Energy

Saudi Aramco has tapped KBR for a significant engineering contract to upgrade its Marjan offshore field, ensuring long-term production stability and advanced gas processing capabilities. This investment highlights the Kingdom's commitment to its energy future.

The state oil giant has cut prices for November shipments to Asia, offering its flagship Arab Light crude at a $5 per barrel discount. This move targets market share amidst high shipping costs and regional disruptions.

Baghdad's state-owned tankers have made their first shipment past the Strait of Hormuz in decades, signalling a major change in how it gets its crude to global markets.

Yemen's Houthi group claimed drone and missile strikes on a Riyadh Aramco facility, sparking fears of energy supply disruptions and pushing Brent crude prices above $106.

As Houthi attacks persist, the Kingdom is boosting its western pipeline capacity and exploring an Oman bypass to safeguard its crucial oil exports.

The coordinated move by major economies aims to ease global fuel prices and address Europe's diesel shortage. For Saudi Arabia, this could mean less revenue from its primary export.

Despite ongoing market volatility and efforts to recover supply, the major oil producers are taking a cautious stance, impacting global energy markets and regional trade.

Global oil markets are reacting to ongoing geopolitical tensions and reduced Gulf supply, pushing prices upwards. The UAE is investing in critical infrastructure to safeguard its exports.

The ongoing Iran conflict has severely impacted global oil supply through the vital Strait of Hormuz, pushing prices significantly above pre-war levels.

When the Kurdistan Region's exports first passed 100,000 barrels a day, it looked like the start of an oil boom. What followed was a long fight with Baghdad over who controls Kurdish crude and its revenue.

Stolen fuel, corruption and mismanagement have kept Iraq's electricity sector failing for two decades, despite tens of billions of dollars in spending.