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
Analysis One year on, Algeria-Spain blockade shows little sign of easing Since Algeria imposed trade sanctions on Spain on June 8, 2022, both economies have lost out on billions of dollars in business. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis Venezuela's Maduro visit to Saudi Arabia is another signal to US Venezuela’s Minister of Foreign Relations Yvan Gil said Monday that cooperation projects in oil and gas, petrochemicals and infrastructure were addressed in Jeddah. By Salim A. Essaid
Blinken heads to Saudi Arabia with Israel ties on agenda Secretary of State Antony Blinken’s much-anticipated visit to the kingdom comes after years of strain over the price of oil and human rights. Saudi Arabia
Why is Venezuela's Maduro visiting Saudi Arabia? The Venezuelan president's visit to the kingdom is the first since 2015, on his way back from Turkey where he attended Recep Tayyip Erdogan's inauguration. Legacy: Gulf
Israel announces new natural gas field off its coast The official announcement on the discovery of the Katlan-Orca natural gas field off Israel's coast paves the way for hydrocarbon exploration company Energian to seek development and exploitation permits. Israel
Qatar forum warns of economic downturn, shift in cryptocurrency One Qatar Economic Forum participant says it will take at least a generation to reach a point where the world can depend on clean power. Qatar
Germany, Italy hold talks with Saudi Arabia, Qatar to strengthen energy ties Italy is looking for capital from Saudi Arabia's Public Investment Fund for a new fund Rome is setting up to help domestic companies in strategically important sectors. Saudi Arabia
Russia’s Tatneft makes new oil discovery in Libya Russia and the controversial military contractor Wagner Group have longstanding interests in Libya’s oil, but instability has hurt the ability of Russian oil companies to operate in the North African country. Libya
Iraqi FM expects continuity in ties with Turkey, no matter who wins election Fuad Hussein says TotalEnergies deal “would change character of Iraqi economy,” discusses relations with the United States, Iran, Syria and Arab states. Turkey
Iraq asks Turkey to resume oil exports as firms in Kurdistan region scale back Turkey has still yet to restart oil flows from northern Iraq following a controversial court ruling despite efforts by Iraqi and Kurdish authorities. The stoppage is threatening the Kurdistan Region’s oil sector. Turkey
Saudi Aramco profit drops 19% on lower oil prices Aramco has signed major deals with companies in China, the United States and South Korea recently, and OPEC+ recently announced a supply cut. Saudi Arabia
Israel's defense chief: Iran has enough uranium for five nuclear bombs On an official visit in Greece, Israel’s Defense Minister Yoav Gallant warns against Iran’s continued efforts to advance its nuclear program. Israel
