Latest news and articles about energy shortage from NEX English
Madagascar announced a national state of emergency on Tuesday, April 7, due to a severe fuel shortage stemming from ongoing conflicts in the Middle East. The government has taken urgent steps to ensure the continuity of public services.
The Australian Parliament has recently passed legislation allowing the Export Credit Agency to purchase, store, and sell fuel and rare minerals. This decision comes amid a significant energy shortage in the country, partly attributed to escalating crises in the Middle East.
The Chairman of the Senate Energy Committee has stated that the ongoing navigational corridor wars are aimed at suffocating China's economy, which is facing an energy shortage of up to <strong>35%</strong>. These figures reflect the significant impacts of geopolitical conflicts on the Chinese economy.
Reports from Société Générale indicate that the closure of the Strait of Hormuz could lead to a severe jet fuel shortage in the UK. Michael Haigh, head of global commodity research, confirmed that the last ships carrying jet fuel will arrive in the next 48 hours.
Japan has warned of a worsening energy shortage and called on the G7 to prepare flexible measures to stabilize energy markets amid ongoing tensions in Iran. This statement was made by Japan's Minister of Industry, Ryoshi Akazawa, following an online meeting with G7 finance and energy ministers.