Gas and power
Overview
Gas and power, two integral energy sources that underpin all major economic activities, are critical for businesses, which need access to reliable market information, data and prices. This enables them to make more informed decisions relating to their exposure to gas and power sectors.
Our team of market experts provides independent and reliable price assessments, indexes, market data and in-depth analysis. Our prices and market intelligence are used by energy companies, governments, banks, regulators, exchanges and many other organisations. You can benefit from our in-depth knowledge of these markets for better decision-making.
Gas and power market coverage
Argus is a leading independent provider of market intelligence to the global energy and commodity markets. Our price assessments and market intelligence are available for all major gas and power markets across the globe. Explore our coverage most relevant to your business.
Latest gas and power news
Browse the latest market-moving news on the global gas and power industry.
BP to simplify organisational structure
BP to simplify organisational structure
London, 14 April (Argus) — BP plans to reorganise into a simplified structure with two distinct upstream and downstream segments, the company confirmed today. "In service of becoming a simpler, stronger, more valuable BP, we intend to build an organisation with a clear upstream and downstream," chief executive Meg O'Neill said in a statement to employees. She added she is "committed to providing clear direction and consistency so we can move forward together with confidence". The move follows comments made in late March by BP chairman Albert Manifold, who said the company wants to shift towards simpler, more standardised and more comparable reporting. BP currently reports results across four segments: Gas & Low Carbon Energy; Oil Production & Operations; Customers & Products; and Other Businesses & Corporate. The reorganisation comes as management changes loom at the company's downstream business. BP's Customers & Products head Emma Delaney was nominated last week as the next chief executive of Austrian oil company OMV. Earlier today BP flagged an "exceptional" oil trading performance in the first quarter. But the company said price lags of up to two months meant it failed to capture the full benefit of higher oil and gas prices during the period. BP will publish its first-quarter results on 28 April. By Jon Mainwaring Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US starts enforcing blockade of Hormuz: Trump
US starts enforcing blockade of Hormuz: Trump
Washington, 13 April (Argus) — The US set out on Monday to intercept ships leaving Iranian ports or heading to Iran through the strait of Hormuz, ostensibly to increase US leverage in peace negotiations with Tehran. The blockade , which went into effect at 10am ET (14:00 GMT) Monday, ought to force Tehran to make a deal with the US and reopen the strait of Hormuz, President Donald Trump told reporters on Monday. Trump — as he has done on many occasions since the war with Iran started on 28 February — claimed that Iran in fact became more pliable following his decision to enforce a blockade. "We've been called this morning by the right people, the appropriate people, and they want to work a deal," he said, without offering any details. Senior US and Iranian officials failed to make a breakthrough in marathon talks over the weekend in Islamabad, Pakistan. From the US' perspective, the key stumbling block is Iran's nuclear program. "Iran will not have a nuclear weapon, and we agreed to a lot of things, but they didn't agree to that," Trump said. "And I think they will agree to it. I'm almost sure of it. In fact, I am sure of it. If they don't agree, there's no deal, there'll never be a deal." Iran has warned it could target ports across the Mideast Gulf if its own facilities are attacked as a result of US naval operations, describing US plans to impose a blockade on Iranian ports as "piracy". Tankers from neutral countries that are currently loading Iranian cargo have been granted a grace period to get through the US' announced blockade, according to the UK Maritime Trade Operations. As much as 36pc of all tanker traffic transiting the strait of Hormuz since the start of the US–Iran war either departed or were bound for Iranian ports. In Trump's words, Tehran's ability to prevent non-Iranian trade from transiting Hormuz is detrimental — "They're really blackmailing the world. We're not going to let that happen." — but also not affecting the US very much. "We don't use this trade," Trump said. "We have our own oil and gas much more than we need. We have more oil and gas than Saudi Arabia." Trump earlier on Monday posted on his social media platform that "34 Ships went through the Strait of Hormuz yesterday, which is by far the highest number since this foolish closure began." Trump told reporters that other countries have offered to help enforce the blockade even though "we don't need other countries". He said he would announce on Tuesday which countries will join the US in enforcing the blockade. The UK and France said on Monday they would co-host a summit with more than 40 countries participating to discuss how to safeguard shipping through Hormuz, adding that their participation will begin "when the conflict ends". Trump, who last month said he expected the war to end within "four to six weeks", said on Monday that he would stick to his original timeline. "Right now there's no fighting. Right now we have a blockade. They're doing no business." The US and Iran agreed to a ceasefire through 21 April to allow for diplomatic talks to hash out a deal. Iran's military capacity has been obliterated, Trump said. "Their navy is gone, their air force is gone, their anti aircraft is gone, their radar is gone, and their leaders are gone." But in a social media post Monday morning, Trump acknowledged that Iran has retained its fleet of speedboats, warning that "If any of these ships come anywhere close to our BLOCKADE, they will be immediately ELIMINATED." By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
NY weighs new yardstick to set climate goals
NY weighs new yardstick to set climate goals
New York, 13 April (Argus) — New York governor Kathy Hochul (D) is asking state lawmakers for more time to reduce emissions. Potentially more important is how the state actually measures them. The state's leaders, at loggerheads over climate policy and other issues, have already blown past a deadline to agree to a new budget. Hochul frustrated progressives by pushing for changes to the state's 2019 climate law, which not only mandates deep emissions reductions but also includes a bespoke system for tracking climate impacts that discourages natural gas and some biofuels. New York requires a 40pc reduction in economy-wide greenhouse gas (GHG) emissions by 2030 from 1990 levels and an 85pc drop by 2050. But the state's unique emissions-accounting method effectively requires deeper cuts to emissions than targets suggest. Environmentalists say this system will speed New York's transition to renewables and leave the state less exposed to future oil supply shocks. But it also threatens higher near-term energy costs in a state that burns more oil for home heating than any other, where natural gas is the largest source of electricity and where driving predominates outside public transit-connected New York City. Hochul backed off prior efforts to change the GHG accounting rules. Now campaigning for re-election on a platform of making the high-cost state more affordable, she insists changes are necessary. Methane pain State law requires New York to track the warming of GHGs on a 20-year timeline, instead of the 100-year timeline used by nearly all other states. That difference means New York treats a tonne of methane, which packs a bigger punch than CO2 but dissipates in the atmosphere more quickly, as having around three times more climate impact than other states do. Under typical emissions accounting, New York's emissions in 2023 were 24pc below 1990 levels. But according to the state's unique system, they only fell by 14pc over that period. The difference reflects the state's reliance on natural gas for heat and power. New York's system then leaves fewer options to bridge that gap. While incentives in California have helped make renewable diesel more common there than its petroleum-based counterpart, New York treats many biofuels — even if made from waste — as akin to fossil fuels by factoring in tailpipe emissions but not some upstream benefits. Renewable diesel brought into New York would not just count as only slightly better than oil, but it would also count the same whether made from recycled cooking grease or from crops, according to detailed estimates in an energy plan released by state officials last year. New York would consider more production emissions in-state, effectively treating renewable diesel made locally as worse for the climate than imports. The reverse is true for renewable natural gas, which counts as producing negative emissions if made in-state — since turning rotting dairy manure into energy avoids methane emissions — but similar to fossil-fuel natural gas if made elsewhere. While the California system has its critics, the New York energy plan says explicitly that the GHG accounting required by law "creates an incomplete picture" of biofuels' climate impacts. But the system is by design reflecting the wishes of progressive lawmakers who helped pass these requirements into law before Hochul took office, as well as those of environmental justice groups that hold sway in the Democratic-controlled state. Advocates want to stop burning any fuels that worsen air quality and think states like California have overstated the climate benefits of natural gas and biofuels at the expense of efforts to electrify cars and homes. Hochul, backed by business groups, disagrees. A recent memo prepared for her by a state energy agency estimated that polluters will have to pay far more for their emissions than they do in other states — as much as $180/tonne by 2030 — because of "differing accounting standards" and "inflexible" targets, and that fuel prices would spike. Carbon market cop out That memo gets at the core of the debate: rising energy costs are taking precedence in Hochul's policy calculus, putting the future of a carbon market in question. A task force of policy advisors in 2022 recommended a carbon market as the best option to achieve state climate targets. The program, similar to systems in California and Washington, would require fuel suppliers, industrial facilities and others to buy a dwindling pool of carbon allowances from the state. But the Hochul administration missed a 2024 legal deadline to have that plan in place and has been vague on when it will release even draft rules. After environmental groups sued, a state court directed the Hochul administration to release carbon market regulations . Hochul has since been more direct about her concerns and called for punting the rollout of the market to 2030. Environmentalists resent Hochul's argument that New York's targets are infeasible when her administration is slow-walking the rollout of a plan to achieve them. But they recognize the power governors wield in New York's mostly closed-door budget process. One potential compromise that has been discussed among advocates is implementing a carbon market with more typical emissions-accounting rules, while preserving the 20-year warming timeline for other state programs. This could address cost concerns while containing the backlash from climate advocates. It could also leave the door open for linkage with other carbon markets, which would be exceedingly difficult without aligning rules across different programs. Without changes, biofuel supporters also fear that a state "clean transportation standard" that regulators are studying could cut out many of the fuels rewarded by California. Lawmakers likewise have expressed resistance to sweeping changes. Senator Environmental Conservation Committee chair Pete Harckham (D), an influential voice on climate, has signaled some openness, however, to "modest adjustments". "We're committed to working with the governor to find reasonable solutions here, but in my humble opinion, a complete rollback of the state's climate law is untenable," Harckham said last week. By Cole Martin and Ida Balakrishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US blockade could hit third of remaining Hormuz traffic
US blockade could hit third of remaining Hormuz traffic
London, 13 April (Argus) — As much as 36pc of all tanker traffic transiting the strait of Hormuz since the start of the US–Iran war either departed or were bound for Iranian ports, the sort of voyage Washington has indicated will be restricted from today as part of its naval blockade. Of the 148 tankers that have transited the strait since 28 February, Iranian-linked voyages accounted for 53. Among these were 20 very large crude carriers (VLCC), five Suezmax, two Aframax and ten Medium Range (MR). The US on Sunday said it will impose a naval blockade against vessels of all nationalities entering or departing Iranian ports, beginning at 10:00 ET (14:00 GMT) on 13 April. US president Donald Trump also warned ships complying with Iranian transit conditions, including the payment of tolls, could be stopped in international waters. The US plan is to allow navigation through the strait of Hormuz to and from non Iranian ports, much of which is being prevented by Iranian control of the strait. This move follows talks between the US and Iran in Islamabad over the weekend that ended without agreement and failed to reopen the strait. Since a ceasefire declared on 7 April, the waterway has largely remained under Iranian control, and the few ships that have passed through it appear to have either paid an unofficial toll to Tehran — believed to be the equivalent of $1/bl for crude tankers — or to have made other arrangements with the Iranian government. Iran said it would respond to a US naval blockade of Hormuz by encouraging Yemen's Houthis to resume attacks in the Bab al-Mandeb waterway connecting the Red Sea to the Indian Ocean. Tehran also threatened to target ports across the Mideast Gulf if its own facilities are attacked. The ceasefire agreement will be in place until 21 April, but it could be extended. By Erika Tsirikou Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our gas and power products
Both the natural gas and power services have a long track record of providing well researched pricing, high quality analysis and market intelligence to our clients.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
