Why did the Met Opera lose its Saudi funding deal? The deal, announced as a nonbinding memorandum of understanding last September, would have seen the PIF inject up to $200 million into the opera institution over the next eight years. Saudi Arabia
Which airlines are cutting flights amid Hormuz fuel disruption? European and Asian airlines have been most impacted by the closure of the Strait of Hormuz, which is throttling jet fuel supplies. Iran
How are Iran-linked tankers still moving through Hormuz blockade? At least 19 Iran-linked tankers have passed through the US blockade on the strait to exit the Gulf while at least 15 have entered, according to the cargo-tracking group Vortexa. Iran
Iran seizes two cargo ships in Hormuz after Trump extends ceasefire The IRGC Navy’s seizure of two cargo vessels follows US Navy interdictions of two Iran-linked crude oil tankers in the Arabian Sea and the Indian Ocean earlier this week. Iran
Analysis Gulf energy deals face Iran war stress test as global expansion meets oil shock By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis How long can Iran's economy weather US naval blockade? By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
A thaw in Turkey’s relations with Egypt? Gulf Cooperation Council reconciliation may have set in motion Ankara’s desire for a reset with Cairo. Egypt
Oil prices continue to rise as Saudi Arabia and Russia talk production The price of Brent crude continued to increase above its pre-pandemic levels during the OPEC+ meeting Thursday. Legacy: Gulf
How Egypt benefits from gas agreement with Israel Egypt and Israel agreed to establish a pipeline connecting Israel’s offshore Leviathan natural gas field to the liquified natural gas terminal in Egypt, a move that was hailed as a major step toward economic, political and security gains for Cairo. Egypt
Egyptian energy minister on rare visit in Israel Egyptian Petroleum and Mineral Resources Minister Tarek el-Mulla visited Israel yesterday to advance the regional gas forum, meeting with Prime Minister Benjamin Netanyahu, Energy Minister Yuval Steinitz and Foreign Minister Gabi Ashkenazi. Israel
Turkey to purchase fourth drilling ship to expand energy projects Amid maritime boundary disputes in the eastern Mediterranean and after a 2020 gas field discovery the Black Sea, Turkey’s state-owned oil and gas company is finalizing the purchase of a fourth drilling ship to expand its energy development activities. Turkey
Iran demands answers from Indonesia over seized oil tanker Indonesia seized an Iranian fuel tanker on Sunday, accusing the vessel of failing to respond to radio calls and disabling its identification system. Iran
Oil prices at highest since February 2020 following Saudi output cut Oil producers are concerned that the continued COVID-19 pandemic could hurt demand. Legacy: Gulf
Iran to 'urgently resume' gas shipments to Iraq following weeks of cutbacks Tehran has been reducing its gas exports to Baghdad due to unpaid bills, worsening an already critical energy situation. Iraq
Daewoo fulfills Iraq’s Faw Port despite obstacles Iraqi government voted for signing a contract with the Korean company Daewoo to finish Faw Port project. Iraq
Gulf oil exporters cautiously optimistic for 2021 A new COVID-19 strain and the possible return of Iranian crude to global markets could inflict “short-term pains” to Gulf oil producers whose local populations hold on to the oil era. Legacy: Gulf
UAE joins Egypt-led Eastern Med Gas Forum Abu Dhabi announced that it has joined the Eastern Mediterranean Gas Forum based in Cairo, as part of efforts to counter Turkey’s ambitions in the area. Egypt
