Qatar’s state-owned energy champion, overseeing the country’s oil and gas empire
A tentative deal has reopened the Strait of Hormuz and allowed some vessels to leave the Persian Gulf, but global oil flows have not returned to normal. Producers and shipowners have cut output and delayed shipments; tankers stranded in the Gulf and shut-in fields will take weeks to months to restart full exports, keeping pressure on prices and inventories through summer.
A blast at Qatar’s Barzan gas facility in Ras Laffan has injured 54 and left 18 missing as QatarEnergy works to restart LNG operations after earlier Iranian attacks. Officials say the explosion was a technical accident during start-up, with no environmental impact expected. QatarEnergy says the Barzan plant is part of Ras Laffan’s LNG complex, a key export hub.
Since the latest talks, tanker traffic through the Strait of Hormuz has picked up, while Iran-linked vessels continue transiting. The U.S. has granted a sanctions waiver through August, and discussions aim for a durable ramp-up in Gulf LNG exports. Oil prices have fallen modestly on the news.
The Financial Conduct Authority has had parts of its £9.1bn motor‑finance compensation scheme suspended after legal challenges from Volkswagen Financial Services, Mercedes‑Benz Financial Services, Crédit Agricole Auto Finance and consumer group Consumer Voice. The Upper Tribunal has set hearings for December or February; lenders will not need to calculate or pay redress while legal proceedings continue, delaying mass payouts until at least 2027 if the scheme survives.