Qatar

South Korea has purchased 273 million barrels of crude oil from the Middle East and Kazakhstan by the end of this year. Supplies are being routed outside of the Strait of Hormuz. Kang, who was visiting as a presidential special envoy in Kazakhstan, Oman and Saudi Arabia over the last week, said that Asia's fourth largest economy had also acquired 2.1 million tons of naphtha during the same time period. Kang stated that "in particular, the crude and naphtha obtained this time would be sourced via alternative supply routes, unrelated to the closure of the Strait?Hormuz. This will make a...

Taiwan's economy minister announced on Saturday that the energy minister of a "major country" producing liquefied gas had given Taiwan assurances about supply. He was speaking in relation to the?impact of the Iran War on Middle East energy imports. Taiwan, which is a major producer of semiconductors, relied on Qatar to supply around a third its LNG prior to the conflict. It has now said that it has secured alternative supplies from countries such as Australia and the United States for the months ahead. Kung Ming Hsin, Taiwan's Economy Minister, told reporters in Taipei that Taiwan enjoys good relations with...

Investors' sentiment was affected by the sagging of most Gulf stock markets in early Sunday trading, as concerns about a wider conflict linked to Iran weighed heavily on their minds. This came after Yemen’s Houthis launched the?first? attacks on Israel since the conflict started and the U.S. sent additional forces into the Middle East. The Washington Post reported Saturday that U.S. officials had said that the Pentagon was preparing for a possible multi-week?operation on the ground in Iran. However, it remained unclear whether President Donald Trump would authorize the deployment. The Qatari Index fell by 1.1% as Qatar National Bank,...

According to an academic analysis, the Patriot air defense system operated by the United States likely fired the missile that caused the pre-dawn blast in Bahrain which injured dozens and destroyed homes 10 days after the start of the war against Iran. Both Bahrain and Washington blamed the March 9 explosion on an Iranian drone. The Gulf kingdom reported that 32 people were injured, including some children, in the blast. U.S. Central Command stated on X on the day after the attack that an Iranian drone had struck a residential area in Bahrain. Bahrain acknowledged on Saturday, in response to...

Gulf officials said that three Gulf states were reviewing the way they invest trillions of dollars from their sovereign wealth funds to offset the losses caused by the U.S. and Israeli war against Iran. The official who spoke on condition of anonymity said that the review could include divestments, reversals of investment pledges, and a reevaluation of global sponsoring deals. This is because the oil and gas-rich states are assessing how to deal with the financial shock. The top four economies of the Gulf Cooperation Council are Saudi Arabia, Qatar and Kuwait. Three of the four largest economies in the...

Gulf officials said that three Gulf states were reviewing the way they invest trillions of dollars from their sovereign wealth funds to offset the losses caused by the U.S. and Israeli war against Iran. The official who spoke on condition of anonymity because the matter was sensitive and without naming the states, explained that these reviews could include reversing investment pledges, divesting and re-evaluating global sponsorship deals. The top four economies of the Gulf Cooperation Council are Saudi Arabia, Qatar and Kuwait. Three of the four largest economies in the GCC will be assessing current and future investments and sponsorships...

Oil prices dropped on Tuesday, after hitting a three-year high in the previous session. U.S. president Donald Trump predicted that the Middle East war could be over soon. This eased concerns about disruptions of global oil supply. Brent futures were down $4.17 or 4.2% to $94.79 per barrel at 0345 GMT. U.S. West Texas Intermediate crude (WTI), however, was down $3.81 or 4% to $90.96 per barrel. Both contracts had fallen as much as 11 % earlier, before reversing some of their losses. On Monday, oil prices soared to their highest level since mid-2022 as Saudi Arabia and others cut...

The majority of 'Gulf' stock markets were up in the early trade on Sunday. The Saudi index was up for a fifth consecutive session after the?Iranian?temporary governing council agreed to stop attacks on neighboring nations, unless they originated on their own territory. Saudi Arabia told Tehran it supports a diplomatic solution to Iran's conflict with the U.S. but that continued attacks against the kingdom and its energy sector may push Riyadh into a similar response, according to sources. Saudi Arabia's benchmark.TASI index rose 2%. All of its constituents posted?gains led by energy and material stocks. Brent oil prices surged on...

Dubai and Abu Dhabi stocks plunged on Wednesday after they reopened following a two-day suspension in response to Iran's unprecedented wave of missiles and drones?attacks against the Gulf nation. The closing of the market froze the trading of billions of dollars worth of listed assets, as investors awaited clarification on the'scale of damage caused by the weekend strikes which 'hit airports and ports in both emirates, along with residential areas. Dubai's main share index fell 4.7% on a broad basis, led by Emaar Properties, a blue-chip developer, who dropped 4.9%. Budget airliner Air Arabia also declined 5%. In Abu Dhabi...

QatarEnergy announced on Tuesday that it would halt production of aluminium due to the U.S. and Israeli attacks on Iran. Natural gas prices have soared since Monday, when the state-owned company halted production of liquefied gas following Iranian drone attacks against its Ras Laffan facility. QatarEnergy holds 51% of the shares in Qatar Aluminum Manufacturing Co, one of the shareholders in the 648,000-metric-ton per year Qatalum smelter alongside Norway's Norsk Hydro. QatarEnergy holds 51% in Qatar Aluminum ?Manufacturing Co, one of the shareholders in the 648,000-metric-ton-per-year Qatalum smelter alongside Norway's Norsk Hydro. IMPLICATIONS FOR ALUMINIUM PRODUCTION ?ARE UNCLEAR Hydro confirmed...

The majority of Gulf'stock markets fell Tuesday. Qatar's benchmark continued to fall after the country stopped liquefied natural gas production amid a escalating air war in the area, and Egypt also?fell? for a third consecutive day. Israel expanded its campaign by launching new strikes against Iran and Hezbollah. Meanwhile, Iran launched missiles and drones towards Israel, several Gulf States and a British base in Cyprus. QatarEnergy's, a state-owned company in Qatar, whose 82% clients reside in Asia, had planned to declare force majeure for its LNG shipments following Iranian drone attacks against facilities at the sprawling Ras Laffan Complex. Qatar...

The majority of Gulf stock markets fell on Tuesday. The benchmark Qatar index continued to decline after the country stopped?liquefied gas production amid an escalating air conflict in the region. Israel has 'extended' its campaign by launching new attacks on Iran and Hezbollah. Meanwhile, Iran launched missiles and drones at Israel, several Gulf States, and a British base in Cyprus. QatarEnergy's, a state-owned company in Qatar, whose 82% clients reside in Asia, had planned to declare force majeure for its LNG shipments following Iranian drone attacks against facilities at the sprawling Ras Laffan Complex. Qatar's benchmark stock index fell 0.9%,...

QatarEnergy lowered the term premium on the?al-Shaheen oil loading for February, according to several 'trade sources'. This was due to the weakness of the spot benchmark premiums. The company, which is owned by the state, set February's prices at 53 cents per barrel over Dubai's quotes. This was down from 84 cents in January. Loading of January cargoes The price reduction?followed the decline in spot premiums of Middle East crude oil so far in this month. This was weighed down by abundant supplies on the?market, and an outlook for a surplus in 2026. QatarEnergy has sold five cargoes to Glencore,...

The energy minister announced on Tuesday that Sri Lanka is expecting the Chinese state energy giant Sinopec, to begin construction on a $3.7-billion refinery in this year. They are also considering the long-standing request of the company to sell more local fuel. In an interview in his office, Energy Minister Kumara Jayakody stated that the Sinopec refinery approved in 2023 will have a capacity of processing 200,000 barrels per day. It will be located close to the Chinese-built Hambantota Port in southern Sri Lanka. He said, "The land is already allocated to them and they've done all the other facilities."...

Concerns that Europe is facing a natural gas supply crunch this winter season are overblown, with the liquefied natural gas (LNG) market currently stepping up to prevent any shortage, albeit at greater rates. European gas prices climbed to the highest level in two years last week, with the benchmark front-month agreement at the Dutch TTF center reaching 49.03 euros per megawatt hour on Nov. 22, comparable to $14.97 per million British thermal units (mmBtu). Costs have actually rallied about 40% since mid-September amidst worries that the staying Russian pipeline materials to Europe will be halted, or face additional curtailment. New...

Germany will extend its trusteeship over the regional units of Russia's Rosneft for six more months in anticipation of a sale of the possessions to Qatar, two individuals knowledgeable about matter told Reuters on Monday. The future of Rosneft's German assets, that include a. 54.17% stake in the PCK Schwedt refinery, has yet to be fixed. after Berlin efficiently took control of them following Moscow's. invasion of Ukraine. A trusteeship that puts Germany in charge of the department. while leaving ownership with Rosneft has actually currently been extended. 3 times to safeguard Schwedt's supply and to give Rosneft time. to...

There are early signs that the rise in the spot cost for liquefied gas (LNG) for shipment to Asia to a threemonth high is starting to crimp need from pricesensitive purchasers such as India. The area LNG price rose to $10.50 per million British thermal systems (mmBtu) in the week ended April 19, the most considering that Jan. 19, and up 26.5% from the low up until now in 2024 of $ 8.30, reached in early March. The recent increase in the rate has actually been driven more by supply issues, with the continuous dispute in the Middle East fuelling...

There are early indications that the increase in the area price for liquefied gas (LNG) for delivery to Asia to a threemonth high is beginning to crimp demand from pricesensitive buyers such as India. The spot LNG price increased to $10.50 per million British thermal systems (mmBtu) in the week ended April 19, the most given that Jan. 19, and up 26.5% from the low so far in 2024 of $ 8.30, reached in early March. The recent boost in the cost has been driven more by supply concerns, with the ongoing dispute in the Middle East fuelling concerns that...

Guyana plans to divulge winners of the nation's first competitive auction of offshore oil blocks by the end of March, an official with the country's. Ministry of Natural Resources said on Monday. The government continues to examine propositions and evaluate. documents provided by six of eight groups that placed bids in an. oil auction last September, Senior Petroleum Planner Bobby. Gossai Jr. told at the country's annual energy. conference. His remarks came at an energy conference designed to. highlight the nation's rise as the world's fastest-growing oil. manufacturer. Officials utilized the very first day of the conference to lay. out...

Asia's. imports of melted natural gas (LNG) increased dramatically in March as. the topbuying region benefited from lower spot costs to. draw cargoes away from Europe. A total of 24.16 million metric tons of the super-chilled. fuel landed in Asia in March, up from February's 22.73 million. and likewise up 11.5% from the 21.67 million in March 2023,. according to information assembled by commodity experts Kpler. The strength in imports came as area costs for LNG for. shipment to North Asia remained soft in February and early. March, when the bulk of freights would have been arranged. The spot cost...