- Crude Oil (WTI) 103.31 USD/bbl 0.53%
- Crude Oil (Brent) 107.44 USD/bbl -0.02%
- NYMEX Natural Gas 2.88 USD/MMBtu -0.35%
- OPEC Basket Price 114.89 USD/bbl 0.0%
ARLANXEO
Saudi Aramco Considers Arlanxeo Sale as Part of $35 Bn Asset Plan
Saudi Aramco is considering selling specialty chemicals company Arlanxeo as the Saudi energy company seeks to raise funds through an asset divestment plan worth as much as $35 billion, according to Bloomberg.
Take control
Trump Eyes Venezuela‑Style Scenario for Iran Oil
Trump said the United States could remain in Iran and retain access to its oil, while reiterating that he expects the war to end by the end of 2026.
oil supply
Saudi East-West Pipeline Closure Puts 4% of Global Oil at Risk
Saudi Arabia could face an oil export shortfall within days if its East-West pipeline remains shut following drone attacks, putting up to 4% of global supply at risk.
LNG market
ExxonMobil: US to Capture 30% of Global LNG Market by 2030
The United States (US) could account for around 30% of the global liquefied natural gas (LNG) market by 2030, as expanding natural gas production supports higher exports, according to Peter Clarke, Senior Vice President of LNG at ExxonMobil Upstream. Speaking at an energy forum in Bangkok on September 14, Clarke said the US has emerged as a major LNG supplier, supported by North America's position as one of the world's largest natural gas-producing regions.
mining sector
MRMIA Announces Bidding Deadlines for Eight Mineral Blocks
The Mineral Resources and Mining Industries Authority (MRMIA) has revealed the closing dates for bidding on a number of the available blocks including gold, Kaoline, and phosphate.
West Qurna 2 oilfield
Chevron to Provide Technical Consultancy for Iraq’s West Qurna-2 Field
Iraq’s Ministry of Oil has signed an agreement with Chevron to provide technical consultancy to the Basra Oil Company during negotiations over the development of the West Qurna-2 oilfield.
Strait of Hormuz
Iran to Announce Temporary Strait of Hormuz Shipping Lane Agreement
Iran plans to present Gulf nations with an agreement reached with Oman on a temporary shipping lane through the Strait of Hormuz on Monday, as Tehran and regional states seek to ease shipping disruptions, Bloomberg reports.
Drone attacks
Saudi East-West Pipeline Attack Exposes Oil Supply Vulnerabilities
The global oil market faces fresh uncertainty after the temporary shutdown of Saudi Arabia’s East‑West pipeline (Petroline) on September 10, following a series of drone strikes. The disruption has raised concerns over the kingdom’s crude exports and the outlook for international oil prices. Petroline’s role has grown since the outbreak of the US‑Iran conflict, with Riyadh diverting more than 70% of daily crude shipments to Yanbu to avoid Hormuz shipping risks. Stretching 1,200 kilometres from eastern oil fields to the Red Sea port, the line has recently carried 4–5 million barrels per day -equal to about 4-5% of global supply, according to Reuters. “ "Suspending flows through the East‑West pipeline will inevitably affect world oil prices, particularly given the unresolved crisis in the Strait of Hormuz,” said Salah Hafez, former vice‑chairman of the Egyptian General Petroleum Corporation (EGPC).
