Middle East

Turkish ministers discuss oil exports with Iraqi Kurdistan PM

Turkey's foreign and energy ministers met the head of Iraq's semi-autonomous Kurdistan regional government for talks, including on oil exports, which Turkey has blocked from the region since March this year.

Total spending on fuel subsidies topped $7 T in 2022, IMF says

Global subsidies for fossil fuels rose by $2 T over the past two years to reach a record $7 T in 2022, according to new estimates from the International Monetary Fund.

Iranian oil cargo seized by US begins unloading after long delay

Kuwait oil minister says study shows lack of interest in Al Zour Petrochemical complex

Kuwait's oil minister said the results of a study conducted by Ernst & Young showed a lack of investor appetite for participation in the Al Zour Petrochemicals complex project.

DNO partly resumes oil production in Iraq

Norwegian oil company DNO said that last month it partly resumed production at its Tawke field in the Iraqi Kurdistan region, delivering oil to the local market at a discount as a key export pipeline remained shut.

Decarbonization group's biofuel bunkering trial finds 20% drop in emissions

The Global Center for Maritime Decarbonization found net carbon emissions fell 20% using a vegetable oil biofuel blend compared with very low sulfur fuel oil in a trial for a dual-fuel LPG carrier, the center said

Lawmakers urge Biden to resolve offloading delay of seized Iran oil tanker

U.S. lawmakers from both political parties have urged President Joe Biden and members of his administration to resolve a months-long delay in the transfer of a cargo of oil from a seized Iranian tanker off Texas.

Syria slashes gasoline subsidy, boosts public-sector salaries

Syria has raised prices of gasoline and other petroleum products again, officials and state media said, as the government gradually lifts subsidies to boost public finances in an economy strained by an over decade-old war.

UN completes removal of oil from decaying tanker off Yemen

The United Nations said it had completed the removal of more than 1 million barrels of oil from a decaying supertanker off Yemen's Red Sea coast, averting a potential environmental disaster.

IEA lowers forecast for oil demand growth in 2024

The International Energy Agency said demand growth for oil next year will be slower than previously forecast, citing lackluster macroeconomic conditions, post-pandemic recovery running out of steam and burgeoning use of electric vehicles.