As industries around the world increasingly turn towards environmental, social and governance (ESG) strategies to support their recovery from the Covid-19 pandemic, focus is sharpening on sustainable construction in the Continue Reading
Iran has started pumping oil at a giant new reservoir at the offshore Abuzar oilfield in the Gulf, Iran’s oil ministry news service Shana reported on Tuesday. The Iranian Offshore Continue Reading
Highlights Basrah Medium grade to benefit from higher OPEC+ quota New grade most popular out of three Basrah crudes Iraq working to defend market share in India Iraq’s State Oil Continue Reading
For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation Continue Reading
Gulf oil producers are finding it difficult to diversify their economies away from their biggest export revenue contributor, and it may take them at least a decade to make any Continue Reading
Iran has seized 7,000 computers mining cryptocurrency in breach of a recent ban on the electricity-sapping activity, as the Islamic Republic continues to struggle with severe power shortage in the Continue Reading
A hardline victory in Iran’s presidential election has tilted the domestic balance of power towards the country’s anti-Western clergy and away from officials chosen by popular vote, a shift Tehran Continue Reading
Countries in the oil-exporting Gulf will remain heavily dependent on hydrocarbon production for at least the next ten years as efforts to diversify economies have made limited progress since the Continue Reading
Iranian President-elect Ebrahim Raisi said Monday that he opposes talks on limiting Tehran’s ballistic missile program and its support for regional proxy forces. Speaking in the Iranian capital at his Continue Reading
Deadly conflict between the separatist Kurdistan Workers’ Party (PKK) and the dominant ruling party of Iraqi Kurdistan is threatening to shatter an informal truce that has largely kept the peace Continue Reading
News last week that U.K. oil super-major, BP, is working on a plan to spin off its operations in Iraq’s supergiant Rumaila oil field into a stand-alone company had an Continue Reading
Differences narrowed but not easy to bridge, Iran says Iran says onus mainly on U.S. to clinch new agreement U.S. puts onus on Iran, ‘fair distance’ still to any deal Continue Reading
When Iranian diplomats resume talks with Western officials to revive a battered nuclear deal, one name will stand out on the list of individuals Tehran wants removed from the U.S. Continue Reading
National security adviser Jake Sullivan said Sunday that preventing Iran from obtaining a nuclear weapon remains a “paramount priority” for the United States, emphasizing that diplomacy “is the best way Continue Reading
Prime Minister Bennett made the comments at a cabinet meeting on Sunday Israel’s prime minister has called on the US and its allies to “wake up” to the threat of Continue Reading
EPA Natanz is heavily protected, with its most sensitive machinery housed deep underground The long-running and undeclared shadow war between two of the Middle East’s most implacable foes, Iran and Continue Reading
Hardline judge Ebrahim Raisi leads Iran’s presidential election, an interior ministry official said on Saturday, a day after millions of Iranians voted in a contest that critics boycotted over economic Continue Reading
Ultraconservative cleric Ebrahim Raisi swept to a landslide win in Iran’s presidential election, potentially setting the oil-rich country on a more hostile course toward the West as world powers attempt Continue Reading
Ebrahim Raisi, a conservative cleric and judiciary chief, has won Iran’s presidential election, in a landslide victory that will give regime hardliners full control over all branches of the state Continue Reading
U.S.-based EIG Global Energy Partners said on Friday a consortium it led has closed a deal to buy 49% of Saudi oil producer Aramco’s pipelines business for $12.4 billion. EIG Continue Reading
Highlights June 18 presidential election to shape Iran’s oil sector Frontrunner Raisi’s camp says downstream may be priority Iran may look to China, Russia, with western IOCs sidelined Iranians will Continue Reading
Iranians voted on Friday in a presidential election likely to be won by a hardline judge subject to U.S. sanctions, though many are expected to ignore the ballot amid economic Continue Reading
Come presidential election time, the streets of central Tehran are usually wallpapered with the candidates’ names and faces, their banners swaying from buildings and streetlights. But this time around, the Continue Reading
The sole reformist candidate in Iran’s presidential election has vowed to try to resolve the stand-off with world powers over the nuclear deal “at first chance” if he is elected. In Continue Reading
Saudi Arabia’s exports of crude oil in April were at their lowest since June 2020 as it continued to hold down production well below its OPEC quota, figures from the Continue Reading
KRG Prime Minister Masrour Barzani (right) receives Iraqi Prime Minister Mustafa al-Kadhimi (left) in Erbil on September 10, 2020. (Photo credit: Kurdistan Regional Government) The leaders of Iraq’s federal government Continue Reading
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. Prince Abdulaziz bin Salman, who’s been warning Continue Reading
Iraq’s Oil Ministry is sitting on roughly 1 million bpd of capacity — and developing more — as OPEC quotas begin to ease. Iraqi Oil Minister Ihsan Ismaael (center right) Continue Reading
Energy Minister Prince Abdulaziz bin Salman Saudi Arabia’s cautious approach to reviving OPEC+ oil output has been proved correct, said Energy Minister Prince Abdulaziz bin Salman. After a year of Continue Reading
Iran grappled with fears of low voter turnout two days ahead of its presidential election as the race narrowed on Wednesday into a showdown between the country’s hard-line judiciary chief Continue Reading
Shortly after Iran’s centrist president 1–lassan Rouhani was elected in 2013, the country’s football team qualified for the World Cup, a sign, many said, that the new leader had brought Continue Reading
The relationship between the two great indigenous powers in the Middle East – Saudi Arabia and Iran – has become significantly more nuanced in the past few weeks than the Continue Reading
Iran and the United States have made progress on virtually every issue under discussion in indirect meetings over the past two months. But as they began a sixth round of Continue Reading
The first cargo ships from Dubai that docked last year in the Mediterranean port of Haifa were met by celebration in Israel. Flags waved. Reporters gathered. The prime minister walked Continue Reading
BP Plc (BP.L) is planning to spin off its operations in Iraq into a standalone company, the Wall Street Journal reported on Friday, as the oil major looks to shift Continue Reading
Iraq’s oil sector is rebounding after a catastrophic year triggered by the coronavirus pandemic, with key investment projects on the horizon, Iraq’s oil minister said Friday. But he also warned Continue Reading
The talks about bringing Iran and the United States back to the so-called Iranian nuclear deal will resume on Saturday with divergences remaining, in what would be the last attempt Continue Reading
Highlights Latest Republican bill aims to require congressional review Platts Analytics expects US sanctions relief by September Biden not bound by existing congressional review law In the latest attempt to Continue Reading
Saudi Aramco raised this week $6 billion via its first Islamic bond denominated in U.S. dollars, orders for which exceeded $60 billion, according to a document from one of the Continue Reading
The Biden administration lifted sanctions on three former Iranian officials and several energy companies amid stalled nuclear negotiations, signaling Washington’s willingness to further ease economic pressure on Iran if the Continue Reading
Sequencing of JCPOA compliance remains complicated Platts Analytics sees US sanctions relief by September Iran oil output expected to return to capacity next year While oil traders appeared ready June Continue Reading
The Biden administration lifted sanctions on three former Iranian officials and several energy companies amid stalled nuclear negotiations, signaling Washington’s willingness to further ease economic pressure on Iran if the Continue Reading
Economies reopening after lockdowns and a consequent surge in travel have pushed crude oil prices to levels last seen years ago. Now, something else can push them even higher: the Continue Reading
Iran has plans in place to swiftly restore its crude oil production to pre-sanctions levels of nearly 3.4 million barrels per day (bpd), a senior Iranian industry official said on Continue Reading
Israeli Minister of Environmental Protection Gila Gamliel is looking to have the recent oil pipeline deal between Israel and the United Arab Emirates (UAE) scrapped because of security and environmental Continue Reading
Bond proceeds to be used for dividend payments Aramco Q1 production averaged 8.6 million b/d of crude oil Saudi Aramco has not yet embarked on work to expand its maximum Continue Reading
Global oil markets have been on edge recently due to the continuing JCPOA discussions and the possibility of the U.S. rejoining the deal. While there have been no real breakthroughs Continue Reading
Saudi Arabian oil giant Aramco (2222.SE) locked in another $6 billion on Wednesday to help fund a large dividend as it returned to the international debt markets with its first Continue Reading
Rick Vierbuchen (R), then president of ExxonMobil Upstream Ventures, shakes hands with Abdul Mahdy al-Ameedi, the director general of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD), after signing Continue Reading
Given the U.S.’s broad scaling-down of its on-the-ground operations in the Middle East over the past five years, a specific function of which is ExxonMobil’s intention to sell its stake Continue Reading
