Enverus Intelligence

Tensions at the Strait of Hormuz, one of the world's most critical oil shipping routes, have sent global energy markets into a tailspin. In this episode, host Gibson Scott sits down with Al Salazar, Head of Macro Research, to break down what's actually happening, what the markets are getting wrong, and what comes next.

When threats to close it surface, the entire global energy market feels it. Gibson and Al unpack the chaotic weekend of conflicting statements, military movements, and price swings, and explain why traders are increasingly tuning out the headlines and watching the ships instead.

They cover what oil prices could look like if the disruption drags on, why equity markets seem to be brushing off the risk, and how the natural gas story might actually be the bigger long-term concern. They also explore a provocative idea: that this conflict could be doing more to accelerate the global energy transition than a decade of climate policy.

Host Patrick Rutty connects with Shankar Krishnan and Chester Chua to have a look at Pakistan and New Zealand exploration activity, take note of modernized pipeline legislation in Australia’s Northern Territory, and talk about new Eni-Petronas JV SEARAH as well as Eni’s $15 billion in Kutei Basin gas FIDs.

Following publication of the South America Upstream Fundamentals report, Arthur Keep joins host Bruce Walker to discuss the region's continued success in bringing resources to market, most notably Brazil and Guyana, and highlights the emergence of Uruguay as an exploration hotspot.

Dane Gregoris and Al Salazar return to unpack the latest twist in the Hormuz Energy Crisis: a ceasefire announcement that the market celebrated prematurely. While equity markets rallied, oil prices told a different story, and Dane and Al dig into why. The conversation looks past the headlines to examine what's happening at the physical level, where flow disruptions through the Strait of Hormuz remain largely unresolved, ships are moving under Iranian-imposed toll conditions, and a strike on a major Gulf facility the morning of recording suggests the situation is still evolving.

The broader discussion weighs whether financial markets are correctly looking past the crisis, or simply waiting for North American supply tightness to bring the picture into focus. Dane and Al walk through bull and bear scenarios, the structural constraints facing OPEC spare capacity, and why EIR is holding its counter-consensus price forecast of $95/bbl Brent for the rest of 2026 and $100/bbl for 2027, even after a significant single-day selloff.

Host Patrick Rutty, EMEA Senior Regional Manager Tom Richards, and Senior Analyst Sheik-Imran Azim Rahman discuss the latest developments in Libya – including continued Shell-AGOCO discussions and Eni’s latest big discovery – express skepticism about the viability of Egypt importing large quantities of Libyan oil by truck, register surprise at the sudden Malta block awards and note Hunt Oil’s pronouncement of interest in Syria.

SSA Regional Manager Jimmy Boulter and host Patrick Rutty try to make sense of Liberia’s offshore block negotiations with six junior Nigerian and U.S. companies, take note of Etu’s creatively-funded pre-emption of Maurel et Prom and BW Energy’s attempt to acquire Angola assets, and speculate as to the ultimate outcome of Afentra’s current “strategic review” and potential full sale.

It has now been five weeks since the outbreak of the war in Iran. Amid the surge of market commentary, analysis and forecasting surrounding the Hormuz Energy Crisis, EIR is offering its differentiated perspective. Dane Gregoris, Head of Oil & Gas Research, and Al Salazar, Head of Macro Research, walk through EIR’s revised price outlook, which now anticipates Brent averaging $95/bbl for the remainder of 2026 and $100/bbl for 2027. They also assess how ongoing flow disruptions are drawing down inventories, leaving global stocks depleted and potentially setting the stage for a lengthy and costly rebalancing period.

The discussion highlights several critical assumptions, including sensitivities tied to the duration of the conflict, the anticipated muted response from U.S. shale, and the equity market’s caution in pricing a rapidly shifting commodity environment. They also explore the significant, yet often overlooked shock to global gas markets amid the broader turmoil. Just as importantly, the two share key client feedback and broader sentiment on how the energy landscape may evolve once the fog of war eventually lifts.

In this episode, Graham is joined by Matt Toews, Chief Technology Officer at Eavor, to examine how engineered geothermal systems could unlock scalable, low-carbon baseload power and why closed-loop technology is changing how geothermal is built, financed and deployed. This episode was recorded on January 29th, 2026.

Europe Regional Manager Anne Jones, EMEA Sr. Regional Manager Tom Richards and host Patrick Rutty ponder the lengthy work commitment timelines on CVX’s newly awarded deepwater Greece blocks, rejoice in the imminent development of Adura’s West of Shetland Rosebank field and make note of independent MAU’s 2H26 plans to explore onshore Italy – only the country’s second exploration well since 2017.

In this episode, we welcome Alex Wylie, founding president and CEO of LibertyStream, to unpack how the company is reimagining lithium production by tapping into the oilfield’s existing saltwater disposal network. With active production underway in the Permian and development expanding into the Bakken, LibertyStream offers a real-world look at how direct lithium extraction (DLE) can scale faster and cheaper by building on infrastructure that already exists. This episode was recorded December 18th, 2025.