Oil prices jumped more than 2% on Oct. 11 after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.
Iran will not succumb to U.S. pressure and will use every possible way to export its oil, Iranian Oil Ministry's website SHANA quoted Oil Minister Bijan Zanganeh as saying on Oct. 6.
Tehran has threatened to block the vital Gulf oil shipping route during its standoff with the United States, after Washington last year withdrew from Iran's 2015 nuclear deal with world powers and reimposed sanctions, including on Tehran's vital oil exports.
The work scopes comprise engineering and fabrication of subsea structures, engineering, transport and installation of spools, the launching of a 16,200 tonne jacket and the float-over of an 18,500 tonne topside.
A who’s who of the global oil industry sketched out a persistent role for fossil fuels on Monday, blocks away from the UN where 66 nations pledged to reach “net zero” carbon emissions by the year 2050.
Saudi Arabia has restored its oil production capacity to 11.3 MMbbl/d after Sept. 14 attacks on oil facilities, three sources briefed on Saudi Aramco's operations told Reuters.