Iranian crude could return to global markets sooner rather than later as this week’s start of negotiations between Tehran and the five world powers that, together with the U.S. signed Continue Reading
Iran released on Friday a South Korean ship and its captain detained since January after South Korea promised to try to secure the release of Iranian funds frozen in South Continue Reading
CIC The Saudi-led coalition fighting in Yemen says the Saviz is an Iranian military ship An explosion has damaged an Iranian cargo ship anchored off Yemen’s Red Sea coast that Continue Reading
A match has been going on in global oil, which has stayed largely out of the spotlight as the world focuses on the pandemic and its effect on demand. The Continue Reading
Iranian oil potentially returning legitimately to the market will not be a shock and a complete return will not take place at least until the summer of next year, Goldman Continue Reading
Highlights Working groups to set out path for oil sanctions relief Iranian envoy says meeting was ‘constructive’ JCPOA signatories to convene again April 9 London — The US and Iran Continue Reading
Diplomats from the U.S. and Iran converged in Vienna on Tuesday in an attempt to revive the beleaguered 2015 nuclear agreement, the first potential thaw in diplomatic relations between Tehran Continue Reading
U.S. and Iranian officials said Tuesday an initial day of talks in Vienna on returning to the 2015 nuclear deal were “constructive,” but the Biden administration cautioned that no immediate Continue Reading
Three key developments were announced last week by the UAE in line with its role as a principal member of the U.S.’s new Middle East strategy to counter China’s dramatically Continue Reading
Oil investors now have to contend with another wildcard: Iran soon returning to the oil markets. After a three-year layoff, Iran could be poised to officially rejoin the ranks of Continue Reading
Iran’s foreign ministry confirmed April 7 that an explosion caused damage on an Iranian ship in the Red Sea and said the blast was under investigation, state television reported. “The Continue Reading
Qatar Petroleum found itself in the limelight of the LNG scene in 2021, having clinched two major deals with Pakistan and China. All the while media buzz around the supply Continue Reading
The Sarqala oil field has restarted after a dispute within the Patriotic Union of Kurdistan (PUK) party led to the temporary shutdown of its 30,000 barrels per day (bpd) of Continue Reading
Iran wants the removal of Trump-imposed US sanctions before it scales back atomic activities under the 2015 nuclear deal, a senior official said ahead of a April 6 Vienna meeting Continue Reading
Iraq’s total crude exports in March, including flows from the semi-autonomous Kurdistan region, fell 0.8% month on month, data from the oil ministry and shipping reports showed, amid signs of Continue Reading
Iran and the United States will hold indirect talks in Vienna on Tuesday aimed at bringing both countries back into full compliance with the 2015 nuclear deal that Washington abandoned Continue Reading
The construction site for a new highway and metro development in Riyadh, Saudi Arabia, May 19, 2020. Sign up for our coming Middle East newsletter and follow us @middleeast for Continue Reading
Official estimates are that Iraq’s proven reserves of conventional natural gas amount to at least 3.5 trillion cubic meters (tcm), or about 1.5 percent of the world’s total, placing Iraq Continue Reading
Iran’s government wants the United States to lift all sanctions on its country and rejects any “step-by-step” easing of the restrictions, Iranian state broadcaster Press TV reported on Saturday. The Continue Reading
Saudi Arabia raised prices for oil shipments to customers in its main market of Asia, signaling the kingdom’s confidence in the region’s economic recovery. The decision comes after the OPEC+ Continue Reading
The United States will take part in indirect talks about the Iran nuclear deal with diplomats from Europe, Russia, and China next week, the U.S. State Department said on Friday. Continue Reading
After weeks of failed starts and back-channel exchanges, Iran and the United States will, next week in Vienna, begin exchanging ideas about how to restore the 2015 nuclear deal. Initially, though, Continue Reading
The United States and Iran will take part in talks next week in Vienna aimed at reviving the 2015 Iran nuclear agreement, the most extensive effort to shore up the accord Continue Reading
Aramco could pay less than the originally planned $73.5 billion to its Saudi state shareholder in order to prioritize investments, Crown Prince Mohammed said earlier this week, opening the door Continue Reading
Iraq’s nationwide oil exports held steady in March, averaging 3.367 million barrels per day (bpd), * while revenues surged due to strong global crude prices. The increased revenue is a Continue Reading
It’s the 11th hour for a true ceasefire in Yemen now as the world waits to see what Saudi Arabia will do next and the Houthis continue to apply pressure. Continue Reading
The United States will take the first steps toward indirect treaty talks with Iran on April 6 in Vienna as formal discussions begin with other nations involved in the 2015 Continue Reading
India continues its efforts to shake off its oil dependence on OPEC’s decisions by asking its state refiners to review what it sees as contracts “loaded against the buyer” with Continue Reading
Saudi Aramco’s profits fell by nearly 50% in 2020 as the pandemic battered oil markets and an oil price war between Russia and Saudi Arabia sent oil prices to record Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) EDITOR’S NOTE: In recent weeks, multiple different versions of Continue Reading
World powers will hold a virtual meeting with Iran on Friday to discuss “the prospect of a possible return of the United States” to the Iran nuclear deal, the European Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) Iraq’s Oil Ministry has reviewed a version of a Continue Reading
Saudi Arabia is reportedly ready to extend current OPEC+ production cuts over May and June and also keep cutting 1 million bpd in oil output unilaterally, according to an unnamed Continue Reading
Saudi Arabia’s Crown Prince Mohammed bin Salman Saudi Arabia’s crown prince laid out a 27 trillion riyal ($7.2 trillion) domestic spending and investment plan that relies heavily on commitments from Continue Reading
China’s crude oil imports from Iran this month could reach close to 1 million bpd, Reuters reported today, citing trading and analyst sources. That would be almost half the amount Continue Reading
Despite a 44 percent drop in its 2020 profits, the Saudi Arabian government has instructed majority-state-owned Saudi Aramco to stick to the US$75 billion per year dividend payout for shareholders Continue Reading
Iran will not stop its 20% uranium enrichment before the United States lifts all sanctions, Iranian state TV quoted an unnamed official as saying on Tuesday, after a U.S. media Continue Reading
Turkey has approved the development plan for the long-anticipated “Kanal Istanbul,” a ship canal that would connect the Black Sea with the Sea of Marmara, aimed at easing tanker and Continue Reading
Iraq and French oil major Total agreed to jointly work on developing four associated gas and solar power projects, the country’s oil ministry said March 29, as OPEC’s second-largest producer Continue Reading
Iran’s only operational nuclear power plant risks shutdown as the U.S. sanctions prevent the Islamic Republic from transferring money internationally to buy equipment, an executive of the Atomic Energy Organization Continue Reading
China and Iran signed an overarching deal aimed at charting the course of their economic, political and trade relations over the next 25 years. The Chinese government plans to invest Continue Reading
Iran and China on March 27 signed a sweeping 25-year trade and security cooperation pact that could lead to increased oil flows from Tehran to Beijing. Not registered? Receive daily Continue Reading
The sun was rising on the Mediterranean one recent morning when the crew of an Iranian cargo ship heard an explosion. The ship, the Shahr e Kord, was about 50 Continue Reading
Move comes after renewed calls from US lawmakers for Saudi Arabia to lift its air and sea blockade UN data shows food imports through ports of Hodeidah and Saleef dropped Continue Reading
Lori, an Israeli-owned container ship, was attacked in the Arabian Sea on March 25, and is currently heading to India, where its damage will be assessed, a source close to Continue Reading
The Saudi-led coalition battling Houthi forces in Yemen said on Thursday it had intercepted and destroyed several explosive-laden drones aimed at Saudi Arabia, state TV reported. The coalition said the Continue Reading
A Saudi Aramco petroleum product distribution terminal in Jazan, near the border with Yemen, was hit by a projectile March 25, causing a fire in a storage tank, the Saudi Continue Reading
Iraq remains the key cover through which Iran transports its oil to the rest of the world, as has been well-documented by OilPrice.com , so the news last week that Continue Reading
Ever since the attempted coup in Turkey of 2016, Ankara has become more assertive regarding its near abroad foreign policy. With the rise of the AKP in the early 2000s, Continue Reading
Iran’s crude oil exports are rising this month compared to February and March last year, tanker tracker Petro-Logistics told Reuters on Tuesday. Last week, Geneva-based Petro-Logistics said that Iranian oil Continue Reading
