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 continues to reap big profits The Saudi oil giant has been investing in futuristic technology as it benefits from high oil prices. Legacy: Gulf
UAE warns against underinvestment in oil, gas at Abu Dhabi conference The Abu Dhabi International Petroleum Exhibition and Conference also features more focus on decarbonization and hydrogen. Legacy: Gulf
Saudi Arabia criticizes Biden over oil reserve release The US president recently announced that he would sell some emergency oil reserves in response to the Saudi-backed oil supply cut. Legacy: Gulf
Israel moves to reduce industrial greenhouse gas emissions Ahead of the COP27 climate summit in Egypt next month, the Israeli government is focused on reducing greenhouse emissions within the industrial sector. Israel
How OPEC+ production cut will impact Egypt Experts say the OPEC+ decision to cut oil production won't hit Egypt as hard as some other countries. Egypt
Biden announces release of oil reserves following Saudi-backed oil cut One analyst said the move will not elicit a reaction from Saudi Arabia, which is in a dispute with the Biden administration over the recent OPEC+ oil production decision. Saudi Arabia
Fuel shortage, long queues anger Tunisians Tunisians are growing angry amid successive crises, most recently a fuel shortage, while the government sits idle. North Africa
Putin’s 'gas hub’ plan aims to bolster Erdogan's image Erdogan has accepted Putin’s offer to create a “gas hub” in northwest Turkey. But what is a gas hub? Is it workable? If realized, what impact would it have? Turkey
Saudi Arabia's defense of OPEC+ cuts draws sharp US rebuke The United States and Saudi Arabia are offering differing accounts of OPEC+'s decision to cut oil production. Saudi Arabia
Abu Dhabi announces nearly $1 billion drilling contract Oil and gas remain a major part of the Emirati economy, despite recent investments in renewable energy and green technology. The contract comes as the UAE gets ready to provide gas to Germany amid the war in Ukraine. United Arab Emirates
Israeli PM acknowledges role of Biden, Macron in Lebanon maritime deal Israel's Prime Minister Yair Lapid confirmed this evening publications in France over the significant role played by French President Emmanuel Macron in reaching the maritime agreement with Lebanon. Israel
