The Middle East
Archive
At Cairo summit, Turkey slammed for drilling in Cyprus’ EEZ
At a trilateral summit between Egypt, Cyprus and Greece in Cairo on 8 October, the leaders of the three countries slammed Turkey's drilling in...
Archive
Meeting Erdogan at UN, Mitsotakis eyes calmer waters
The meeting between Greece's newly elected Prime Minister Kyriakos Mitsotakis and Turkey’s President Recep Tayyip Erdogan on the sidelines of the United Nations General...
Archive
Drone strikes on Saudi oil fields spike prices
Geopolitical tensions and fears of longer-than-expected supply shortfalls led to Brent crude oil prices rising more than 1% on 19 September following the drone...
Archive
Iran escalates tensions in the Persian Gulf after seizing UK tanker
In the latest escalation in the Persian Gulf region, Iran’s Islamic Revolutionary Guard reportedly captured a British-flagged oil tanker in the Strait of Hormuz...
Archive
The big question mark for OPEC and Russia confab: Extend production cuts
MOSCOW – The Organization of the Petroleum Exporting Countries and other major oil producers led by Russia plan to meet on 1-2 July in...
Archive
Cyprus, Noble Energy reach deal to expedite Aphrodite development
Cyprus’ government has reached a deal to revise the contract with US-based company Noble Energy and its joint venture partners, Israel’s Delek Group and...
Archive
Saudi-Iran spat over drone attacks fuel oil prices
Increased tensions in the Middle East have fuelled oil prices this week. On 16 May, crude oil prices increased more than 1% as a...
Africa
Greece, Cyprus, Jordan cement East Med Gas Forum relationship
ATHENS – The leaders of Greece, Cyprus and Jordan will hold a trilateral summit in Amman on 14 April to expand cooperation in the...
Analysis
New legislation energizes US policy in the Eastern Mediterranean
Important new bipartisan legislation has been introduced by two ranking US Senators to reshape and energize US strategy in the Eastern Mediterranean, taking into...
Archive
OPEC+ oil production cuts, possible US-China trade deal boost oil prices
Supply cuts led by the Organization of Petroleum Exporting Countries (OPEC), US sanctions against Iran and Venezuela and the possibility of a US-China trade...
Archive
Pompeo spearheads US efforts to bring East Med gas to EU
ATHENS – The United States is very supportive of plans to develop gas reserves in the East Mediterranean and export them to Europe, lessening...
Archive
Exxon potential gas find in East Med boosts EU pipeline hopes
Israel, Cyprus, Greece and Italy are expected to sign an intergovernmental agreement for the EU-backed EastMed pipeline project in March to transport natural gas...
Archive
Israel, Cyprus, Greece and Italy show political will for EastMed gas pipe
ATHENS - There is political will from Israel, Cyprus, Greece and Italy to proceed with the construction of the EastMed natural gas pipeline, Israel’s...
Archive
US oil production may undermine OPEC-Plus cuts
The United States becomes a net energy exporter in 2020 and remains so throughout the projection period as a result of large increases in...
Africa
East Med countries agree to create regional gas market
Eastern Mediterranean countries have agreed to create a regional gas market in an effort to transform their part of the Mediterranean into a major...
Archive
Slower global economic growth can lead to lower oil and gas prices in 2019
Oil prices are unlikely to rise significantly this year because of fears of an oil supply glut caused by over production and reduced oil...
Archive
Putin voices support for OPEC, sees no need to cut production
Russian President Vladimir Putin reportedly said on November 15 that Moscow is committed to continuing its cooperation with the Organization of Petroleum Exporting Countries...
Africa
Trump establishes US International Development Finance Corporation
President Donald J. Trump quietly approved the creation of a new foreign assistance agency on October 5, named the United States International Development Finance...
Archive
Greece, Egypt and the EU support Cyprus’ right to explore for hydrocarbons
Greek Prime Minister Alexis Tsipras, Cypriot President Nicos Anastasiades and Egyptian President met on the island of Crete on October 10, for talks aimed at...
Archive
Cyprus-Egypt pipeline deal may facilitate LNG gas exports to EU
Cyprus and Egypt have signed an agreement for the construction of an underwater pipeline to export natural gas to Egypt. Cyprus’ Energy Minister Yiorgos...
Archive
Despite EU measures, US sanctions against Iran to drive oil prices higher
Oil prices are likely to rise as traders worry that US sanctions against major oil producer Iran will lead to a tighter market towards...
Archive
Trump-Erdogan spat, Iran sanctions, Maduro’s Venezuela could spike oil prices
Growing tensions between the United States and Turkey, fresh US sanctions against Iran, and falling oil production in Venezuela have increased the possibility of...
Archive
Oil prices likely to rise as US plans to officially pull out of Iran deal
US President Donald J. Trump has said the United States will pull out of a nuclear agreement with Iran and any company dealing with...
Archive
Exxon, Total get the green light for drilling off the Greek island of Crete
ATHENS - A consortium of US oil and gas giant ExxonMobil, French energy major Total, and Greece’s Hellenic Petroleum (HELPE) has been awarded a...
Archive
Russia, Saudi push for OPEC oil supply increase while demand is strong
The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producers are seeking a compromise as Saudi Arabia and Russia are pushing the oil cartel...
Archive
Cyprus’ Minister highlights East Med role in EU energy security
LAGONISSI, Greece – Cyprus plans to forge ahead with the country’s energy plans to explore for hydrocarbons in its Exclusive Economic Zone (EEZ) and...
Archive
Putin in Austria as OMV and Gazprom extend deal, push Nord Stream-2
Amid the buzz of Russian President Vladimir Putin’s visit to the Austrian capital of Vienna, OMV and Russia’s Gazprom signed an agreement to extend...
Archive
Strange bedfellows: Iran sanctions, EU posturing and volatile oil markets
Oil prices remained near three and a half year highs on May 11 as the United States plans to reintroduce sanctions against Iran after...
Archive
Trump pulling out of Iran nuclear deal risks fuel oil prices
As the US Administration of President Donald J. Trump mulls new sanctions against Iran, world oil prices remained high on May 4.“Iran is exactly...
Archive
Israel, Cyprus, Greece to push EastMed gas pipeline to Europe at May summit
Israeli Prime Minister Benjamin Netanyahu spoke on April 4 with Greek Prime Minister Alexis Tsipras and Cyprus President Nicos Anastasiades and “among the issues...
Archive
Saudi Arabia, Russia may extend OPEC, non-OPEC oil output deal
Plans of the Organization of the Petroleum Exporting Countries (OPEC) and other supplies, especially Russia, to possibly continue curbing oil production for the rest...
Archive
Oil markets nervous after Tillerson sacked, McMaster on his way out
The firing of US Secretary of State Rex Tillerson and if President Donald Trump removes H.R. McMaster as national security adviser could impact major...
Archive
Prompted by Egypt’s Zohr find, Total-Exxon will hunt hydrocarbons off Crete
ATHENS - A French-led consortium from Total and US energy giant ExxonMobil, each with 40% stakes, as well as Hellenic Petroleum, have submitted a...
Archive
Turkish pressure throws EU East Med energy projects into limbo
DELPHI, Greece – The Turkish diplomatic and military pressure in the Aegean Sea and Eastern Mediterranean in Cyprus’ Exclusive Economic Zone (EEZ) may affect...
Archive
Gas drilling, Navtex fuel Turkey-Cyprus tensions in East Med
ATHENS – The tensions between Greece and Turkey after an incident in the eastern Aegean appear to have been defused, but the standoff between...
Archive
At Rome ‘Club Med’ summit, Greece gets a line on TAP gas to Italy
As heads of state and government of Cyprus, France, Greece, Italy, Malta, Portugal and Spain, or so-called “Club Med,’ convened in Rome on January...
Archive
Potential European market rivals, Russia’s Gazprom, Iran’s NIOC sign gas cooperation deals
Gazprom said that the Russian gas giant has signed a deal with Iran to implement integrated projects for hydrocarbon production, transmission and processing in...
Archive
Saudi Arabia, Putin’s Russia lead OPEC oil output cut extension deal through end of 2018
In an effort to boost oil prices, the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members, including Russia, reached an agreement on November...
Africa
Cyprus, Greece, Egypt strive to export East Med gas to Europe, but at what price?
ATHENS – Cyprus President Nicos Anastasiades, Egypt's President Abdel-Fattah el-Sissi and Greek Prime minister Alexis Tsipras endorsed a gas export pipeline from Cyprus to...
Archive
Iraqi-Kurdish battles send oil prices gushing, retreating
Oil prices surged from October 13 through October 18 as fighting between Iraqi and Kurdish forces intensified, threatening supplies from northern Iraq, while markets...
Archive
Cyprus, Greece eye East Med gas discoveries for EU export
ATHENS – More offshore hydrocarbon discoveries from the East Mediterranean region similar to Egypt’s giant Zohr field could boost gas exports to Europe.“At the...
Archive
Russia takes pass on Qatar conflict with Arab neighbours
MOSCOW – Russia, which has called for dialogue to tackle the political rift in the Arab world over Qatar, will not take sides in...
Archive
Turkey’s energy hub hopes hinge on market liberalisation
BELGRADE – Turkey is very well positioned to be a regional energy hub because of its geographical location and strong market but the government...
Archive
ISIL’s cross-border oil smuggling days are over
BRATISLAVA – ISIL’s ability to smuggle oil across the Iraqi border and finance its jihadist activities from oil revenue has almost stopped, a German...
Archive
OPEC, non-OPEC extend oil cut as cooperation with Russia improves
VIENNA - In an effort to reduce a global crude oil glut and boost prices, Members of the Organization of Petroleum Exporting Countries and...
Archive
US calls for relaxing Gazprom’s stranglehold on EU market
ATHENS – Several key energy projects currently underway in Greece will bring significant quantities of non-Russian gas to Greece, Italy, Bulgaria, and other regional...
Archive
Iran election not to jeopardise nuclear deal, affect oil prices
When Iranians vote to elect a new president on May 19, traders and Mideast observers will be watching, but it is unlikely that Tehran,...
Archive
Oversupply fears push oil prices to five-month lows
Fears of oversupply pushed oil prices to five-month lows on May 5 despite signals that Russia is ready to join the Organization of Petroleum...
Archive
Trump signs order on oil drilling but market is skeptical
As he approaches his first 100 days in office, US President Donald Trump signed an executive order on April 28 that could lead to...
Archive
EU-Turkey energy partnership to continue after referendum
Even though a tightly contested referendum granting Turkish President Recep Tayyip Erdogan wide new powers after a major overhaul of the country’s political system...
Must read