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
Dampened China demand driving up Middle East purchases of Russian oil China's appetite for fuel oil has been slowly increasing since the COVID-19 pandemic when the country implemented some of the strictest lockdowns in the world. Legacy: Gulf
Saudi Aramco acquires $3.4 billion stake in a China petrochemical firm The world’s biggest oil exporter is making further inroads in China, Saudi Arabia’s top customer for crude. Saudi Arabia
Algeria, China sign 19 agreements during Tebboune's visit, including energy, technology Xi Jinping received Abdelmadjid Tebboune and his delegation at Beijing's Great Hall of the People to discuss bilateral relations. Algeria
Analysis On Gulf tour, Japan's PM secures energy ties as China’s influence grows Prime Minister Fumio Kishida’s three-day trip that began Sunday to Saudi Arabia, the United Arab Emirates and Qatar — its key energy suppliers — is seen as a crucial move to secure Japan’s energy future. By Salim A. Essaid
Kuwait's new sovereign wealth fund Ciyada to boost foreign investment The Gulf country already has the Kuwait Investment Authority with assets of about $803 billion, making it the fifth-largest sovereign wealth fund globally. Legacy: Gulf
Can Iran balance dependence on China with economic openness on India? The International North-South Transport Corridor project has become a matter of urgency for Russia, India and Iran, as it would help Moscow and Tehran develop new markets and evade sanctions. Iran
Republican lawmakers urge sanctions over Iran oil sales to China Senate Republicans are pushing for harsher penalties against Chinese-linked actors involved in Iran’s oil and petrochemical trade. Iran
Saudi Arabia imports record volumes of discounted Russian fuel oil in June Europe used to be the top market for Russian oil and petroleum products but all that has changed since Russia's invasion of Ukraine. Saudi Arabia
Analysis Qatar leans east to achieve 40% global LNG output by 2029 Qatar took steps last year to maintain its lead in the LNG market and increase future output with the approval of expansion projects set to raise production by 64% to 126 million tons per year by 2027. By Salim A. Essaid
OPEC oil export revenues surpass $870 billion, highest in decade The revenues from the Organization of Oil Petroleum Exporting Countries peaked in 2012, when they reached $1.2 trillion. Legacy: Gulf
Indonesia seizes Iran-flagged ship suspected of transferring oil illegally The 26-year-old tanker was seized and its crew were detained after the vessel was spotted in Indonesia’s North Natuna Sea, suspected of moving oil to Cameroon-flagged MT S Tinos without a permit on Friday. Iran
In Iraq and Algeria, TotalEnergies signs major deals The deal between Iraq and TotalEnergies has been delayed for years and aims to help Iraq fix its longstanding power issues. Iraq
