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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
Accelerating MENA’s gas transformation
Gas has become a pillar of MENA economies and a catalyst for development strategies, fostering cooperation and creating new paths for economic diversification. Continued progress will require substantial investment and adapted regulations
Iraq Iran Kurdistan Turkey
Gerald Butt
30 June 2017
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Iraq: more clouds ahead

The future of contested oilfields is one issue bound up with Iraqi Kurds' independence hopes

The military defeat of the Islamic State (IS) group in Iraq should herald a new, peaceful era for the country, with the resettlement of thousands of displaced families and the rebuilding of towns and cities. Instead, a dark autumn cloud has appeared on the horizon in the form of an independence referendum to be held in the semi-autonomous Kurdish region of northern Iraq on 25 September. The Iraqi Kurdish leadership insists that the vote is designed to measure the desire of the Kurds for independence, rather than trigger an automatic process leading to statehood. Nevertheless, the whole subject of the Kurds seeking their own state is an extremely sensitive one for the federal government in Ba

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