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
Saudi Aramco acquires $3.4 billion stake in a China petrochemical firm The world’s biggest oil exporter is making further inroads in China, Saudi Arabia’s top customer for crude. Saudi Arabia
Algeria, China sign 19 agreements during Tebboune's visit, including energy, technology Xi Jinping received Abdelmadjid Tebboune and his delegation at Beijing's Great Hall of the People to discuss bilateral relations. Algeria
Analysis On Gulf tour, Japan's PM secures energy ties as China’s influence grows Prime Minister Fumio Kishida’s three-day trip that began Sunday to Saudi Arabia, the United Arab Emirates and Qatar — its key energy suppliers — is seen as a crucial move to secure Japan’s energy future. By Salim A. Essaid
Kuwait's new sovereign wealth fund Ciyada to boost foreign investment The Gulf country already has the Kuwait Investment Authority with assets of about $803 billion, making it the fifth-largest sovereign wealth fund globally. Legacy: Gulf
Can Iran balance dependence on China with economic openness on India? The International North-South Transport Corridor project has become a matter of urgency for Russia, India and Iran, as it would help Moscow and Tehran develop new markets and evade sanctions. Iran
Republican lawmakers urge sanctions over Iran oil sales to China Senate Republicans are pushing for harsher penalties against Chinese-linked actors involved in Iran’s oil and petrochemical trade. Iran
Saudi Arabia imports record volumes of discounted Russian fuel oil in June Europe used to be the top market for Russian oil and petroleum products but all that has changed since Russia's invasion of Ukraine. Saudi Arabia
Analysis Qatar leans east to achieve 40% global LNG output by 2029 Qatar took steps last year to maintain its lead in the LNG market and increase future output with the approval of expansion projects set to raise production by 64% to 126 million tons per year by 2027. By Salim A. Essaid
OPEC oil export revenues surpass $870 billion, highest in decade The revenues from the Organization of Oil Petroleum Exporting Countries peaked in 2012, when they reached $1.2 trillion. Legacy: Gulf
Indonesia seizes Iran-flagged ship suspected of transferring oil illegally The 26-year-old tanker was seized and its crew were detained after the vessel was spotted in Indonesia’s North Natuna Sea, suspected of moving oil to Cameroon-flagged MT S Tinos without a permit on Friday. Iran
In Iraq and Algeria, TotalEnergies signs major deals The deal between Iraq and TotalEnergies has been delayed for years and aims to help Iraq fix its longstanding power issues. Iraq
US confirms Iran’s IRGC seized tanker smuggling fuel in Gulf The seizure by the Islamic Revolutionary Guard Corps came just a day the US Navy thwarted attempts by Iran's navy to seize two commercial tankers in the Gulf of Oman. Legacy: Gulf
