Middle East

LSEG and traders' data show that Russia will deliver 750,000 barrels (or 100,000 metric tonnes) of a mixture of Arctic heavy ARCO and gas condensate - a type light oil - to Syria's Banias Port. Russia has considered Syria a major gateway for its military and trade operations in the Middle East. Western sanctions are affecting the sale of both Russian gas and oil condensate on international markets. In October, Russian and Syrian officials met in Moscow to discuss potential energy co-operation. LSEG data show that the tanker Antarktika is an Aframax vessel capable of carrying 700,000-800,000 barrels. It has...

According to LSEG data and industry sources, the Russian company Russneft delivered a first oil shipment to the newly constructed Kulevi oil refining plant in Georgia. Since 2008, Russia and Georgia did not have formal diplomatic relations. They fought over the breakaway regions South Ossetia (backed by Moscow) and Abkhazia. Tbilisi's economic ties to Russia have grown under the Georgian Dream Party, but its relations with Western nations have deteriorated dramatically. According to LSEG, and a trader the tanker Kayseri transported 105,340 metric tonnes of Siberian Light Oil grade from the Russian Black Sea Port of Novorossiisk, to the Kulevi...

According to Chinese consultants and ship tracking data, the latest U.S. sanction on a major Chinese crude terminal has forced Sinopec to divert one supertanker from its route and to ask certain plants to reduce crude processing rates. LSEG data revealed that a supertanker transporting oil to the Chinese Port of Rizhao, in Shandong Province, changed its destination at the weekend after U.S. sanctions were imposed on Friday on an import terminal located there. JLC Consultancy estimated that Sinopec’s October runs could drop by 3.36% compared to earlier plans, and may be around 5.16 million barrels a day. Sinopec has...

The supertanker rates have risen this week, and they are likely to remain high due to the U.S. and China titling-for-tat increases in port fees as well as concerns over the impact of U.S. sanction on a Chinese major crude oil terminal. According to traders, the Chinese port fees announced Friday would increase shipping costs by more than $7 per barrel for a Very Large Crude Carrier that is linked to the United States. This would amount to around $15 million, which would discourage anyone from chartering vessels linked to the United States. The VLCC spot rates for the Middle...

The supertanker rates have risen this week, and they are likely to remain high due to the U.S. and China titling-for-titling increases in port fees as well as concerns over the impact of U.S. sanction on a major Chinese crude terminal. According to traders, the Chinese port fees announced Friday would increase shipping costs by more than $7 per barrel for a Very Large Crude Carrier that is linked to the United States. This would amount to around $15 million, which would discourage anyone from chartering vessels linked to the United States. The VLCC spot rates for the Middle East-China...

LSEG data show that a supertanker transporting oil to the Chinese Port of Rizhao, in Shandong Province, changed its destination over the weekend. The U.S. imposed restrictions on an import terminal there on Friday. The Very Large Crude Carrier New Vista chartered by Unipec - the trading arm for China Petroleum and Chemical Corp, also known as Sinopec - changed its destination to Ningbo and Zhoushan, arriving on October 15th, according to LSEG data. Data showed that the New Vista had originally been scheduled to discharge in Rizhao, Sunday. The vessel can hold 2 million barrels and is currently transporting...

China's Transport Ministry announced on Friday that it will impose port fees for U.S. owned, operated, flagged, or built vessels starting on Tuesday, as a response to U.S. fees on ships with ties to China. The U.S. president Donald Trump announced that he would increase tariffs on Chinese imports to the U.S. by 100%, and implement export controls on key software as a retaliation to China's export restrictions on rare earth minerals. Analysts said that there are only a few U.S. built or U.S. flagged vessels doing international trade. But China will ensnare even more vessels by applying levies on...

Market sources say that the price of Urals crude remained stable on Thursday, despite a thin trade. However, a rise in freight rates from Russian ports to Asia may affect its differentials with Brent dated, they said. The EU's sanctions chief said that while sanctions are hurting Russia's economy, President Donald Trump keeps his allies guessing as to whether he'll sign off on additional measures. This is despite Washington's participation in the G7 deal to coordinate actions against the Kremlin. PLATTS WINDOW There were no bids or offerings reported on Thursday in the Platts Window for Urals, Azeri BTC Blend...

Two sources familiar with this matter have confirmed that Abu Dhabi's sovereign fund ADQ is a possible suitor for the sale of Catania Airport's operator, in Sicily. The fund has also expressed an initial interest in the asset. Sources, who spoke on condition of anonymity, said that the sale process had not yet begun. However, interest is growing in the asset ahead of any potential launch. Catania, Sicily's principal airport, is Italy's fifth-busiest airport in terms of passenger traffic. The airport is operated under a long-term concession by SAC. This company is owned by the local authorities and chambers. SAC...

Oct. 9 - Stock markets in the Gulf region rose early on Thursday, supported by the hope of more U.S. rate cuts in this year as well as a possible ceasefire in Gaza to ease geopolitical tensions. On Wednesday, market participants applauded Israel's and Hamas's agreement to the first phase in U.S. president Donald Trump’s plan for Gaza. The deal could lead to the end of a two-year war that has ravaged the Middle East. Saudi Arabia's benchmark stock index rose 0.3%. This was mainly due to a 0.8% increase at Al Rajhi Bank, and a 1,1% rise at Saudi...

Urals crude differentials remained unchanged on Monday after OPEC+’s planned production increases for November appeared to be less modest than expected. OPEC+ said that it will increase oil production by 137,000 barrels a day (bpd) from November, opting for a similar modest monthly rise as in October amid persistent concerns about a looming glut of supply. The oil price rose about $1 on Sunday, easing some supply concerns, but a weak outlook for the near term is likely to limit gains. Two industry sources reported on Monday that the Kirishi oil refining plant, one of Russia’s largest, had halted its...

Financial Times, citing an alleged plan, reported that Field Marshal Asim Muniz's advisers had approached U.S. officials to offer to build and operate a port in the Arabian Sea. According to the Financial Times, the plan involves American investors building and running a terminal in Pasni to access Pakistan's vital minerals. Pasni lies in Gwadar District, in the province Balochistan which borders Afghanistan, Iran and Pakistan. Munir and Pakistan's prime minister Shehbaz Shariff met with Donald Trump, the U.S. president, at the White House back in September. Sharif requested investment in the U.S. mining, energy, agriculture and technology sectors during...

The third quarter of recent history was both one of best and worst for dealmakers around the world. According to Dealogic, megadeals generated a staggering $1.26 trillion worth of global mergers and purchases during the third-quarter - an increase of 40% over the previous year. This was the second best third-quarter ever by deal value. Data show that only 8,912 transactions were completed, down 16% on last year. This is the lowest third-quarter deal volume for 20 years. Dealmakers are in a strange situation, as they had high hopes for 2025 following the election of Donald Trump. Trump's punishing Tariffs,...

The third quarter of recent history was both one of best and worst for dealmakers around the world. According to Dealogic, megadeals generated a staggering $1.26 trillion worth of global mergers and purchases during the third-quarter - an increase of 40% over the previous year. This was the second best third-quarter ever by deal value. Data show that only 8,912 transactions were completed, a drop of 16% compared to last year. This is the lowest third-quarter deal volume for 20 years. Dealmakers are in a strange situation, as they had high hopes for 2025 following the election of Donald Trump....

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Mexico is planning to increase import tariffs on almost 1,500 products including cars, steel, textiles and appliances to protect the domestic industry and job opportunities, particularly from cheap Chinese goods. This comes amid wider trade talks with both the U.S. Oracle has signed an unprecedented $300 billion cloud computing contract with OpenAI to support massive AI expansion starting in 2027. This is one of the biggest tech contracts ever, and signals a high-stakes wager on ChatGPT’s continued...

Israel's military confirmed that a missile fired from Yemen at Israel on Thursday fell in an area open outside Israeli territory. No sirens were activated. This was the third launch of this kind within 24 hours. Yemen's Iran supported Houthis have recently increased attacks and launched missiles in response to Israeli attacks against Yemen. The Houthis launched missiles and drones towards Israel from thousands of kilometers away, calling it an act of solidarity with Palestinians. The majority of missiles or drones that were launched either missed their targets or were intercepted. Israel has responded by bombing areas in Yemen controlled...

Two sources familiar with the matter said that JD.Com's property investment arm and two other firms are planning to launch a Singapore based real estate trust (REIT), with assets valued at potentially more than $1 billion. Sources said that JD Property (the unlisted infrastructure investment platform and asset management platform for JD.Com) is creating the REIT in partnership with Partners Group, a Swiss investment firm, and EZA Hill Property which is backed up by Asian investment firm Hillhouse. Sources who refused to name themselves because the matter was private said that the REIT plan could be listed at the Singapore...

A senior official revealed on Wednesday that Uganda was in discussions with credit export agencies and development finance institutions to have 85% a planned rail project funded with debt. This is due to concerns about the already high public debt. In October of last year, Turkey's Yapi Merkezi was awarded the contract for the construction of the 2.7 billion euro ($3.15 billion) rail. Preliminary works have already begun. Perez Wamburu said that some of the potential financiers are the OPEC Fund for International Development (FIDA), the Africa Development Bank, the Islamic Development Bank, and some European export credit companies. Wamburu...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. California-based Palo Alto Networks has entered into talks with Israeli cybersecurity company CyberArk Software to purchase it in a deal valued at over $20 billion. Union Pacific announced that it will buy the smaller competitor Norfolk Southern for $85 billion. This deal will create the United States' first coast-to-coast rail freight operator, and change the way goods are transported across the nation from grains to automobiles. CBL Properties, based in Tennessee, has acquired four malls for the...

The operator of the Greek bulk carrier said that the 19-member crew, which was severely damaged by repeated attacks in the Red Sea, likely carried out by Houthi militants are safe. They will arrive at Djibouti on Monday evening. Michael Bodouroglou said that the fate of the Liberian Magic Seas, which is flying the Liberian flag, was uncertain. The vessel could sink, according to Bodouroglou. The first incident of this kind to be reported since mid-April was Sunday's attack off the southwest coast Yemen. The Magic Seas was targeted by gunfire, rocket-propelled missiles, and skiffs for more than four hour....

An attack on a ship in the Red Sea, off the coast of Yemen's southwest coast, was launched by eight small boats using gunfire and grenades. A British maritime agency and a security firm confirmed the incident. The situation continues, according to the United Kingdom Maritime Trade Operations and British maritime security company Ambrey. The attack was not immediately attributed to anyone. This is the first report on the region by the agencies since the middle of April. The tensions in the Middle East are still high due to the conflict in Gaza, the 12-day Israel/Iran war that lasted for...

Hamas announced on Saturday that it had responded in kind to a ceasefire offer made by Steve Witkoff, the Middle East envoy for U.S. president Donald Trump. The proposal included a call for an end to war which was previously a redline for Israel. In a press release, the Palestinian group stated that it would release 10 living hostages in exchange for Israel releasing a number Palestinian prisoners. This is in line with Witkoff’s proposal. Hamas' statement continued: "This proposal is aimed at achieving a permanent ceasefire and a complete withdrawal from Gaza Strip. It also aims to ensure that...

Norway's $1.8 trillion sovereign wealth fund, the world's largest, can begin selling stocks it holds in Russian companies, as long as it complies with worldwide sanctions, the deputy finance minister told Reuters on Friday. Permission to offer the fund's Russian stocks is given on the condition that the sale can be carried out in line with suitable sanctions, Ellen Reitan said in an email. The Norwegian finance ministry bought a halt to all deals in the fund's Russian properties soon after Moscow's. invasion of Ukraine in February 2022 and stated at the time that. the ultimate goal was to divest...

A convoy of 109 trucks was violently looted on Nov. 16 after going into Gaza, resulting in the loss of 98 trucks in what aid workers state is among the worst such occurrences in the more than 13monthold war, an UNRWA help authorities informed Reuters on Monday. The convoy carrying food supplied by U.N. companies UNRWA and the World Food Program was advised by Israel to leave at brief notification through an unknown path from Kerem Shalom crossing, Louise Wateridge, UNRWA Elder Emergency situation Officer informed Reuters. This event highlights the intensity of gain access to obstacles of bringing help...