Genel Down on Iraqi Kurdistan’s Plan to Scrap Projects
Genel Energy Plc fell the most in more than a year in London trading after saying Iraq’s Kurdish authorities plan to scrap its Bina Bawi and Miran natural gas projects. Continue Reading
Saudi Arabia Raised June Crude Oil Exports To Five-Month High
Saudi Arabia’s crude oil exports hit a five-month high in June at nearly 6 million barrels per day (bpd) as the world’s top oil exporter, and the entire OPEC+ group Continue Reading
Hezbollah Warns U.S., Israel Not To Stop Iranian Oil To Lebanon
Lebanese Shiite group Hezbollah, backed by Iran, warned on Thursday the United States and Israel not to try to interfere with a shipment of Iranian fuel oil that is en Continue Reading
SAUDI DATA: Crude exports for second month in June as output cuts unwind
Highlights Direct crude burn at nine-month high Refined product exports highest since May 2020 Kingdom unwinding extra output cuts Saudi Arabia’s exports of crude oil in June rose to a Continue Reading
Iran’s Huge Caspian Gas Find Is A Geopolitical Gamechanger
Iran last week revealed a huge new gas deposit located in the Iranian sector of the Caspian Sea. The ‘Chalous’ structure is to be developed with the intention of forming Continue Reading
Hezbollah Warns Israel, U.S. as Iranian Fuel Sails for Lebanon
Militant group Hezbollah appeared to warn Israel and the U.S. against intercepting an Iranian ship carrying fuel for Lebanon as the country reels from a crippling power crisis. The vessel Continue Reading
Iran’s LPG exports near 2-year high in July, Aug on China demand
Deep discounts for Iran’s LPG attract Chinese buyers Pakistan, Bangladesh also take small amounts from Iran Iran’s LPG exports are set to stay near two-year peaks of around 500,000 mt Continue Reading
New Wave Of COVID Is Nightmare For Gulf Oil Producers
The resurgence of COVID in China could not have happened at a worse time for Middle Eastern producers. Saudi Arabia brought back all its 1 mbpd voluntary production cut and Continue Reading
Latest energy sector attacks underscore need to fast-track security coordination
Suspected insurgents detonated explosives at the North Oil Company (NOC)-operated Bai Hassan oil field and on a key electricity transmission line from Erbil to Kirkuk on Sunday, the latest in Continue Reading
Iran accelerates enrichment of uranium to near weapons-grade, IAEA says
Iran has accelerated its enrichment of uranium to near weapons-grade, the U.N. atomic watchdog said in a report on Tuesday seen by Reuters, a move raising tensions with the West Continue Reading
Iran Lifts Production Capacity of Uranium Close to Weapons Grade
Iran has nearly doubled its enrichment capacity dedicated to purifying uranium close to the levels required for nuclear weapons, signaling it won’t de-escalate its atomic activities before meeting again with Continue Reading
Aramco Is Quietly Shedding Some Of Its Gas Pipeline Assets
Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A sale that large for Continue Reading
Islamic State Attacks Iraqi Oil Field
An attack with an explosive device on an oil field in the northern Iraqi region of Kirkuk was blamed on Islamic State militants, according to an unnamed source who spoke Continue Reading
Large Methane Cloud in Iraq Coincided With Gas Pipeline Leak
A pipeline run by Oil Pipelines Co. in Iraq leaked liquefied petroleum gas on July 20, close to where a large plume of the super-potent greenhouse gas methane was detected. Continue Reading
Aramco Is in Advanced Talks on Up to $25 Billion Reliance Deal
Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries Ltd. ’s oil refining and chemicals business, people with knowledge of the matter Continue Reading
Iran Oil Output Falls To 40-year Low In 2020
Iran’s crude oil production fell to the lowest in 40 years, according to an updated analysis by the U.S. Energy Information Administration. At less than 2 million bpd, the EIA Continue Reading
Iran Falls Drastically Short Of Renewable Energy Target | OilPrice.com
Iran has met just one-fifth of its renewable capacity installation target for the five-year period between 2016 and 2021, also because the U.S. sanctions imposed in 2018 significantly slowed down Continue Reading
Why An Oil Deal Between Kurdistan And Baghdad Is Unlikely
The recent transfer of IQD200 billion (US$137 million) from the Federal Government of Iraq (FGI) in Baghdad to the semi-autonomous region of Kurdistan’s government (KRG) in Erbil raised hopes that Continue Reading
Devastated by war, Yemen’s still surviving oil and gas sector needs peace to recover
Highlights Oil output has plummeted to below 100,000 b/d TotalEnergies, OMV players in Yemen Petsec Energy could restart soon Yemen’s oil and gas industry could be at a crossroads after Continue Reading
New Iran Oil Minister Selected
Iran’s new president picked the former head of the country’s natural-gas company as oil minister, at a time when the Islamic Republic is engaged in fraught negotiations with world powers Continue Reading
Iraq wants to boost its oil output to 8 million b/d by 2027: minister
Iraq’s current oil production capacity is 5 mil b/d Minister previously said the target was 7 mil b/d capacity by 2027 Iraq’s OPEC+ quota is rising as coalition easing cuts Continue Reading
Why Russian Oil Giant Lukoil Won’t Give Up On This Huge Oilfield
There was always something that did not look quite right about Lukoil’s recent announcement that it was going to withdraw from Iraq’s huge West Qurna 2 oil field, located 65 Continue Reading
In Iran, slow vaccinations fuel anger in unending pandemic
Iranians are suffering through yet another surge in the coronavirus pandemic — their country’s worst yet — and anger is growing at images of vaccinated Westerners without face masks on Continue Reading
Iran President Picks Hawkish Diplomat to Lead Nuclear Talks
Iran’s new president picked a hawkish Foreign Ministry veteran with close ties to the military elite to replace Mohammad Javad Zarif as the nation’s top diplomat, underscoring the shift in Continue Reading
Baghdad Says Iran Halted Electricity Exports To Iraq
Reduced hydropower output in Iran amid a water scarcity has prompted Tehran to suspend electricity exports to neighboring Iraq, which relies on Iranian power and gas supply, Iraq’s Electricity Minister Continue Reading
Saudi Arabia’s Oil Industry Is Staging An Impressive Comeback
Aramco sees profits up nearly 300 percent as Sadia Arabia experiences a dramatic rebound from last year’s pandemic-hit oil demand. Thanks to prices that have increased by 30 percent since the Continue Reading
Saudi Aramco scouting for more deals to offer to investors
Saudi Aramco is scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a Continue Reading
Saudi oil giant Aramco sees profits soar by almost 300%
Reuters Saudi Arabian energy giant Aramco has seen its profits jump almost four times boosted by a rise in oil prices as demand recovers. The company added that the easing Continue Reading
France Pressures Iran To Rejoin The Nuclear Deal
French President Emmanuel Macron has urged Iran to resume talks on reviving the 2015 nuclear deal with world powers but Iran’s new hard-line president, Ebrahim Raisi, says that Iran’s “rights” Continue Reading
Saudi Aramco To Raise Oil Output Capacity by 550,000 Bpd By 2025
Saudi Aramco plans to have 550,000 barrels per day (bpd) more in oil production capacity by 2025 when the expansion projects on two major oilfields are complete, Saudi Arabia’s state-owned Continue Reading
Iraq, Kurdistan Region Look To Resolve Long-Standing Oil Dispute
The federal government of Iraq and the semi-autonomous region of Kurdistan pledged on Sunday to cooperate in resolving their differences in energy issues, hoping to turn “a new page” on Continue Reading
BofA: Saudi Aramco’s $75B Dividend Isn’t Enough
Saudi Aramco will have to raise its already massive annual dividend of $75 billion if it wants to remain competitive with other oil giants and raise its dividend yield to Continue Reading
Israel Says It’s Prepared To Attack Iran After Oil Tanker Drone Strike
Israel is prepared to attack Iran, Israeli Defense Minister Benny Gantz was quoted as saying on Thursday, a week after an Israeli-linked oil tanker was attacked in the Gulf of Oman by Continue Reading
Iran denies role in tanker attack, says seeks Gulf security
Iran on Saturday rejected as psychological warfare accusations that it was behind a deadly attack on a tanker off Oman’s coast, and said Tehran sought to enhance the security of Continue Reading
US gives Iraq another 120-day waiver to import Iranian power supplies
Highlights State Department expects Iraq to curb import dependence Renewal comes after Iraqi prime minister’s White House visit The US State Department has granted another sanctions waiver allowing Iraq to Continue Reading
Top U.S. Negotiator: Iran Nuclear Deal May Be Impossible
For every week that passes without any breakthrough between Tehran and Washington, the prospect of a restored JCPOA nuclear deal looks bleaker. Talks in Vienna have remained stalled for weeks, Continue Reading
How France Secured Major Oil And Gas Projects In Iraq
Even more so than Iran, Iraq remains the greatest relatively underdeveloped oil (and gas) frontier in the Middle East. It is little wonder, then, that it has been and remains Continue Reading
Possible vessel hijacking off Fujairah sparks new shipping risks, Iran tensions
Asphalt Princess seized by armed individuals, sources say Vessel about 61 nautical miles off the coast of Fujairah Incident follows deadly July 29 drone attack on tanker A vessel may Continue Reading
IRAQ DATA: Oil exports increase 1.4% in July amid higher OPEC+ quota
Highlights Iraq’s July exports rose to 3.278 million b/d July quota rose 4.016 mil b/d vs 3.954 mil b/d in June Quota will rise again in August Iraq’s total crude Continue Reading
Iran’s Rapid Oil Comeback Looks Less Likely After Tanker Attack
Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by shipping attacks in the past week, including a deadly drone strike on a tanker near the Gulf of Oman Continue Reading
Possible Ship Hijack Near Iran Ends as Mideast Tensions Run High
A suspected hijacking of a vessel near Iran has ended, the British Navy said Wednesday, days after a deadly drone attack on a tanker in the same area that the U.S and Continue Reading
OPEC+ leaves Iran behind as it starts hiking crude oil production
Highlights Easing OPEC+ quotas squeeze Iran’s market share Iran’s oil hopes rest on stalled nuclear deal talks New Iranian president will be inaugurated Aug. 5 Iranian President-elect Ebrahim Raisi takes Continue Reading
Saudi crown prince Mohammed strips religious leaders of powers
In May, the Saudi government barred the use of loudspeakers to amplify prayers and sermons at mosques and ordered that the volume of the traditional call to prayer, which has Continue Reading
Iran Uses Iraq To Tie Lebanon Into Massive Power Plan
Iran has spent a lot of its time, money, and lives of its direct and proxy military forces in building up its influence across the Shia Crescent of power in Continue Reading
U.S., Israel, U.K. Vow Action Against Iran on Tanker Attack
The U.S., Israel and the U.K. all vowed to respond to a deadly drone attack on an Israeli-linked tanker last week in a major waterway for global oil shipments that Continue Reading
Incoming Iran president says he will take steps to lift ‘tyrannical’ U.S. sanctions
Iran’s hardline incoming president Ebrahim Raisi said on Tuesday he will take steps to lift “tyrannical” sanctions imposed by the United States, after winning the formal endorsement of the country’s Continue Reading
July oil exports and revenues climb
With OPEC-plus pressure easing, Iraq increased exports slightly in July while higher oil prices drove monthly revenues to a 19-month high. A worker adjusts the valve of an oil pipe Continue Reading
Riding the oil price rebound: Gulf states to accelerate asset sales
Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy Continue Reading
Iran denies involvement in oil tanker attack off Oman coast as Israel, US consider options
Highlights Vessel Mercer Street targeted by armed drone on July 29 Attack killed two crew members amid heightened risk in Gulf Israel, US are considering ‘appropriate next steps’ Tehran — Continue Reading
Oil tanker attacked off Oman in Arabian Sea
An attack Thursday on an oil tanker managed by an Israeli-owned company killed two members of the crew when the vessel was apparently struck by an explosive drone, the ship’s Continue Reading