Israel accuses Iran over deadly oil tanker attack
EPA Israeli Foreign Minister Yair Lapid blamed the incident on “Iranian terrorism” Israel has accused Iran of being behind an attack on an oil tanker in which two crew members Continue Reading
Kurdistan gives oil companies 18-month deadline to end gas flaring
The Kurdistan Regional Government’s Ministry of Natural Resources (MNR) has issued a directive to field operators that they have 18 months to halt the flaring of associated gas that is Continue Reading
Value Of Saudi Oil Exports Jumps 147% In May
Higher oil prices and higher exports resulted in a 147-percent jump in the value of Saudi Arabia’s oil exports in May 2021 compared to May 2020, data from the Kingdom’s Continue Reading
The Most Important Oil Project Of The Year Is Set To Go Live
Iran’s Jask oil terminal is now fully set to start loading vast quantities of crude to any major buyer in the world via the Gulf of Oman, with the first Continue Reading
Iraq Wants Other U.S. Oil Company To Replace Exxon
Iraq wants another U.S. company to replace Exxon as a shareholder in the West Qurna 1 field, one of the country’s largest after the supermajor leaves the country. “Exxon Mobil Continue Reading
Why The U.S. Wants China To Stop Importing Iranian Crude
In an attempt to increase pressure on Iran in order to push through a nuclear deal with Iran, the U.S. is considering cracking down on Iranian oil exports to China. Continue Reading
Growing Activist Pressure Puts Key Middle East Oil Deal On Hold
A UAE oil transport deal is now on hold due to environmental concerns from Israel’s environmental protection ministry following pressure from activists. The agreement between the UAE and Israel expects Continue Reading
Iraq Oil Expert: Baghdad Shouldn’t Replace Oil With Renewables
It is not in Iraq’s best interest to adopt renewable energy at the expense of fossil fuels, energy and oil expert Hamza al-Jawaheri told local Shafaq News Agency in an Continue Reading
China To Build Airport, Houses Under Oil-For-Projects Deal In Iraq
Chinese firms are set to build an airport and 90,000 houses in Iraq as part of a 2019 agreement for crude supply in exchange for projects, an Iraqi official was Continue Reading
Iraq to sell Lebanon 1 mil mt/year of heavy fuel oil in barter deal
Lebanon will resell fuel oil Iraq will get ‘goods and services’ from Lebanon Iraq has a surplus of heavy fuel oil Iraq has agreed to sell Lebanon 1 million mt/year Continue Reading
Iraq in fuel deal with Lebanon to boost its faltering power supply
Iraq has signed an agreement allowing the cash-strapped Lebanese government pay for 1 million tonnes of heavy fuel oil a year in goods and services, helping Lebanon ease its acute Continue Reading
Middle East power crisis: Electricity shortages strike Iran, Iraq, Lebanon and Syria – The Washington Post
Record heat waves and crippling energy shortages across much of the Middle East are plunging homes and businesses from Lebanon to Iran into darkness and stirring unrest as poor families Continue Reading
Middle East Oil Giants Grapple With Cyberattacks
As the global oil and gas markets are recovering from the steep sell-off last Monday, threats in the market are not just linked to demand-supply concerns. Cybersecurity specialists reported this Continue Reading
OPEC, Energy Industry Should Thank Saudi Arabia For Oil Price Recovery
OPEC—as well as the entire energy industry—should be thanking Saudi Arabia for its “magnificent” job in managing their production during the Covid-19 pandemic, according to Robert Yawger, executive director of Continue Reading
Can Iran Avoid A Major National Uprising?
As Iran is preparing for the inauguration of elected president Ebrahim Raisi, a move that will consolidate the power of the ultra-conservative forces that support Ayatollah Ali Khamenei, its citizens Continue Reading
U.S. mulls crackdown on Chinese imports of Iranian oil
The United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran may not return to nuclear talks or may adopt Continue Reading
The Saudi Prince of Oil Prices Vows to Drill ‘Every Last Molecule’
Prince Abdulaziz bin Salman Abdulaziz bin Salman, the most powerful man in petroleum, navigates unruly OPEC+ nations, huge swings in price and production—and the end of fossil fuels. The Boeing Continue Reading
U.S. Threatens Iran With New Sanctions If A Nuclear Deal Is Not Reached
After six months of President Biden in office, and repeatedly dashed hopes at a nuclear deal with Iran, failing to come to an agreement means instead of lifting sanctions the Continue Reading
Iraq’s power cuts seen exacerbated by Iranian outages, Islamic State attacks on infrastructure
Iranian gas, electricity imports hit by domestic outages Islamic State intensifying attacks on power lines, pylons Iraq under pressure to wean itself off Iranian imports Iraq’s power cuts this summer Continue Reading
Protests over water shortages in Iran turn deadly amid drought, rolling blackouts
Residents in southwestern Iran have held large protests for nearly a week, denouncing the country’s leadership amid severe water shortages in the region, according to activists and video footage. At Continue Reading
Iraq production steady in June as OPEC eases quota policy
Iraq produced 4.05 million barrels per day (bpd) of crude oil in June, slightly lower than May output of 4.10 million bpd , according to an independent field-by-field tally of Continue Reading
Iran Claims Nuclear Deal Draft Is Incompatible With New Iranian Law
The draft agreement between Iran and world powers over the possible restoration of the so-called nuclear deal is incompatible with a recently passed Iranian law, a government spokesman in Tehran Continue Reading
Hackers Put Aramco’s Data For Sale On The Darkweb For $5 Million
Saudi Aramco has suffered a data breach in which cyber attackers have stolen 1 terabyte of proprietary data of Saudi Arabia’s oil giant and are selling it on the dark Continue Reading
Multiple Basra fires expose poor safety standards
Lax oversight, outdated infrastructure, and extreme heat combust as Iraq’s oil capital suffers three fire emergencies in a single day. Iraqi fire-fighting teams battle a blaze at the West Qurna Continue Reading
Saudi Arabian crude oil exports hit four-month high in May
Saudi Arabia’s crude oil exports rose in May to 5.649 million barrels per day (bpd), their highest level in four months, Joint Organisations Data Initiative (JODI) said on its website Continue Reading
U.S. Weighs New Sanctions on Iran’s Oil Sales to China if Nuclear Talks Fail –
The U.S. is considering tighter sanctions on Iranian oil sales to China as a way to encourage Tehran to conclude a nuclear deal and raise the costs of abandoning stalled Continue Reading
US Considers Choking Off Iran’s Oil Exports To China Amid Stalled Nuclear Talks
The United States is considering clamping down on Iran’s rising oil exports to China as a tool to either force Tehran to conclude a nuclear deal or punish it if Continue Reading
Kuwait’s oil output to fall in 2021, breakeven at +$90/b: S&P Global Ratings
Sovereign rating downgraded to A+ Kuwait’s economy will likely grow 0.5% in 2021 Oil makes up 90% of government revenue Kuwait’s oil sector is expected to contract in 2021 due Continue Reading
Iran set to start first oil export terminal on the Gulf of Oman
Would be Iran’s 2nd main oil terminal Rouhani wants it running by Aug. 3 Loading capacity is 350,000 b/d Iran is set to start loading crude oil at the Jask Continue Reading
Kuwait Credit Rating Cut for Second Time in Two Years by S&P
Kuwait was downgraded by S&P Global Ratings for a second time in less than two years after a fall in oil revenue and increased spending pressured the Persian Gulf nation’s Continue Reading
Iraq’s cabinet appoints former oil minister Ghadhban to INOC
Despite legislative delays to full implementation, Iraq’s government has approved the next steps to a new national oil company. Thamir Ghadhban, then-Deputy Prime Minister for Energy Affairs and Oil Minister Continue Reading
‘I numb myself’: Hospital fire deepens Iraq’s COVID crisis
No beds, medicines running low and hospital wards prone to fire — Iraq’s doctors say they are losing the battle against the coronavirus. And they say that was true even Continue Reading
Kuwait Looks At Huge Wealth Fund To Move Beyond Oil
Kuwait’s life-after-oil fund may have become one of the world’s biggest sovereign wealth funds thanks to the country’s healthy oil industry, as it continues to prepare for a life after Continue Reading
U.S. Waives Sanctions On Frozen Iranian Oil Funds
The United States has decided to temporarily waive sanctions on Iranian oil funds abroad but without returning Tehran’s access to its bank accounts in Japan and South Korea. “Allowing these Continue Reading
FEATURE: Iran’s summer of power cuts could be worst yet with new capacity on hold
Iran, despite being OPEC’s fourth-biggest crude oil producer, faces an unprecedented summer of electricity cuts as power plant disruptions and a lack of investment in new capacity leave output far Continue Reading
Exclusive: Iran not ready for nuclear talks until Raisi takes over
Iran is not prepared to resume negotiations on coming back into compliance with the 2015 nuclear deal until Iranian President-elect Ebrahim Raisi’s administration has begun, a diplomatic source said on Continue Reading
OPEC Spat Spotlights Saudi Arabia’s Struggle to Kick Oil Dependency – WSJ
Saudi Arabia’s crown prince pledged five years ago to unshackle the economy from oil by 2020. But as the world’s top crude exporter seeks to maintain growth and generate jobs, Continue Reading
Why Saudi Arabia Is Likely To Win The OPEC+ Standoff
OPEC+ could take until August to decide whether to adjust production baselines, Arab News reported , citing JP Morgan analyst Christian Malek. According to Malek, the oil cartel could take Continue Reading
In first for Gulf, UAE opens embassy in Israel, hails trade ties
The United Arab Emirates on Wednesday become the first Gulf state to open an embassy in Israel, as its envoy hailed the trade and investment opportunities that closer ties would Continue Reading
China’s CNCEC to build oil refinery, petrochemical plant in southern Iraq – statement
Iraq has picked China’s state-run CNCEC to build an oil refinery at the port of Fao on the Gulf, the oil ministry said on Tuesday. The refinery in Fao will Continue Reading
‘Indirect but active’ talks being held with Iran on U.S. detainees -State Dept.
The United States has been engaging in “indirect but active” discussions to secure the release of U.S. detainees in Iran, State Department spokesman Ned Price said on Tuesday, adding that Continue Reading
Iran Nuclear Deal 90% Done: Russian Diplomat
About 90 percent of the work on the Iran nuclear deal has been done, but the 10 percent that remains might prove a tough nut to crack. That’s according to Continue Reading
Baghdad releases $138 million to KRG days before Kadhimi’s Washington visit
The budget transfer relieves some financial pressure on Erbil, though regular payments going forward are hardly assured. KRG Prime Minister Masrour Barzani (right) receives Iraqi Prime Minister Mustafa al-Kadhimi (left) Continue Reading
UAE’s $1 bil green ammonia project to start in 2024; targets Europe, US markets
Initial output will be 40,000 mt/year, to reach 200,000 mt/yr in 2026 Owners of projects talk to potential investors to hold stakes Project to be located in Khalifa Industrial Zone Continue Reading
Huge Dividend Cripples World’s Largest Oil Company
The transformation of Saudi Arabia’s flagship asset, Aramco, from perpetual cash-generation machine into a debt-laden giant is set to pick up pace in the coming weeks with a series of Continue Reading
Saudi Aramco drops Morgan Stanley on gas pipelines deal -sources
Saudi Aramco has dropped Morgan Stanley (MS.N) as an adviser for the sale of its gas pipelines and picked JPMorgan (JPM.N) and Goldman Sachs (GS.N) for the role, three sources Continue Reading
Middle East adding solar capacity despite some delays, rising polysilicon costs
The Middle East is moving ahead with solar projects, seeking to pass on soaring polysilicon costs, even as some plans have been delayed due to the pandemic, the region’s solar Continue Reading
Pandemic worsens for Iraq as Delta variant and vaccine hesitancy take root
Iraq’s covid-19 infection rate has peaked for a third time, to a record high, putting dire pressure on an overloaded health care system. A special team of the al-Hashid al-Shabi, Continue Reading
Lebanon On The Brink As Fuel And Electricity Shortages Grip The Country
On the last day of the month, armed protesters took to the streets of Tripoli. They were outraged by the power outages and the story of a child on life Continue Reading
Lebanese Power Stations Shut Down as Crisis Deepens
Lebanon is struggling with severe electricity and water shortages after two of the country’s main power plants ran out fuel, the latest manifestation of a financial crisis that shows little Continue Reading