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
Turkey’s FM tackles long-held disputes with Iraq in first official visit Hakan Fidan chose Iraq for his first official visit as Turkey's new foreign minister, but the visit appeared to yield little progress on long-standing disputes between Ankara and Baghdad. Turkey
US shale giant to invest $1.4B in Egyptian fossil fuel projects At the end of last year, Apache Corp's main interests in Egypt were in the Western Desert with 5.3 million gross acres in six separate concessions. Egypt
US finally unloads Iranian oil from seized tanker The Iranian oil aboard the Suez Rajan sat unloaded off the coast of the United States for months amid threats from Iran, causing concern in Congress. Iran
Israeli environmental report warns of threats to Eilat coral reef Following an alarming report by the Ministry of Environmental Protection, Israeli environmentalists are calling for tighter limits on oil shipping in the Gulf of Eilat. Israel
Hungary inks deal for Qatari gas Hungary and Qatar have signed a gas exportation deal as Europe diversifies its energy sources. Qatar
US lawmakers question if Iranian 'intimidation effort' delaying seized oil transfer American shipping companies have reportedly been reluctant to offload Iranian oil from a tanker anchored off the coast of Texas. Iran
Saudi oil exports fall to 21-month low The decline in the kingdom’s oil exports follows its production cuts as well as those of Russia. Saudi Arabia may face difficulties maintaining price stability moving forward. Legacy: Gulf
Offshore gas rig sets up in cash-strapped Lebanon The arrival of the machinery marks a significant development for Lebanon, which hope gas exploration will revive its ailing economy. Lebanon
How significant is India's first ever use of rupees for UAE oil payment? Abu Dhabi National Oil Company (ADNOC) received the rupee payment of an undisclosed amount from Indian Oil Corp., according to an Indian Embassy statement acquired by Reuters. United Arab Emirates
Analysis Russia’s oil sales to China hurt Saudi revenue despite increased demand Despite oil prices maintaining a seven-week rally and crude demand expected to reach record highs in 2023, the burden of maintaining higher oil prices is pushing Saudi Arabia to the limit. By Salim A. Essaid
UAE's ADNOC to expand gas processing with $3.6 billion contract ADNOC Gas announced it would award the contract to a joint venture between ADQ state-fund-owned National Petroleum Construction Company and Spain’s Tecnicas Reunidas. United Arab Emirates
Iran says daily oil output to hit 3.5M barrels in September Iran's oil output will reach 3.5 million barrels per day by Sep. 22, the state-run news agency reports. Iran
