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Turkey’s gas bridge under threat
The country plays a vital role in connecting Asia to Europe, but the expiration of Russian contracts and the ramifications of the war in Iran are placing it under pressure
Letter from London: The oil market should panic tomorrow
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
The diesel crisis
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
Middle East oil vulnerabilities have been exposed
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
How Hormuz chokehold threatens LNG buyers
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
Letter from Iran: Testing times for Tehran-Beijing crude dynamics
Growing pressure from the Trump administration continues to threaten a resilient China-Iran oil nexus
Turkey locks in more Azeri gas
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
Explainer: Iran’s indispensable energy role
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
Kurdistan starts to deliver on oil promise
Gulf Keystone looks to a ‘transformational’ 2026, with the oil producer upbeat for the region should all the vested interests keep their eyes on the prize
The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
Iraq Iran Turkey
Gerald Butt
7 September 2017
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Fuel for the fire in Iraq

The Iraqi Kurds' quest for independence, to be tested in a forthcoming referendum, will force politicians to face up to the issue of disputed oilfields

The fate of the mighty Kirkuk oilfield has become the elephant in the room in Iraqi political discourse. "No one's discussing it," a retired oil-sector executive says, "because no one can see an easy solution." The future of Kirkuk's oil is inextricably woven into the fate of the city itself and who should control it. The two sides contesting it speak with passion that brooks no discussion. On the question of Kirkuk oil, the current state of affairs amounts to an uneasy truce—with an unspoken agreement to limit discussion of such an emotive issue. It's complicated, too. The Peshmerga forces of the Kurdistan Regional Government (KRG) took control of Kirkuk in mid-2014 to protect it from advan

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