Iraq’s new prime minister-designate, Mustafa al-Kadhimi, faces an uphill battle to seat a government after two previous candidates failed to secure enough support from political rivals. Kadhimi, who has led Continue Reading
The Middle East’s consumption of oil products from gasoline to jet fuel will add to pressures on global oil demand for this year as countries led by the energy-dependent Gulf Continue Reading
President Hassan Rouhani urged Iranians to continue to respect measures to guard against the new coronavirus as “low-risk” business activities resumed in most of the country on Saturday, state news Continue Reading
Iran has been struck by one of the most severe coronavirus outbreaks in the world, but the voices of Iranians affected by the pandemic have remained largely unheard outside the Continue Reading
Highlights Zurfi withdrew his candidacy Thursday amid political opposition He is the second PM designate to quit the race Iraq is OPEC’s second largest oil producer Dubai — Iraq’s President Continue Reading
A nationwide ceasefire in response to the global coronavirus outbreak went into effect in Yemen on Thursday, raising hope for an end to the five-year-old war that has pushed millions Continue Reading
Saudi Arabia’s attempt to negotiate a global pact with Russia to rescue oil prices from the coronavirus crisis will come to a head Thursday, when ministers from OPEC and other Continue Reading
Hassan Rouhani said international public opinion would not tolerate discrimination against Iran Iran has urged the International Monetary Fund (IMF) to approve a $5bn (£4bn) emergency loan to help fight Continue Reading
Saudi Arabia’s sovereign-wealth fund has amassed stakes worth roughly $1 billion in four major European oil companies, according to people familiar with the matter, buying assets it perceives as undervalued Continue Reading
Under its effective leader, firebrand ultra-nationalist cleric Moqtada al-Sadr, Iraq is theoretically committed to not allowing itself to become overly dependent on any one country. That was the rallying call Continue Reading
Saudi Arabia has nearly completed construction of its first nuclear reactor, sparking fears about the country’s quest for nuclear power. New satellite images, first published by Bloomberg , show construction Continue Reading
On the final day of March, the supertanker Newton, loaded with crude from Saudi Arabia, did something rarely seen in the world of oil trading: it abruptly diverted from its Continue Reading
The Saudi-led coalition fighting Yemen’s Iran-aligned Houthi movement will announce at midnight on Wednesday it is halting military operations nationwide to support a U.N. ceasefire initiative, three sources familiar with Continue Reading
Qatar is pushing back the start-up of the first phase of its North Field LNG Expansion Project by up to six months so that it will now enter production in Continue Reading
Iran demanded on Wednesday that U.S. oil production levels must be known before an upcoming OPEC meeting with Russia and others seeking to boost global energy prices. The meeting of Continue Reading
Critics say Turkey’s measures do not go far enough Turkish authorities have imposed new measures to limit the spread of coronavirus, as the number of infections continues to rise sharply. Continue Reading
Several rockets were fired and landed on Monday near a residential district in southern Iraq, where many foreign oil firms have their headquarters and where oil workers live, without causing Continue Reading
Investigators say rocket attack on Iraqi and foreign oil sites was likely part of a broader conflict between paramilitaries and U.S. in Iraq. Security forces investigate the site from which Continue Reading
OPEC’s core Gulf countries of Saudi Arabia, the UAE and Kuwait appear to have wasted no time in ramping up their crude production after the breakdown of talks with Russia Continue Reading
Iran has unveiled a package of state-backed loans to support poorer people and boost consumer spending as the government prepares to ease some of the work restrictions it imposed to Continue Reading
Iran’s president said on Sunday “low-risk” economic activities would resume from April 11 in the Middle Eastern country worst-affected by the new coronavirus. Iran has been struggling to curb the Continue Reading
Saudi Arabia sharply criticized Russia on Saturday over what it described as Moscow blaming the kingdom for the collapse in global energy prices, showing the tensions ahead of an emergency Continue Reading
Saudi state oil giant Aramco and the UAE’s Abu Dhabi National Oil Co. will delay issuing their official selling prices for May crude exports until after the OPEC+ coalition holds Continue Reading
Thamer Ghadhban said all producers are responsible to stabilize oil markets Comments follow Trump criticism of OPEC and Saudi-Russia dispute Trump threatened to impose tariffs on oil imports Dubai — Continue Reading
Saudi Arabia is delaying the release of its closely-watched monthly oil-pricing list until later this week as the kingdom spars with Russia over a potential meeting of global producers that Continue Reading
Products on display at a market in Taef, Saudi Arabia. Saudi supply companies and chains have begun increasing their share of strategic reserves of consumer goods in preparation for the Continue Reading
The OPEC+ meeting to try to end the oil price war is unlikely to go ahead on Monday as previously expected, as Riyadh and Moscow trade barbs about who’s to Continue Reading
DUBAI, United Arab Emirates (AP) — Saudi Arabia sharply criticized Russia on Saturday over what it described as Moscow blaming the kingdom for the collapse in global energy prices, showing Continue Reading
Highlights Rise of almost 500,000 b/d in two months Mar output was close to 2.9 mil b/d says KPC chairman Exports from the offshore Al-Khafji field begin London — OPEC Continue Reading
For many countries, the ongoing oil price depression has brought about a new era of impending economic implosion. Yet no one seems to suffer as much as Iraq nowadays – Continue Reading
Saudi airlines are forecast to suffer the most among their Middle East peers due to travel restrictions caused by the corona pandemic, but the biggest impact on GDP and jobs Continue Reading
The first crude export in more than five years from the Neutral Zone shared by Kuwait and with Saudi Arabia is set to take place this week, a shipping source Continue Reading
Iraq saw its oil revenues cut nearly in half in March when oil prices collapsed, even though OPEC’s second-largest producer exported more barrels of crude last month than it did Continue Reading
China’s independent refineries’ crude imports from the Middle East jumped 59% on the month in March, with Saudi Arabian shipments climbing to the top second place, a monthly survey by Continue Reading
American shale producers have launched an aggressive lobbying campaign in support of new sanctions against Saudi Arabia and Russia, urging the White House to compel the oil producing nations to Continue Reading
U.S. President Donald Trump said on Wednesday that Iran or its proxies planned a sneak attack on U.S. targets in Iraq, and warned they would pay a “very heavy price” Continue Reading
As Iran struggles with a devastating coronavirus outbreak, a broken economy and a severe shortage of medical equipment, it says that American trade sanctions are taking Iranian lives and has Continue Reading
Restrictions on movement and trade as a result of the Covid-19 pandemic have led to a significant shift in consumer behaviour in Saudi Arabia, with locals increasingly turning to digital Continue Reading
Iraq’s crude exports averaged 3.390 million b/d in March, little changed from February, but average crude prices plunged 45%, the oil ministry said Wednesday. Receive daily email alerts, subscriber notes Continue Reading
The committee proposed Kurdish oil be marketed by Baghdad It also recommended salary cuts, lower spending Delaying payments of foreign debt was also suggested Dubai — Iraq’s economic parliamentary committee Continue Reading
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices. Trump, speaking at the White House Tuesday, Continue Reading
The U.S. government has extended for another 60 days sanction waivers that allow Russia, China, and European countries to continue nonproliferation work at Iranian nuclear sites. Secretary of State Mike Continue Reading
Iran’s president said on Wednesday that, with the advent of the coronavirus, the United States had missed a historic opportunity to lift sanctions on his country, though the penalties had Continue Reading
The United States is expected to allow Russian, Chinese and European companies to continue their work at Iranian nuclear sites to make it harder for Tehran to develop nuclear weapons, Continue Reading
Saudi Aramco, the world’s largest oil producer, is weighing the sale of a stake in its pipeline unit to raise money amid a slump in crude prices, according to people Continue Reading
Given the twin facts that Oman has only around five billion barrels of estimated proved oil reserves (barely the 22 nd largest in the world) but is still dependent on Continue Reading
Natural gas exports from Iran to Turkey were halted early Tuesday after an explosion and fire on the pipeline just inside the border of Turkey, an official at Turkey’s energy Continue Reading
Protest movements across the Middle East and North Africa, from Algeria to Lebanon and Iraq, have been severely impacted by the COVID-19 pandemic. The fear of the virus’ spread has Continue Reading
Iraq, OPEC’s second-largest oil producer, is selling its crude at an average of $20/b and plans to talk to international oil companies about their payments and contracts, the country’s oil Continue Reading
Iraq, one of the oil producers worst hit by the oil price crash, is proposing that all foreign oil firms operating in OPEC’s second-largest producer cut their budgets by 30 Continue Reading
