Iranian attacks have knocked out 17% of Qatar's liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy's CEO told Reuters on Thursday. Saad al-Kaabi said two of Qatar's 14 LNG trains and one of its two gas-to-liquids (GTL) facilities were damaged in the unprecedented strikes. The repairs will sideline 12.8 million tons per year of LNG for three to five years, he said. "I never in my [Read more]
US may remove sanctions on Iranian oil stranded in tankers, Bessent says
The U.S. may soon remove sanctions from Iranian oil that is stranded on tankers to help lift global supplies and reduce prices, U.S. Treasury Secretary Scott Bessent said on Thursday. "In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent told Fox Business Network's "Mornings with Maria" program. "So, depending on how you count it, that's 10 days to two weeks of supply," he added. Bessent said the addition of sanctioned [Read more]
European countries and Japan: ready to help on Hormuz, stabilise energy markets
Leading nations in Europe said in a joint statement with Japan on Thursday they would take steps to stabilise energy markets and were ready to join "appropriate efforts" to ensure safe passage through the Strait of Hormuz. The statement from Britain, France, Germany, Italy, the Netherlands and Japan, condemned attacks by Iran and called on it to halt its actions immediately. It also said they would work with certain energy producing nations to increase output and stabilise markets. "We [Read more]
Despite Trump remarks, Israeli officials say US knew of strike on Iran gas field
Israel's attack on an Iranian gas field on Wednesday was coordinated with the United States but is not likely to be repeated, three Israeli officials said, despite President Donald Trump saying he did not know about it in advance. The attack on Iran's South Pars gas field drew an Iranian aerial assault on energy infrastructure in Qatar and across the Middle East, marking the biggest escalation in the U.S.-Israeli war on Iran. On Wednesday night, Trump said in a social media post that [Read more]
US objectives in Iran have not changed, Hegseth says
U.S. Defense Secretary Pete Hegseth said on Thursday that the United States' objectives in the war against Iran have not changed since strikes started on February 28. The United States has carried out strikes against 7,000 targets inside Iran so far, and hit more than 40 Iranian mine-laying vessels and 11 submarines, according to the Pentagon. "Our objectives, given directly from our America-first president, remain exactly what they were on day one," Hegseth told reporters. "These are [Read more]
Europe scrambles to limit effects of energy escalation in Iran war
European countries scrambled to cushion the impact of soaring oil prices on Thursday after tit-for-tat strikes on Gulf energy plants, including the world's largest gas plant in Qatar - the most economically significant escalation of the U.S.-Israeli war on Iran. State oil giant QatarEnergy reported "extensive damage" after Iranian missiles hit the Ras Laffan Industrial City, which processes about a fifth of the world's liquefied natural gas, in response to Israel's bombing of Iran's major gas [Read more]
Iran war leaves deep, costly scar on Mideast energy: Bousso
The Iran war has shattered the fragile coexistence among Gulf energy producers that long underpinned regional stability. Oil and gas marketswill now carry a higher Middle East risk premium for years — if not decades. Now in its third week, the conflict has pushed the Middle East’s vast energy infrastructure directly into the line of fire. Tehran has targeted dozens of energy installations across the region, striking at its neighbours’ - and the West’s - economic lifeline and signalling its reach [Read more]
ADNOC CEO says regional energy infrastructure, including ADNOC’s, targeted in attacks
ADNOC Group Chief Executive Sultan Al Jaber said on Thursday that critical energy infrastructure across the region, including that of ADNOC in the United Arab Emirates, has come under attack. "This is an unjustified, unprovoked and illegal attack on a peaceful nation," Al Jaber said in a LinkedIn post. "But it is not just a regional issue - it is global economic warfare. Energy flows are being weaponised." (Reporting by Yousef Saba; Writing by Tala Ramadan; Editing by Alison Williams) [Read more]
Oil majors’ output in the Middle East
Most oil and gas majors operate in the Middle East, where the U.S.-Israeli war on Iran has disrupted shipping and output. Shell’s Pearl plant and Saudi Arabia’s SAMREF refinery were reported damaged, while TotalEnergies said 15% of production is offline. Here are some details on the majors' production in the region, in alphabetical order: * BP BP's oil and gas output in the Middle East in 2025 was around 503,000 barrels of oil equivalent per day, or 22% of BP's overall production, [Read more]
Saudi port of Yanbu stops oil loadings, two sources say
The Saudi port of Yanbu, one of two major remaining export routes for Gulf Arab oil after Iran effectively shut the Strait of Hormuz, has stopped oil loadings, two sources told Reuters on Thursday, after the Saudi defence ministry said it intercepted a ballistic missile over the city. The ministry said earlier that a drone crashed at the SAMREF refinery, with damage assessment underway. (Reporting by Nidhi Verma and Siyi Liu. Editing by Mark Potter) [Read more]
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