Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Explainer Rubio says Iran ‘lost’ Hormuz. Has it? US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September. Iran
Turkey, Pakistan to deploy forces to Saudi Arabia amid Houthi attacks Turkish, Saudi and Pakistani officials agreed to bolster military cooperation under the Mecca defense pact as Houthi attacks and fighting in Yemen intensify. Turkey
Mideast oil exports surpass prewar levels despite pipeline, ship attacks Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Iran’s grip on Hormuz weakens, what leverage does Tehran have left? By A correspondent in Tehran In Tehran, reporting on politics
UAE's ADNOC invests in Mozambique's natural gas in first African foray The deal will give ADNOC a share of the liquified natural gas output from the concession, which has a combined capacity of over 25 million metric tons per pear, the company said in a statement. United Arab Emirates
Why UAE’s ADNOC is mulling setting up US trading desk The UAE state-backed company recently held talks to recruit senior energy traders to oversee the expansion, Reuters reported. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Gulf consolidates stature as sovereign wealth hub, lags on per capita holdings A frenzy of recent initial public offerings has again highlighted Gulf states' statuses as global wealth hubs. By Sebastian Castelier In Dubai, reporting on regional business
Saudi Arabia 'conservative' on oil revenue as it pares back Vision 2030 plans Mohammed Al-Jaadan warned that being a resource-rich country was a curse as well as a blessing because being dependent on one commodity such as oil can hold a country "hostage" to the volatility of global demand and prices. Saudi Arabia
Turkey’s BOTAS signs $1.1B long-term LNG deal with ExxonMobil Turkey and ExxonMobil have signed a major liquified natural gas deal as Ankara looks to diversify its energy sources. Turkey
What's behind Saudi Arabia's increase in crude oil prices for Asian market? The kingdom wants to restrain oil production to keep demand up, but the increase in prices to Asian customers is more related to refining values, says one expert. Saudi Arabia
Turkey eyes ExxonMobil LNG as country reduces dependence on Russian gas The long-term deal being discussed with the American energy giant would give Turkey up to 2.5 million metric tons of LNG a year, Turkey's energy minister said in an interview. Turkey
UAE company agreed to loan $13B to South Sudan in exchange for oil A $13 billion loan to South Sudan, funded by Hamad Bin Khalifa Department of Projects, marks the largest-ever cash deal for the country. United Arab Emirates
Oman LNG deal spree continues with France's TotalEnergies The French energy major is also working on the Marsa project in Oman, which it claims is the first LNG bunkering hub in the Middle East. Oman
Soaring regional tensions boost Gulf budgets, threaten long-term goals Most of the Gulf’s economic diversification plans still rely heavily on oil and gas revenues, especially in Saudi Arabia, where the most speculative parts of Vision 2030 face a lack of interest by foreign investors. By Sebastian Castelier In Dubai, reporting on regional business
Iraq plans to reopen own oil pipeline as talks to restart Kurdish route stall The move to reopen the pipeline will irk the Kurdistan Regional Government, as it introduces a rival route to a section of the pipeline in Kurdistan that has been shut for a year and is a crucial economic source for the semi-autonomous region. Iraq
Turkey, Iran launch talks on energy cooperation The talks, aiming to enhance energy cooperation between the two countries, kicked off in Tehran. Turkey
