(WoodMac, 21.Aug.2020) — A gas discovery of the scale of the Tuna-1 find in the Black Sea, if developed, would be transformational for Turkey, given its overwhelming reliance on imports and crippling energy import bill. Turkey is chiefly reliant on piped gas from Russia, Azerbaijan and Iran but the share of liquefied natural […]
Category: Middle East
US Seizes 4 Iranian Tankers Destined For Venezuela
(US Dept. of Justice, 14.Aug.2020) — The Justice Department today announced the successful disruption of a multimillion dollar fuel shipment by the Islamic Revolutionary Guard Corps (IRGC), a designated foreign terrorist organization, that was bound for Venezuela. These actions represent the government’s largest-ever seizure of fuel shipments from Iran. On […]
US Seizes Iranian Vessels Heading For Venezuela
(Aljazeera, 14.Aug.2020) — American officials tell AP Trump administration seized cargo of four tankers transporting Iranian fuel to Venezuela. The United States seized the cargo of four tankers for transporting Iranian fuel to Venezuela as it steps up its campaign of maximum pressure against the two heavily sanctioned allies, news […]
Officials: US Seizes Iranian Oil Heading For Venezuela
(AP, 13.Aug.2020) — The Trump administration has seized the cargo of four tankers it was targeting for transporting Iranian fuel to Venezuela, U.S. officials said Thursday, as it steps up its campaign of maximum pressure against the two heavily sanctioned allies. Last month, federal prosecutors in Washington filed a civil […]
Saudi Arabia Turns Off America’s Oil Taps Again
(Bloomberg, 9.Aug.2020) — The strategy worked wonders in 2017. It will be more challenging this time around unless the pandemic eases its grip on oil demand. For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down […]
Blackstone To Raise Stake In GOM Drilling Project To 47%
(Reuters, 28.Jul.2020) — Israel’s Navitas Petroleum said on Tuesday the Blackstone Group signed a preliminary deal to raise its stake in a drilling project in the Gulf of Mexico to 47% from 16%. Navitas had partnered with U.S. oil firm LLOG and Blackstone’s portfolio company Beacon Offshore Energy in drilling […]
Global Gas Flaring At Levels Not Seen Since 2009
(World Bank, 21.Jul.2020) — Estimates from satellite data show global gas flaring increased to levels not seen in more than a decade, to 150 billion cubic meters (bcm), equivalent to the total annual gas consumption of Sub-Saharan Africa. The 3% rise, from 145 billion cubic meters (bcm) in 2018 to […]
Delek Reports Rise In Revenues In Israel, Abroad
(Delek, 30.Jun.2020) — Delek Group published its first quarter 2020 reports. — Start of production at Leviathan field leads to an increase of 88% in revenues from energy business in Israel and an almost 4-times increase in operating income; — Sharp rise in Ithaca’s revenues, which amounted to USD 348 […]
Iran Sets Out Conditions For Renewed Talks With The US
(Argus, 24.Jun.2020) — Iranian president Hassan Rohani has reiterated Iran’s willingness to resume talks with the US, but only if Washington apologises for withdrawing from the 2015 nuclear deal, returns to it and compensates Tehran for the economic damage and losses incurred as a direct result of US sanctions. US […]
Brazil To Discuss OPEC With Saudi Arabia In July
(S&P Global Platts, 24.Jan.2020) — Brazil will discuss potential cooperation with OPEC on the sidelines of a Group of 20 event scheduled to be held in Saudi Arabia later this year, the country’s Mines and Energy Ministry said in a statement this week. Mines and Energy Minister Bento Albuquerque will […]