Africa's richest man helps fund $660m fuel pipeline between Ethiopia and Djibouti
The pipeline would strengthen energy security in landlocked Ethiopia, while creating jobs at Djibouti's port.
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The pipeline would strengthen energy security in landlocked Ethiopia, while creating jobs at Djibouti's port.
Against the backdrop of a recent gas pipeline leak during roadwork in the capital
President Trump is expected to meet Gulf leaders next week, that's according to Axios. The meeting is reportedly set to take place on the sidelines of the UN General Assembly in New York. Meanwhile, oil held its steep drop after reports suggested Saudi Arabia will return to about half the capacity of its damaged East-West pipeline within days. Megan Sutcliffe, Principal Analyst for the Middle East and Africa at Sibylline spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East & Africa on the attacks in the region. (Source: Bloomberg)
Oil held a drop on signs that supply disruptions in the Middle East are set to ease, with Saudi Arabia seeking to restore capacity of its damaged East-West pipeline. Global fuel markets have been squeezed by the combined impact of the US-Iran conflict and the war between Russia and Ukraine, with Kyiv pummeling Moscow’s refineries. Bloomberg's Will Kennedy breaks down the situation. (Source: Bloomberg)
Oil extended the biggest drop in more than six weeks on signs of easing Middle East supply disruptions, with a key pipeline being restored.
Saudi Arabia has cancelled some oil deliveries to Europe after attacks shut down its export pipeline to the Red Sea.
A senior Iraqi source points to a resistance 'splinter' group for the September attack on the East-West pipeline.
The 1,200km (745-mile) pipeline has been temporarily closed, affecting up to 5 percent of global oil supply.
Saudi Arabia on Saturday shut down the vital East-West pipeline after the conduit came under attack in the widening Middle East war, threatening to send energy prices soaring. The 1,200-km pipeline has served as the main route out for global supplies of Middle East oil for the past six months while the Strait of Hormuz has been largely shut by war.
The closure of Saudi Arabia’s East-West pipeline sparked further fallout on Saturday after the attacks were determined to have been launched from inside Iraq.
Baghdad launches investigation, closes border after confirming strike came from Iraqi territory.
Iraq condemns the attack, says Prime Minister Ali al-Zaidi orders an investigation into those responsible.
China and Russia’s negotiations regarding the construction of the Power of Siberia 2 pipeline have stalled, according to multiple sources who have knowledge of the issue, as both sides cannot bridge a big gap over gas price expectations. “China hopes to secure a price comparable to Russia’s subsidised residential rate, around US$50/thousand cubic metres, or at least the domestic industrial rate of about US$120-130/thousand cubic metres,” said one source, who asked for anonymity due to the...