Energy

India plans to open 250,000 square kilometres for oil and gas exploration as it seeks to reduce dependence on imported crude following the Gulf conflict.

Ras Tanura sits on Saudi Arabia's eastern coast, west of the Strait of Hormuz, and exported more than 5 million bpd of crude before the US-Israel war.

The World Bank board of directors have approved $265 million in financing to support construction of a new pumped hydropower storage plant in Morocco.

Turkey's energy minister met with senior Iraqi oil and foreign ministry officials to discuss the Iraq-Turkey Crude Oil Pipeline.

Rising exports from the Gulf, a region that accounts for a third of the world's oil supplies, are sending global oil prices lower

Ratio Petroleum could become the first Israeli company to take a direct interest in Egyptian energy assets amid continued hostility to normalisation

Iraq is seeking a higher OPEC quota and has considered leaving the group if output limits are not increased, as OPEC+ reviews production capacity.

Qatar expects LNG production to return to near-normal levels within weeks, with a US-Iran hotline seen as key to fully reopening the Strait of Hormuz.

Iraq predicts oil production will return to peacetime levels "within one to two months" after the Middle East war led to a plummet in exports.

The US Apache helicopter downed on 9 June by Iran, which led to retaliatory US strikes, was involved in the mission to escort ships out of the Gulf.