Latest news with #Abqaiq
Argaam
28-06-2025
- Business
- Argaam
REGA starts real estate registration in Madinah, Eastern Province
The Real Estate General Authority (REGA) announced the launch of comprehensive real estate registration activities for approximately 40,500 properties in 21 neighborhoods in Madinah, and around 7,540 properties in 41 neighborhoods in the Eastern Province. This is in addition to 35 neighborhoods in Abqaiq Governorate and six neighborhoods in Al-Ahsa Governorate. The registration will take place from July 13, 2025 until Oct. 16, 2025. REGA indicated that first-time registration of properties in these areas will be available through the portal: or the service centers. It noted that comprehensive registration requires the property deed to meet all legal requirements for the registration process to be completed.
Bloomberg
23-06-2025
- Business
- Bloomberg
Selling Geopolitical Spikes Is Once Again a Winning Oil Trade
Oil's whiplash spike and retreat on Monday is only the latest example of traders selling into geopolitical risks, showing yet again how there's money to be made by 'fading the rally' in crude. After the Oct. 7 attack on Israel in 2023, the strikes on Saudi Arabia's Abqaiq processing plant in 2019, and the killing of Iranian general Qassem Soleimani in early 2020, crude futures were trading lower than before the incidents within 25 trading days.
Axios
23-06-2025
- Business
- Axios
Oil market's ho-hum response to Iran strike seen as "remarkable"
The modest oil-market response in the wake of U.S. attacks against Iranian nuclear sites over the weekend is striking to at least one analyst. Why it matters: "It's remarkable to have such a limited risk premium in the face of this uncertainty and potential for escalation," oil scholar Ben Cahill of the University of Texas-Austin told Axios via email. Driving the news: There's geopolitical risk premium built into what's a well-supplied market — you can see the initial jump when Israel struck Iran on June 13. But prices are not heading into orbit despite Iran's parliament weekend saber-rattling about closing the Strait of Hormuz. Brent prices rose around 5% when trading opened last night but quickly fell back. Traders don't appear to believe — for now — that the conflict will expand in ways that significantly stymie oil flows in the region. What they're saying: "The market continues to shrug off more geopolitical risk than I would have thought possible a few years ago," Cahill said. "But that's been the story of the oil market since Oct 7, 2023, and arguably since Abqaiq," he said, referring to the 2019 strikes on the vital Saudi crude oil stabilization center. The intrigue: The aftermath of Iranian proxies' strikes on the site offers a lesson, said Ellen Wald, a senior fellow at the Atlantic Council. "[T]raders learned from the Abqaiq attacks that Aramco has incredible reserves of crude oil stored away and the ability to tap into that to ensure the uninterrupted flow of oil." With the Saudis currently holding back considerable output, an oil market disruption would be temporary, she adds. Zoom in: Wald told Axios it would be "incredibly difficult" for Iran to block the strait that handles about a fifth of the global oil trade. Ships can be re-routed away from the Iranian portion of the channel that also includes Omani waters, she notes. Israel and the U.S. have air superiority, so attempted naval action could be deterred from above. "Iran also doesn't want to jeopardize its own oil exports," she said via email. Catch up quick: Iran's parliament yesterday offered a symbolic endorsement of closing the waterway, but any decision would rest with regime leaders. Yes, but: Iran retains capacity to interfere with the strait in ways that prompt shippers to avoid it, RBC Capital Markets' Helima Croft said in a note, though extended closure would be very tough given the U.S. Navy's Fifth Fleet in Bahrain.
Time of India
15-06-2025
- Business
- Time of India
Israel just hit Iran's wallet: Has World War 3 entered the energy stage with attack on Iran's South Pars gas field?
Iran was forced to shut part of its operations at the South Pars gas field after a suspected Israeli drone strike ignited a fire at one of its critical processing units on Saturday. The incident caused the suspension of 12 million cubic metres of gas production. The blaze, which broke out at Phase 14 of the site, was eventually brought under control, according to Iran's oil ministry. This marks Israel's first known strike on Iran's oil and gas infrastructure. Until now, military operations under Operation Rising Lion had focused on Iran's nuclear and defence assets. Saturday's hit signals a shift—economic targets are now in play. 'This is probably the most important attack on oil and gas infrastructure since Abqaiq,' said Jorge Leon of Rystad Energy , referencing the 2019 drone attack on Saudi facilities that rattled global oil markets. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now — krassenstein (@krassenstein) Why South Pars matters The South Pars field lies offshore in Iran's southern Bushehr province. It stretches across the Persian Gulf, where Iran shares it with Qatar. The Qatari portion is known as the North Field and supplies a vast share of the world's liquefied natural gas ( LNG ). Live Events This gas field is vital. It holds nearly half of Iran's gas reserves and accounts for around 66% of its total gas output. Iran, the third-largest gas producer globally after the United States and Russia, produces about 275 billion cubic metres (bcm) of gas annually—6.5% of global supply. Due to heavy international sanctions, most of this output stays within Iran. The country relies on it to keep homes warm, factories running, and its economy breathing. In contrast, Qatar exports 77 million tonnes of LNG annually from the same field, with support from global firms like Shell and ExxonMobil. The strike puts more than just Iranian energy at risk. It sends a warning that other vital installations may be next. Kharg Island, responsible for about 90% of Iran's oil exports, and the Strait of Hormuz, through which 21% of global LNG and around 14 million barrels of crude oil flow daily, are now considered potential targets. — AstorAaron (@AstorAaron) WWIII: Analysts warn of wider consequences Energy experts say this is not just about gas—it's about sending a message. The battlefield has expanded. 'This is probably the most important attack on oil and gas infrastructure since Abqaiq,' said Jorge Leon of Rystad Energy, referring to the 2019 attack that crippled Saudi oil processing for weeks. Others say the strike signals that energy assets are now legitimate wartime targets. 'This is a warning shot that Israel is willing to hit Iranian energy infrastructure if Israeli civilians are targeted,' Richard Bronze, head of geopolitics at Energy Aspects, told The New York Times. The ripple effect could be felt far beyond Iran's borders. South Pars is jointly operated with Qatar, a top global LNG exporter. Disruption in this shared field threatens energy stability in Asia and Europe. Also Read: Has the stealthy F-35 met its match? Iran claims capture of Israeli pilots amid reports of third jet shoot-down Ripple effects for global markets Oil prices surged by as much as 14% on Friday after the first Israeli strikes on Iranian territory, closing 7% higher at $73 (around ₹6,200) per barrel. Analysts expect prices to jump again as markets open on Monday. While South Pars gas is mainly for Iran's domestic use, the symbolism of the strike—and the risk of it spreading—is what's rattling markets. 'This raises the possibility that any further escalation could follow an 'energy-for-energy' logic,' said Ben Hoff, head of commodity research at Societe Generale . 'An attack on one side's oil infrastructure might invite a retaliatory strike on the other's.' Iranian President Masoud Pezeshkian has vowed a strong retaliation, raising concerns that regional hostilities will deepen. As missiles from both sides continue to criss-cross the sky, markets remain volatile and nervous. Also Read: 'This is how World War III begins': As missiles rain on Tel Aviv, analysts say the next strike could drag the world in What's at stake for Iran? Iran's energy system was already strained. The country is in the midst of one of its worst power crises in decades, with rolling blackouts and gas shortages crippling daily life and industry. The Iran Chamber of Commerce has pegged the daily economic loss from outages at nearly $250 million. 'Attacking Iran's energy infrastructure will be a disaster because repairing them will be costly and take time,' said Abdollah Babakhani, an Iranian energy expert based in Germany. Sanctions, ageing equipment, and lack of investment have left the sector fragile. A prolonged disruption could further batter the economy and stoke public unrest. Could the Gulf become a wider war zone? Tehran believes this strike goes beyond battlefield strategy—it is an economic war. 'Iran's Foreign Minister Abbas Araqchi called the Israeli attack on South Pars 'blatant aggression and a very dangerous act',' according to state media. He warned the strike could 'drag the conflict into the Persian Gulf region' and potentially involve the entire region—and beyond. 'Israel's attack would never have happened without the U.S. green light and support,' Araqchi added. He accused Washington of attempting to derail ongoing nuclear talks. 'It is necessary for the United States to condemn Israeli strikes on Iranian nuclear facilities if they want to prove their goodwill.' A blow to Iran's already strained energy sector The attack couldn't have come at a worse time for Iran. The country is in the grip of one of its worst energy crises in decades. Blackouts have become routine. According to the Iran Chamber of Commerce, these outages cost the economy around $250 million per day. Homes and factories face power cuts. Energy rationing is already affecting industry, transport, and public services. Sanctions and outdated infrastructure have made upgrades nearly impossible. Repairs to damaged infrastructure, especially in offshore fields like South Pars, are costly and slow. 'Attacking Iran's energy infrastructure will be a disaster because repairing them will be costly and take time,' said Abdollah Babakhani, an Iranian energy expert based in Germany. Red lines and retaliation Until now, Israel had largely targeted Iranian military and nuclear assets. But this strike changes the game. By hitting the country's energy backbone, Israel is signalling it is willing to go further. Iran's President Masoud Pezeshkian has vowed stronger retaliation. Experts warn that Israel's own energy infrastructure could be next. And any new strikes near chokepoints like Kharg Island or the Strait of Hormuz could ignite a full-blown crisis. These areas are vital arteries for global oil—14 million barrels a day pass through the strait alone. If they're blocked, the world will feel it at the pump. China, sanctions and strategic blowback The geopolitical risk goes beyond Iran and Israel. China, Iran's biggest oil buyer, could see its supplies hit if more infrastructure is damaged. Despite U.S. sanctions, Chinese private refiners continue to import Iranian oil. Some have been blacklisted by the U.S. Treasury. Any large-scale disruption could impact China's energy security—and strain already tense relations with Washington. Meanwhile, some analysts believe OPEC nations like Saudi Arabia may try to balance the market by ramping up output. But that would take time. And prices are already swinging. The Israeli strike on South Pars isn't just a military flashpoint—it's a strike at Iran's economic heart. It pushes a high-stakes regional conflict into energy warfare. Markets are jittery. Gulf nations are watching nervously. And with both sides vowing escalation, there's no clear off-ramp. What started as a targeted conflict now risks boiling over into a broader energy and economic crisis—with consequences far beyond the Middle East.
News18
15-06-2025
- Business
- News18
Iran Denies Israel's Attack On World's Largest Gas Field: Why South Pars Is Key To Global Energy Ops
Last Updated: Iran shares the South Pars gas field with Qatar. Striking it would mark a major escalation in the conflict, which had already pushed oil prices up 9% on Friday Contrary to media reports, Iran oil ministry on Sunday denied Israel's attack on their oil and gas sector, claiming the Isfahan refinery operations continue without disruption. The semi-official Tasnim news agency had on Saturday reported that Iran had partially suspended gas production at the world's biggest gas field after an Israeli strike caused fire at South Pars gas field. Israel launched an air offensive against Iran on Friday, killing commanders and scientists and bombing nuclear sites in a stated bid to stop Tehran building an atomic weapon. Iran shares the South Pars gas field with Qatar. Striking it would mark a major escalation in the conflict, which had already pushed oil prices up 9% on Friday even though Israel spared Iran's oil and gas on the first day of its attacks. Operations at the Isfahan refinery continue without disruption, Iran's oil ministry told state media on Sunday, denying reports of an incident or attack against the facility.— Iran International English (@IranIntl_En) June 15, 2025 The South Pars field is located offshore in Iran's southern Bushehr province and is responsible for the lion's share of gas production in Iran, the world's third largest gas producer after the United States and Russia. The fire broke out in one of the four units of Phase 14 of South Pars, halting production of 12 million cubic metres of gas, Tasnim had said. Iran produces around 275 billion cubic meters (bcm) of gas per year or some 6.5% of global gas output, and consumes it domestically as it cannot export gas due to sanctions. Iran shares the field with Qatar, which calls the field North Field. Qatar produces 77 million tonnes of liquefied gas from the field with the help of global majors such as Exxon and Shell and supplies the gas to Europe and Asia. Israel had so far restricted its strikes to military and nuclear installations. The South Pars gas field attack could change the dynamics. 'This is probably the most important attack on oil and gas infrastructure since Abqaiq," said Jorge Leon, an analyst at Rystad Energy, referencing the 2019 attack on Saudi oil facilities that shook global markets, as per Bloomberg. THE TIMING Israeli strikes have come at a bad timing for Iran, which is grappling with nationwide protests over chronic water and power shortages. Blackouts have cost industries $20 billion annually, worsened by IRGC-linked Bitcoin mining diverting electricity from civilians. Hyperinflation has exceeded 50% for seven consecutive years, with the currency collapsing to 828,500 rials against one USD. Critical shortages of medicine, fuel, and electricity have eroded public trust. Protesters in 155 cities have been chanting 'No Light, No Water, No Future'. Cement prices have surged 200% in three months, and unpaid bread subsidies have triggered baker strikes. IRGC-controlled conglomerates like Setad and Khatam Base dominate over 50% of the GDP. Public anger is fuelled by scandals, including a $3.7 billion fraud by Debsh Tea. Over 50% of voters boycotted recent elections, showing widespread disillusionment. Movements like 'Women, Life, Freedom' from 2022 persist despite crackdowns. WILL KHARG, HORMUZ BE NEXT? There are fears that Israel could attack Iran's main oil export terminal Kharg Island and the Strait of Hormuz, through which 21 per cent of the world's LNG and 14 million barrels of crude oil daily pass. Earlier, there were fears that Iran would block Hormuz supply line. 'This is a warning shot that Israel is willing to hit Iranian energy infrastructure if Israeli civilians are targeted," said Richard Bronze, head of geopolitics at Energy Aspects, as per The NYT. Analysts warn that if the conflict continues to escalate, Qatar's energy operations and Israel's own infrastructure could also become targets. Both countries play critical roles in energy exports, and any attack could create ripple effects across Asia, Europe, and global supply chains. IMPACT ON US, CHINA In the 1970s, Iran accounted for 10 per cent of the world's oil production. However, after the 1979 revolution, the US crippled the Iranian economy by announcing sweeping sanctions on Tehran. The United States tightened sanctions in 2018 after Trump exited a nuclear accord during his first presidential term. Iran's oil exports fell to nearly zero for some months. China is the biggest importer of Iranian oil. It says it does not recognise sanctions against its trade partners. The main buyers of Iranian oil are Chinese private refiners, some of whom have recently been placed in the US Treasury sanctions list. top videos View all If Israel attacks Iran's oil and gas production, it may also impact China, the United States' biggest strategic and economic rival. Analysts, however, say Saudi Arabia and other OPEC members could compensate for the drop of Iranian supply by using their spare capacity to pump more. About the Author News Desk The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk More Get Latest Updates on Movies, Breaking News On India, World, Live Cricket Scores, And Stock Market Updates. Also Download the News18 App to stay updated! tags : Israel Iran tension Location : New Delhi, India, India First Published: June 15, 2025, 14:59 IST News explainers Iran Denies Israel's Attack On World's Largest Gas Field: Why South Pars Is Key To Global Energy Ops
