#oil
40 articles with this tag
PoliticsIraqi PM Launches Probe into Oil Smuggling Operations Linked to Iran-Backed Militia
Iraqi Prime Minister Ali Al Zaidi has ordered an investigation into the reported smuggling of petroleum products from pipelines in Jurf Al Sakhar, an area controlled by the Iran-backed Kataib Hezbollah militia. The probe comes amid rising tensions between the government and armed factions seeking to assert state authority.
EconomyAfrica's Richest Man Unveils Massive Oil Tank Farm in Namibia
Africa's richest man has inaugurated a large-scale oil tank farm in Namibia, marking a substantial addition to the country's energy facilities.
EconomyEgypt and UAE Forge Deeper Ties: Joint Investments to Soar in Oil and Gas Sector
Egypt and the UAE are set to expand joint investments in the oil and gas sector, discussing enhanced cooperation in exploration, development, and drilling operations during ADIPEC 2026. Key Egyptian and Emirati companies are expected to play significant roles in upcoming projects.
EconomyOil Surges Past $110 as Houthi Drone Strike Near Saudi Shaybah Field Sparks Market Jitters
Oil prices surged past $110 a barrel following a Houthi drone attack near Saudi Aramco's Shaybah oilfield, raising concerns about supply disruptions. The attack, which caused casualties, occurred shortly before another strike on Dammam airport, escalating regional tensions.
EconomyEgypt Accelerates Oil and Gas Investment Push to Boost Production and Regional Hub Status
Egypt is actively working to accelerate oil and gas investments and boost production by fostering stronger partnerships with international companies and enhancing regional cooperation. The discussions aim to solidify Egypt's position as a key energy trading hub in the Eastern Mediterranean.
EconomyGulf Oil Giants Reroute Shipments to India Amidst Hormuz Congestion and Attacks
Gulf oil producers are rerouting shipments to India for ship-to-ship transfers and offering deep discounts to maintain exports to Asia, as congestion and attacks disrupt traditional routes around the Strait of Hormuz. This shift highlights the strain on existing export workarounds and the growing importance of secure infrastructure.
PoliticsIran Escalates Hormuz Surveillance Amid Soaring Attacks and Plummeting Oil Flows
Iran has intensified its surveillance and attack operations in the Strait of Hormuz, leading to a significant drop in oil transit. This escalation occurs amid ongoing tensions with the US and impacts global energy flows.
MiscellaneousTrump Announces Imminent 'Massive' Oil and Gas Exploitation in Greenland
President Donald Trump announced that "massive oil, gas and mineral exploitation is getting ready to begin" in Greenland, citing expert opinions on the vast oil reserves. This comes after previous tensions regarding U.S. interest in the island's resources and a recent agreement acknowledging Danish sovereignty.
Breaking NewsHouthi Missile Strike Ignites Fire at Saudi Aramco's Historic Oil Hub
A missile attack by Yemeni Houthi rebels struck an administrative building at Saudi Aramco's historic oil industry nerve center in Dhahran, Saudi Arabia, causing a fire but no casualties. The incident highlights ongoing security concerns for the kingdom's vital energy infrastructure.
EconomyIran Grapples with Billions in Missing Oil Revenue Amidst Sanctions
Iran is facing a significant financial shortfall as billions of dollars in oil revenue, owed by a network of intermediaries known as 'trustees,' have reportedly gone missing. This crisis is exacerbated by US sanctions, which complicate the recovery of these funds and have led to accusations of corruption.
PoliticsIran Targets US-UAE Oil Shuttle in Strait of Hormuz Amidst Escalating Conflict
Iran has declared its intention to target a US-assisted oil shuttle system operating through the Strait of Hormuz, escalating tensions amidst the US-Israel war. The system, designed to circumvent Iranian blockades, is now explicitly in Tehran's crosshairs, with Iran citing its control over the strategic waterway.
EconomyVisualizing the Global Energy Crisis: How the Iran War Upended Oil and Gas Supplies
A visual explainer from Al Jazeera details how the US-Israel war on Iran has severely disrupted global energy supplies, shipping chokepoints, and emergency petroleum reserves.
EconomyNavigating the Global Energy Crisis: Is Libya's Strategic Boom a Trap or an Opportunity?
As the global energy crisis boosts demand for alternative supplies, Libya faces a critical choice between capitalizing on its vast oil and gas reserves or falling deeper into domestic energy insecurity and the resource curse.
EconomyUS and China Rivalry: Five Charts Reveal the Battle for Leverage in Trade, Oil, and Rare Earths
Analyzing five key charts, this article explores how the economic and military rivalry between the US and China is shaped by trade dynamics, oil supplies, rare earths, and defense spending.
EconomyGlobal Oil Prices Drop Below $100 Amid Hopes of Strait of Hormuz Reopening and Saudi Pipeline Restart
Oil prices dropped below $100 a barrel as expectations grew for the reopening of the Strait of Hormuz and the restart of Saudi Arabia's East-West pipeline.
EconomyUS Diesel Prices Hit Record $6.31 a Gallon as Global Supply Pressures Mount
US diesel prices have reached a record high of $6.31 per gallon, driven by global supply disruptions and geopolitical conflicts, threatening broader economic and consumer price pressures.
EconomyGlobal Inflation Surges Again as Oil Prices Breach $100 Amid Middle East Supply Disruptions
Global inflation is resurfacing as oil prices surpass $100 a barrel due to ongoing disruptions in the Strait of Hormuz and threats to Saudi oil supplies, forcing central banks to rethink traditional policies.
EconomyEast-West Pipeline Blast Forces Saudi Arabia to Halt Oil Supplies to Europe
Saudi Arabia has halted oil supplies to Europe following a blast on the East-West pipeline. The incident has disrupted energy transport as detailed in the accompanying video coverage.
EconomySaudi Arabia Confronts Critical Security Choices as Houthi Escalation Threatens Global Oil Supplies
Saudi Arabia faces mounting security and economic threats as Houthi rebels capture key Red Sea positions and vital oil routes, testing regional alliances and relations with Washington.
EconomyGlobal Oil Prices Surge Near $108 Following Saudi Pipeline Shutdown After Attacks
Oil prices surged near $108 a barrel after Saudi Arabia halted its vital East-West oil pipeline following attacks, heightening global supply concerns.
EconomySaudi Arabia Shuts Down Critical Oil Pipeline Following Drone Attack Amid Widening Iran Conflict
Saudi Arabia has shut down a vital oil pipeline following a drone attack originating from Iraq, compounding energy supply concerns as the Iran conflict widens.
EconomyStrait of Hormuz Disconnect: Why US Claims on Oil Shipping Differ From Real-World Data
A stark discrepancy exists between US claims of record-high shipping traffic through the Strait of Hormuz and marine tracking data showing significantly fewer vessels transiting the waterway.
EconomyWhy China's Support for Iran Has Clear Limits Amid US Pressure
Despite diplomatic and economic ties, analysts explain why China's support for Iran has strict limits as Washington ramps up pressure on Tehran.
EconomyAnalyst Warnings: Why New Pipelines Won't Make the Strait of Hormuz Obsolete
Analysts warn that despite multi-billion-dollar pipeline projects by Gulf nations, the Strait of Hormuz will remain a critical global trade route for energy and shipping.