• 3 hours U.S. On Track To Unseat Saudi Arabia As No.2 Oil Producer In the World
  • 5 hours Senior Interior Dept. Official Says Florida Still On Trump’s Draft Drilling Plan
  • 7 hours Schlumberger Optimistic In 2018 For Oilfield Services Businesses
  • 9 hours Only 1/3 Of Oil Patch Jobs To Return To Canada After Downturn Ends
  • 12 hours Statoil, YPF Finalize Joint Vaca Muerta Development Deal
  • 14 hours TransCanada Boasts Long-Term Commitments For Keystone XL
  • 15 hours Nigeria Files Suit Against JP Morgan Over Oil Field Sale
  • 22 hours Chinese Oil Ships Found Violating UN Sanctions On North Korea
  • 1 day Oil Slick From Iranian Tanker Explosion Is Now The Size Of Paris
  • 1 day Nigeria Approves Petroleum Industry Bill After 17 Long Years
  • 1 day Venezuelan Output Drops To 28-Year Low In 2017
  • 1 day OPEC Revises Up Non-OPEC Production Estimates For 2018
  • 2 days Iraq Ready To Sign Deal With BP For Kirkuk Fields
  • 2 days Kinder Morgan Delays Trans Mountain Launch Again
  • 2 days Shell Inks Another Solar Deal
  • 2 days API Reports Seventh Large Crude Draw In Seven Weeks
  • 2 days Maduro’s Advisors Recommend Selling Petro At Steep 60% Discount
  • 2 days EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019
  • 2 days IEA: Don’t Expect Much Oil From Arctic National Wildlife Refuge Before 2030
  • 3 days Minister Says Norway Must Prepare For Arctic Oil Race With Russia
  • 3 days Eight Years Late—UK Hinkley Point C To Be In Service By 2025
  • 3 days Sunk Iranian Oil Tanker Leave Behind Two Slicks
  • 3 days Saudi Arabia Shuns UBS, BofA As Aramco IPO Coordinators
  • 3 days WCS-WTI Spread Narrows As Exports-By-Rail Pick Up
  • 3 days Norway Grants Record 75 New Offshore Exploration Leases
  • 3 days China’s Growing Appetite For Renewables
  • 3 days Chevron To Resume Drilling In Kurdistan
  • 4 days India Boosts Oil, Gas Resource Estimate Ahead Of Bidding Round
  • 4 days India’s Reliance Boosts Export Refinery Capacity By 30%
  • 4 days Nigeria Among Worst Performers In Electricity Supply
  • 4 days ELN Attacks Another Colombian Pipeline As Ceasefire Ceases
  • 4 days Shell Buys 43.8% Stake In Silicon Ranch Solar
  • 4 days Saudis To Award Nuclear Power Contracts In December
  • 4 days Shell Approves Its First North Sea Oil Project In Six Years
  • 4 days China Unlikely To Maintain Record Oil Product Exports
  • 5 days Australia Solar Power Additions Hit Record In 2017
  • 5 days Morocco Prepares $4.6B Gas Project Tender
  • 5 days Iranian Oil Tanker Sinks After Second Explosion
  • 7 days Russia To Discuss Possible Exit From OPEC Deal
  • 7 days Iranian Oil Tanker Drifts Into Japanese Waters As Fires Rage On
Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Arab States Extend Deadline For Qatar Ultimatum

oil field middle east

Saudi Arabia, Bahrain, Egypt, and the UAE have given Qatar 48 more hours to submit to a list of demands presented to the emirate ten days ago. The demands included things like closing Al Jazeera TV and other news outlets, cutting off its ties with Iran outside trade, and no more funding extremist organizations – something Qatar has consistently denied.

Qatar’s Foreign Minister said, as quoted by Bloomberg, that the demands were “submitted to be rejected,” although it seems that the four countries that made them expected Doha to quickly surrender. It hasn’t done so, leaning on Iran, Turkey, and other international support for peaceful reconciliation. And of course, further muddying the waters, the UAE is heavily dependent on Qatari gas.

The four countries said in their most recent statement that they expect Qatar to respond to the demands by late Tuesday or early Wednesday, and an answer “will then be sent following the study of the Qatari government's response and assessment of its response to the whole demands.”

There is little to suggest Qatar will change its mind about the steep demands by Wednesday, which will leave the Saudi-Arabia led group with several options, excluding armed escalation, which analysts consider highly unlikely. Related: OPEC’s Crude Exports To The U.S. Near All-Time Lows

According to analysts who spoke to Bloomberg, the most obvious choice would be to leave things as they, are to or tighten the restrictions already in place, making it harder for foreign companies and individuals to do business with Qatar.

Another option on the table is approaching common international partners and asking them to join the embargo. This, however, would not be a very smart choice: Europe, the U.S., or Japan are unlikely to agree to such a request.

Forcing Qatar out of the Gulf Cooperation Council is also a possibility, but not a very likely one unless the group manages to convince Kuwait—which has spearheaded reconciliation efforts—and Oman, which has stayed completely neutral, to vote for the expulsion.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News