Page 13 - MEOG Week 17 2021

MEOG NEWS IN BRIEF MEOG

POLICY of reports of an incident approximately Basra ports April crude
2 nautical miles from Yanbu and that
Saudi says it foiled boat investigations were ongoing. exports average 2.7mn bpd
Details remained scarce, but the incident
attack off Yanbu port comes after a series of attacks on shipping in Iraq’s crude oil exports from the southern
the wider Middle East region amid a shadow
ports of Basra averaged 2.7 million barrels per
Saudi Arabia says it intercepted an explosive- war between Iran and Israel and against the day in April, the Iraqi News Agency reported
laden boat off the Red Sea port of Yanbu after backdrop of ongoing negotiations between on Tuesday.
maritime security firms cited “unconfirmed Tehran and world powers to revive the 2015 Oil production is in line with the
reports” of an attack on a vessel in the area. nuclear deal. agreement between the Organisation of the
A Saudi defence ministry statement did Yanbu, 870 kilometers (540 miles) west Petroleum Exporting Countries and its allies,
not say whether there had been any damage of Riyadh, serves as the end point of the collectively known as OPEC+, it said, citing
as a result of the operation by the Saudi navy kingdom’s crucial East-West Pipeline. It allows the director general of Basra Oil Co, Khalid
to intercept and destroy the remote-controlled crude oil pumped in its eastern fields to be Hamza.
drone boat on Tuesday. shipped directly via the Red Sea, avoiding the REUTERS
The state-run Saudi Press Agency quoted Gulf’s chokepoint at the Strait of Hormuz.
Saudi military spokesman Turki al-Maliki Yanbu is also home to an oil refinery that
saying: “The booby-trapped boat was dealt can process 400,000 barrels of crude per day. GAS
and destroyed according to the rules of Vessels have previously come under attack
engagement.” in Red Sea waters. Dana, Crescent resume
Security firm Dryad Global had earlier ALJAZEERA
said it received “unconfirmed reports” that a Khor Mor
vessel, possibly the oil tanker NCC Dammam
owned by a unit of Saudi firm Bahri, had been OIL Dana Gas and partner Crescent Petroleum
attacked off Yanbu. have announced the full resumption of the
Chief executive Abdullah Aldubaikhi told Kuwait oil minister says expansion project at the Khor Mor field in
Reuters news agency that no vessels owned the Kurdistan Region of Iraq (KRI), which
by the National Shipping Company of Saudi crude demand improving the companies jointly operate on behalf of the
Arabia (Bahri) had been attacked. Pearl Petroleum consortium.
Maritime security firm Neptune P2P Kuwait Oil Minister Mohammad Abdulatif The KM250 expansion involves further
Group reported that black smoke was seen al-Fares said on Tuesday global demand for investment of US$600 million to add 250
billowing near the south entrance of the crude oil “improved noticeably” as a result million cubic feet per day of much-needed
Yanbu port. of COVID-19 vaccine rollouts and economic additional gas production to supply the local
British maritime security company Ambry stimulus in major economies, the state-run power stations. The project construction work
also cited reports of an incident and said Kuwait News Agency reported. had been put on hold due to the COVID
smoke was seen rising from a vessel. Yanbu Al-Fares spoke ahead of a virtual meeting pandemic but is now on track for a new target
port control broadcast a message by marine of the Organisation of the Petroleum start date of April 2023, after agreement to
VHF radio, warning vessels to increase Exporting Countries and its allies, known lift the force majeure with both the Kurdistan
their level of alertness and monitor for any collectively as OPEC+, the agency said. Regional Government (KRG) and the
suspicious activity, Ambrey said. “OPEC’s policy is to deal carefully with the contractor.
United Kingdom Maritime Trade latest market developments,” he said. Under a Gas Sales agreement signed
Operations (UKMTO) said it was aware REUTERS in March 2019 with the KRG Ministry of

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