Cyprus and Egypt signed an agreement Wednesday that paves the way for the supply of gas to the Arab nation via an undersea pipeline that officials hope will create a regional energy hub. The first gas through the new pipeline should reach Egypt sometime between 2020 and 2022. Source: AP/Yahoo
The U.S. Department of Energy (DOE) is offering 11 million barrels of oil for sale from the nation’s Strategic Petroleum Reserve (SPR) ahead of sanctions on Iran that are expected to reduce global supplies of crude. Source: Reuters
Iraq’s state-run Basra Oil Company and Chevron agreed to begin implementing a memorandum of understanding to develop fields in the south of the country. Source: Reuters
Saudi Arabia is seemingly planning to build an oil port in Yemen’s al-Mahra governorate in the country’s southeast, where Saudi and United Arab Emirates’ troops are present. Source: Al Jazeera
