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
Kuwait benefits from oil price boom but long-term economic challenges loom Key reforms and a lack of a diversified economy remain only two of Kuwait's major challenges. Legacy: Gulf
Israel agrees for Qatar to drill in Lebanese maritime gas field After agreeing for TotalEnergies and Eni to go ahead with exploration drilling at the Lebanese cross-border Kana-Sidon reservoir, Israel has approved the Qatari Energy Consortium to buy the drilling rights. Israel
Egypt, US, Germany launch plan to reduce methane emissions The COP27 initiative seeks to accelerate Egypt's green energy transition. Egypt
Saudi Aramco makes $7 billion investment in South Korea during crown prince’s visit Saudi Crown Prince Mohammed bin Salman is seeking to boost energy, defense and investment cooperation with Seoul during his trip. Legacy: Gulf
US sanctions firms in China, UAE over Iranian oil sales The latest sanctions follow designations for Iranian state-run media staff and firms sending drones to Russia. Iran
Algeria forces Russia to make concessions As the war in Ukraine carries on, the list of problematic issues between Algeria and Moscow is growing. Russia
Turkey eyes risky energy partnership with Algeria Turkey’s plan for joint oil and gas exploration with Algeria raises the specter of operational and financial challenges for a country already under economic strain, experts say. Turkey
Iranian carmaker Saipa prepares first export to Venezuela Cooperation between Iran and Venezuela now goes beyond oil. Iran
Iraq expands refining capacity to reduce oil product imports Many of the refineries in Iraq are outdated and operate below capacity. Iraq
Libya derails Egypt-Turkey rapprochement Egypt-Turkey talks to normalize their relations were halted in the wake of Ankara’s recent oil deal with Libya's Tripoli-based government. Egypt
Libya differences stall Turkey-Egypt fence-mending Turkey’s moves in Libya have undermined its fledgling dialogue with Egypt, even as Ankara took a number of measures to restrict Brotherhood exiles to please Cairo. Turkey
US sanctions oil shipping network supporting Hezbollah, Quds Force The Treasury Department accused a Gulf-based group of individuals and front companies of concealing the Iranian origins of oil shipments. Iran
