Qatar locks in US LNG through 2054 as it looks beyond Hormuz The Gulf state agreed to buy up to 4 million tons of US liquefied natural gas annually through 2054. Qatar
Gulf oil exports surpass prewar levels despite escalating tanker attacks According to data from Kpler, oil shipments through the Strait of Hormuz and alternative routes across the Middle East averaged more than 24 million barrels a day last week, surpassing prewar levels of 23.3 million. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption. Bahrain
Analysis As Iran’s oil lifeline runs dry, can it outlast Trump's economic siege? The country's last barrels of crude stockpiled beyond the reach of a US naval blockade fell to zero in October, raising the stakes for Tehran amid mounting economic distress. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis How much oil can cushion another Middle East supply shock? By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
East-Med Gas Forum evolves as Israel, Egypt enhance cooperation Israel’s Energy Minister Yuval Steinitz and six others sign the charter of the Eastern Mediterranean Gas Forum, which brings cooperation with other partners into a second, concrete phase. Palestine
Egypt announces record-high crude oil production for first time in decades Egypt’s Ministry of Petroleum has recently announced the achievement of a record number in producing crude oil, exceeding 65,000 barrels per day, for the first time since 1957. Egypt
OPEC+ pressures Iraq, UAE to further cut oil production Saudi Arabia and other OPEC members held a virtual meeting with Russia and other allied oil producers today to discuss the continuing low price of oil amid the COVID-19 pandemic. Saudi Arabia
Iranian fuel tankers reported off coast of South Africa The tankers are reportedly bringing oil to Venezuela and may be taking the longer African route to avoid US forces following a seizure in August. Iran
Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean At a time when tensions are on the rise in the eastern Mediterranean, Egypt and Cyprus are intensifying talks to start building an offshore gas pipeline from the Aphrodite gas field to Cairo in preparation for re-export to Europe. Egypt
Russia enters EastMed fray, offers to mediate with Turkey As Turkey bemoans its loneliness in a bitter row with Greece over energy exploration in the Mediterranean Sea, Moscow says it is ready to step in to mediate talks. Turkey
Owners of Iranian fuel seized by US raise challenge in court The US Justice Department says the companies challenging the fuel seizure are fronts for Iran's Islamic Revolutionary Guard Corps. Iran
US government seizes control of websites allegedly involved in Iran-Venezuela oil deal The seizure follows the US interception of fuel tankers from Iran en route to Venezuela this month amid increased US pressure on both countries. United States
Turkey plans new naval drills in eastern Mediterranean The Turkish navy will hold live-fire exercises in the eastern Mediterranean next week amid rising tensions with Greece. Turkey
How Mediterranean standoff complicates Turkey's natural gas agenda Too many factors — especially tensions with Greece — are at play to determine whether recent gas discovery in the Black Sea will translate into massive commercial and political gains for Ankara. Turkey
Germany appeals for calm as Turkish, Greek navies run drills in EastMed The Turkish and Greek navies conducted drills in the eastern Mediterranean this week as German Foreign Minister Heiko Mass seeks to bring both nations back to the negotiation table. Turkey
Turkey open to talks with Greece without preconditions: foreign minister During a meeting with his German counterpart, Turkish Foreign Minister Mevlut Cavusoglu said his government is ready for talks with Greece, but without preconditions. Turkey
