Middle East

Azerbaijan's State Oil Company redirects supplies of jet fuel from STAR refinery to Turkish domestic market

SOCAR Turkiye Enerji (the Turkish subsidiary of the State Oil Company of the Azerbaijani Republic, SOCAR) has been fully directing the jet fuel produced at the STAR refinery to the Turkish domestic market in recent months amid the global energy crisis and tensions around the Strait of Hormuz.

Hungry to sell, UAE slips hidden oil tankers through Strait of Hormuz

The volumes are a fraction of the UAE's typical exports before the U.S.-Israeli war on Iran but they demonstrate the risks the producer and buyers are willing to take to free up oil sales.

TA’ZIZ announces $2 B in financing for UAE’s first world-scale methanol plant

Equinor: Iran war lifts Asia-Pacific interest for Norwegian petroleum products, LNG

The conflict has effectively closed the Strait of Hormuz, a choke point for energy exports from producers in the Gulf, especially affecting clients in Asia.

TA'ZIZ secures $28.5 B in agreements to expand UAE's chemicals infrastructure

China's Commerce Ministry blocks U.S. sanctions against five refineries

ADNOC launches Industrial Resilience Program at "Make it in the Emirates" to boost UAE industrial capacity and strengthen supply chains

Iraq starts work on Basra-Haditha oil pipeline

About $1.5 B has been allocated for the project, although its pace will depend on securing further budget allocations.

UAE exit strips OPEC of clout, risks bitter price war

The surprise move comes at a time of unprecedented turmoil in energy markets as Gulf oil and gas exports have remained largely paralyzed for two months due to the closure of the Strait of Hormuz, which has muted OPEC’s traditional ability to manage the oil market during times of distress.

Europe's jet fuel imports from Middle East stop, raising supply crunch fears

European countries that are part of the Organization for Economic Co-operation and Development grouping of industrialized nations consume about 1.6 MMbpd of jet fuel and kerosene, while regional refineries produce only around 1.1 MMbpd, leaving a shortfall of at least 500,000 bpd that imports must cover.