U.S. Nears Return to Iran Nuclear Deal
Iran, the U.S. and other world powers are nearing a deal to revive the 2015 nuclear accord, although negotiators are still wrangling over significant final demands from Tehran, including the Continue Reading
Western Oil Companies Grapple With Uncertainty In Kurdistan
International oil firms working in Kurdistan could face canceled contracts after the Supreme Court of Iraq made two legal rulings on oil sales and contracts. The recent rulings hark back Continue Reading
Kuwait, Iraq target new hydrogen and solar projects
Highlights Kuwait considering blue and green hydrogen pilot Iraq to provide sovereign guarantee for solar projects Baghdad working on long-term technical contract with Acwa Power Iraq and Kuwait are planning Continue Reading
Iran Rises Above Russia On The Oil Market Radar
Iran has risen above Russia on the oil market radar due to reports from multiple sources that a new nuclear deal is very close to being agreed upon. Rumors that Continue Reading
Iraq’s January oil output down by 160,000 bpd
Bad weather at southern export terminals disrupted tanker loadings and forced shut-ins at oil fields, but spare capacity is ready to come online as OPEC quotas rise. Iraq’s federal government Continue Reading
Iraq may import Qatari gas in 15 months if talks, infrastructure finalized
Qatari gas to lower reliance on Iranian energy: minister Iraq’s power outages due to lower Iranian supply Iraq’s power link with Saudi to take 2-3 years to complete Iraq may Continue Reading
Middle Eastern Oil Is Flavor of the Month as Benchmarks Diverge
Crudes from the Middle East are off to a strong start this month as a major divergence in global benchmarks favors grades priced off Dubai oil, highlighting strong global demand Continue Reading
Iraq Ready To Execute Four Game-Changing Energy Projects
According to Iraq’s Oil Ministry, the country is ready to move into the ‘execution phase’ of its four-project deal with French energy supermajor TotalEnergies The first of these projects is Continue Reading
Iran deal with oil sanctions relief not a sure bet despite latest US waiver: analysts
Highlights Vienna talks remain top global oil supply risk in 2022 Platts Analytics sees interim deal returning 700,000 b/d The US-Iran talks remain far from certain to reach a deal Continue Reading
Iran heads to become gasoline importer, ready to boost oil output
Iran also expanding refining capacity China to invest $20 bil in oil sector Refining capacity to serve petrochemicals Iran will become a gasoline and gas oil importer in the next Continue Reading
Saudi Arabia Raises Asia Oil Prices as Crude Surges
Saudi Arabia raised oil prices for its main market of Asia after crude’s surge to almost $95 a barrel. State firm Saudi Aramco increased pricing for all grades for Asian Continue Reading
Saudi Aramco Looks to Sell $50 Billion Stake in Fresh Share Listing
Saudi Arabia has restarted plans to list more shares of Aramco, the world’s most valuable oil company, according to people familiar with the company’s strategy, with an ambition to sell Continue Reading
Turkey And Israel Could Work Jointly To Ship Gas To Europe
Turkey is interested in resuming talks with Israel about using Israeli natural gas and transporting it to Europe, Turkish President Recep Tayyip Erdogan said on Friday, as carried by the Continue Reading
OPEC’s No.2 Fails To Reach Oil Output Quota
OPEC’s second-largest producer, Iraq, is one of the OPEC+ members struggling to boost its oil production as much as its quota in the pact allows, with January output 120,000 barrels Continue Reading
January oil revenues soar to decade high despite dip in exports
Iraq exported 3.619 million barrels per day (bpd) in January nationwide, a slight decline from December, but high oil prices led to monthly revenue levels unseen in a decade.Iraq’s federal oil Continue Reading
U.S. Sees Iran’s Nuclear Program as Too Advanced to Restore Key Goal of 2015 Pact – WSJ
The Biden administration expects a restored nuclear deal would leave Iran capable of amassing enough nuclear fuel for a bomb in significantly less than a year, a shorter time frame Continue Reading
Arab Gulf’s Only Coal-Fired Power Plant to Switch to Gas
The Hassyan power station near Dubai. Dubai plans to convert the Hassyan power station, the Arab Gulf’s first and only coal-fired power plant, to use natural gas. The move will Continue Reading
KRG extends gas pipeline network, raising potential for exports
Iraq’s semi-autonomous Kurdistan Regional Government (KRG) is extending its gas pipeline network toward the Turkish border — a project that promises to unlock gas supplies at multiple fields, increase domestic Continue Reading
New Energy Deals Are Transforming Geopolitics In The Middle East
China has been attempting to expand its One Belt, One Road project through the Middle East by heavy funding of energy projects in the region. Ever since the 1973 Arab Continue Reading
Islamic State hits back, aided by power vacuum in Iraq and Syria
Security forces jostle for control in parts of Iraq, Syria Rivalries undermine security and play into militants’ hands Islamic State launches series of big attacks including on prison Armed forces Continue Reading
U.S. to send fighter jets to assist UAE after Houthi attacks
U.S. Secretary of Defense Lloyd Austin responds to questions during a House Armed Services Committee hearing on “Ending the U.S. Military Mission in Afghanistan” in the Rayburn House Office Building Continue Reading
Omicron arrives in Iraq
The number of confirmed coronavirus cases is increasing again in Iraq as the omicron variant spreads and vaccination rates remain low, but the new strain’s milder symptoms are relieving pressure Continue Reading
IRAQ DATA: Federal oil exports in Jan drop 2% despite higher OPEC+ quota
Highlights Exports fall to 3.203 mil b/d in Jan vs 3.277 mil b/d in Dec Jan production quota at 4.281 mil b/d vs 4.237 mil b/d in Dec Kirkuk exports Continue Reading
U.S. and Allies Close to Reviving Nuclear Deal With Iran, Officials Say – The New York Times
The United States and its European allies appear on the cusp of restoring the deal that limited Iran’s nuclear program, Biden administration officials said on Monday, but cautioned that it Continue Reading
China Tightens Its Grip On Iraq With Three Major Oil Deals
China has concluded three major oil deals with Iraq, most notably finalizing the 25-year deal for the Mansuriya field which could have huge geopolitical consequences. The signing of these deals Continue Reading
Qatar Willing To Sell More LNG To EU Under Certain Circumstances
One of the world’s largest LNG exporters, Qatar, wants the European Union to restrict the resale of gas cargoes outside the EU if Qatar agrees to divert emergency supply to Continue Reading
UAE foils missile attack as Israeli president visits
Yemen’s Houthis threaten more attacks on UAE Israeli president presses on with visit to Expo Dubai UAE prides itself as safe business haven Attacks mark escalation in Yemen conflict UAE, Continue Reading
Canada’s Calvalley says it suspended oil operations in Yemen’s Hadramout
Canada’s Calvalley Petroleum has suspended its operations and exploration in Yemen’s Hadramout province due to deteriorating security conditions after having resumed activities in the war-torn country in mid-2019, the company Continue Reading
Omicron arrives in Iraq
The number of confirmed coronavirus cases is increasing again in Iraq as the omicron variant spreads and vaccination rates remain low, but the new strain’s milder symptoms are relieving pressure Continue Reading
EXPLAINER: Why Yemen’s war has spilled into the Emirates
Twice in the past week, Yemen’s rebels have launched attacks with missiles and drones on the United Arab Emirates, a major escalation for one of the world’s most protracted conflicts. Continue Reading
What’s In The 20-Year Draft Agreement Between Iran And Russia?
While the new 20-year cooperation between Iran and Russia is yet to be finalized, significant progress appears to have been made on its drafting. If Russia agrees to sell Tehran Continue Reading
Turkey Hit By Unprecedented Power Outages As Iran Halts Gas Flows
A disruption to natural gas imports from Iran has caused an unprecedented level of power cuts in Turkey. The power cuts have largely impacted major industrial zones, with some companies Continue Reading
Iraq Is Preparing For Higher Oil Demand
Iraq is already scheduling crude oil shipments for delivery in March thanks to strong demand, the deputy head of the State Organization for the Marketing of Oil, or SOMO, told Continue Reading
UAE intercepts Houthi attack, Saudi Arabia reports two injured by fallen missile
The United Arab Emirates intercepted and destroyed two Houthi ballistic missiles targeting the Gulf country on Monday with no casualties, its defence ministry said, following a deadly attack a week Continue Reading
Iran’s oil minister asks for nation’s ‘cooperation’ after gas demand hit record high
Iran has 28 mil gas users Cold weather to boost demand even more Some industries may face restricted supplies Iranian oil minister Javad Owji on Jan. 23 said the country’s Continue Reading
Iraq finalizes Mansuriya contract for next government
Iraq has finalized contract terms with China’s Sinopec for the development of the Mansuriya gas field, although the deal will not be signed before a new government is formed. If Continue Reading
Iran’s Oil Industry Is Preparing For Life After Sanctions
While negotiations continue over the potential lifting of U.S. sanctions on Iran, Iran is planning to invest heavily in its oil industry and boost production Its largest investment is a Continue Reading
Northern exports resume after Turkey pipeline explosion
An explosion Tuesday evening on the Turkish side of the Iraq-Turkey Pipeline (ITP) temporarily stopped Iraq’s northern oil export flows. Turkish authorities were able to resume pipeline operations by midday Continue Reading
Attack on Abu Dhabi risks upsetting a cautious detente in the Gulf
Abu Dhabi, federal capital of the United Arab Emirates, was this week hit by a drone attack claimed by Iran-backed Houthi rebels in Yemen. The assault risks ending the first Continue Reading
Northern exports resume after Turkey pipeline explosion
An explosion Tuesday evening on the Turkish side of the Iraq-Turkey Pipeline (ITP) temporarily stopped Iraq’s northern oil export flows. Turkish authorities were able to resume pipeline operations by midday Continue Reading
CHINA DATA: Iranian crude inflows seen in Dec for first time in 2021, at 62,000 b/d
Highlights Russia overtakes Saudi Arabia to be China’s top crude supplier in Dec Saudi Arabia helps Middle East increase market share to 50% in 2021 Value of China’s crude imports Continue Reading
Oil flow resumes in Kirkuk-Ceyhan pipeline after Turkey blast
The flow of crude oil through the Kirkuk-Ceyhan pipeline has resumed, after it was halted on Tuesday due to a blast near the pipeline in the southeastern Turkish province of Continue Reading
Houthis Fired Drones and Missiles in Abu Dhabi Attack, Investigation Finds
Iran-backed Houthi militants in Yemen used advanced missiles and drones to target the United Arab Emirates on Monday, according to people briefed on the investigation—a deadly demonstration of the expanding threat to Continue Reading
More than a dozen dead in coalition strikes on Yemen’s Sanaa
An airstrike killed about 14 people in a building in the Yemeni capital of Sanaa, residents said on Tuesday, during strikes across the city launched by the Saudi-led coalition fighting Continue Reading
One of the World’s Wealthiest Oil Exporters Is Becoming Unlivable
Trying to catch a bus at the Maliya station in Kuwait City can be unbearable in the summer. About two-thirds of the city’s buses pass through the hub, and schedules Continue Reading
Iraq’s December oil surge caps a year of recovering production
Iraq’s overall oil production recovered steadily in 2021 — rising from just over 4 million barrels per day (bpd) in January to nearly 4.5 million bpd in December — as Continue Reading
Iraqi cleric’s push to sideline Iran-backed factions risks clash
Iraq might for the first time in years get a government that excludes Iran-backed parties if a powerful populist cleric who dominated a recent election keeps his word, Iraqi politicians, Continue Reading
UAE says suspects drones behind Abu Dhabi fires, Yemen’s Houthis claim attack
Yemen’s Iran-aligned Houthi movement said on Monday it had carried out an attack on the United Arab Emirates after authorities in the Gulf state reported two fires in the capital Continue Reading
Iraq’s December oil surge caps a year of recovering production
Iraq’s overall oil production recovered steadily in 2021 — rising from just over 4 million barrels per day (bpd) in January to nearly 4.5 million bpd in December — as Continue Reading
Russia Says Nuclear Talks Are Making Progress: Iran Snapshot
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets. Latest developments Russia said nuclear talks were “moving forward,” in the latest possible sign of Continue Reading