Oil surges past $120 to war-time high as Trump rejects Iran overture Benchmark Brent crude surpassed $120 per barrel on Wednesday, reaching the highest levels yet seen during the US-Israel-Iran war. Iran
Turkey advances gas pipeline plan to northern Cyprus as East Med rivalry grows The Turkish energy minister said the country's oil and natural gas pipeline operator, BOTAS, has started the engineering work for the pipeline. Turkey
Why UAE's decision to leave OPEC is major shift for cartel The UAE accounts for 12% of OPEC's output, but tensions had been simmering over intragroup rivalries and the country wanting to export more oil. United Arab Emirates
Top Russian security officials tour Egypt, Gulf to discuss Syria, Libya Over the space of a week, top officials in the Russian security apparatus toured Saudia Arabia, the United Arab Emirates and Egypt with some intriguing proposals on Syria and Libya. Saudi Arabia
Ankara set to boost naval posture with major exercise Turkey may be planning an ambitious air-naval military drill that would span three seas. Palestine
Is new energy league an alliance against Ankara? A Cairo-based partnership among Egypt, Israel, Cyprus, Greece, Italy, Jordan and the Palestinian Authority is ready to explore energy sources in the eastern Mediterranean — whether Turkey likes it or not. Palestine
US sanctions and the dynamics of Iran’s petroleum sector While US sanctions are hitting Iran’s key energy sector hard, the industry remains set to advance, albeit at a slower pace and with a lower level of technology. Iran
Congress sees unprecedented opportunity to confront OPEC For the first time since OPEC’s formation, both the White House and Congress appear to be on the same page when it comes to suing the oil cartel for violating the US antitrust law. Saudi Arabia
Why the Rouhani administration must eliminate energy subsidies Despite pressure from lawmakers and the general public, the Rouhani administration must proceed with fuel-subsidy reform in order to relieve itself of avoidable financial burdens. Iran
Iran reintroduces fuel cards to combat smuggling The Iranian government’s reintroduction of fuel cards has the potential to increase efficiency in governance and economy. However, it is important that the government pursue a comprehensive plan to rationalize fuel consumption, subsidies and cash handouts. Iran
Putin, Erdogan boost Russia-Turkey ties with TurkStream Putin, Erdogan are all smiles in Istanbul marking the end of construction of the offshore section of the TurkStream. The megaproject seeks to boost the relations and change Eurasia's energy market. Turkey
Turkey’s oil-and-gas drilling ship sails into eastern Mediterranean Turkey announced the launch of an oil-and-gas drilling ship in the eastern Mediterranean amid tensions with several regional countries, including Egypt and Cyprus, over the energy wealth there. Egypt
Iran’s plan to sell oil on local energy exchange could boost economy Iran’s plan to develop an alternative channel to monetize its oil through a local energy exchange faces many obstacles but holds real potential of boosting domestic capacities. Iran
Iraq halts oil exports to Iran as new US sanctions begin Iraq has announced that it will stop the export of oil to Iran from Kirkuk fields to abide by the new wave of US sanction on Iran imposed Nov. 5. Iraq
