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OIL RISES AS UKRAINE WAR STOKES SUPPLY WORRIES, MARKET EYES PROSPECTS OF FED EASING.
Oil prices climbed on Tuesday, buoyed by escalating tensions in the Russia–Ukraine war that threaten to choke global supply chains, while investors weighed the possibility of fresh monetary easing in the United States. Brent crude hovered near $69 a barrel and WTI above $65, extending last week’s gains as markets absorbed news of Ukrainian drone strikes that shut down major Russian refining facilities, disrupting as much as 17% of Moscow’s processing capacity. At the same time, anticipation of U.S. labor data later this week has heightened expectations that the Federal Reserve could move toward interest-rate cuts in September, raising hopes for stronger demand. With supply shocks colliding with shifting economic signals, oil markets are navigating a highly volatile landscape where short-term price gains may mask deeper risks of oversupply and fragile demand growth.
- 9 months
EAST AFRICA PIPELINE MOVES CLOSER TO COMPLETION.
The East Africa Crude Oil Pipeline (EACOP) is now 64.5% complete and will soon become the world’s longest heated oil pipeline, transporting crude from Uganda through Tanzania to international markets. TotalEnergies and its partners plan to start exports at 216,000 barrels per day, later increasing to 246,000 barrels per day.
- 9 months
CHINA SEEKS MORE RUSSIAN GAS VIA EXISTING PIPELINE AS NEW PROJECT STALLS.
China is exploring the possibility of ramping up natural gas imports from Russia through the existing Power of Siberia 1 pipeline, even as negotiations stall over the multibillion-dollar Power of Siberia 2 project. With energy cooperation high on the agenda ahead of Vladimir Putin’s upcoming meeting with Xi Jinping, the move underscores how Moscow is seeking to offset the collapse of European markets, while Beijing balances its growing domestic production and renewable energy expansion against geopolitical risks. The talks highlight the shifting dynamics of global energy flows as Russia turns further toward Asia amid Western sanctions.
- 9 months
IRAQ REPORTS PROGRESS IN BORDER OILFIELD DISPUTE WITH KUWAIT.
Iraq and Kuwait have made significant progress in their long-standing negotiations over the shared production of border oilfields, according to Iraqi Oil Minister Hayan Abdul Ghani.
- 9 months
SHARES IN OMAN’S OQEP RECOVER AFTER POOR DEBUT
Shares in Oman’s OQ Exploration and Production (OQEP) rebounded on Tuesday following a sharp slump during their debut on the Muscat Stock Exchange a day earlier.
- 9 months
QATAR’S AL MANSOUR TO INVEST $20BN IN MOZAMBIQUE.
Qatari investment firm Al Mansour Holding has signed a $20 billion partnership agreement with Mozambique to support sectors the government is prioritising including energy and agriculture, President Daniel Chapo’s office said.
- 9 months
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