Middle East

Petronet In Talks with Qatar for LNG Deal Renewal amid Turbulent Markets

India's Petronet LNG has begun talks with Qatar to renew a multiyear gas deal despite market "turbulence", making new long-term contracts difficult as sanctions on Russian fuel have squeezed an already tightly supplied market.

Turkey Says Gas Pipeline with Israel Not Possible in Short Term

A potential gas pipeline project between Turkey and Israel is not possible in the short-term and building an alternative system to cut dependence on Russia will not happen quickly, Turkish Foreign Minister Mevlut Cavusoglu said.

Germany, Qatar Discuss Long-Term Gas Deal to Reduce Russian Dependence

Germany and Qatar are negotiating a long-term energy partnership, government officials from both sides said Sunday, as Europe's biggest economy seeks to become less dependent on Russian energy sources.

Energean Enters Israeli Gas Purchase Agreement with IEC

Starting with the commencement of first gas production from Karish, the agreement will be valid for an initial one-year period with an option to extend subject to ratification by both parties.

Qatar: 'Almost Impossible' to Quickly Replace Russian Gas Supplies

Neither Qatar nor any other single country has the capacity to replace Russian gas supplies to Europe with LNG in the event of disruption due to a conflict between Russia and Ukraine, Qatar's energy minister said on Tuesday.

South Korea, Iran Discuss Resuming Oil Trade

South Korea and Iran have held working-level talks on resuming imports of Iranian crude oil and unfreezing Iranian funds held in the East Asian nation, South Korea's foreign ministry said on Wednesday.

Israel Will Not Object if Exported Gas Reaches Lebanon - Minister

Israel's energy minister said on Tuesday that it would not be a problem if Israeli natural gas that is exported to Egypt makes its way to Lebanon, a long-time enemy that is dealing with an energy crisis.

UAE's Dragon Makes Oil Discovery in Gulf of Suez

United Arab Emirates-based Dragon Oil has made its first oil discovery in the Gulf of Suez, the Egyptian petroleum ministry said Tuesday.

Iraqi Court Deems Kurdish Oil and Gas Law Unconstitutional

Iraq's federal court on Tuesday deemed an oil and gas law regulating the oil industry in Iraqi Kurdistan unconstitutional, according to a document seen by Reuters.

Geopolitics, Not Fundamentals, Driving Oil Higher - UAE Minister

Tensions between Russia and the West are driving oil prices, rather than the kind of fundamental fuel shortage that would justify accelerated output increases from OPEC+, UAE energy minister Suhail al-Mazrouei said on Monday.

Global News February 2022

EIA Updates Oil Price Forecasts Through 2023, Indian Oil Investing $944 Million on Gas Sales in New Areas, Cruz’s Nord Stream 2 Sanctions Bill Fails to Pass in US Senate and more.

Qatar Has Not Approached Asian Buyers Over Gas Diversions to Europe

Qatar's energy chief said it has not approached its Asian customers over diverting gas to Europe, adding that one country can't fill the gap if Russia stops piping gas to the region

Lebanon, Jordan Agree to Bring Electricity Through Syria

Lebanon signed a U.S.-backed deal with Jordan on Wednesday that aims to ease crippling power shortages by transmitting electricity across neighboring Syria.

Oil Hits 2014 Highs as Turkey Outage Adds to Supply Concerns

Oil prices rose for a fourth day on Wednesday after a fire on a pipeline from Iraq to Turkey briefly stopped flows, increasing concerns about an already tight short term supply outlook.

Jordan to Sign Deal to Supply Lebanon with Electricity - Energy Minister

Jordan will next week sign a deal with Lebanon and Syria to supply Lebanon with electricity under a U.S. backed regional plan to help the country ease acute power shortages.

Saudi-Polish Deal Dents Russian Oil Dominance in Baltic

Saudi Arabia’s planned purchase of Polish refining assets is set to put OPEC's top producer in charge of two thirds of Poland's oil supply, eroding previously dominant supplier Russia's leverage.

Global News January 2022

US Oil Pipelines at Half-Capacity, U.S. Natural Gas Production to Increase in 2022, Osaka Gas Plans to Enter India’s City Market, and more.

Aramco Oil Pipelines Investors Miss Funding Goal With $2.5 Billion Bond Sale

A group of institutional investors that took a stake in Saudi Aramco's oil pipelines network sold $2.5 billion in dual-tranche amortizing bonds, significantly below the amount sought.

US Tells Lebanon Not to Fear Sanctions Over Energy Supply Plans, PM's Office Says

Under a plan agreed between Lebanon, Egypt, Jordan and Syria, Egyptian gas would be piped to Lebanon via Jordan and Syria to help boost Lebanon's power output.

Iran Leads Midstream Project Starts in the Middle East by 2025, GlobalData Projects

Iran is likely to set to start operations at 27 midstream oil and gas projects between 2021 and 2025, accounting for 22% of upcoming midstream projects in the Middle East.

Israel's Environment Ministry Blocks Oil Pipeline Deal With UAE

Israel's Environmental Protection Ministry blocked a deal with partners from the United Arab Emirates to transport oil from the Gulf to Europe via an Israeli port city.

Pipeline Blast Reported at Iran Gas Refinery, No Casualties

A gas condensate pipeline at a gas refinery in southwestern Iran exploded on Thursday after being hit by an excavator, Iranian news agencies reported.

Egypt's LNG Exports at Full Capacity After Gas Price Surge

Egypt's natural gas exports are at full capacity of about 1.6 Bcf/d from its two natural gas liquefaction terminals as it seeks to benefit from a surge in international gas prices, Petroleum Minister Tarek El Molla said.

Global News December 2021

German Regulator Stalls Nord Stream 2, Ida Reduced Gas Production More Than Any Hurricane in Past Decade, Israeli Energy Minister Proposes Ending UAE Pipeline Deal and more are included in this month's global headlines.

Halliburton Says It's Not Buying Exxon Stake in Iraqi Oilfield

Halliburton has not proposed buying Exxon Mobil's stake in Iraq's West Qurna 1 oilfield, a spokesperson for the U.S. oil services company said on Wednesday, denying comments from a senior official from Iraq's Basra Oil Co.

Waha Pipeline Work to Cut Libyan Oil Output for a Week

Libya's Waha oil company will carry out maintenance operations on a pipeline starting on Wednesday that will reduce crude output for one week

Greece Teams Up With Egypt on Gas Supply, Infrastructure

Greece and Egypt agreed to expand their cooperation in the supply of liquefied natural gas (LNG) and examine the possibility of constructing a subsea gas pipeline between the two countries, the Greek energy ministry said.

US to Release Oil from Reserves; OPEC+ Rebuffs Call for More Crude

The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to cool prices after OPEC+ producers repeatedly ignored calls for more crude.

Blast Hits Oil Pipeline in Southern Iran, No Casualties – TV

An oil pipeline in southern Iran exploded on Wednesday, Iran's state TV reported on Wednesday, citing aging infrastructure as the reason for the blast.

Supplies of Egyptian Gas Expected in Lebanon by Early 2022

Egypt is expecting to begin exporting 60-65 million cubic feet of gas per day to Lebanon by early next year, Egyptian Petroleum Minister Tarek El Molla said on Tuesday.