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Business
Iraq announces huge oil find near Saudi border as Hormuz crisis bites
Iraq has the fifth largest proven oil reserves in the world, estimated at 145 billion barrels, representing about 17% of total Middle Eastern reserves and around 9% of global reserves, according to the US Energy Information Administration (EIA).
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Europe Today
Hungary's elections, Ukraine's loan — as April nears, tensions boil
Last week, tension reached a breaking point when Hungarian anti-terror police raided a Ukrainian state bank convoy carrying cash and gold. In response, Kyiv accused Budapest of taking its citizens hostage. But hold on, how did we get here?
The Cube
Did the EU bypass Hungary's veto on Ukraine’s €90 billion loan?
On 24 February, the European Parliament announced that it had signed off on a €90 billion loan to support Ukraine. On social media, some users claimed this showed Brussels had overridden Hungary’s opposition to the loan. However, this is only one part of the legislative process.
Europe Today
Watch: 'Friendship' pipeline is tearing Europe apart — but why?
In the 1960s, the Soviet Union built one of the longest oil pipelines in the world to supply Warsaw Pact states. It was called Druzhba, which translates to "friendship." Right now, that friendship pipeline is tearing Europe apart.
Markets
Europe lost out on 3.8mn tonnes of Kazakh oil after Black Sea attacks
Kazakhstan’s oil exports fell after Ukrainian drone attacks and stormy weather hampered operations at the Caspian Pipeline Consortium’s marine terminal in Novorossyisk. Its major oil field Tengiz also suffered an outage in January.
Ukraine
Ukraine's Secret Service reveals strikes on Russian oil infrastructure
Ukraine's Main Intelligence Directorate (HUR) notes that the special operation targeted the Koltsevoye oil pipeline, which supplied resources to the Russian army, and is located just fifty kilometres from the Russian capital, Moscow.
Europe News
Hungary and Slovakia under pressure as US and EU target Russian energy
Hungary and Slovakia will be squeezed by the US and the EU to drop Russian fossil fuels, a sector expert claims. As pressure from Washington grows, Hungary has signed a long-term gas contract with Shell to complement its Russian supplies.
Europe News
Hungary and Slovakia in spat with Ukraine after oil pipeline bombing
In a comment on Sunday, Zelenskyy indicated that the future of the pipeline could depend on Hungary's behaviour. Budapest said Kyiv harms its sovereignty, and Slovakia warned Ukraine might be left without fuel, if the attacks continue.
Pipeline and related facilities transporting oil.