Saudi Aramco, the world’s biggest oil exporter, has begun cutting hundreds of jobs as it looks to reduce costs after a slump in energy prices, according to people familiar with Continue Reading
Late last month, Basma al-Jahdali and her friends hit the shops in Saudi Arabia, eager to buy as much as they could, driven not by fear of coronavirus related shortages, Continue Reading
The resumption of crude oil imports from Iraq by Jordan announced last week by the Kingdom’s Energy Minister, Hala Zawati, will give Baghdad’s (and Tehran’s) beleaguered finances a much-needed boost Continue Reading
The stockpiles of refined oil products at the oil trading and bunkering hub of Fujairah dropped for a third consecutive week, the longest stretch in a year, dragged by a Continue Reading
The oil price plunge and the production cuts after the coronavirus pandemic will hit oil exporters in the Middle East and North Africa (MENA) hard, with the combined oil income Continue Reading
Saudi Arabia is set to keep its crude oil exports in August at the levels from July, although the OPEC+ group is expected to ease the record production cuts as Continue Reading
The autocratic regimes in Beijing and Tehran are feeling the heat from Washington. The former is locked in a bitter, damaging trade war with the United States; the latter has seen its country’s Continue Reading
Iraq has pledged to reach 100% compliance with its OPEC+ quota in August and make up for overproduction in May and June, as OPEC’s second-largest producer continues to improve its Continue Reading
Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among Continue Reading
Yemen’s Houthi movement has agreed to provide the United Nations access to a stranded oil tanker that risks causing an environmental disaster off the coast of the war-divided country, two Continue Reading
As Iran’s center for advanced nuclear centrifuges lies in charred ruins after an explosion, apparently engineered by Israel, the long-simmering conflict between the United States and Tehran appears to be escalating Continue Reading
Iran is expanding its oil-production capacity in anticipation that an eventual end of sanctions would allow it to wrest back its share of the global crude market, according to Oil Continue Reading
Iran’s Persia Oil and Gas Industry Development Co. signed a $463 million agreement with state-run National Iranian Oil Co. to operate and further develop Yaran oil field close to the border Continue Reading
An explosion at the heart of Iran ‘s nuclear programme in the dead of night. An obscure group called the Cheetahs of the Homeland takes credit for it. Then there Continue Reading
The amount of oil that Iran currently has in storage may have come off its May peak, according to industry sources, but it is still forcing the oil producer to Continue Reading
An explosion rocked western Tehran early Friday, state media reported, causing widespread power failures in two residential areas and unnerving Iranians awakened for the third consecutive week by an early-morning Continue Reading
The Middle East has taken center stage in the OPEC+ agreement to cut 9.6 million b/d through July, with Saudi Arabia leading the way and Iraq being put to the Continue Reading
Financial constraints and OPEC cuts led to oil sector layoffs and protests that briefly shut down access to Missan province’s largest field. Workers survey the Halfaya oil field in 2011. Continue Reading
With a projected budget breakeven oil price of US$69.1 per barrel of Brent this year, according to IMF figures, but accounting for around 96.8 per cent of the UAE’s 98 Continue Reading
Stockpiles of light, middle and heavy distillates at the oil trading and bunkering hub of Fujairah declined to a two-month low July 6, extending declines from the record set in Continue Reading
Brent oil prices rose early on Monday after Saudi Arabia raised its oil price for a third consecutive month, signaling recovering demand. As of 9:26 a.m. EDT on Monday, Brent Continue Reading
A massive explosion and fire at a highly sensitive Iranian nuclear facility last week was likely an act of sabotage, intelligence officials and weapons experts said Monday, but analysts were Continue Reading
Last August, Iran’s Foreign Minister, Mohammad Zarif, paid a visit to his China counterpart, Wang Li, to present a roadmap on a comprehensive 25-year China-Iran strategic partnership that built upon Continue Reading
Tehran has built underground “missile cities” along the Gulf coastline, Iran’s Revolutionary Guards Navy chief said on Sunday, warning of a “nightmare for Iran’s enemies”. “Iran has established underground onshore Continue Reading
Iran said a fire that broke out at its Natanz nuclear facility last week had caused “significant damage” to a building that was used to develop advanced centrifuges. A number of Continue Reading
An Iranian conglomerate owned by the country’s military and tied to its missile program has established a retail foothold in Venezuela, according to officials and records detailing the move, deepening Continue Reading
Iran’s Atomic Energy Organisation released a photo purportedly showing the damaged building A fire that broke out on Thursday at a key Iranian nuclear facility has caused “significant damage”, a Continue Reading
The rosy future of the offshore East Mediterranean (East-Med) gas boom is in jeopardy. The current COVID-related economic downturn, combined with the dramatic drop in demand for oil and gas Continue Reading
First, they said it nicely: play along and cut to your quotas, or we’ll all suffer low oil prices for longer. Then they put their foot down: start cutting deeper Continue Reading
The Houthi rebels in Yemen claim they have sent a team to repair an oil tanker full of 1 million barrels of oil sitting off the Yemeni coast for five Continue Reading
Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe amid signs that energy demand is continuing to recover from its coronavirus-triggered collapse. The move comes Continue Reading
France’s growing spat with Turkey over the Libyan civil war has exposed cracks in the Nato military alliance and raised questions over what Paris is seeking to achieve in the Continue Reading
Iran on Sunday instituted mandatory mask-wearing as fears mount over newly spiking reported deaths from the coronavirus, even as its public increasingly shrugs off the danger of the COVID-19 illness Continue Reading
Gulf economies will experience a combined contraction of 7.6 percent this year because of the oil price crash, a senior IMF official has forecast. This is a sharp downward revision Continue Reading
Dozens of U.S. diplomats and their families are leaving Saudi Arabia this weekend amid a surge in new coronavirus cases, drawing into focus the kingdom’s struggle in containing the outbreak Continue Reading
A raid ordered by Iraq’s new prime minister on militiamen accused of planning an attack against Baghdad’s international zone could mark a turning point in his government’s efforts to bring Continue Reading
Total exports fall to 3.083 million b/d in June Both federal, Kurdistan exports sharply lower Production may be nearing OPEC+ quota Iraq’s crude oil exports, including from the Kurdistan region, Continue Reading
Iran said it was looking at possible sabotage following recent blasts at several key Iranian sites, including the country’s main nuclear facility, a senior official said Friday, deepening the mystery Continue Reading
Iranian investigators have found the “main cause” of a fire that tore through a building at the country’s biggest uranium enrichment facility on Thursday but won’t yet release details, the Continue Reading
Iran will retaliate against any country that carries out cyber attacks on its nuclear sites, the head of civilian defence said, after a fire at its Natanz plant which some Continue Reading
Iran’s financial and military support for Shi’ite proxy paramilitary groups in Iraq, a linchpin of its regional foreign policy, has been dramatically disrupted by the coronavirus pandemic and U.S. sanctions, Continue Reading
A fire ripped through a building at Iran’s main nuclear-fuel production site early Thursday, causing extensive damage to what appeared to be a factory where the country has boasted of Continue Reading
Tribal conflicts in southern Iraq have become more frequent and deadly in recent months, as security forces have been hamstrung by local power structures and distracted by the coronavirus lockdown. Continue Reading
Saudi Arabia has threatened to ignite an oil-price war unless fellow OPEC members make up for their failure to abide by the cartel’s recent production cuts, delegates said. Saudi energy Continue Reading
Iraq is looking to attract investment from Saudi Arabia in one of its natural gas fields, Iraqi Deputy Prime Minister and Finance Minister, Ali Allawi, told Bloomberg , while OPEC’s Continue Reading
Even before the latest Saudi-instigated oil war crashed oil prices, Oman had a budget breakeven price per barrel of Brent of over US$85, with a senior legal source in Abu Continue Reading
The worst in the oil market is over, Amin Nasser, president and CEO of the world’s biggest oil company, Saudi Aramco, says, adding that he is “very optimistic” for the Continue Reading
Saudi Arabia’s Crown Prince Mohammed and the president of Nigeria Muhammadu Buhari, discussed the progress of the OPEC+ oil production cut deal this week in a phone call, the Saudi Continue Reading
Oil demand has rebounded close to 90 million b/d, partly reversing a slump in consumption caused by the COVID-19 pandemic, Saudi Aramco’s president and CEO Amin Nasser has said in Continue Reading
The economy of the six-member Gulf Cooperation Council will shrink 7.6% in 2020, worse than April projections, due to weak oil prices and the coronavirus outbreak, an International Monetary Fund Continue Reading
