Saudi Aramco launches subsidiary for tech ventures
Saudi Arabian Oil Company (Saudi Aramco) has launched its wholly-owned corporate venturing subsidiary Saudi Aramco Energy Ventures LLC (SAEV)
Industry
KSA counters Iran Hormuz threat by reopening Iraq pipeline
Saudi Arabia has reopened an old oil pipeline in order to bypass Gulf shipping lanes after Iran threatened to block the Strait of Hormuz in retaliation to US and European sanctions
South Korea to ban imports of Iranian crude
South Korea has announced it will suspend imports of Iranian crude oil from July 2012 after the European Union confirmed that it would impose sanctions to cut off insurance services for crude shipments from the country
Jordan’s energy imports up 59 per cent this year
Jordan’s imports of electricity, gas and oil derivatives increased by 59 per cent from January to April this year, according to data released by the country’s department of statistics
UAE’s new pipeline to bypass Hormuz now operational
The UAE will begin exporting almost half of its crude oil through the new Habshan-Fujairah pipeline by July 2012, bypassing the Strait of Hormuz for the first time
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