Asia

According to satellite images and shipping experts, a sanctions-hit oil tanker has been leaking oil near the coast of Oman. The spill has increased in recent days and is increasing concern about possible environmental damage. Ship tracking data indicates that the Caroline Bezengi stowed Russian oil at its Black Sea port, Novorossiysk, before departing for its latest voyage. Two maritime security sources confirmed that the ship first reported problems on June 8, off the southern Yemeni Port of Mukalla. They added that preliminary assessments suggested that an explosion had occurred onboard. Satellite image taken on July 28 shows that there...

Saudi Arabian state oil producer Saudi Aramco raised its official prices for liquefied petroleum gas by between 6% and 7% in August, traders reported on Friday. This was due to a higher demand for the product on global markets. Algeria's Sonatrach raised LPG prices between 19% and 23 % for August, according to traders. Saudi Aramco’s August OSPs have increased by $40 per metric tonne to $620. For propane, the price has increased by $40 per ton up to $640. Butane is a good alternative. LPG comes in two types: Propane (also known as butane) and propane. Both have different...

The stock markets of the United Arab Emirates closed higher on Friday. Abu Dhabi led the gains, as a strong corporate earnings boosted investor confidence. Abu Dhabi's benchmark index? jumped 0.4% in the second session of gains. Alpha Dhabi Holding rose 1.5% before its earnings announcement later that day. Adnoc Drilling gained 1.2% after it reported a 2% increase in net profit for Q2 to $359 Million, surpassing analyst estimates. Joseph Dahrieh said that despite external pressures the UAE stock market could continue to be resilient. Dubai's main index rose?0.1%, thanks to a rise of 1% in the Salik Company,...

Two industry sources have told? Two industry sources told? After repeated Ukrainian drone strikes on oil refineries caused shortages and price spikes, Moscow has introduced a "range" of measures to support its domestic fuel market. The measures include rail imports from Belarus and Kazakhstan of gasoline?and an export ban. Sources claim that a tanker flying the Panama flag loaded the cargo in Morocco's port Tangier at the end of July and is now dumping it at Russia's Arctic Port of Murmansk. Sources added that Lukoil was the supplier. The St. Petersburg International Mercantile Exchange (SPIMEX), which is a part of...

The Ukrainian association of 'grain producers' and 'exporters' said that the 2026 crop is expected to reach 84.6 metric tons. According to the statement of the grain association, this forecast has been increased by 1,000,000 tons due to favorable weather conditions. The association estimates that potential exports for the 2026/27 seasons could reach almost 52 million tonnes. It said that the wheat harvest is expected to be 23.7 million tonnes, and exports will reach 18 million tons. The capacity of Ukraine to export grain has declined significantly over the past few weeks, as Russia intensified its strikes against Black Sea...

Singapore has granted 'eight new licenses for the supply of liquefied 'natural gas to be used as a marine lubricant in Singapore starting?September 1, -2026, Maritime and Port Authority of Singapore announced on Thursday. The new licenses will increase Singapore's LNG bundling capacity in order to meet the growing demand and support a multi-fuel hub. Licenses were granted to a number of companies, including Aramco Trading Singapore and Equatorial Marine Fuel?Management?Services. Other recipients include PetroChina International Singapore and Shell Eastern Trading. The licenses are valid for a period of five years, from September 1, 2026 until August 31, 2031. LNG...

The Egyptian cabinet confirmed on Thursday that a 'drone' was responsible for the fire which engulfed the two gas ships at Egypt’s Mediterranean port of Damietta. This is the first confirmation that the blaze that broke out a day before was not an accident. The cabinet said that no party had claimed responsibility and authorities continued their investigations, taking the?necessary steps to protect Egypt's security. Ambrey, a British maritime security company, said that on Wednesday a "drone" had struck a U.S. owned gas storage tanker in the port. This was an initial assessment which raised concerns over a possible 'further...

Russia said on Thursday that it had launched a series of 'overnight strikes' on Ukrainian military factories, including in Kyiv, the capital, and Lviv in western Ukraine. It also claimed to have hit three cargo ships at sea in the Black Sea. The Defence Ministry claimed that it used missiles launched from land, sea, and air, along with strike drones to 'hit the Mayak Factory in Kyiv, which was said to be involved in the production of Ukrainian FP-1 & FP-2 strike robots. In the same statement, it claimed that it had hit Kyiv’s Electrical Technical Plant where it was...

Ambrey, a British maritime security company, said that a drone had hit a U.S. owned gas storage tanker in Egypt's Mediterranean port of Damietta. This was an initial assessment, which could indicate a new outbreak of conflict throughout the Middle East. Egypt's petroleum minister confirmed that there was a fire in the port, but did not mention a drone strike and did provide no explanation for the incident. Inchcape, a port services company, said in an unrelated message that two gas tanks had caught fire at Damietta. Three sources who were familiar with the incident confirmed that a drone struck...

Ambrey, a British maritime security firm, said on Wednesday that a drone had struck a U.S. owned gas storage tanker in Egypt's Mediterranean Port of Damietta. The company cited an initial assessment. The Egyptian petroleum ministry released a statement that confirmed the fire in the port, but did not mention a drone attack. Inchcape, a port services company, said in an unrelated message that two gas tanks had caught fire near Damietta. Three trading sources who were familiar with the incident confirmed that the drone struck a floating storage tanker named Energos winter, causing an explosion which spread to a...

As investors become more selective, major U.S. tech companies are borrowing heavily to fund their artificial intelligence builds. The yields on these loans have been steadily increasing. According to a LSEG analysis, Amazon, Alphabet and Meta Platforms issued approximately $194 billion of bonds between 2026 and July 7. This is up 79% compared to roughly $108 billion of bonds from 2025. Goldman Sachs expects the bond issuance of five hyperscalers including Microsoft Corporation to reach approximately $250 billion this year, and $400 billion by 2027. These investment-grade companies have seen their borrowing spreads increase over the risk-free rate for all...

Two merchant bankers who have a 'direct' knowledge of the plans confirmed the plan on Wednesday. The bankers declined to name themselves because they were not authorized to speak with the media. In August 2025 the company raised 15 billion rupees via an 18-month paper at a return of 10.35%, and 44 billion rupees via three-year papers with a rate of 10.50%. The bankers said that Delhi International Airport (DIAL), where GMR Airports has a 74% stake, also plans to raise 35 billion rupees through longer-duration papers of 15 years. These will have a call-option at the end the fifth...

A chef prepared to serve dozens if people who were waiting for a hot meal after Ukrainian attacks had cut off power in their kitchens. Fuel supplies in cities and towns throughout Crimea, the area that Russia annexed as part of Ukraine in 2014, were limited for most of the summer due to Ukrainian attacks on power plants and other infrastructure. Ukraine says that it is "bringing the war home to Russia" through intensified strikes on the territory and deep within the country controlled by its neighbor. Oksana Mdyud, the head of Massandra's town administration, said that her workers serve...

Iraq is planning to sign a?agreement for a year to continue Iraqi crude?flows?through?the Turkish?port of Ceyhan. This was announced by the oil ministry, according to Iraqi News Agency. The agreement would renew a 'decades long bilateral arrangement which expired on Monday, which allowed the operation of Baghdad’s 'only working export pipeline, the Iraq Turkey Pipeline (ITP). Salim al Rikabi, INA's spokesman, said that Iraq's Oil Minister is visiting Turkey on Saturday to sign an agreement providing for a daily capacity of 750,000 barallons. The extension will give time to negotiate a comprehensive agreement. The Turkish government wants the pipeline with...

In July, the share of coal in India's power generation mix fell to its lowest level?in an entire year as renewable energy production surged?to a new record high. The data revealed that renewable power has risen to 20% of India's total mix. The data showed that the number of kilowatt hours (kWh) consumed in July was 36.25, a 30% increase from last year. Grid-India, the state-run regulator, calculated that coal-power generation dropped to 65.7% from 69% in July. India's clean energy generation has risen as solar and wind output have exceeded 100 gigawatts. This is the first time that this...

Serbia has received another waiver from the United States to allow its Russian-owned oil firm NIS to continue importing crude until August 28, said energy minister Dubravka Djedovic Handanovic on Friday. The U.S. Office of Foreign Assets Control has granted a waiver to NIS which operates Serbia's sole oil refinery. This will give NIS more time as Hungary's MOL oil and gas firm negotiates with the Russian majority share in the company. "Thirty-days is good news. NIS will have enough time to buy and bring in enough crude oil," Djedovic handanovic said during a live broadcast by state television RTS....

IndiGo, India’s largest airline, announced 'on Friday' that it will discontinue its wide-body operations on October 25, and end its damp 'lease' agreement with Norway’s 'Norse Atlantic Airways' 'on October 31. This is a scaled-back version of a program launched last year in support of its long-haul goals. It said that a worsening operating climate, driven by geopolitical conflicts, had increased costs and affected the economics. IndiGo is responsible for the cabin crew in a "damp lease", while the lessor provides the jets and pilots. The airline stated that "Airspace constraints and increased fuel costs have impacted schedule integrity, connectivity,...

The drone attack that damaged two gas tanks in?Egyptian water has raised energy security concerns over the nearby Suez Canal, and a pipeline related to it. This is a vital route for Saudi Arabian crude oil exports since the beginning of the Iran War. While Iran and its Houthi-allied allies fired on oil tankers passing through the Strait of Hormuz, and Bab el-Mandeb in Egypt, Egypt's Suez Canal, and Sumed pipeline, continued to provide a?safe, Northbound export route for Saudi Red Sea Energy cargoes. Although no one has publicly claimed responsibility for the attack on Wednesday against the tankers in...

Two Turkish sources have said that the flow of crude oil from northern Iraq to Turkey's Ceyhan Port is expected to continue, as both countries negotiate a deal to allow the pipeline to run for another 12 months. An agreement that spanned decades expired on Monday. Iraq and Turkey, contrary to expectations, did not sign a 12-month extension on Tuesday during Prime Minister Ali al-Zaidi’s visit with President Tayyip Erdoan in Ankara. One of the Turkish officials said that the Iraq-Turkey Pipeline (ITP), Baghdad’s only export pipeline in operation, would continue to operate as long as both sides continued their...

According to an advisory dated July 29, London's'marine insurance' market has expanded 'the area it deems as high risk' in the Red Sea after attacks by Yemen's Houthi group on ships. However, Egyptian waters have been excluded. The Joint War Committee, made up of members from the London Insurance Company?Market and syndicate members, has a significant influence on insurance premiums. The advisory stated that the?high risk zone has been extended to include more of the coast along the Red Sea, adjacent to Saudi Arabian port cities. It also reaches as close as the Saudi port city of Jizan. The Iran-aligned...

Two people who are familiar with the discussions said that Saudi Arabia is looking to form an international coalition in order to protect ships from Houthi attacks on the Red Sea. Sources said that the composition of the coalition is still being finalised. It's also currently being discussed with dozens of other countries. The Saudi Center for International Communication didn't immediately respond to an inquiry for comment. The Iran-aligned Houthis announced on July 20 that they would impose "a naval blockade" on Saudi Arabia at the Red Sea in response to what they called a Saudi siege against Yemen. Riyadh...

Regional sources familiar with the matter said that Yemen's Houthi militia is considering charging fees to commercial ships navigating through the southern Red Sea a week after announcing a naval blockade against Saudi Arabia. The Iran-aligned Houthis declared a maritime boycott against Saudi Arabia on July 20th, opening up a "new" front against the U.S. Sources said that the Houthis are considering imposing fees for most traffic passing through the Bab el-Mandeb narrow gateway which connects the southern Red Sea to the Gulf of Aden. At this point, no timeframe for implementation was provided. The media office of the Houthis...

After he met with Iraqi Prime Minister Ali al-Zaidi, President Tayyip 'Erdogan' said on Tuesday that Turkey wanted to sign a comprehensive deal for energy cooperation as soon as possible. Erdogan, speaking at a press conference held after a signing event that was expected to include a deal keeping the Kirkuk-Ceyhan oil pipeline open 'for another year', said the state-owned Turkish oil and gas firm TPAO - would operate the Kirkuk oilfield currently used by BP. The deal to extend a decades-old agreement that governs the exports via the?pipeline, and which officially expired on Monday, was not signed by the...

Brookfield, a global investment firm, announced on Monday that it had raised $2 billion in private equity funds from strategic anchor investors including Saudi Arabia’s sovereign wealth fund. The fund will invest in Saudi Arabian companies and other Middle East firms. The Brookfield Middle East Partners fund (BMEP) aims to allocate half of its investments in Saudi Arabia. Brookfield, with a portfolio of?more than 1 trillion dollars, will contribute $500 million. Private equity firms from around the world have increased their investments in the Gulf region in recent years. They are attracted to the proximity of some of the largest...