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US sanctions official: It's time to stop Iran from funding Hezbollah

The top official of the U.S. Treasury Department said that the United States is looking to seize a "moment in Lebanon" to cut off Iranian funding for Hezbollah, and to press the group into disarming. John Hurley said in a late-Friday interview that Iran managed to send about $1 billion this year to Hezbollah despite the Western sanctions which have ravaged its economy. The U.S. is waging a campaign of "maximum pressuring" on Tehran to reduce its uranium-enrichment program and regional influence. This includes in Lebanon, where the Iran-backed Hezbollah has also been weakened since Israel destroyed its military strength...

Oil & Gas

Hezbollah's chief of staff makes overtures to Saudi Arabia in order to front against Israel

Naim Qassem, the Hezbollah leader, urged Saudi Arabia on Friday to "turn a new page" and put aside past disputes in order to create a united front against Israel. This comes after years of hostility which strained Riyadh’s ties to Lebanon. Saudi Arabia and the other Gulf States designated Shi'ite Hezbollah as a terrorist organization in 2016. Riyadh, Washington, and Hezbollah rivals in Lebanon have been pressing the Lebanese Government to disarm Hezbollah, which has been severely weakened since last year's conflict with Israel. Qassem, in a Friday televised speech, said that regional power should view Israel and not Hezbollah...

Oil & Gas

White House warns that Iran will face a 'hell-to-pay' if it develops nuclear weapons

His press secretary warned reporters Friday, ahead of Saturday's talks between U.S.-Iran delegations. White House Press Secretary Karoline Leavitt stated that Trump's "ultimate goal is to ensure that Iran cannot obtain a nuclear weapons" and that Trump believed in diplomacy. However, she added that "all options" are available if diplomatic attempts fail. "He's made it clear to the Iranians and his team of national security will do the same, that all options were on the table and Iran had a choice. The president believes that if you don't agree with President Trump's demands, there will be hell to pay. Leavitt...

Oil & Gas

Saudi foreign minister states Trump does not raise risk of Iran-Israel war

Saudi Arabia's. foreign minister stated on Tuesday he did not see Donald Trump's. new administration increasing the danger of an IsraelIran. dispute, attending to a problem the area has actually feared since the. start of Israel's war in Gaza. Prince Faisal bin Farhan Al Saud also stated in Davos that he. hoped President Trump's method to Iran would be consulted with a. willingness by Tehran to favorably engage with the U.S. administration and address the problem of its nuclear programme. Certainly a war in between Iran and Israel, any war in our. area is something we ought to try to...

Oil & Gas

UN Resolution 1701, cornerstone of any Israel-Hezbollah truce

A United Nations resolution that ended the last round of lethal dispute in between Hezbollah and Israel in 2006 is viewed as the cornerstone of a brand-new ceasefire being worked out by the United States. Adopted in August 2006, the 19-paragraph resolution was key to ending the month-long war between Israel and Hezbollah in 2006 and leading the way for long-lasting stability along the border. The resolution mandated an instant cessation of hostilities, with both celebrations consenting to stop battling. While important, the ceasefire dealt with challenges and violations throughout the years, but it laid the structure for ending open...

Oil & Gas

Stop Israel from bombing Iran's oil sites, Gulf states desire US

Gulf states are lobbying Washington to stop Israel from attacking Iran's oil sites since they are concerned their own oil facilities could come under fire from Tehran's proxies if the conflict intensifies, 3 Gulf sources informed Reuters. As part of their efforts to prevent being caught in the crossfire, Gulf states including Saudi Arabia, the United Arab Emirates and Qatar are likewise declining to let Israel fly over their airspace for any attack on Iran and have actually conveyed this to Washington, the 3 sources close to government circles stated. Israel has guaranteed Iran will pay for its missile attack...

Oil & Gas

Iran leader Khamenei, rifle at his side, vows resistance versus Israel

With a rifle by his side, Supreme Leader Ayatollah Ali Khamenei appeared in public on Friday for the very first time since Iran's most current rocket attack on Israel, describing the strike as genuine punishment for what he called Israeli crimes. Providing his very first Friday prayers preaching in almost 5 years, Khamenei said resistance versus Israel in the region would not pull back even with the killing of its leaders. Every so often his hand grasped the barrel of a rifle that stood to his left. Khamenei periodically speaks in public with a rifle at his side, a practice...

Oil & Gas

Iran's president knocks Israeli attacks on Tehran's local allies

Israel ought to not be allowed to attack countries in the Iranaligned Axis of Resistance one after the other, Iranian President Masoud Pezeshkian said on Sunday. Israel stated it had bombed Houthi targets in Yemen on Sunday, broadening its confrontation with Iran's allies in the area after killing the Hezbollah leader Sayyed Hassan Nasrallah on Friday in an intensifying dispute in Lebanon Pezeshkian, in remarks carried by state media, stated Lebanon. need to be supported. Lebanese fighters need to not be left alone in this fight so that the Zionist routine (Israel) does not assault Axis of Resistance nations one...

Oil & Gas

Lebanon would have a hard time to cover 'fraction' of help needs in war with Israel, minister says

Lebanon would struggle to satisfy even a portion of its help needs if fullscale war with Israel emerges, a senior official said, as it seeks increased donor support in the middle of relentless border clashes. Nasser Yassin, the minister managing contingency preparation for a broader conflict, told Reuters Lebanon would require $100. million month-to-month for food, shelter, healthcare and other needs in. a worst-case scenario. A little fraction, even 10 to 15 percent of that, would be. substantial for the government. We will need donors to step up, Yassin. stated. International help is already falling short. Lebanon has. gotten only...

Oil & Gas

Poland probing alleged links between Orlen unit's ex-CEO and 'terrorist organisations'

Poland has actually launched an investigation into multi-million-dollar cash losses by Polish refiner Orlen's Swiss unit and claims that its former CEO had ties to terrorist. organisations, Warsaw chief prosecutor Malgorzata Adamajtys. said on Tuesday. Polish site Onet had actually reported on Monday that the. former CEO of Orlen Trading Switzerland, described just as. Samer A. due to local personal privacy laws, was believed by Orlen's. internal security system of having had contacts with Lebanon's. powerful Iran-backed Hezbollah militant group. Samer A., the ex-CEO of Orlen's Swiss subsidiary OTS,. rejected in an interview with Polish private radio RMF on Tuesday....

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MIDEAST - Factors to watch - May 14

Here are some factors that might affect Middle East stock exchange on Tuesday. has not validated the press reports and does not guarantee their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Asia shares hit 15-month high as traders wait for CPI * Oil constant as investors eye US inflation, OPEC report * PRECIOUS-Gold rates edge greater as essential United States inflation information looms * MIDEAST STOCKS-Gulf markets end mixed ahead of United States inflation data * Israeli forces press Gaza offensive from north and south * Erdogan defends Hamas, says members are being dealt with in Turkish hospitals * White House sees no...

Fossil Fuels

Fossil Fuels

Turkey expects Syrian Kurdish Militia to fulfill Damascus Deal

Hakan Fidan, Turkey's Foreign Minister, said that the YPG Syrian Kurdish militia must fulfill a deal it made with the Syrian Government. The group is expected to be integrated into Syria’s armed forces. The YPG is seen by Turkey as an affiliate group of the Kurdistan Workers Party, a militant group that has fought against the Turkish state since the 1970s and announced Monday its decision to disarm. We see that the YPG has not taken any action so far. Fidan said at a press briefing during an informal NATO meeting of foreign ministers in Antalya, southern Turkey. He added...

Oil & Gas Exploration

The President of Lebanon says that he hopes TotalEnergies resumes oil and gas exploration as soon as possible

According to a press release from the president's offices, Lebanon President Joseph Aoun told Qatari Premier Sheikh Mohammed Bin Abdulrahman Al Thani on Tuesday that he hoped TotalEnergies would soon resume oil exploration off the coasts of Lebanon. In 2023, the state-owned QatarEnergy will join France's TotalEnergies (ENI.MI), and Italy's Eni in a consortium of three to search for oil and natural gas in two marine blocks off Lebanon's coast. Two sources who were directly involved in the matter said that no hydrocarbons had been found after the exploratory drilling offshore in 2023. TotalEnergies didn't respond to a comment request...

Fossil Fuels

Hamas authorities states group 'appreciates' Lebanon's right to reach contract

Hamas main Sami Abu Zuhri stated on Wednesday the group appreciates Lebanon's right to reach an agreement that safeguards its individuals, and it hopes for a. deal to end the war in Gaza. A ceasefire in between Israel and the Lebanese Hezbollah. movement entered into effect on Wednesday after both sides accepted. an arrangement brokered by the United States and France, an uncommon. triumph for diplomacy in an area traumatised by 2 wars for. over a year. Hamas values the right of Lebanon and Hezbollah to. reach an agreement that safeguards the people of Lebanon and we. hope that this...