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Tag Archives: Oil

Biden a threat to cordial US-Saudi relations

Saudi Arabia’s crown prince enjoyed a near free pass under his personal relationship with U.S. President Donald Trump, but the kingdom’s brazen young leader will have to tread more carefully should Democrats take the White House and reset strategic ties. Riyadh’s human rights record, with the brutal 2018 murder of …

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US renews Iraq waiver to import energy from Iran

The United States said on Thursday it had renewed a waiver for Iraq to import Iranian electricity, this time for 60 days to enable Baghdad to take “meaningful actions” to reduce its energy dependence on neighbouring Tehran. The waiver will continue to exempt Iraq from U.S. sanctions reimposed on Iran, …

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Iran holds annual drill in Strait of Hormuz

Iran’s military launched an annual drill in the Gulf near the strategic Strait of Hormuz waterway, Iranian state TV reported on Thursday, at a time of high tension between Tehran and Washington. The three-day exercise in the eastern side of the strait in the Gulf of Oman is aimed at …

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UAE warns Turkey about meddling in Libya

The United Arab Emirates minister of state for foreign affairs said on Saturday that Turkey should stop interfering in Arab affairs, criticising comments on Libya made by Turkey’s defence minister. Turkish media had reported the Turkish minister making remarks critical of the UAE’s actions over Libya. The UAE, alongside Egypt …

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Qatar, Turkey, Trump all taking positions as Egypt prepares for Libya intervention

Qatar’s state minister for defense affairs met on Monday with the Turkish defense minister and Libya’s minister of interior to discuss the latest developments in Libya, Qatar’s ministry of defense said on Twitter. Egyptian lawmakers approved on Monday the deployment of armed forces in combat missions abroad giving President Sisi …

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Erdogan warns Egypt not to interfere in Libya

Turkish President Tayyip Erdogan denounced Egypt and the United Arab Emirates on Friday for supporting forces based in eastern Libya, after Egypt’s President Abdel Fattah al-Sisi met Libyan tribesmen who called for Cairo to intervene in the civil war. Turkey has been providing military aid to the Tripoli-based government in …

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Iran celebrates first spy satellite

Iran’s Revolutionary Guards force said on Wednesday it had launched the country’s first military satellite which had gone into orbit. It said a “Messenger” satellite carrier was used to launch the Noor (light) satellite, without going into further detail on the technology used. The launch took place at a time …

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Iran parades bomb-carrying drones

The Iranian armed forces have acquired three bomb-carrying drones with a range of 1,500 kilometers (932 miles), Defense Minister Amir Hatami said on state television on Saturday. The drones could monitor “enemy movements from a considerable distance” and were capable of combat missions, he said at the delivery ceremony in …

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Offshore drilling to begin in Lebanese waters

Lebanon’s search for offshore oil and gas will begin on Thursday, President Michel Aoun said, as the country grapples with an unprecedented financial crisis. The results from the first exploratory well are expected in the next two months, the chairman of the Lebanese Petroleum Administration (LPA) said earlier on Wednesday. …

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Non-Saudis to get 23% of Aramco IPO

Non-Saudi investors were allocated 23% of the institutional tranche of Saudi Aramco’s initial public offering (IPO), an executive at one of the lead banks on the deal told the Al Arabiya news channel on Monday. Wassim Al Khatib, head of investment banking at National Commercial Bank (1180.SE) also said the …

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Gulf-India investment ties expanding

The Indian government is preparing to reform domestic fuel marketing in India, opening up this lucrative sector to foreign oil companies, especially those in the Gulf. To set this process in motion, the Ministry of Petroleum and Natural Gas has prepared a cabinet note which will end rules that essentially …

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Saudi Aramco to organise investor all next month

Saudi Aramco is inviting analysts and investors to join its first investor earnings call in August, according to an Aramco email, as the energy giant plans what would be the world’s biggest stock market listing. “Saudi Aramco will be holding its first investor earnings call in August to coincide with …

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Mubadala signs agreement with Premier Oil

Mubadala Petroleum announced that it has signed an agreement with Premier Oil to farmout a 20 percent participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts, PSCs. Mubadala Petroleum is the operator of both the Andaman I and adjacent South Andaman PSCs. Completion …

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EU throws in lot with Iraq attempt to disfuse US-Iran confrontation

The European Union fully backs Iraq’s efforts to de-escalate growing tensions between the United States and Iran because conflict will have dire consequences for all sides, EU foreign policy chief Federica Mogherini said on Saturday. Speaking at a news conference with Iraqi Foreign Minister Mohammed al-Hakim during a visit to …

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Crew of Iranian tanker released

Gibraltar police said on Friday that all four crew members of the Iranian Grace 1 tanker have been released on bail without charge after it was detained last week on suspicion of breaking European sanctions by taking oil to Syria. Gibraltar police said earlier on Friday that they had arrested …

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Turkey continues drilling in Cypriot waters

A second Turkish drillship, which is expected to begin drilling for oil and natural gas near Cyprus this week, arrived off the Mediterranean island’s northeastern coast on Monday, Refinitiv Eikon shipping data showed. Last month, European Union leaders warned Turkey to end its gas drilling in disputed waters around the …

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British navy interdict supertanker headed to Syria

British Royal Marines and officials in Gibraltar have detained the supertanker Grace 1 suspected of carrying crude oil to Syria, in breach of European Union sanctions, the government of Gibraltar said. In a statement the government said it had reasonable grounds to believe that the Grace 1 was carrying its …

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Fujairah Oil Industry Zone attracting oil bunkering

Already well-established as one of the world’s top centres for oil bunkering, the Port of Fujairah and the adjacent Fujairah Oil Industry Zone, FOIZ, continue to attract further business and investment, recent announcements show. Last month, Fujairah-based Brooge Petroleum and Gas Investment Company and Dubai-based Sahara Energy Resources announced plans …

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South Africa to invest in Sudanese oil sector

South Africa will invest $1 billion in South Sudan’s oil sector, including in the construction of a refinery, the South African minister for energy and his South Sudanese counterpart for petroleum said on Friday. South Sudan’s oil industry is dominated by Asian firms including China National Petroleum Corporation (CNPC), Malaysia’s …

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