Energy

Houthi forces seized Mayun Island at the Red Sea entrance and the sudden market spike threatens to add 35 cents per litre to Australian petrol prices.

Climate Change and Energy Minister Chris Bowen has ruled out exemptions for any state or territory from the federal government's renewable energy rules for data centres, rejecting overtures from Queensland and the Northern Territory to use existing fossil-fuel assets to attract AI infrastructure

Global observable oil inventories declined by roughly 3 million barrels per day between February and August 2026, totalling a draw of about 519 million barrels across the period, according to Citi research released on 20 August 2026. Six months. Half a billion barrels.

Australia holds roughly 37 days of diesel cover. The government has opened consultation on spending 3.2 billion dollars to stockpile a billion litres of diesel and jet fuel by 2030.

Chris Bowen has formally asked the Australian Energy Market Commission to rewrite the National Electricity Rules so new data centres bring their own renewable supply. Queensland refused to endorse the framework, and the NT is weighing a gas-fed campus.

Shell posted a quarterly profit of $9.84 billion, more than double the $4.26 billion recorded in the same period a year earlier, making it the company's second-highest quarter on record. The figures came out of Shell's second-quarter results webcast on 30 July 2026.

Eraring Power Station was supposed to be a solved problem. Origin Energy submitted notice to the Australian Energy Market Operator on 17 February 2022 to retire the 2.88 GW Lake Macquarie facility as early as August 2025, a full seven years ahead of its original 2032 schedule.

More than 50 ships headed for Australian terminals as demand surges 30 per cent. Farmers urge supermarkets to absorb fuel cost pressure.