Israel may be considering its energy options after a pipeline bringing gas from Egypt suffered four attacks in the space of five months.
This link provides Israel with 40 per cent of its gas and the most recent explosion, which took place at a monitoring station near the Egyptian town of Al-Arish, was the second incident in as many weeks. Read more
Oil prices jumped above $103 a barrel for Brent crude on Thursday amid the latest violent clashes in Egypt between pro-democracy protestors and supporters of embattled president Hosni Mubarak. Read more
The protests rocking ruling regimes in the Middle East have raised concerns – especially in the energy sector – about whether they will spread to Saudi Arabia, the world’s largest oil exporter. Read more
Much has been made of the nervousness with which Israel is watching events in Egypt. The peace treaty signed between the two countries in 1979 makes the relationship one of the most important regional alliances for Israel in the region, and Israel fears that a revolution could see the Egyptian government fall into the hands of Islamic fundamentalists.
But there is another reason for Israel to be concerned about trouble on the other side of the border. Read more
Egypt may not be among the Middle East’s significant oil producers, but the country’s turmoil has placed upward pressure on oil prices nonetheless. Read more
Speculation about the potential closure of the Suez canal is mounting on Friday, probably the reason that WTI prices are heading higher. Read more
BP marked a return to the deep water today – in Africa.
Seven months after its accident in the deep waters of the Gulf of Mexico, the UK oil group announced it has made a significant discovery in the deepwater West Nile Delta area in Egypt. Read more