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theguardian.com | 6 hrs. 18 min. ago

Saudi Arabia shuts down key oil pipeline, blaming drones from Iraq

#crude #crude oil #Export #Iran #Iraq #Lockdown #oil #R #Saudi Arabia #sea

Riyadh has increased use of East-West pipeline since start of war on Iran to bypass closure of strait of HormuzSaudi Arabia has shut down a critical oil pipeline, accusing militants in Iraq of launching drone attacks on the export route being used to bypass the lockdown of the strait of Hormuz.The world’s largest ⁠crude oil exporter has increased its use of the 745-mile (1,200km) pipeline running across the Arabian peninsula, which links Abqaiq, near the Gulf, to the port of Yanbu, on the Red Sea, since the US-Israeli war against Iran began. Continue reading...

cbsnews.com | 10 hrs. 16 min. ago

Iran-backed Houthis tighten grip on key oil shipping lane

#Export #Iran #oil #Saudi Arabia #Shipping

The moves by the Houthis make it easier for the Iran-backed rebels to target ships transiting the crucial Bab el-Mandeb Strait for Saudi Arabian oil exports.

al-monitor.com | 12 hrs. 24 min. ago

Trump says Iran probably responsible for attack on Saudi pipeline

#crude #Export #Iran #Main #oil #Saudi Arabia #Trump

DUBLIN, Sept 12 (Reuters) - U.S. President Donald Trump said on Saturday that Iran was probably responsible for an aerial attack on Saudi Arabia ​that shut down its East-West pipeline, one of the kingdom's main routes for exporting crude while bypassing the Strait of Hormuz."I think they are, probably they are," Trump told reporters in Dublin when asked if Iran was responsible for the attack on the vital oil conduit.The U.S. president also said that he had spoken with Saudi Crown Prince Mohammed bin Salman, whom he described as a "good friend."

koreatimes.co.kr | 14 hrs. 34 min. ago

President Lee reassures public over oil prices amid escalating Middle East tensions

#Barrel #CAP #crude #crude oil #Don #energy #Export #export control #Import #loss #media #oil #oil price #R #Saudi Arabia #sea #Swap

President Lee Jae Myung reassured Koreans on Saturday that the government is taking all necessary measures to stabilize oil prices amid a surge in global crude prices caused by escalating tensions in the Middle East. In a post on the social media platform X, Lee highlighted the government's efforts to diversify crude oil imports to reduce the country's reliance on the Middle East, with the region's share of imports falling from about 70 percent to 50 percent. He also cited measures including oil price caps, export controls and a strategic oil reserve swap system. Lee reaffirmed the government's commitment to cracking down on oil hoarding and price collusion, while compensating local refiners for losses stemming from government price stabilization measures. "You don't have to worry about oil prices at all," Lee wrote. The remarks came as disruptions in the Red Sea and the Strait of Hormuz fueled concerns over global energy supplies, pushing oil prices back above $100 per barrel. Adding to the supply concerns, Saudi Arabia shut down its East-West pipeline after the key oil conduit came under

defence-blog.com | 16 hrs. 10 min. ago

Boeing KC-46A export deal ceiling jumps to $19.1 billion

#Export #GAV #Margin #Size

The U.S. Air Force just gave itself a lot more room to sell Boeing’s aerial refueling tanker overseas. In a contract modification worth $13.4 billion, the Air Force raised the ceiling on an existing Foreign Military Sales agreement for the KC-46A Pegasus tanker from $5.7 billion to $19.1 billion, more than tripling how much business […]

npr.org | 16 hrs. 42 min. ago

Yemen's Houthis capture a Red Sea island in threat to shipping

#Export #Island #oil #R #Saudi Arabia #sea #Shipping #Yemen

Iranian-backed Houthi rebels in Yemen have captured a strategic island in the Bab el-Mandeb Strait. The move threatens Saudi oil exports through a key commercial lane. And Saudi Arabia said it shut down a major oil pipeline as a precaution after it came under attack.

france24.com | 18 hrs. 43 min. ago

Live: Saudi Arabia oil pipeline shut down after drone attack launched from Iraq

#crude #Export #Iraq #oil #Saudi Arabia

Saudi Arabia shut down its crucial Eat-West pipeline after it was attacked on Thursday, threatening an important alternative route for crude exports from the Gulf. Iraq has chosen not to retaliate at this state, its foreign ministry said. Read about the day’s events as they unfolded on our liveblog.

livemint.com | 19 hrs. 41 min. ago

US-Iran war: As conflict widens, more waterways become unsafe for oil exports, raising fears of energy crisis

#energy #energy crisis #Export #Iran #oil #Shipping

As tensions escalate in the Middle East with no diplomatic resolution in sight, growing disruptions to key oil-shipping waterways are raising fears of a global energy crisis.

livemint.com | 21 hrs. 35 min. ago

From world's biggest LNG exporter to importer: How Iran war, Hormuz closure forced Qatar to turn to US gas

#Export #Gas #Import #Iran #Qatar

QatarEnergy is negotiating with several producers to secure multi-year US LNG contracts through 2031, a report claimed on Saturday.

al-monitor.com | 21 hrs. 50 min. ago

Saudis shut down oil pipeline as Houthis tighten grip on Red Sea shipping

#crude #crude oil #Export #Iraq #oil #R #Saudi Arabia #sea #Shipping

By Mohammed Ghobari, Eman Abouhassira and Yasmine GhaniaADEN/DUBAI, Sept 12 (Reuters) - Saudi Arabia has shut down its East-West pipeline after the vital oil conduitcame under aerial attack in the widening Middle East war.The world’s largest crude oil exporter temporarily closed the pipeline after a drone attack that both Baghdad and Riyadh said had originated in Iraq, where Iranian-backed militias operate. Iraq dismissed a military commander on Saturday in response to the attack.

france24.com | 23 hrs. 56 min. ago

Iran-backed Houthis seize near control of vital Bab el-Mandeb shipping lane

#energy #Export #Iran #Island #oil #R #sea #Shipping #Yemen

Yemen's Iran-aligned Houthi rebels captured the strategic Perim Island in the Bab el-Mandeb Strait, located at the southern entrance to the Red Sea, officials said on Friday. The lightning move opens a new front in the Iran war and threatens energy supplies, especially Saudi oil exports, from passing through one of the world's key shipping lanes.

nytimes.com | 1 days ago

Saudi Oil Exports Face Heightened Threats After Attacks on Pipeline

#Export #oil #R #sea

Ship operators already faced severe risks in navigating the region, and now the danger is higher as Houthi militias assert control in the Red Sea.

koreatimes.co.kr | 1 days ago

Korea's hottest new cultural exports take center stage at The Hyundai Seoul

#Export #SET

Forget cheap plastic keychains and generic refrigerator magnets. Korea is elevating the humble travel souvenir into a high-design art form, debuting its premier lineup of culturally rooted artisanal goods in the heart of Yeouido. Starting Friday, the Korea Tourism Organization (KTO) unveiled "Korea Select 25," an exclusive 10-day showcase at The Hyundai Seoul running through Sept. 20. Staged on the department store’s lively fifth floor, the pop-up introduces the 25 winning entries of the 2026 Korea Tourism Souvenir Contest to the public for the first time. The crown jewel of this year’s competition — securing the prestigious Presidential Award — is a handcrafted brass tableware set titled "The Brilliant Stage of Baudeogi, Unfolded on the Dining Table." Drawing inspiration from the traditional folding fans used by Baudeogi, Korea’s legendary 19th-century female folk performer from Anseong, the "bangjja yugi" (forged bronze) collection seamlessly blends historic performing arts with modern lifestyle aesthetics. The choice of venue reflects a broader shift in how international vis

thenextweb.com | 1 days ago

China’s car exports beat last year’s record with four months to go

#China #EU #Europe #Export #GAP #growth #media #tariff

China exported more than 6.2 million passenger cars in the first eight months of this year, beating its full-year total for 2025 with four months to spare, while domestic sales fell 25.6% in August. Europe absorbed much of the growth through plug-in hybrids, which the EU’s tariff on Chinese cars does not cover, and BYD’s […] This story continues at The Next Web

livemint.com | 1 days ago

EU moves India trade deal closer to finish line

#EU #Export #FTA #India #tariff #tariffs #trade

The European Commission has sought the Council's approval to sign and conclude the landmark FTA, which would cut tariffs on 96% of EU goods exports to India

koreatimes.co.kr | 1 days ago

Iran-backed Houthis seize key island, opening new front in Iran war

#crude #Export #Gas #gas price #Iran #Island #market #oil #R #Saudi Arabia #sea #Shipping #United States #Yemen

CAIRO — Yemen’s Iranian-backed Houthi rebels captured a strategic island at the southern entrance to the Red Sea, two officials said Friday, opening a new front in the Iran war and further threatening Saudi oil exports through one of the world’s key shipping lanes. The Houthis’ biggest territorial gains in years, along the Bab el-Mandeb Strait , could boost Iran’s strategy of driving up world oil and gas prices to pressure the United States. Saudi Arabia struck the airport in the nearby port city of Mokha that the Houthis seized Thursday, a Houthi broadcaster said. There were no reports of damage or deaths. The capture of Mayun , a tiny, barren volcanic island inside the strait also known as Perim, was confirmed by a senior military official with Yemen’s internationally recognized government and by a Houthi official. Both spoke on condition of anonymity because they were not authorized to talk to journalists. Saudi Arabia, the world's largest oil exporter, has increasingly relied on the Red Sea to get its crude to market as an alternative to the Strait of Hormuz, where Iran h

kyivindependent.com | 1 days ago

Ukraine increases food exports in September, but remains at 40% of its capacity

#Agricultural products #Export #grain #Ukraine

Since the start of September, Ukraine has exported 630,000 metric tons of agricultural products, more than half of which was grain — 380,000 tons.

theguardian.com | 1 days ago

Iran’s Houthi allies capture strategic island on vital oil shipping route

#Export #Iran #Island #Li #loss #oil #R #sea #Shipping #Yemen

Rampant Yemeni fighters take control of island in narrow point of Bab al-Mandab strait, which Saudi is relying on for oil exportsViolence in Yemen: why it matters and how it is linked to the US-Iran warYemen’s rampant Houthi forces have captured a strategic island in the Bab al-Mandab strait, expanding their control of the narrow waterway, one of the ​world’s vital shipping routes.The Iran-aligned Houthis took control of the volcanic island after forces allied to the UN-backed, Aden-based government left in the latest of a dramatic series of reverses along Yemen’s west coast in recent days, including the loss of the port city of Mocha on Thursday. Continue reading...

kyivpost.com | 1 days ago

Putin's Wrong – Russia’s Oil Exports and Revenue Both Slump in August

#crude #Export #oil #revenue #Russia

Contrary to what Putin said in Vladivostok, it has not been more profitable for Russia to sell crude than to refine it domestically. August’s figures saw Russia’s overall exports dropping by 7% and revenue dropping by 8%, with seaborne crude revenues dropping 32% month-on-month, to a five-year low at $90 million per day.

koreatimes.co.kr | 1 days ago

Korea's economic recovery remains solid, led by exports: finance ministry

#economy #employment #Export #Inflation #jobs #oil #oil price #recovery #semiconductor #Support #unemployment #Unemployment Rate

Korea's economy continues to show solid signs of recovery, supported by robust exports and improving domestic consumption, the finance ministry said Friday. The Ministry of Finance and Economy offered the assessment in its monthly economic report, known as the Green Book, maintaining its positive assessment from the August report while noting that uncertainties surrounding the war in the Middle East persist. "Recently, the South Korean economy has been showing solid signs of recovery, supported by a substantial increase in exports and improving domestic consumption," the report said. Korea's exports surged 68.7 percent in August from a year earlier, buoyed by strong semiconductor shipments. "However, as uncertainties related to the war in the Middle East have widened somewhat, pressure on people's livelihoods continues amid inflation caused by high oil prices and employment difficulties faced by vulnerable groups and sectors," it added. In August, Korea added 184,000 jobs from a year earlier, while the unemployment rate remained unchanged at 2 percent. The increase marked the largest gain

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euronews.com | 1 days ago

Europe spends record €7.3bn on Russian Arctic gas in just eight months, surpassing 2025 total

#Europe #Export #Gas #Russia #Shipping

Two European companies dominate the Arctic shipping network: Scotland's Seapeak and the Greek-linked shipping firm Dynagas. Together, vessels tied to these two European companies managed 72% of all Yamal LNG exports.

koreatimes.co.kr | 1 days ago

US loosens Iran's grip on Strait of Hormuz but war is not over

#Barrel #Benchmark #crude #Diesel #Export #Gas #gas price #Inflation #Iran #Israel #oil #oil price #Saudi Arabia #transport #Trump #United States #Yemen

In recent weeks, the United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own oil exports, accelerating its economic free fall. But the war launched by the U.S. and Israel in February — intended to last a few weeks — is still far from over, and the stalemate is costly for both sides. An agreement reached in June quickly crumbled , with no sign of diplomatic progress since then. Low-level fighting persists, and the U.S. does not seem to have an exit strategy. The mounting economic pressure on Iran has yet to stoke an uprising, and if its leaders are backed into a corner, they may opt for military escalation rather than capitulation. Their Houthi allies in Yemen have meanwhile stepped up attacks on Saudi Arabia , helping to push oil prices back up. The price of a barrel of Brent crude, the international benchmark, surged above $100 this week, and diesel — heavily used in transport and farming — hit a record, potentially stoking inflation. U.S. President Donald Trump has acknowledged that gas prices are likely to stay h

businessinsider.com | 1 days ago

China's AI chip IPO boom rolls on as another Nvidia challenger soars 200% in market debut

#AI #Boom #China #Export #IPO #market #semiconductor

Tencent-backed Enflame is riding China's AI chip boom as US export curbs accelerate Beijing's semiconductor ambitions.

independent.co.uk | 1 days ago

The US has made progress in reopening the Strait of Hormuz, but the Iran war is far from over

#Export #Iran #United States

The United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own exports

kyivindependent.com | 1 days ago

Russia now importing fuel from South Korea, Turkey because of Ukraine drone strikes, report says

#energy #Export #Import #oil #Russia #strike #Turkey #Ukraine

Ukrainian strikes on Russia's energy industry have "turned the tables on the world's once largest oil product exporter," according to a new report by the Center for Research on Energy and Clean Air think tank.

koreatimes.co.kr | 1 days ago

Samsung E&A wins $3.5 bil. Saudi fertilizer project

#construction #Export #Gas #plant #Saudi Arabia

Samsung E&A has secured a 4.7 trillion won ($3.5 billion) fertilizer project in Saudi Arabia, marking another major milestone in its growing Middle Eastern expansion and reinforcing its long-standing partnership with SABIC. Under the newly signed engineering, procurement and construction (EPC) contract with SABIC Agri-Nutrients, the company will independently execute the project — dubbed SAN-7 — with completion targeted for 2030. The signing ceremony was held Tuesday (local time) at SABIC headquarters in Jubail and was attended by senior executives including Namkoong Hong, president of Samsung E&A, and Fahad Misfer Al-Battar, president of SABIC Agri-Nutrients. The plant will be built in Jubail Industrial City and will use natural gas to produce 3,500 metric tons of ammonia per day and 7,700 metric tons of urea fertilizer, with all production destined for export. The facility will include postcombustion carbon capture technology that will use carbon dioxide generated during ammonia production in urea synthesis, reducing emissions while improving economic efficiency, Samsung E&A said. S

abc.net.au | 1 days ago

Company plans 700-metre jetty as part of sand export project

#Export #Min

An upcoming proposal to mine millions of tonnes of sand for export from Tasmania's largest farm triggers concern from Aboriginal groups.

axios.com | 1 days ago

Saudi crown prince urged Trump to strike Houthis amid Red Sea threat

#energy #Export #GAV #Iran #Leverage #Li #oil #oil price #R #Regional #Saudi Arabia #sea #Stress #strike #Support #trade #Trump #United States #Yemen

Saudi Crown Prince Mohammed bin Salman (MBS) called President Trump twice Thursday, urging him to launch strikes against the Houthis as the Iran-backed group closed in on a vital Red Sea chokepoint, two U.S. officials told Axios.Trump declined, and U.S. officials stressed the administration has no plans to intervene directly against the Houthis for now.Why it matters: Oil prices surged Thursday as the Houthis seized a strategic coastal city in Yemen, pushing them closer to the Bab al-Mandab Strait — a vital artery for global trade and Saudi oil exports.With Iran already disrupting traffic through the Strait of Hormuz, Houthi control of Bab al-Mandab could give Tehran a powerful new point of leverage over the U.S. and its Gulf allies.Driving the news: The U.S. is concerned about the rapidly escalating fight in Yemen and is stepping up support for Saudi Arabia while trying to avoid direct military involvement.Adm. Brad Cooper, the commander of U.S. Central Command, traveled to Saudi Arabia on Thursday for urgent coordination meetings, two sources with knowledge of the matter said.The Saudi embassy in Washington and the White House declined to comment. Catch up quick: The Saudi-Houthi confrontation reignited in July after Riyadh prevented an Iranian plane carrying senior Houthi officials home from the funeral of former Iranian Supreme Leader Ali Khamenei from landing in Sanaa.MBS asked Trump for political backing to strike the Sanaa airport, but made clear Saudi Arabia did not need U.S. military assistance. Trump gave him his support.The Houthis retaliated by attacking Saudi tankers in the Red Sea, threatening a crucial route for the kingdom's oil exports, and later expanded their attacks to Saudi energy facilities.Saudi Arabia and its Yemeni allies responded with airstrikes and ground offensives against Houthi positions.Behind the scenes: Saudi Arabia's request for direct U.S. military action marks a sharp reversal from July, when Riyadh told Washington it could handle the Houthis on its own.As the fighting intensified, however, the Saudis began seeking increasing levels of U.S. support.U.S. military and civilian officials have told their Saudi counterparts in recent weeks that Trump's directive is to keep American forces focused on Iran and the Strait of Hormuz — and avoid opening another front, sources familiar with the discussions said.On Thursday, as Houthi forces advanced on the coastal city of Mokha and Saudi-backed Yemeni forces retreated, MBS called Trump to brief him on the deteriorating situation, U.S. officials said.Several hours later, MBS called again and urged Trump to order U.S. strikes against the Houthis.Trump declined, but a U.S. official said the administration will provide Saudi Arabia with intelligence on the Houthis and targeting data.Roughly 200 U.S. military personnel are already in Saudi Arabia providing non-kinetic support, the official said.What they're saying: A senior Trump administration official signaled that Washington's priority is keeping the Red Sea open while leaving the broader fight to its regional partners."The United States is focused on protecting our core national security interests — such as ensuring freedom of navigation in the Red Sea — while empowering our regional partners to take the lead in managing and resolving regional security challenges," the official said."We are in continuous dialogue with Saudi Arabia and the Republic of Yemen Government regarding regional stability."

koreatimes.co.kr | 1 days ago

Korea Eximbank steps up financial diplomacy with 10 African nations

#AI #artificial intelligence #Bank #Botswana #construction #cooperation #development cooperation #economic cooperation #Egypt #Export #Fund #Ghana #Import #Kenya #KI #Lesotho #market #Rwanda #Sierra Leone #Support #Tanzania #Uganda #Zimbabwe

Hwang Ki-yeon, chairman and CEO of the Export-Import Bank of Korea (Korea Eximbank), held a series of high-level meetings with officials from 10 African countries in Seoul to discuss development projects and ways to support Korean companies seeking to enter the continent's growing markets, the bank said Friday. The meetings were held on the sidelines of the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference, which brought together government delegations from 45 African countries. Hwang met with the vice president of Botswana and finance ministers from Tanzania, Kenya, Rwanda, Ghana, Egypt, Uganda, Zimbabwe, Lesotho and Sierra Leone on Wednesday and Thursday. The talks covered each country's development needs, potential projects financed through the Economic Development Cooperation Fund (EDCF) and ways to facilitate Korean companies' participation in development projects, according to Korea Eximbank. One of the projects discussed was the construction of an artificial intelligence (AI) and digital technology training institute in Tanzania. The project, approved in August

abc.net.au | 1 days ago

Houthis advance along Yemeni coast, threaten Saudi oil exports in Red Sea

#Export #Iran #oil #R #sea #strike

Iran-aligned Houthis advance along the Yemeni coast as Iranian strikes damage multiple US military aircraft in an escalation on two fronts of the war.

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koreatimes.co.kr | 1 days ago

Exports up 83% in first 10 days of September on chips

#AI #artificial intelligence #Boom #China #Chips #Export #Import #petroleum products #semiconductor #Semiconductors #trade #trade surplus #United States

Korea's exports surged nearly 83 percent year-on-year in the first 10 days of September, customs data showed Friday, driven by robust semiconductor shipments amid the global artificial intelligence (AI) boom. Outbound shipments reached $35 billion in the Sept. 1-10 period, according to the numbers released by the Korea Customs Service. The customs agency said exports reached the highest level for the first 10 days of September on record. Imports rose 20.7 percent year-on-year to $24.6 billion over the cited period, resulting in a trade surplus of $10.4 billion. Semiconductors led the overall gains, soaring 270 percent to $16.5 billion, also setting a fresh high for the period. Outbound shipments of petroleum products jumped 57 percent to $1.87 billion, while automobile exports increased 10 percent to $1.7 billion. Exports of ships and steel products also shot up 66.8 percent and 10.3 percent, respectively, the report showed. By destination, exports to China doubled to $7.95 billion, while those to the United States increased 137.5 percent to $7 billion. The country's total exports from Jan.

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