Oil Archives - OZ Arab Media

Oil tanker attacked by Huthis in Red Sea appears to be leaking oil, Pentagon says

CNN — The Greek-flagged crude oil tanker Sounion that was recently attacked by Yemen’s Huthis is still on fire in the Red Sea and now appears to be leaking oil, a Pentagon spokesman said on Tuesday. The Sounion was targeted last week by multiple projectiles off Yemen’s port city of Hodeidah. The Huthis, who control …

The post Oil tanker attacked by Huthis in Red Sea appears to be leaking oil, Pentagon says appeared first on Egypt Independent.

Egypt Independent August 28, 2024

Saudi Arabia’s oil exports plunge as it surrenders market share to Russia, UAE

Saudi Arabia’s oil exports plunge as it surrenders market share to Russia, UAE Saudi Arabia’s decision to restrict oil production

Middle East Eye July 7, 2024

Oil-rich Abu Dhabi wants to be an AI leader. Aligning with the US is just the start

CNN — The world’s first minister dedicated to developing artificial intelligence (AI) strategy is already becoming embroiled in a global power struggle for tech supremacy. In April, Microsoft (MSFT) announced a $1.5 billion investment in G42, an AI group based in Abu Dhabi, capital of the United Arab Emirates (UAE), and chaired by an influential …

The post Oil-rich Abu Dhabi wants to be an AI leader. Aligning with the US is just the start appeared first on Egypt Independent.

Egypt Independent June 26, 2024

India’s strategic moves in Chabahar and oil deals with Russia

On May 13, 2024, India solidified its international trade ambitions by signing a landmark agreement with Iran to develop and

Weekly Blitz June 1, 2024

Nigeria’s oil-rich Rivers State makes moves to become investor magnet

CNN — Nigeria’s oil-rich Rivers State has a unique opportunity to emerge as a beacon of progress, replacing hopelessness with hope, according to former Apex Bank governor Sanusi Lamido Sanusi. At the same time, Rivers State Governor Siminalayi Fubara has highlighted the state’s efforts to create a more vibrant, investment-friendly environment, aiming to reassure investors …

The post Nigeria’s oil-rich Rivers State makes moves to become investor magnet appeared first on Egypt Independent.

Egypt Independent May 25, 2024

Sinking ship hit by Huthi missile leaves 18-mile oil slick in Red Sea, US officials say

CNN — A cargo ship that was struck by a Huthi ballistic missile on Monday has created an 18-mile long oil slick in the Red Sea as it continues to take on water, two US officials said Friday. The M/V Rubymar — a Belize-flagged, UK-registered, Lebanese-owned vessel — was carrying 41,000 tons of fertilizer when it was struck on …

The post Sinking ship hit by Huthi missile leaves 18-mile oil slick in Red Sea, US officials say appeared first on Egypt Independent.

Egypt Independent February 26, 2024

Bangladesh’s ministry of Energy requests US$1.6 billion reserve allocation for oil and gas imports

A special fund of US$2.1 billion is being established for the import of fuel materials. The Ministry of Energy is

Weekly Blitz February 13, 2024

Russian-Iraqi Oil Ties “Only Getting Stronger”

By John Lee. More than 100 representatives of leading Iraqi and Russian businesses took part in the Russian-Iraqi Business Forum in Moscow last week. According to a press release from The Chamber of Commerce and Industry of the Russian Federation, the Ambassador of Iraq in Moscow, Mr. Abdurakhman Al-Husseini, told delegates that Iraq is open […]

The post Russian-Iraqi Oil Ties “Only Getting Stronger” first appeared on Iraq Business News.

Iraqinews October 25, 2022

SOMO warns Int’l Companies not to buy Oil from KRG

By John Lee. Iraq’s State Oil Marketing Organization (SOMO) has announced that it had taken “marketing measures” and informed all international companies not to buy crude oil from the Kurdistan Region of Iraq (KRI). SOMO Director, Alaa Al-Yasiri, also told the state-run Iraqi News Agency (INA): “The Federal Court issued a decision stipulating the invalidity […]

The post SOMO warns Int’l Companies not to buy Oil from KRG first appeared on Iraq Business News.

Iraqinews September 24, 2022

Kurdistan Oil Output “Could Halve without Investment”

By John Lee. According to a report from Reuters, oil production in Iraqi Kurdistan could almost halve by 2027 if there is no new exploration or major investment in the sector. Click here to read the full report. (Source: Reuters)

The post Kurdistan Oil Output “Could Halve without Investment” first appeared on Iraq Business News.

Iraqinews September 5, 2022

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