Page 12 - MEOG Week 46 2022

MEOG NEWS IN BRIEF MEOG

POLICY navy announced it had found 70 tonnes of Ali Arif Akturk, a former senior executive at
a missile fuel component secreted among Turkey’s state energy importer Botas and oil
US, Israel blame Iran over bags of fertiliser on a ship bound for Yemen company Genel Energy, told Al-Monitor.
from Iran. The major seizure could disrupt
Exploration, he was quoted as saying, is
oil tanker attack the ballistic missile activities of the Iranian- “the riskiest part of the business” and means
backed Houthis fighting in Yemen.
the use of one’s own resources because there
The US and Israel have pointed the finger at On November 16, Greek officials is little chance of finding loans for such
Iran after a bomb-carrying drone struck an oil confirmed two Greek oil tankers, Delta projects. “I cannot say whether [the Algerian
tanker associated with an Israeli billionaire off Poseidon and Prudent Warrior, held by government] could offer fields where gas and
the coast of Oman on the night of November Tehran since May, had been freed, as well as oil discoveries are more likely or grant [the
15, The Associated Press has reported. their sailors. Their seizure came after Greece joint company] some competitive advantages.
The tanker in question - the Liberian- helped US sanctions enforcers seize oil from But Turkey is hardly on a competitive level in
flagged Pacific Zircon operated by Singapore- the Iranian-flagged tanker Lana. terms of exploration and production.”
based Eastern Pacific Shipping, a company Earlier this week, the international ship NEWSBASE
ultimately owned by billionaire Idan Ofer registries of Djibouti and the Cook Islands
- was carrying gas oil when it was “hit by a citing US sanctions suspended the flags on New Ankara insurance
projectile” 150 miles (240 km) off the coast of five oil tankers for having facilitated oil trade
Oman, according to Eastern Pacific. for Hezbollah militants and Iran’s Quds Force, demand could hinder
Tehran and Israel have for years fought non-governmental organisation United
a shadow war in the wider Middle East. Against Nuclear Iran (UANI) said. Russian oil exports
Previouos drone attacks blamed on Iran NEWSBASE
have targeted Israeli-associated vessels in the Turkey is to from December 1 demand
region. Turkey signs exploration proof of insurance coverage from oil
“We are in communication with the shippers sending tankers through its vital
vessel and there are no reports of injuries or deal with Algeria, expert straits connecting the Black Sea and the
pollution. All crew are safe and accounted for,” Mediterranean.
Eastern Pacific said in a statement cited by questions its viability The move could potentially restrict flows
the AP, adding: “There is some minor damage of Russian oil as new European sanctions take
to the vessel’s hull but no spillage of cargo or Turkey has struck an agreement for joint oil effect, but would enable Turkey to comply
water ingress.” and gas exploration with energy-rich Algeria, with the sanctions, while also helping to
White House national security adviser Jake though questions linger over the viability protect its maritime waters. The European
Sullivan said in a statement: “Upon review of of such a venture, Al-Monitor wrote on Union and UK are from December 5 to
the available information, we are confident November 15. Turkish Energy Minister Fatih apply additional curbs on Russian trade that
that Iran likely conducted this attack using a Donmez has announced that Turkey’s state- will make it much more difficult for tankers
UAV [unmanned aerial vehicle, or drone].” run petroleum company TP and Algerian carrying Russian oil to get insurance.
Israeli officials briefed that Iran appeared to counterpart Sonatrach are to set up a joint The insurance in question applies to a
have carried out the attack with a Shahed-136 company for oil and gas exploration in both range of dangers including oil spills and
exploding, or “kamikaze”, drone of the type Algeria and other regional countries. collisions. In the past six months, Russia
supplied to Russia for its war in Ukraine. The details of the plan remain unknown, shipped nearly 650,000 barrels a day of its
Iran’s government did not acknowledge the but it could pose financial challenges for own oil through the Bosporus strait from its
attack on the Pacific Zircon. Turkey, a country already struggling with Black Sea port of Novorossiysk over the past
The strike came just hours after the US economic turmoil, including an FX crunch, six months, loading programs compiled by

P12 www. NEWSBASE .com Week 46 16•November•2022