Energy Industry

Iraq to proceed with oil exploration with Iran

Jan 10, 2019

Iraq's oil minister says Iraq and Iran are jointly exploring two oil fields shared between the two countries, despite U.S. efforts to isolate Iran from global oil markets

Pompeo, in Iraq, seeks to reassure Kurds on Syria withdrawal

Jan 9, 2019

Secretary of State Mike Pompeo sought to reassure U.S.-backed Kurdish forces in Syria that they will be safe after American troops withdraw from the country

Egypt introduces price index for fuel linked to oil prices

Jan 8, 2019

Egypt creates new automatic price indexation mechanism for 95-octane gasoline, as part of a reform program aiming at reviving the country's economy

Plunge in oil prices threatens Iraq's postwar recovery

Jan 1, 2019

Plunging oil prices threaten Iraq's postwar recovery and could stoke more instability

Cyprus: Empty oil tanker catches fire; 5 crew rescued

Dec 29, 2018

Cyprus authorities say five crew members of a Maltese-flagged oil tanker who jumped overboard to avoid a fire aboard the ship have been rescued and taken to hospital

Iran submits first budget since US sanctions were restored

Dec 25, 2018

Iran's president has submitted next year's budget to parliament, the first after the United States renewed sanctions targeting the oil industry

State TV: Iran's Guard launches drill near Strait of Hormuz

Dec 22, 2018

State TV is reporting that Iran's Revolutionary Guard ground force has launched a drill near the strategic Strait of Hormuz, the passageway for nearly a third of all oil traded by sea

Iraq receives 90-day extension to Iran sanctions waiver

Dec 21, 2018

The U.S. has granted Iraq a 90-day Iran sanctions waiver to allow it to continue to import electricity from Tehran

Israel, Greece, Cyprus to ink natural gas pipeline deal

Dec 20, 2018

Prime Minister Benjamin Netanyahu says that Israel, Greece and Cyprus will sign an agreement early next year to build a pipeline to carry natural gas from the eastern Mediterranean to Europe, while the U.S. has pledged support for the ambitious project

Hungary looks at Cyprus gas to diversity energy supply

Dec 14, 2018

Hungary's foreign minister says his country seeks to diversify its natural gas supply beyond Russia in order to bolster its energy security and Cyprus' offshore gas deposits could be an alternative source

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