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
Egypt leads international coalition to confront Turkey in eastern Mediterranean Egypt, Jordan, Israel, Cyprus, Greece and Italy signed the charter to transform the EastMed Gas Forum into a regional organization based in Cairo, in an attempt to form an international lobby capable of confronting Turkish ambitions in the eastern Mediterranean. Egypt
Saudi Arabia warns of ‘oil spot’ near aging tanker off Yemen's coast UN officials have described the FSO Safer, an aging vessel that contains 1.14 million barrels of light crude oil, as a ticking time bomb. Saudi Arabia
Iran reportedly loading Venezuelan oil for sale abroad Bloomberg reported that an Iranian ship reached the South American country last week. The United States is trying to stop fuel transfers between the two countries. Iran
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
