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Greece, Egypt trying to push Turkey out with EEZ

Egypt and Greece signed an agreement on Thursday designating an exclusive economic zone in the eastern Mediterranean‮‮ ‬‬between the two countries, an area containing promising oil and gas reserves, Egyptian Foreign Minister Sameh Shoukry said. Shoukry made the announcement at a joint press conference with his Greek counterpart Nikos Dendias …

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Iran battling oil slick in Gulf

Iranian teams have cleaned up an oil slick near field in the northern region of the Gulf that had extended over a six-square-km (2.3 square mile) area, an Iranian maritime official said on Saturday. The cause of the spill, which occurred on Wednesday, was being investigated, the director general of …

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UAE begins producing nuclear power

The United Arab Emirates has begun start-up operations in the initial unit of its first nuclear power plant, the Emirates Nuclear Energy Corporation (ENEC) said on Saturday. The Barakah nuclear power plant in Abu Dhabi, a major oil producer, is being built by Korea Electric Power Corporation (KEPCO). The plant …

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Greece charges Turkey with trespassing on seaways

Greece accused Turkey on Tuesday of attempting to encroach on its continental shelf in a serious escalation of tensions between the two NATO allies at odds over a range of issues. Turkey and Greece are at loggerheads over overlapping claims for hydrocarbon resources, brought into sharper focus by attempts of …

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Latest explosion at Iran power plant

An explosion occurred at a power plant in Iran’s central Isfahan province on Sunday but there were no casualties, the official IRNA news agency reported. The blast was caused by the wear and tear of a transformer at the power plant in Islamabad, the managing director of the Isfahan power …

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Tunis jobless protesters target oil pumps

Tunisian demonstrators shut an oil pumping station that feeds a coastal terminal on Thursday, escalating weeks of protests for jobs in the marginalized southern region of Tatouine, witnesses told Reuters. The move places further pressure on Tunisian leaders already struggling with political deadlock following the resignation on Wednesday of prime …

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Palestine plays regional power politics with proposed energy deal

by James M. Dorsey | Jul 14, 2020 An initial version of this story was first published in Inside Arabia A podcast version of this story is available on Soundcloud, Itunes, Spotify, Stitcher, TuneIn, Spreaker, Pocket Casts, Tumblr, Podbean, Audecibel, Patreon and Castbox. A Palestinian move to secure Palestine’s energy needs by tying them to high-stakes Turkish regional gambits constitutes an effort to reduce Palestinian dependence on …

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Flour mills to be privatised in Saudi

Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatisation, according to a statement by the state grain buyer and privatisation centre. The long-awaited flour mills sale was one of the first privatisations the kingdom planned as part of a wide-reaching overhaul of …

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Lebanon fixing exchange rate to help imports

The Lebanese central bank will provide foreign currency at a fixed exchange rate of 3,900 Lebanese pounds per dollar for importers and manufacturers of essential food items, it said on Monday. The central bank “will secure the necessary amounts in foreign currency to meet the needs of importers and manufacturers …

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Compromise with IAEA not out of the question, says Zarif

Iranian Foreign Minister Mohammad Javad Zarif tweeted on Thursday that “an agreeable solution is possible” for the U.N. nuclear watchdog’s request for access to two nuclear sites in the country. France, Britain and Germany, all parties to Iran’s nuclear deal with major powers, have submitted a draft resolution to the …

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Turkey to look for oil, gas in Libyan domain

Turkey may begin oil exploration in the eastern Mediterranean within three or four months under a deal it signed with Libya that was condemned by others in the region including Greece, Energy Minister Fatih Donmez said on Friday. Libya’s internationally-recognised Government of National Accord (GNA) signed the maritime delimitation deal …

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Russian wants oil majors to push prices up with OPEC

Russian Energy Minister Alexander Novak is due meet oil majors to discuss the implementation of global oil production curbs and the possible extension of the current level of cuts beyond June, sources familiar with the plans told Reuters. The meeting on Tuesday is a further sign that Moscow is committed …

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Russia, Iraq support oil price coordination

President Vladimir Putin discussed Russia’s cooperation with Iraq over an OPEC+ deal to reduce oil supply in a telephone conversation with Iraq’s Prime Minister Mustafa al-Kadhimi, the Kremlin said on Monday. The two men noted the importance of continuing their countries’ joint efforts in the oil markets, the Kremlin said. …

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Iraq, Saudi committed to coordinating oil cuts

Iraq and Saudi Arabia agreed on Saturday to continue working to re-balance markets and stressed their commitment to output cuts agreed by the Organization of the Petroleum Exporting Countries, Russia and other allies, Saudi state news agency SPA said. The comments came after Iraq’s Finance Minister Ali Allawi, who is …

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Venezuela uses military guanratee gasoline from Iran

Venezuela’s military will escort Iranian tankers bringing fuel to the gasoline-starved country as soon as they enter its exclusive economic zone, Defense Minister Vladimir Padrino said on Wednesday. His comments came after Venezuelan opposition leader Juan Guaido said the shipment should “alarm” Latin America. Both OPEC members are U.S. adversaries …

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