Page 16 - MEOG Week 26 2021

MEOG NEWS IN BRIEF MEOG

2021-2022 and guides toward dividends that OPEC+, is returning 2.1 million barrels per In retaliation for Monday night’s shelling,
will be paid quarterly and grow 10% annually day (bpd) to the market from May through “heavy artillery has been fired by the (U.S.-
over the period. Fitch estimates strong pre- July as part of a plan to gradually unwind last led) international coalition” on the town of
dividend FCF margins of 8%-10%, which year’s record oil output curbs. Al-Mayadeen, controlled by Iranian militias,
offsets the 10% annual dividend growth. Sources told Reuters last Tuesday that the Observatory said.
FITCH OPEC+ was discussing a further easing of oil The Assad regime’s news agency SANA
output cuts from August as oil prices rise on meanwhile said that “missiles ... targeted a
demand recovery, but no decision had been military base of the U.S. occupation forces in
OIL taken yet on the exact volume to bring back to the Al-Omar oil field,” without citing who was
the market. responsible.
ADNOC to deepen crude oil REUTERS strikes targeted operational and weapons
The Pentagon said the previous night’s
term supply cut in Sept Pro-Iran militia fires shells storage facilities at two locations in Syria and
one in Iraq, all near the common border, and
Abu Dhabi National Oil Company (ADNOC) at US base in Syrian oilfield used by militias engaged in drone attacks
will reduce the volume of crude oil it supplies against U.S. interests in Iraq.
to Asian term buyers by 15% in September, Pro-Iranian militia forces fired several shells at Kataeb Hezbollah and Kataeb Sayyid
according to six sources with direct a base controlled by the US in eastern Syria’s al-Shuhada, two Iraqi Shiite armed factions,
knowledge of the matter. Al-Omar oil field Monday night, causing were among the “several Iran-backed militia
The cut was much deeper compared with damage but no casualties, initially reported by groups” that had used the facilities, the
a reduction of 5% in term volume allocation the Syrian Observatory for Human Rights said Pentagon said.
for crude oil cargoes loading in August, three and later confirmed by Operation Inherent There have been repeated attacks in
of the sources said. ADNOC did not provide a Resolve (OIR) spokesperson Col. Wayne recent months against U.S. interests in
reason for the deeper cuts, the sources said. Marotto via a Twitter post. Iraq that Washington blames on pro-Iran
ADNOC declined to comment on such “Initial report: At approx. 7:44 p.m. local groups, ranging from rocket fire, to attacks
issues. time, U.S. forces in Syria were attacked by on convoys, and – most recently – the use of
The move came as a surprise for some multiple rockets. There are no injuries and armed drones.
market participants ahead of an upcoming damage is being assessed. We will provide Iran-aligned groups operate in Iraq, which
OPEC+ meeting on July 1. It was not updates when we have more information,” counts both Tehran and Washington as allies,
immediately clear why ADNOC was making tweeted Marotto. and in war-torn Syria, where Iran is a key
a deeper supply cut for crude oil loading in The development came after the U.S. backer of the Assad regime.
September for its term contract customers. launched airstrikes the previous night against AFP
The Organization of the Petroleum three targets it said were used by pro-Iran
Exporting Countries and allies, known as groups in eastern Syria and western Iraq.

P16 www. NEWSBASE .com Week 26 30•June•2021