Riyadh, said analysts.

Nations urged to ‘go further’ as fossil fuel exit talks wrap up in Colombia

General view of a plenary session during the International Conference on the Just Transition Away from Fossil Fuels in Santa Marta, Colombia, on April 28, 2026. PHOTO: AFP

OPEC+ likely to agree another oil output hike without UAE, sources say

Members of OPEC+ had been expected to hike output to 206,000 barrels per day before the UAE's exit announcement.

Russia to remain in OPEC+, hopes UAE exit does not spell end of group

France unveils plan to ditch all fossil fuels by 2050

Coal would be phased out by 2030, oil by 2045 and gas by 2050 for energy purposes, the road map said.

UAE leaves OPEC and OPEC+ in huge blow to global oil producers’ group

OPEC Gulf producers have already been struggling to ship exports through the Strait of Hormuz, where a fifth of the world’s crude oil and liquefied natural gas normally passes.

China’s state refiners seek to resume fuel exports after halt

China’s state-owned refiners have begun applying for government permits that would allow them to resume fuel exports in May, citing plentiful domestic stockpiles.

Japanese public wants energy-saving steps as Takaichi holds back

Japan Prime Minister Sanae Takaichi has said repeatedly that Japan has enough oil for the time being and that the country has secured stable supply into 2027.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.