Iraq and the United States have affirmed their commitment to the withdrawal of U.S. troops from Iraq without giving a timeline, state news agency INA said on Friday, citing Iraq’s Continue Reading
Saudi Arabia is considering cancelling the hajj pilgrimage season for the first time since the kingdom was founded in 1932, after cases of coronavirus in the country topped 100,000. “The issue Continue Reading
Oil production in Iraq’s semi-autonomous Kurdistan region has fallen 10 percent so far this year, as oil companies respond to shrinking cash flows by reducing capital expenditures and laying off Continue Reading
Qatar told government-funded entities to cut spending on non-Qatari staffers’ wages as it tries to shore up its finances to cope with the impact of the coronavirus pandemic. The Ministry Continue Reading
The assailants came at dusk, creeping on foot through the dusty palm groves near the Tigris River, armed only with a rocket-propelled grenade, a light machine gun and Kalashnikovs. They Continue Reading
Since firebrand cleric Moqtada al-Sadr became the effective leader of Iraq after the victory of his ‘Sairoon’ (‘Marching Forward’) power bloc in the May 2018 general elections, the practical application Continue Reading
OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started Continue Reading
Saudi Arabia exported crude oil worth some $40 billion during the first quarter of the year, down by 21.9 percent, or $11 billion, on the first quarter of 2019, Reuters Continue Reading
Iran expects gas exports to Turkey to resume by mid-July at the latest, a senior Iranian gas official said June 7, following an explosion on a pipeline in Turkey that Continue Reading
Iraq’s new oil minister affirmed the country’s commitment to the OPEC+ deal in a phone call with the Saudi energy minister after failing to comply in the first month of Continue Reading
Saudi Arabia sees signs of “thriving” demand in the oil market after the collapse triggered by the pandemic, the kingdom’s oil minister said on Monday. Prince Abdulaziz bin Salman said Saudi Continue Reading
Saudi Arabia has instigated two oil price wars in the last decade and has lost both. Given its apparent inability to learn from its mistakes it may well instigate another Continue Reading
Saudi Arabia’s export revenue was Riyal 197.84 billion ($52.69 billion) in Q1 2020, down 20.7% from the same quarter in 2019, mainly due to a 21.9% decline in oil export Continue Reading
Amirhossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, was appointed the country’s OPEC governor, replacing the recently deceased Hossein Kazempour, the oil ministry’s news service Shana reported Continue Reading
Iraq on June 7 reported its May crude oil production was 4.213 million b/d, well above its OPEC+ quota, one day after it agreed to improve its compliance with historic Continue Reading
Iraqi lawmakers on June 6 confirmed the appointment of Ihsan Ismael as the country’s new oil minister, according to local media. Receive daily email alerts, subscriber notes & personalize your Continue Reading
Mall operators in the Gulf region are delaying new mega-projects as the coronavirus pandemic and low oil prices upend a retail industry built around huge centres catering to tourists and Continue Reading
Fuel oil exports from Fujairah in the UAE slumped to an 18-month low in May, weighed down by plentiful supplies held in floating storage and contango in Singapore, according to Continue Reading
Iraq wants OPEC+ to take into consideration the economic and living conditions of countries when assigning quotas in oil production cuts, the country’s finance minister said, as OPEC’s second-largest oil Continue Reading
PM Mustafa al-Kadhimi has completed his 22-minister government, can focus on financial crisis and rising pandemic cases. Newly appointed Finance Minister Ali Allawi (left) formally takes over the portfolio from Continue Reading
Saudi Arabia increased prices for some crude exports by the most in at least two decades, doubling down on a strategy to bolster the oil market after OPEC+ producers extended Continue Reading
A deal to extend record OPEC+ output cuts was going smoothly — until Saudi Arabia and Russia discovered just how much some of their allies had been cheating. In private conversations, Saudi Continue Reading
Saudi Arabia made some of the biggest price increases for crude exports in at least two decades, doubling down on its strategy to bolster the oil market after OPEC+ producers Continue Reading
The number of coronavirus cases in Saudi Arabia exceeded 100,000 on Sunday following a rise in new infections over the past ten days. The Saudi Ministry of Health reported 3,045 Continue Reading
In his 20 years as a high-school English teacher in Baghdad, Abu Majeed has seen his fair share of conflict and upheaval. Yet, he’s rarely felt so desperate as one Continue Reading
The United Nations atomic agency expressed “serious concern” Friday about Iran’s failure to cooperate with its probe into undeclared nuclear material in the country, adding to calls from opponents of Continue Reading
A dramatic surge in coronavirus infections in Iran has rekindled the largest outbreak in the Middle East, just weeks after the country appeared to have tamed its epidemic. Iran is Continue Reading
Protests that prompted an emergency evacuation in May were caused by a breakdown in payments and cooperation between Shell and its government partners. After cutting output less than anticipated, Iraq Continue Reading
A wedding party contributed to a new surge in coronavirus infections in Iran, President Hassan Rouhani said on Saturday but insisted the country had no option but to keep its Continue Reading
Ever since OPEC teamed with Russia and other allies in late 2016 to tackle a global oil glut through production cuts, Iraq has been a reluctant participant, repeatedly flouting its Continue Reading
OPEC is in negotiations with its members to find the best way forward, but talks appear to have stalled over one laggard, Iraq, which has failed to live up to Continue Reading
(Reuters) – Iran’s president warned the public on Wednesday that restrictions may have to be reimposed to fight the coronavirus if the country is hit by a second wave of Continue Reading
Israel closed 15 schools Wednesday as it rushed to contain a coronavirus outbreak that threatens to shut the rest weeks after restarting, highlighting the risk of children spreading the disease. Continue Reading
Saudi Arabia is set to unwind the extra production cuts it pledged last month, increasingly confident that the grand bargain agreed by oil producers in April to reduce supply has Continue Reading
Given the massive negative hit taken by Saudi Arabia’s economy as a result of Crown Prince Mohammed bin Salman’s oil price war, aimed at destroying the U.S. shale oil industry Continue Reading
Saudi Arabia and Russia have reached a preliminary agreement to extend the current level of the OPEC+ production cuts by one month, provided that the laggards in compliance ensure over-compliance Continue Reading
Iraq’s nationwide exports exceeded its OPEC production quota in May, prompting the country’s acting oil minister to promise further cuts. “Despite Iraq’s severe financial constraints, we’re addressing technical issues that Continue Reading
Highlights Previously, both signed a one-year agreement Iraq paid $400 mil, or half of cost of electricity supply US extends Iraq’s sanctions waiver for Iranian electricity on May 7 Tehran Continue Reading
As Iran fought to contain the coronavirus epidemic, governments including Saudi Arabia and Iraq closed some of the world’s largest religious sites and canceled prayers. Iran is rolling back coronavirus Continue Reading
OPEC’s second-largest producer and the biggest laggard in the output cuts, Iraq, will further reduce production and remains committed to the OPEC+ pact, Iraqi Deputy Prime Minister and acting Oil Continue Reading
OPEC+ hopes to reduce global storage volumes with their production cuts, and hopes to extend them through at least, the summer. OPEC’s regular meeting in Vienna is coming up and Continue Reading
Saudi Arabia’s net foreign reserves fell by about $21bn in April after Riyadh transferred billions of dollars to its sovereign wealth fund to finance its overseas spending spree. Figures released by Continue Reading
Israel, which hopes to become energy-independent with its huge natural gas fields, is aiming to significantly boost its solar power generation over the next decade under a new US$22.8 billion Continue Reading
Iraq’s oil exports, excluding those from the semi-autonomous Kurdish region, fell 6.6% in May, according to the oil ministry, indicating that OPEC’s second-biggest oil producer may have struggled to cut Continue Reading
Economy of six-member GCC to contract 4.4% in 2020 Oman’s economy to shrink the most Oil GDP will contract 5.3% due to OPEC+ cuts The six-member Gulf Cooperation Council will Continue Reading
Iranian tankers carrying at least $45.5m worth of gasoline sailed into Venezuela without incident [Marcos Moreno/AP] Iran has said it will continue fuel shipments to Venezuela if Caracas requests more Continue Reading
Electreon Wireless Ltd. is pressing ahead with projects to test its technology that allows electric cars to be charged while driving, potentially demonstrating a way to overcome a key barrier Continue Reading
Is Lebanon’s Natural Gas Boom Dead In The Water? Description: Absent any discovery thus far, there has been little talk as to what to do with Lebanon’s offshore hydrocarbons, once Continue Reading
In the world of energy geopolitics and economics are closely linked to each other. The exploitation of oil and gas reserves is a major source of income for energy-rich countries Continue Reading
UAE’s new quota is 2.446 million b/d for May and June UAE will cut an extra 100,000 b/d in June The country is OPEC’s third-largest oil producer The UAE, OPEC’s Continue Reading
