Turkey’s Ministry of Energy has recently announced plans of launching a 1 GW solar tender under the national Yeka (Yenilenebilir Enerji Kaynak Alanları) renewable energy program.

The consortium will collectively acquire a 49% stake in ADNOC Gas Pipeline Assets LLC (ADNOC Gas Pipelines), a newly formed subsidiary of ADNOC with lease rights to 38 pipelines covering a total of 982.3 kilometers, with ADNOC holding the 51% majority stake.

"Saudi Arabian Chevron (SAC) and its partner, Kuwait Gulf Oil Co., continue to prepare its operations at the Wafra field,"

MSCI’s broadest index of Asia Pacific shares outside of Japan rose 0.6% to 516.6 points after earlier going as low as 509.9. Chinese shares regained lost ground too, with the blue-chip index last up 0.3%.

Saudi Arabia exported nearly 11 million barrels of oil per day, a record, and the US about 8.6 million barrels.

Aramco had been looking to restructure the deal after SABIC’s market value fell more than 40% due to an oil price slump.

Iraq pumped 4.213 million b/d of crude oil in May, above its OPEC+ quota of 3.592 million b/d and exported 3.63 million b/d, oil marketer SOMO said on June 7.

Iraq will stick to its quota in June and July and will make further reductions later on

OPEC+ agreed the option of extending the first phase of the production adjustments pertaining in May and June by one further month.

Saudi Arabia's total oil export revenue for Q1 was Riyal 149.95 billion, down from Riyal 192.03 billion for the same quarter the previous year.

Iraq's output was well above its quota of 3.592 million b/d for May and June. as agreed under the historic production cuts of OPEC and its allies, led by Russia.

A delegate-level OPEC+ technical committee, co-chaired by Saudi Arabia and Russia, is scheduled to meet June 5 to discuss market conditions and review compliance.

Iran signed an agreement on exports of electricity to neighboring Iraq, covering 2020 and 2021.

The US in May extended Iraq's sanctions waiver for 120 days to import Iranian electricity,

Israel's government proposed to invest ILS6.5bn (US$1.9bn) to instal of 2 GW of additional solar power capacity.