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President Sisi pledges Egypt’s support for Lebanon

Egyptian President Abdel Fattah al-Sisi on Monday expressed his “full solidarity” with Lebanon in a meeting in Sharm el-Sheikh with Prime Minister Najib Miqati. Al-Sisi also voiced Egypt’s “readiness to contribute to delivering the Egyptian gas” to Lebanon “according to the signed treaties,” giving instructions to “facilitate the issue and …

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Protesters force Lebanon into power blackout

Lebanon’s state electricity company says that its power plants have stopped working after protesters stormed a key substation and tampered with the electrical equipment. The small country is already grappling with round-the-clock power cuts that last at least 20 hours a day due to a financial crisis that has hampered …

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Lebanon prepares gas line for Egyptians

Energy minister Walid Fayad has launched two projects in the country’s north to facilitate the flow of natural gas from Egypt. The move aims to improve electricity production and expand the country’s tanks to increase oil reserves. The revival of the Arab Gas Pipeline to deliver Egyptian gas to Lebanon …

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Maduro announces plans to go to Iran

Venezuelan President Nicolas Maduro said on Sunday he will soon visit Iran to finalize new agreements on cooperation with the Middle Eastern country, which has become Venezuela’s top ally in boosting oil output amid U.S. sanctions. Venezuela and Iran have strengthened their ties since last year. Maduro’s government has received …

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Israel scraps planned UAE pipeline to Europe for environmental reasons

“We have blocked the entry of dozens of oil tankers to the Gulf of Eilat”, said Israeli Environmental Protection Minister Tamar Zandberg, a member of the social democratic Meretz party.https://tpc.googlesyndication.com/safeframe/1-0-38/html/container.html She described the move as a “huge and dramatic environmental achievement”, that was based on the ministry’s policy of zero …

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Lebanon in energy talks with Paris

Energy Minister Walid Fayyad traveled Sunday to Paris on an official visit during which he will meet with top officials in the energy, electricity and water sectors, state-run National News Agency reported. “He will also meet with a number of officials at French electricity company EDF, the French Development Agency …

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Welcome to the World CEO: “We have the unique chance to smart investments and sustainably change the tourism industry”

The coronavirus pandemic will likely cost the global tourism sector $2 trillion in lost revenue in 2021, the UN’s tourism body estimated last month, calling the sector’s recovery “fragile”. “We now have the unique chance to smart investments and to sustainably change the industry for the better”, said Stefanie Schachtschabel …

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Cyprus explores for gas in defiance of Turkey

Cyprus on Friday rebuffed claims it was violating Turkey’s continental shelf by awarding an exploration licence in the Mediterranean to Exxon Mobil XOM.N and Qatar Petroleum [RIC:RIC:QATPE.UL], saying it was within its sovereign rights. Turkey on Thursday accused Cyprus of violating its continental shelf by awarding an exploration licence to the two …

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Iran scores new enrichment success

Iran has started producing enriched uranium with more efficient advanced centrifuges at its Fordow plant dug into a mountain, the U.N. atomic watchdog said on Wednesday, further eroding the 2015 Iran nuclear deal during talks with the West on saving it. The announcement appeared to undercut indirect talks between Iran …

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Jordan to expand oil exploration in 2022

Jordan will begin oil exploration in two areas, Al-Jafr and Al-Sarhan, in February, the country’s energy minister Saleh al-Kharabsheh said on Tuesday, as reported by Jordan state television. A detailed study is currently underway to consider drilling three medium-depth wells at the al-Jafr site, the minister added, which will be …

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UK, Israel form anti-nuclear Iran coalition

Britain and Israel will “work night and day” in preventing Iran from becoming a nuclear power, the foreign ministers of the two countries wrote in a joint article. “The clock is ticking, which heightens the need for close cooperation with our partners and friends to thwart Tehran’s ambitions,” the UK’s …

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OPEC weighing consequences of new COVID variant

OPEC and its allies have postponed technical meetings to later this week, giving themselves more time to assess the impact of the new Omicron coronavirus variant on oil demand and prices, according to OPEC+ sources and documents. Oil prices crashed together with other financial markets on Friday by more than …

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OPEC worried about latest COVID variant

OPEC+ is monitoring developments around the new coronavirus variant, sources said on Friday, with some expressing concern that it may worsen the oil market outlook less than a week before a meeting to set policy. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, is already facing …

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Lebanon offer 8 offshore petroleum blocks

The Lebanese Petroleum Authority (LPA) set out the plan in a last-minute arrival at the Petex conference, held this week in north London. The round covers the eight blocks still available in the offshore. Lebanon licensed Blocks 4 and 9 in 2018 to TotalEnergies, Eni and Novatek. The companies drilled …

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US wants OPEC to comply over oil price demands

The White House on Friday pressed the OPEC producer group again to maintain adequate global supply, days after U.S. discussions with some of the world’s biggest economies over potentially releasing oil from strategic reserves to quell high energy prices. The Biden administration has asked https://www.reuters.com/business/energy/exclusive-us-asks-big-countries-coordinate-releases-oil-reserves-sources-2021-11-17 a wide range of countries, …

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