Massive blackouts and smog have hit cities across Iran. It’s a toxic mix as the country, already under economic duress and suffocating U.S. sanctions, simultaneously battles the region’s worst coronavirus outbreak. Continue Reading
Washington’s European allies hope the incoming Biden administration will take swift steps to restore the Iran nuclear deal amid mounting pressures, including Tehran’s boost in uranium enrichment and elections later Continue Reading
Iraq announced two deals with countries that Iran hopes can be gradually moved further into its sphere of influence. One of the two, Lebanon, is already seen by Tehran as Continue Reading
After a record-setting 2019, annual oil output fell by about 760,000 bpd as Iraq made extraordinary cuts to help support global prices. The Iraqi Drilling Company completes drilling at the Continue Reading
Since President Trump withdrew the U.S. from a multilateral agreement aimed at curbing Iran’s atomic ambitions, Tehran has moved steadily to step up uranium enrichment and, most recently, said it was Continue Reading
Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter. (Bloomberg) — Saudi Aramco is Continue Reading
After a record-setting 2019, annual oil output fell by about 760,000 bpd as Iraq made extraordinary cuts to help support global prices. The Iraqi Drilling Company completes drilling at the Continue Reading
Market tightness is the new byword on the global crude markets, though this given bout of supply scarcity (luckily) bears all the traits of a forethought and premeditated one. Saudi Continue Reading
Iran has taken a significant new step toward possible atomic-weapons production, starting work on an assembly line to manufacture a key material used at the core of nuclear warheads, the Continue Reading
Iran has started work on uranium metal-based fuel for a research reactor, the U.N. nuclear watchdog and Tehran said on Wednesday, in the latest breach of its nuclear deal with Continue Reading
Iran said it would restart production of fuel for its Tehran Research Reactor, a facility that runs on uranium enriched to higher levels in order to produce medical isotopes. International Atomic Continue Reading
The United States is designating the Iran-aligned Houthi rebels in Yemen as a foreign terrorist organization, U.S. Secretary of State Mike Pompeo said on Sunday, after the Houthis are believed Continue Reading
Saudi Arabia is preparing to return to global capital markets with a bond sale aimed at raising about $5 billion to help cover financing needs heightened by last year’s slide Continue Reading
Iran’s oil revenues have halved since the U.S. imposed sanctions on the Islamic Republic in 2018, Turkish news agency Anadolu reported , citing an Instagram post of the governor of Continue Reading
Foreign energy firms and contractors have to accept Iran’s new terms and conditions if they return to work in the country, Iran’s Oil Minister Bijan Zanganeh said on Monday. “If Continue Reading
A zero-carbon city will be built on the site of the Neom smart city project, Crown Prince Mohammed bin Salman said on Sunday, as quoted by Reuters. The city, dubbed Continue Reading
Ehe National Iranian Oil Co. on Jan. 11 signed eight more oil projects as part of a $6.2 billion national program started in January 2019 to boost oil production by Continue Reading
Iran has been waiting since former U.S. President, Donald Trump, unilaterally pulled his country out of the Joint Comprehensive Plan of Action (JCPOA) in May 2018 and then re-imposed sanctions Continue Reading
Three of OPEC’s biggest oil producers raised monthly pricing for shipments to Asia, their largest regional buyer, after markets tightened on Saudi Arabia’s plan to slash output. Iraq, Abu Dhabi and Continue Reading
The Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf, is rarely far from the center of global tensions. A major shipping route that handles around Continue Reading
Iran’s capture of a South Korean-flagged tanker at sea last week has been described by the US as extortion. But Tehran says it is Seoul that is the hostage taker Continue Reading
Abu Dhabi – the oil powerhouse at the centre of the U.S.’s pushback against increasing Chinese influence across the Middle East – last week further cemented this alliance with a Continue Reading
Iran has signaled it has no intention to negotiate the release of the South Koran fuel tanker that the Iranian military seized earlier this week in the Strait of Hormuz. Continue Reading
Iraq’s December oil production, including from the semi-autonomous Kurdistan region, rose 4.7% month on month to 3.857 million b/d, to be above the country’s OPEC+ quota, data from the State Continue Reading
Supreme Leader Ayatollah Ali Khamenei banned Iran’s government on Friday from importing COVID-19 vaccines from the United States and Britain. “Imports of U.S. and British vaccines into the country are Continue Reading
Saudi Arabia raised pricing for oil customers in Asia and the U.S. after its shock move this week to cut output sent crude prices climbing. A day after its unilateral Continue Reading
The U.S. didn’t import any Saudi crude last week for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American Continue Reading
For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the United States—at Continue Reading
Iran claims that the U.S. should pay Tehran as much as US$70 billion as compensation for lost oil revenues due to the U.S. sanctions, as a prerequisite for a return Continue Reading
The first monthly OPEC+ meeting to decide on the group’s production ended with an unexpected, in fact shocking two-month agreement: Saudi announced an unexpected and unilateral production cut of 1 Continue Reading
Ever since Saudi energy minister Prince Abdulaziz bin Salman took his post in August 2019, he has cracked the whip on OPEC+ compliance, pressuring, scolding and cajoling quota violators to Continue Reading
Saudi Arabia has delivered what Russian Deputy Prime Minister Alexander Novak called “a New Year’s gift” to the oil market with its surprise announcement of an extra 1 million b/d Continue Reading
Saudi Arabia surprised the market with a large cut in crude production, an assertion of primacy over the global oil industry that came directly from the kingdom’s de-facto ruler. The move Continue Reading
FILE PHOTO: U.S. President Donald Trump addresses a campaign rally in Dalton, Georgia, U.S., on the eve of the run-off election to decide both of Georgia’s Senate seats January 4, Continue Reading
Saudi Arabia said Tuesday it will cut its oil production by 1 million barrels a day, taking on the burden of supporting prices in the energy market as a “goodwill Continue Reading
Chanting anti-American slogans, thousands of Iraqis converged on a landmark square in central Baghdad on Sunday to commemorate the anniversary of the killing of a powerful Iranian general and a Continue Reading
In line with Iraq’s currently perilous finances and with its future target of increasing crude oil production to 7 million barrels per day (bpd) by 2027 at the latest, Baghdad Continue Reading
Oil exports ended 2020 on a relative high note, but the year saw federal Iraq post its lowest annual export volumes since 2014 and worst revenue total in more than Continue Reading
Highlights Iran slashed gas supplies due to unpaid bills Iranian energy minister pledged to resume supplies Iraq’s 90-day waiver granted on Dec. 30 Dubai — Iraq is still waiting for Continue Reading
Armed Iranian Revolutionary Guard troops stormed a South Korean tanker and forced the ship to change course and travel to Iran, the vessel’s owner said Tuesday, the latest maritime seizure Continue Reading
Qatar’s energy exports are unlikely to get a boost even as the almost four-year rift between Doha and three Gulf countries is set to ease with the Qatari Emir attending Continue Reading
Trump administration had been more aggressive on Iraq’s energy deals with Iran, issuing a 45-day waiver in November. U.S. Secretary of State Mike Pompeo looks to Iraq’s Foreign Minister Fuad Continue Reading
Iran’s Revolutionary Guards Corps seized a South Korean-flagged tanker in Gulf waters and detained its crew, Iranian media said on Monday, amid tensions between Tehran and Seoul over Iranian funds Continue Reading
Iran on Monday resumed 20 percent uranium enrichment at its sensitive Fordow nuclear facility, state media reported — a major step away from a 2015 nuclear deal struck with world Continue Reading
-Iran has resumed 20% uranium enrichment at an underground nuclear facility, the government said on Monday, breaching a 2015 nuclear pact with major powers and possibly complicating efforts by U.S. Continue Reading
The oil and gas reserves of the Middle East are unmatched. It has been the region’s most important source of revenue and wealth for the past decades. Although it is Continue Reading
Iraq confirmed that it’s selected a Chinese company for a multibillion-dollar oil-supply deal, as the Arab nation seeks funds to bolster an economy reeling from the coronavirus-triggered collapse in energy Continue Reading
Tens of thousands of supporters of Iranian-backed Iraqi paramilitary groups chanted anti-American slogans in central Baghdad on Sunday to mark the anniversary of the U.S. killing of Iranian general Qassem Continue Reading
Iran’s parliament has lowered the government’s oil export target from 2.3 million to 1.5 million to manage expectations, news agency ISNA reported Jan 2. Receive daily email alerts, subscriber notes Continue Reading
Highlights Sea mine on Pola discovered Dec. 31 in international territorial waters Pola is floating storage for high sulfur fuel oil intended for export Latest incident heightens maritime security concerns Continue Reading
