Turkey has rejected Iraq’s request to extend the existing agreement governing the Kirkuk-Ceyhan oil pipeline, signaling its preference to negotiate a new framework before the current accord expires on July 27.
Exxon Mobil has entered into a preliminary agreement to supply liquefied natural gas (LNG) to South Africa’s Zululand Energy Terminal (ZET), which is set to become the country’s first LNG import facility once constructed.
Abu Dhabi National Oil Company (ADNOC) has sold more than 30 million barrels (mmbbl) of spot crude oil to Asian refiners and trading firms this month, according to market sources, as buyers moved to secure supplies following the announcement of a US-Iran ceasefire agreement.
Shipowners are expected to delay resuming transit through the Strait of Hormuz for several weeks until they are assured that the recently announced US -Iran agreement is effectively implemented on the ground, according to the CEO of Japan’s Mitsui O.S.K. Lines, Jotaro Tamura talks to the Financial Times, Reuters reported.
Iraq has formally requested Türkiye to extend the existing Kirkuk-Ceyhan oil pipeline agreement for at least one year, as both sides continue negotiations on a new long-term accord, according to Ali Nizar, head of the State Organization for Marketing of Oil (SOMO).
The European Union (EU) launched the Trans-Mediterranean Renewable Energy and Clean Tech Cooperation (T-MED) flagship initiative on June 9, aiming to mobilize up to €25 billion in total investment allocations by 2035, noted a press release by the EU.
Oil markets continue to reassess the impact of the conflict with Iran following Tehran's declaration that the Strait of Hormuz was "closed," even as evidence suggests Gulf crude oil exports have sustained momentum despite disruptions, Reuters reported.
Italian energy services company Saipem has been awarded a new onshore contract for the Uthmaniyah Gas Compression Plant project in Saudi Arabia, with Saipem’s share of the contract valued at about €900 million, noted a press release by Saipem.
The US is considering releasing part of its strategic energy reserves and increasing exports of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) to the Association of Southeast Asian Nations (ASEAN) as part of efforts to strengthen regional energy security, Reuters reported, citing US Deputy Secretary of State Christopher Landau.
Kuwait Petroleum Corp (KPC) has offered prompt-loading fuel products on the spot market for the first time since the outbreak of the Iran war, four sources familiar with the matter revealed, according to Reuters.
Separately, KPC was offering 4 million barrels of crude through a tender, with the cargo sourced outside the Persian Gulf and directed to buyers in Asia, according to a fifth source with direct knowledge of the matter.
