Global oil prices climbed sharply as escalating tensions in the Middle East and disruptions to shipping through the Strait of Hormuz heightened fears of supply shortages, pushing crude benchmarks to their highest ...
Iran has been sending radio signals to ships stating that no vessel is allowed to pass through the Strait of Hormuz, according to Reuters. Ships navigating near the waterway have received very high frequency (VHF) ...
The International Energy Agency (IEA) stated in a report that any disruption to transit flows in the Strait of Hormuz (SoH) would have significant consequences for global oil and LNG markets. The report, issued in ...
Brooge Energy Limited, a midstream oil storage and Service provider in the United Arab Emirates (UAE), has announced its intention to invest up to $325 million in the Nordic bond market.
Saudi Arabia plans to increase the capacity of the East-West Pipeline by 40% within two years in order to avoid exporting oil through the Strait of Hormuz.
An unspecified incident took place in the Gulf of Oman and has reportedly affected two oil tankers.
State oil giant Saudi Aramco and petrochemicals company Saudi Basic Industries Corp (SABIC) will build a new integrated industrial petrochemicals complex in the port city of Yanbu on the Red Sea coast.
An upgrade to Saudi Aramco’s Yanbu South Terminal (YST) has added 3 million barrels per day (b/d) to the export capacity of the Red Sea facility.
Abu Dhabi National Oil Company (ADNOC) is constructing a crude oil storage facility under the Fujairah mountains in the UAE.
Iran is planning to move its primary export terminal from the Arabian Gulf to the Gulf of Oman to avoid using the strategic Strait of Hormuz, President Hassan Rouhani stated in a televised speech on September 4.
