Dutch marine services firm Boskalis has, through its subsidiary SMIT Salvage, reached an agreement with the United Nations Development Programme (UNDP) to remove the oil from the decaying FSO Safer moored off Yemen’s Red Sea coast in a push to avoid environmental disaster. This project is a part of the UN-coordinated operation to remove and transfer more than one million barrels of oil from the decaying tanker into a safe modern tanker and the responsible disposal of the Safer…
Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil are exiting the Red Sea via the Bab el-Mandeb strait on Thursday, shipping data showed, even as a Saudi vessel came under attack in the region.The ships' attempt…
The Iranian-aligned Houthis said on Thursday they struck two Saudi oil tankers as part of a naval blockade on Saudi Arabia, threatening to create a second chokepoint on global oil supplies alongside Iran's near-closure of the Strait of Hormuz…
Oil prices rose to near six-week highs on Wednesday on mounting concerns about disruptions to key Middle Eastern supply routes because of escalating hostilities between the U.S. and Iran and threats to shipping by the Iran-backed Houthi militia in Yemen…
A number of multinational oil and gas companies including Chevron have exited their Red Sea oil and gas concession blocks after making no finds and have channeled their resources elsewhere in the country, the Egyptian petroleum ministry said…
So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according…
Disruption to shipping in the Red Sea region will impact QatarEnergy's deliveries of liquefied natural gas (LNG) but not its production, CEO Saad al-Kaabi said on Monday.'It's only going to take longer to get it there. But it will not reach…
British oil major Shell suspended all shipments through the Red Sea indefinitely after U.S. and U.K. strikes on Yemen's Houthi rebels triggered fears of further escalation, the Wall Street Journal reported, on Tuesday, citing people familiar with the decision…
Four tankers used for shipments of Qatari liquefied natural gas (LNG) have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea, LSEG shiptracking data showed on Tuesday.The Houthi attacks…
QatarEnergy, the world's second largest exporter of liquefied natural gas, has stopped sending tankers via the Red Sea although production continues, a senior source with direct knowledge of the matter told Reuters on Monday.Yemen's Iran-backed…
An oil tanker caught up in a dispute last year between the United States and Iran was boarded by armed individuals off the coast of Oman on Thursday and appeared to have changed course towards Iran, according to UK maritime sources.The Marshall…
Italy's Eni was the big winner in an Egyptian auction for oil and gas exploration rights on Tuesday, securing concessions for two of the four blocks outright, according to results from the petroleum ministry. The company also won a third block with BP and QatarEnergy in the Mediterranean Sea…
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