Iraq is studying the construction of a strategic oil pipeline linking its southern oil fields with Türkiye and Syria as part of a long-term plan to diversify crude export routes and reduce reliance on the Strait of Hormuz. The proposed project aims to strengthen Iraq’s energy security while creating alternative routes for exporting oil to […]
oil exports
US sanctions leave millions of Iranian oil barrels stranded at sea
Millions of barrels of Iranian crude oil have become stranded at sea after the United States (US) ended a sanctions waiver that had temporarily allowed Tehran to export oil under limited conditions. The move has significantly increased pressure on Iran’s energy sector and raised concerns about global oil supply and regional stability. Read More: Trump […]
Saudi Aramco boosts Ras Tanura oil exports to Asia
Saudi Aramco has significantly increased crude oil exports from Ras Tanura, the world’s largest oil export terminal, after resuming operations following a nearly four-month suspension. At least five supertankers carrying a combined 10 million barrels of Saudi crude have already passed through the Strait of Hormuz, signalling a major rise in shipments to Asian markets. […]
UAE oil exports near highest level since 2017
The United Arab Emirates’ (UAE) oil exports have climbed to their highest level since 2017, with daily shipments exceeding 3.9 million barrels in June, according to Emirati media reports. The increase marks a significant recovery in the country’s energy exports, with officials reporting that oil shipments have returned to levels seen before recent regional conflict […]
Oil spill reported near Iran’s Kharg Island
An oil spill has been reported near Iran’s Kharg Island, raising environmental and maritime concerns around one of the country’s most important oil export hubs. According to a report based on satellite imagery published by the New York Times, oil has been observed spreading from the coastal waters surrounding Kharg Island. The exact cause of […]
UK authorises military to board Russian oil ships amid sanctions crackdown
LONDON — British Prime Minister Keir Starmer announced on Wednesday that the UK military has been authorised to board and detain Russian ships believed to be part of Moscow’s so-called “shadow fleet” of oil tankers. These vessels are alleged to help Russia circumvent Western sanctions while funding its ongoing war in Ukraine. Read More: Ukrainian […]
Venezuela resumes oil shipments to Israel after years
Venezuela has sent its first crude oil shipment to Israel in several years, marking a notable shift in the South American nation’s oil export patterns following recent political upheaval, multiple reports cited Bloomberg on Tuesday. The delivery to Israel’s Bazan Group, the country’s largest crude processor, would be the first since mid‑2020, according to energy […]
Trump says Venezuela will supply up to 50m barrels of oil to US
US President Donald Trump said on Tuesday that Venezuela interim government has agreed to deliver between 30 and 50 million barrels of oil to the United States. He said the proceeds from the sale of the oil would be overseen by him as president. In a social media post, Trump said the oil would be […]
US hits Iran with new oil and shipping sanctions
Washington: The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed new sanctions on Iranian companies and shipping brokers supporting the country’s armed forces through oil sales. The move aims to curb funding for Iran’s nuclear weapons program and its support for terrorist groups. Treasury Secretary Scott Bessent said the sanctions are part of […]
Russia launches massive drone strikes on Kyiv, Ukraine retaliates
KYIV: Russia carried out one of the largest drone and missile attacks on Kyiv on Friday, killing six people in the capital and two more in southern Ukraine. The strikes targeted energy facilities, apartment buildings, and infrastructure, leaving debris and fires across nine districts of the city. Read More: Zelensky imposes sanctions amid Kyiv corruption sandal A […]