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  • Turkey seeks Saudi partnership cooperation as it plans to be an energy hub to Europe, minister tells Arab News

    “Turkey from its geographical position is an energy corridor from Russia, Iran, and Saudi Arabia. Any kind of natural gas or oil that is going to be transported or shipped, will cost less and will be more safely shipped,” Nureddin Nebati told Arab News in an interview.

  • Israel’s Bank Leumi interested in investments in Saudi, chairman says

    Israel's Bank Leumi (LUMI.TA) would like to tap into investment opportunities in Saudi Arabia, Chairman Samer Haj Yehia told a business forum in Riyadh, which he is attending in the latest sign of a potential thawing in Saudi-Israeli relations. The presence of Bank Leumi, one of Israel's two largest banks, at the kingdom's flagship investment event suggested this marked another gesture by Riyadh towards warmer ties with Israel after fellow Gulf states the United Arab Emirates and Bahrain forged ties with Israel in 2020, with Saudi blessings. "We can see that there's a lot of investment going on, and we want to tap into that kind of investment, whether it's on the payment side or on the retail side or on the cryptocurrency side," Haj Yehia told a panel at the FII forum on Thursday.

  • Saudi energy minister discusses oil market stability with European ministers

    Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman held discussions on supporting and increasing the stability of the international oil market with European ministers, according to Saudi state news agency SPA. In separate virtual meetings with France's Minister for Energy Transition, Agnes Pannier-Runacher, and Greece's Energy Minister, Kostas Skrekas, Prince Abdulaziz discussed continuing close communication and strengthening cooperation to address emerging risks and challenges, SPA reported.

  • Too Much Gas. Europe’s Energy Crisis Takes a Surprise Turn

    Starved of the Russian imports on which its long relied, Europe has rushed to import liquefied natural gas from around the world to fill up storage. Now, a combination of unusually warm weather and successful bidding for cargoes means facilities are almost full before Europeans have even turned the thermostats up. Gas prices have also fallen back sharply, and are less than a third of their summer peak.

  • Most Ukrainians Expect to Join NATO, EU in Next Decade

    When Russian President Vladimir Putin invaded Ukraine earlier this year, it was under the pretext that if Ukraine joined the North Atlantic Treaty Organization (NATO), the expansion would threaten his country's security. Gallup surveys in Ukraine in September show the war has only pushed the country closer toward NATO and the West. Most Ukrainians now not only see their country becoming part of the alliance but also joining the European Union in the next decade.

  • Tankers Line Up Off Europe’s Coast Waiting for Gas Prices to Rise Again

    Thirty-five tankers are idling or sailing slowly around northwest Europe and the Iberian Peninsula, according to Felix Booth, head of LNG at energy and shipping data firm Vortexa. Six of the giant tankers are moored in Spain’s Bay of Cadiz, and there is another cluster in the English Channel.

  • Exxon exits Russia empty-handed with oil project ‘unilaterally terminated’ | Reuters

    Exxon did not say if it received any compensation for the assets, which it had valued at more than $4 billion. An Exxon spokesperson declined to comment on whether it will proceed to contest the seizure through an international arbitration process, a possibility flagged in August.

  • Saudi Ports surpass 650,000 TEU mark in September

    Saudi ports have recorded an increase in container throughput during September 2022, reaching a total of 657,420 TEU. The figure represents 9.20 per cent increase compared to the 602,033 TEU recorded in September 2021. Exported container throughput reached 266,654 TEU with a 12.48 per cent year-on-year increase. Imported containers reached 203,000 TEU, accounting for a 6.74 per cent increase compared to the 188,228 TEU recorded during the same period last year. Transshipment containers recorded an 8.59 per cent increase to reach 271,690 TEU in comparison with the 250,200 TEU recorded in the same month last year.

  • Inside story: Iran’s Islamic Republic faces neutrality, critics within clergy

    The clerics of Iran’s traditional Islamic base in Qom are increasingly becoming politically neutral, and in some cases are even criticizing officials’ behavior. However, the relative silence of most clerics in the holy city over the Sept. 16 death of Mahsa Amini, the 22-year-old woman who died whilst detained by Iran’s “morality police” has been criticized too.

  • EU Commission to propose potential ‘dynamic’ gas price cap

    The proposal is far short of the EU-wide gas price cap 15 EU countries have called for, but opposed by others such as Germany, Austria and the Netherlands that argue caps could lead to a gas shortage and fail to incentivise energy saving. "As a result of falling gas prices, this proposal shows that the appetite for ambitious reform, such as a price cap, is fading," said Georg Zachmann, an energy expert at think tank Bruegel.