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Middle East

Iran opens new oil export pipeline bypassing Strait of Hormuz | Source: World Oil

Iran started its first transfer of crude oil via its strategic Goreh-Jask pipeline, allowing the country to bypass the Strait of Hormuz. Most of Iran’s energy exports currently pass through the Strait of Hormuz, a narrow shipping channel on the Persian Gulf that was plunged into crisis after former President Donald Trump abandoned the 2015 nuclear deal and reinforced sanctions on Iran’s oil sector and wider economy.

Source: World Oil


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India loses Farzad-B gas field in Iran | SOURCE: NEW INDIAN EXPRESS

ONGC Videsh headquarters in Delhi. (Photo | Facebook\ ONGCVideshLtd)

India lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran awarded a contract for developing the giant gas field to a local company.

SOURCE: NEW INDIAN EXPRESS


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