Iraq is considering setting up a sovereign wealth fund into which it would deposit 1 percent of oil export revenues each month to finance renewable energy projects and build up Continue Reading
The statement last week from Iraq’s Oil Minister, Ihsan Abdul Jabbar, that the newly resurrected Iraqi National Oil Company (INOC) has been given government approval to acquire ExxonMobil’s 32.7 percent Continue Reading
China doubled down on imports of Iranian and Venezuelan crude in 2021, taking the most from the U.S.-sanctioned regimes in three years as the nation’s refiners brushed off the risk Continue Reading
The Iraqi government is attempting to take over ExxonMobil’s operating stake in the West Qurna 1 oil field rather than approve a sale to international investors. In a Jan. 5 Continue Reading
December exports up 0.5% to 3.677 million b/d Quota rose to 4.237 mil in Dec b/d, vs 4.193 mil b/d in Nov January quota stands at 4.281 mil b/d Iraq’s Continue Reading
Highlights Cabinet grants approval for INOC’s takeover of stake: minister ExxonMobil had filed lawsuit last year over stake sale ExxonMobil wanted to sell stake to a third party The Iraqi Continue Reading
Oman continues to expand its cooperation with China as it looks to build out its petrochemical sector Oman’s options to raise money through conventional bond offerings remain constrained China already Continue Reading
The secret transfers usually take place at night to evade detection by regional coast guards. The ships anchor in the Persian Gulf just outside the territorial limits of the United Continue Reading
Image caption, Images of the victims were displayed during an event marking the first anniversary of the tragedy in Toronto last year A Canadian court has awarded C$107m (£62m; $84m), Continue Reading
Iran announced plans last week to boost oil production from its supergiant South Azadegan oil field to at least 320,000 barrels per day The development of the West Karoun fields Continue Reading
UAE-flagged RWABEE hijacked off Yemen’s coast: Saudi-led coalition Vessel on way from Yemen’s Socotra island to Saudi Arabia’s Jazan Port RWABEE was carrying medical field equipment A Saudi-led coalition has Continue Reading
The ongoing JCPOA agreement negotiations with Iran are not going as smooth as some media seem to suggest. In stark remarks, several European and U.S. diplomats have stated that the Continue Reading
After a lengthy layoff, Iran appears poised to officially rejoin the ranks of oil exporters–maybe as early as 2022–if Tehran and Washington are able to strike a new nuclear deal Continue Reading
Federal Iraq pumped 3.277 mil b/d, just 4,000 b/d more than Nov Production quota was 4.237 mil b/d in Dec vs 4.193 million b/d in Nov OPEC+ set to meet Continue Reading
Iran said Thursday it launched a rocket with a satellite carrier bearing three devices into space, though it’s unclear if any of the objects entered orbit around the Earth. The Continue Reading
An Iraqi oil pipeline burns after sabotage by anti-U.S., pro-Saddam militants Sept. 8, 2003 near Kirkuk, in northern Iraq. Credit: Scott Peterson/Getty Images It’s 6 p.m. and the pink-tinged skies Continue Reading
Iran for the second time this year ordered a shutdown of authorized cryptocurrency mining centers as part of efforts to ease the strain on the country’s power plants and avoid Continue Reading
Siahouk, a shepherd, had gone to get water from a pond when he was attacked Lying on the floor of his modest home, Siahouk was in excruciating pain from the Continue Reading
Iraq’s Federal Supreme Court on Monday upheld the results of the country’s October parliamentary elections , resolving a dispute that had stalled the formation of a new government as Iran-backed Continue Reading
Iran will prioritize an agreement to be able to legitimately return to exporting its oil during the new round of nuclear talks that began in Vienna today. “The most important Continue Reading
Indirect talks between Iran and the United States on salvaging the 2015 Iran nuclear deal resumed on Monday with Tehran focused on one side of the original bargain, lifting sanctions Continue Reading
Iran looks to capitalize on record natural gas prices A key focus of this ambition will be Iran’s supergiant non-associated gas field of South Pars Elsewhere, the immediate focus for Continue Reading
Saudi Arabia’s exports soared in October as the world’s biggest oil exporter benefited from higher crude prices. The value of exports jumped to 106.2 billion riyals ($28 billion) from 55.9 Continue Reading
Emissions from oil industry set to climb for years Natural gas is dominant fuel in industry Global emissions set to grow in COVID-19 recovery The Middle East faces an uphill Continue Reading
Highlights EU envoy urges sides to ‘pick up the pace’ in eighth round Platts Analytics predicts interim deal, partial sanctions relief No-deal scenario will test global spare capacity in mid-2022 Continue Reading
Petrochemical sector becomes key economic pillar in Iran Increasing output and revenues from its petrochemicals sector has always been key to Iran’s ‘resistance economy’ model Petrochemicals have higher profitability margins Continue Reading
The worst drought in decades has led to protests as climate change exposes decades of policy failure. Iranians flooded the barren riverbed of the Zayandeh Rud, in the ancient town Continue Reading
Iran’s top diplomat to Houthi-controlled Yemen has died of Covid-19 after a hastily arranged flight out of the country over the weekend, Iranian officials said. Hassan Irloo, a member of the Islamic Continue Reading
Highlights Iran to add 130 Mcm/d of gas capacity in 2022 Finalizing a gas import deal with Turkmenistan Iran also wants to extend gas export deal to Turkey Iran will Continue Reading
A significant oil find in UAE’s offshore advances the country’ plans to reach a production of 5 million bpd by 2030 The discovery is likely to have recoverable reserves of Continue Reading
Iran’s top diplomat in Yemen flew out of the country on Saturday in an agreement between Houthi militants controlling the capital and Saudi Arabia, according to regional officials. Hassan Irloo, Continue Reading
The worst drought in decades has led to protests as climate change exposes decades of policy failure. Iranians flooded the barren riverbed of the Zayandeh Rud, in the ancient town Continue Reading
Highlights Dubai Airports revises up its forecast for 2021 to 28.9 mil passengers Dubai International handled 25.9 mil passengers in 2020, down 70% on 2019 Middle East jet fuel demand Continue Reading
A banner advertises plans for a greener and more sustainable city. The crown prince’s next grand plan is to defy the skeptics and turn Riyadh into a greener, cooler city Continue Reading
Kurdish Peshmerga forces oversee digging of defensive trenches in the village of Lheiban , Iraq, Tuesday, Dec. 7, 2021. For the first time since the defeat of Islamic State, federal Continue Reading
Iran has agreed to let the United Nations atomic agency monitor its production of critical centrifuge parts, ending a three-month deadlock and averting a fresh diplomatic clash with the U.S. Continue Reading
Tribesmen living near the Gharraf oil field in Dhi Qar province shot a rocket-propelled grenade (RPG) and heavy machine gun bullets at police in anger over water shortages, as environmental Continue Reading
China and Qatar have signed another long-term LNG contract, with Qatar set to send 1 million tons per annum to China starting in 2024 As a key U.S. ally and Continue Reading
Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Iran said it won’t allow United Nations nuclear inspectors to access a centrifuge workshop Continue Reading
Saudi Arabia and the UAE are leading the charge for hydrogen in the Middle East. With both countries making announcement after announcement of new hydrogen projects, it’s clear that they Continue Reading
Saudi Arabia’s energy minister warned traders against shorting oil prices. Saudi Arabia’s energy minister warned traders against shorting oil, saying OPEC+ could react quickly to any fall in prices. OPEC+, Continue Reading
Saudi minister says FDI up 33% in first six months of 2021 Investment remains below earlier targets Riyadh raises stakes with more ambitious investment goals Lack of major FDI announcements Continue Reading
The National Iranian Oil Company (NIOC) will change from January 1 the benchmark against which it prices its crude for Europe and the Mediterranean—a move which traders tell Argus could Continue Reading
Saudi Arabia expects to book its first budget surplus in close to ten years in the next financial year, coming in at 2.5 percent of gross domestic product or $24 Continue Reading
Saudi Arabia said global oil production could drop 30% by the end of the decade due to falling investment in fossil fuels. “We’re heading toward a phase that could be Continue Reading
The stated U.S. aim when indirect U.S.-Iranian talks resume this month is to see if the two can revive a 2015 nuclear deal, but Washington’s unspoken goal may be to Continue Reading
Israel asked the Biden administration last week to speed up the delivery of refueling tankers that could prove critical to striking Iran’s nuclear facilities, but it was told that the Continue Reading
French Foreign Minister Jean-Yves Le Drian and German Foreign Minister Annalena Baerbock arrive for a family photo at the Museum of Liverpool during the G7 summit of foreign and development Continue Reading
1 of 2 In this satellite photo by Planet Labs Inc., a support vehicle stands parked alongside a massive white gantry that typically houses a rocket on the launch pad Continue Reading
Iraq’s semi-autonomous Kurdistan Regional Government (KRG) has run up nearly $5 billion worth of debt to power producers — a major factor complicating efforts to improve electricity service and attract Continue Reading
