Negotiating teams representing Iraq’s federal government and the semi-autonomous Kurdistan Regional Government meet in Baghdad to negotiate over energy and financial issues on April 19, 2020. Iraq’s semi-autonomous Kurdistan Regional Continue Reading
Iraqi Oil Minister Ihsan Ismaael has set an April deadline to resolve a long-running legal action against Turkey for enabling Kurdistan’s independent oil exports — either through a negotiated deal Continue Reading
Lebanon’s caretaker prime minister on Friday condemned overnight violence in the city of Tripoli, where protesters angry over a strict lockdown clashed with security forces and set the municipality building Continue Reading
Saudi Aramco, the world’s largest oil company, is about to make headlines again. In a surprise statement by Saudi Crown Prince Mohammed bin Salman during an interview at the Future Continue Reading
The Biden administration has imposed a temporary freeze on U.S. arms sales to Saudi Arabia and is scrutinizing purchases by the United Arab Emirates as it reviews billions of dollars Continue Reading
Saudi Arabia’s “brilliant move” to unilaterally reduce oil output additionally by 1 million b/d has been a great contribution to the stabilization of the global oil market, Kirill Dmitriev, the Continue Reading
Iran has threatened to block nuclear inspections next month, and further increased production of fuel that could be enriched for use in bombs. It has seized an American ally’s cargo Continue Reading
Near the beginning of December, Bloomberg sources suggested that the French oil major Total SA was looking to rid itself of its 18% stake in the Sarsang exploration block in Continue Reading
An increase in Iranian oil exports to China has received some unwanted attention in recent days and is now prompting fears of a clampdown. Indonesia seized two vessels — one of which was Continue Reading
China’s government called on Indonesia on Wednesday to treat a group of detained Chinese sailors fairly but gave no indication what their oil tanker was doing when it was found Continue Reading
After a 12-hour shift in the Old Souk one day last week, Yousaf Khan had not made a single sale at his shop where he sells colored glass lamps and Continue Reading
The Eastern Mediterranean in a decade went from an ’empty sea’ towards one of the most promising new frontiers of the global oil and gas industry. The Levant basin contains Continue Reading
The geopolitically game-changing Goreh-Jask pipeline project saw a major advance last week with the commencement last week of offshore pipe-laying operations. The implementation of this operation markets the first stage Continue Reading
Saudi Arabia’s oil giant, state-held Aramco, could think about selling more of its shares under the right market conditions, the governor of the Kingdom’s Public Investment Fund (PIF) said on Continue Reading
The U.S. is trying to seize around 2 million barrels of what it thinks is Iranian oil, according to people familiar with the matter, in Washington’s latest attempt to block Continue Reading
Israel’s top general said on Tuesday that its military was refreshing its operational plans against Iran and that any U.S. return to a 2015 nuclear accord with Tehran would be Continue Reading
There’s probably no country in the world outside the United States that was more affected by the November election than Iran. President Biden’s victory and entry into the White House was Continue Reading
Iraq will pump less oil this month and next to make up for excess production last year, the deputy chief of SOMO, the oil marketing company of Baghdad. For both Continue Reading
Saudi Arabia is working to replace the use of petroleum liquids for power generation with solar energy and gas-fired capacity, Argaam reported on Monday, citing Saudi Arabia’s Energy Minister, Prince Continue Reading
Kuwait on Jan. 25 unveiled a budget for its coming fiscal year with a breakeven crude price of $90/b and significant deficit spending, with higher expenditures eating up a significant Continue Reading
The Iranian and Panamanian-flagged vessels seized by Indonesian authorities for suspected illegal oil transfers are making their way to dock at Batam island in the country’s Riau Islands Province for Continue Reading
When earlier this month Saudi Arabia served “a wonderful surprise” to oil markets in the words of its energy minister, oil prices jumped up. After all, the Kingdom said it Continue Reading
Saudi Arabia’s Public Investment Fund plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025, Prince Mohammed bin Salman said on Sunday, a move that would make Continue Reading
Indonesian authorities said that they seized an Iranian tanker and Panamanian tanker suspected of carrying out the illegal transfer of oil in their country’s waters Sunday. The tankers — the Iranian-flagged Continue Reading
Saudi Arabia’s exports fell by more than a quarter in November compared with a year ago, driven by another drop in oil demand. Total revenue was 58.2 billion riyals ($15.5 billion), Continue Reading
Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude. OPEC’s Continue Reading
Israel’s cabinet approved restrictions that will bar foreign flights from entering the country in order to limit the country’s exposure to mutated strains of Covid-19. The closure takes effect at midnight Monday and Continue Reading
Indonesia said its coast guard seized the Iranian-flagged MT Horse and the Panamanian-flagged MT Freya vessels over suspected illegal oil transfer in the country’s waters on Sunday. Coast guard spokesman Wisnu Continue Reading
Iran had barely started to reap the economic benefits of its 2015 nuclear deal with world powers when Donald Trump withdrew and imposed sanctions so tight they plunged the country Continue Reading
The image from the Khamenei-linked account appears to depict Donald Trump playing golf below an aircraft Iran’s Supreme Leader Ali Khamenei has posted online an apparent call for an attack Continue Reading
Iran has started ramping up its crude oil production eyeing a return to pre-sanction levels in a month or two, Deputy Oil Minister Amir Hossein Zamaninia told media, as quoted Continue Reading
Before it launched the world’s biggest public listing, Saudi Arabian Oil Co. promised potential investors a small piece of a trillion-dollar company with access to unrivaled oil reserves. Not just in Continue Reading
Rare twin suicide bombings struck a market Thursday in central Baghdad, killing at least 32 people and injuring 110 more, according to Iraq’s Health Ministry. The blasts came midmorning as Continue Reading
Iraq has postponed its upcoming national elections by four months, as authorities struggle to overcome the kinds of technical and security problems that undermined public confidence in the 2018 elections Continue Reading
Oil prices have risen by 10 percent since the end of 2020 and 8 percent since the OPEC+ meeting two weeks ago, but the rally has nothing to do with Continue Reading
There are three major troubling factors for new U.S. President Joe Biden. In the recently agreed US$2 billion five–year prepayment oil supply deal between the Federal Government of Iraq (FGI) Continue Reading
In the upscale shisha lounge of one of Baghdad’s new restaurants, customers puffing on fragrant fruit-scented tobacco sit at gold-rimmed tables flanked by a giant video screen and views of Continue Reading
For most of last year, Saudi Arabia—the largest oil exporter in the world—and its key partner in the OPEC+ deal, Russia, were head-to-head in a very close race for the Continue Reading
An Israeli firm has announced the first superfast EV battery that can charge in just five minutes. The technology could spark a true EV revolution as it would eliminate one Continue Reading
A return of Iranian oil to the market if new US President Joe Biden resurrects the nuclear deal could destabilize crude prices and undermine the OPEC+ alliance, experts said at Continue Reading
Saudi Arabia’s crude exports rose to a seven-month high in November and, with production capped by the OPEC+ agreement, domestic stockpiles ended the month at a 17-year low, according to Continue Reading
Saudi Aramco may be forced to play catch-up in 2021 as rival state-controlled oil companies closely aligned to OPEC policy in the Middle East race to add new production capacity Continue Reading
Iraq’s crude exports to India grew nearly double-digits last year, helping it retain the title of India’s top oil supplier in 2020, but it may struggle to attain similar growth Continue Reading
Iran’s currency strengthened to a five-month high against the dollar as Joe Biden prepared to take office with a plan to revive the 2015 nuclear deal and provide sanctions relief Continue Reading
The Abu Dhabi National Oil Company (ADNOC) is looking to form partnerships with companies from the United States to develop unconventional oil resources in the United Arab Emirates (UAE), Reuters Continue Reading
Iranian President Hassan Rouhani urged the incoming U.S. administration on Wednesday to return to a 2015 nuclear agreement and lift sanctions on Tehran while welcoming the end of “tyrant” President Continue Reading
Insurgents bombed a power transmission station in the Jalula area of Diyala province late Monday, depriving many residents of electricity — the latest in a string of incidents that highlight Continue Reading
Adnoc, the Abu Dhabi state oil company, Adu Dhabi Investment Holding, and Mubadala Investment Co., two state investment funds, have teamed up in an Abu Dhabi Hydrogen Alliance to develop Continue Reading
Tankers carrying oil from Iran to Syria have been intercepted in the Red Sea and delayed shipments of oil to Syria, the Prime Minister of Syria, Hussein Arnous, was quoted Continue Reading
Iran and China look to exploit Saudi oil deficit with new push in West Karoun Iran And China Exploit Saudi Weakness With New Oil Megaproject Iran And China Capitalize On Continue Reading
