FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: UAE LNG Exports Continue Despite Middle East Strife

By

Liquefied natural gas loading at the UAE's Das Island export terminal are continuing, while an empty tanker owned by Abu Dhabi National Oil was seen in the Persian Gulf on Wednesday, despite renewed tensions in the region, Bloomberg reported Wednesday, citing ship-tracking data and satellite images.

Vessel movements indicate that the Gulf state seeks to maintain shipments even after hostilities intensified, Bloomberg said. On Friday, a tanker was reportedly docked at the terminal, although no nearby vessels were broadcasting their positions during the period.

Carriers are masking their locations for safety. Three other Adnoc-linked LNG vessels, likely set to load shipments from Das island, stopped transmitting signals on July 24 while anchored near the strait's entrance off the UAE's eastern coast, the news agency said.

Adnoc did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Oil & Energy

US Oil Update: Futures Settle Lower as Optimism Builds Over US-Iran Talks

Crude futures settled lower in after-hours trading on Tuesday as growing optimism over renewed peace talks between the US and Iran eased fears of prolonged supply disruptions in the Middle East.Front-month West Texas Intermediate crude futures dropped 2.6% to $80.50 per barrel, while Brent futures retreated 3.9% to $84.93/bbl.Soojin Kim, research analyst at MUFG, said that crude fell as signs of potential US-Iran negotiations eased fears of prolonged supply disruptions.On Tuesday, Iran's Foreign Minister Seyyed Abbas Araghchi hosted separate calls with his Saudi and Omani counterparts to review bilateral and regional issues and stress stronger cooperation and joint diplomacy to restore stability and address US actions in the Strait of Hormuz.Foreign Ministry spokesman Esmail Baghaei said that talks with Oman over safe shipping via the Hormuz have made good progress, but no change has been made in the status of transit through the strategic waterway.Earlier on Monday, Baghaei said on Monday that while "it's possible that mediators share messages from the US side about current developments," no formal negotiations are currently taking place.Meanwhile, President Trump, who reportedly called off US military strikes against Iranian targets after a two-week campaign, said that there were "good talks" underway with Iran but threatened to restart strikes unless negotiations deliver."There's a good chance that something could happen - and if it does, good. If it doesn't, we go back to what we were doing two days ago," Trump told reporters aboard Air Force One on Monday.Gelber & Associates strategists said that after recovering more than $10 from June's lows, crude now appears to be testing support rather than reversing trend, with the next move likely hinging on whether physical fundamentals strengthen enough to justify another push higher.On the supply front, OPEC+ is projected to pause further increases to its oil production quotas after approving a final scheduled hike in September, as the producer group continues to assess the impact of the Iran conflict on global supply, according to multiple media reports.The cartel is set to approve an increase of 188,000 barrels per day for September when it meets virtually on Aug. 2.Commercial shipping traffic through the Hormuz remained constrained as operators continued to avoid the strategic waterway, while renewed Houthi strikes on a Saudi-flagged tanker highlighted growing risks along alternative export routes, the latest maritime data showed on Tuesday.Soojin Kim, research analyst at MUFG, said that while improving diplomatic prospects have reduced the geopolitical risk premium, crude markets remain sensitive to developments in Hormuz, with shipping disruptions and regional security risks continuing to support elevated price volatility.Traffic through the strategic waterway, through which 20% of the world's oil and liquefied natural gas supplies flowed before the conflict, remains restricted, with the US Central Command saying it has redirected 18 comercial vessels, disabled 2, and boarded 2 to ensure full compliance.

Oil & Energy

Nabors Reports Higher Q2 Rig Activity, Expands Saudi Sanad Fleet

Nabors Industries (NBR) reported Q2 earnings Tuesday, averaging 171.2 working rigs during the quarter, up from an average of 158.3 a year earlier, driven by higher activity across the US and international markets.The company increased its average Lower 48 rig count to 67.8 for the quarter ended June 30, up from 62.4 a year earlier. Total US drilling activity rose to an average of 77.8 rigs from 72.4.International drilling averaged 93.4 rigs for the quarter, compared with 85.9 a year earlier.Nabors deployed one newbuild rig through its Sanad joint venture in Saudi Arabia, raising total newbuild deployments to 16. The venture also returned one previously suspended rig to service and plans to deploy three additional newbuild rigs during 2026.The company added five rigs in the Lower 48 during the quarter, including one supporting Quaise Energy's Project Obsidian superhot geothermal development.Two of the additions in the Lower 48 were PACE-X Ultra rigs, while Canrig deployed its first fully automated TITAN rig floor wrench.Nabors expects to average 73 Lower 48 rigs in Q3, up from 67.8 in Q2. The company also forecasts an international average rig count of 94 to 96 rigs in Q3.Nabors reduced its full-year capital spending outlook, revising it to a range between $710 million and $730 million and lowering the midpoint by $25 million.The company also lowered expected Sanad newbuild spending to a range between $325 million and $335 million from the earlier $360 million to $380 million.

$NBR
Oil & Energy

Turkey, Iraq Reportedly Seek Broad Energy Pact After Pipeline Deal Expires

Turkey aims to sign an energy cooperation agreement with Iraq soon after talks with Iraqi Prime Minister Ali al-Zaidi in Ankara, multiple news outlets reported, citing Turkish President Tayyip Erdogan's comments on Tuesday.The development comes even as the two countries did not extend a key pipeline accord that expired this week.Erdogan, speaking at a joint news conference following a signing ceremony, reportedly said Turkey's state-owned oil and gas company TPAO would operate in Iraq's Kirkuk oilfield alongside BP (BP), marking a new phase in bilateral energy ties.The ceremony had reportedly been expected to include an agreement extending the decades-old Kirkuk-Ceyhan crude oil pipeline accord for another year. The agreement, which governs exports through the pipeline, officially expired on Monday without renewal.After the two sides signed three cooperation agreements in other areas, Erdogan said additional accords were expected. However, ministers briefly conferred with him on stage before he and al-Zaidi proceeded directly to their remarks without signing further documents, Reuters reported.Turkish Energy Minister Alparslan Bayraktar later said in a post on X that TPAO had acquired a 15% stake in BP Energy Company of Kirkuk, enabling the Turkish company to operate in the Kirkuk oilfield.Bayraktar said TPAO would work with BPECKL's partners to develop an estimated 3 billion barrels of reserves at the field.BP and the Iraqi and Turkish Ministries of Foreign Affairs did not immediately respond to a request for comment from.

$BP