Russian President Vladimir Putin has renamed the planned Power of Siberia 2 natural gas pipeline to China as the Power of Baikal, Russia’s Energy Minister Sergei Tsivilev announced on Wednesday. Tsivilev made the announcement at the Eastern Economic Forum in Vladivostok, saying the project was in the final stages before construction. He did not provide […]
Peru has announced that it is severing diplomatic relations with Iran, citing escalating conflict in the Middle East, concerns over Iran’s domestic human-rights record and disruption to international shipping through the strategic Strait of Hormuz. The decision marks a significant diplomatic step by the South American country as the confrontation between Iran and the United […]
Washington signals tougher sanctions while Gulf shipping risks deepen The United States has warned Iran that it is preparing to significantly increase economic pressure after two additional oil tankers were attacked while transiting the Strait of Hormuz, escalating fears of a wider regional confrontation and renewed disruption to global energy supplies. The latest incidents involved […]
Energy markets remain cautious as negotiations continue in the Middle East Commercial shipping traffic through the Persian Gulf and the Strait of Hormuz remained largely steady on Wednesday despite continued uncertainty surrounding ongoing peace and security talks involving regional powers and international mediators. Maritime tracking data showed that oil tankers, liquefied natural gas carriers, and […]
Egypt’s parliament has approved four new oil and gas exploration and development agreements, including a major project involving Perenco North Sinai Petroleum, as the government intensifies efforts to increase domestic energy production and strengthen the country’s long-term energy security. Four New Energy Agreements Approved The approved agreements cover exploration and production activities across North Sinai, […]
The United States has reinstated sanctions on Iranian oil exports after a series of attacks on oil and liquefied natural gas (LNG) tankers in and around the Strait of Hormuz, marking a significant escalation in its economic pressure campaign against Tehran and further straining already fragile diplomatic relations. The move comes as tensions between Washington […]
Baghdad Pushes for Higher Oil Output Amid Growing Frustration Iraq is considering all available options, including a potential withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), if the group fails to increase the country’s oil production quota, according to Iraqi officials familiar with the matter. The warning marks one of the strongest signals […]
In WASHINGTON the Biden administration is actively considering deploying thousands of additional U.S. troops to the Middle East as the conflict with Iran enters a potentially new and more intense phase, according to U.S. officials and sources familiar with the planning. Officials speaking on condition of anonymity said that strategic military options are being evaluated […]
Importers across the Gulf are scrambling to reroute shipments of food, medicines and industrial goods after the closure of the Strait of Hormuz triggered one of the most severe supply chain disruptions in decades. The shutdown of the narrow waterway a critical passage linking the Persian Gulf to global shipping lanes has effectively halted a […]
New Delhi/Singapore India’s state‑owned Mangalore Refinery and Petrochemicals Ltd (MRPL) has temporarily shut down a crude oil processing unit and several secondary units at its 300,000 barrels‑per‑day refinery in Mangaluru due to a shortage of crude oil supplies, three sources with direct knowledge of the situation said on Thursday. The closures, which began Wednesday evening, […]