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Oil major ExxonMobil has broken its silence over its controversial production-sharing contracts with the Kurdistan Regional Government (KRG), although it did not comment on the resultant tension with Baghdad.

The Council of Ministers (cabinet) has approved a plan to loosen restrictions on expatriate visas in an effort to attract more international investment into the kingdom. The new ‘green card’ permits will be offered without the need for a local sponsor; those granted a new residency permit will be allowed to allocate visas for family members and to own real estate in the country. There will be two types of permit: one offering permanent residency and the other renewable on an annual basis.

In a widely-expected move, the Ministry of Hajj and Umrah announced on 22 June that this year’s Hajj – which is due to start in late July – will be restricted to “a very limited number of pilgrims” due to the risk presented by the coronavirus pandemic. The precise number of devotees who will be allowed to perform the week-long pilgrimage to Mecca and Medina has not been announced, but there have been suggestions the figure may be as low as 1,000 people.

Energy, industry and mineral resources minister Khalid Al-Falih has claimed that “large quantities” of natural gas have been discovered in the Red Sea. However, he did not give any specific details of how much natural gas has been found. Saudi Aramco has natural gas reserves of around 320 tcf and has been pushing to develop its position in the international gas market, not least through potential investments in liquified natural gas projects in the US.

From the evaporation of lakes and rivers to the extinction of rare species in its ravaged forests, the extent of environmental damage in Iran could, if left unchecked, pose a threat to the country arguably greater than that of any external adversary. Problems are particularly severe in urban areas, where vehicle emissions and industrial pollution are causing thousands of deaths from respiratory and heart disease each year. The capital Tehran, where 4.2m cars a day pump exhaust fumes into the haze above the city, bears most of the toll; in 2013, the health ministry said that more than 4,500 residents of the city of almost 9m had died as a result of air pollution that year.

Former boss Sir Fred Goodwin is vilified in the British press, and the UK government effectively controls 68% of its equity, but credit crunch victim Royal Bank of Scotland retains some significant businesses, notably a project finance arm which has acted as advisor to major GCC project sponsors including Qatar Petroleum, Saudi Aramco, Total, ConocoPhillips, ExxonMobil and Occidental Petroleum Corp (Oxy). Rumour has it that, as it refocuses its investment banking operations, a contrite RBS is set to exit project, leveraged and real estate lending.

The Central Tender Committee (CTC) announced on 3 November that a consortium of Kuwait-based Kharafi National (KN) and Turkish conglomerate Limak Holding had submitted the lowest bid – worth KD1.39bn ($4.76bn) – for a contract to build a new terminal at Kuwait International Airport. Other bids ranged up to KD1.7bn; the CTC said they had been referred to the Ministry of Public Works for a final recommendation. The news was a positive step for the terminal project, which was delayed in June after companies bidding for the construction contract pulled out of the tender process.

Saudi Aramco continues efforts to improve the efficiency of its operations ahead of its planned, but slow-moving, stock market listing. On 27 May, it signed an unconventional gas stimulation services contract with US firm Halliburton. This is part of Aramco’s plans to develop unconventional gas resources in the north of the country, South Ghawar and the Rub Al-Khali areas to serve the domestic market and contribute to regional economic development. It will involve major hydraulic fracturing and well intervention operations from Halliburton. Work is due to begin this month.

Efforts to contain the blaze engulfing the Iranian tanker MV Sanchi were continuing as GSN went to press, but just one body had been recovered from a crew of 32 Iranians and Bangladeshis aboard the ship.The Sanchi, which is registered in Panama and operated by National Iranian Tanker Company (NITC), collided with the Hong Kong-flagged CF Crystal at 8pm local time on 6 January, around 160 nautical miles off the coast of China close to Shanghai.

The government has launched a wide-ranging reshuffle of its top energy industry officials, as the Islamic Republic tries to deal with sanctions imposed by the United States. On 18 November, petroleum minister Bijan Zangeneh appointed Masoud Karbasian as National Iranian Oil Company (NIOC) chief executive, with the rank of deputy petroleum minister. Replacing the retiring Ali Kardor, Karbasian was finance minister between August 2017 and August 2018; he is a former head of the Customs Administration.

Ever since five UK citizens were snatched from the Iraqi Ministry of Finance in May 2007 – they continue to be held by Iranian-backed groups – it has been passé to consider a ministry building as secure or Iraqi forces as entirely trustworthy. Nor are Iraqi security forces yet sufficiently polished to meet the rigorous security standards of western executives.

Indonesian energy firm Valco is at the heart of a $1bn investment in two coal-mining firms in a deal that shows Gulf SWFs are still hard at work.

A plan by National Iranian Oil Company (NIOC) to sell up to 1m barrels (bbls) of oil on a domestic exchange flopped on 4 February, when no offers were made for the crude.

Abu Dhabi National Oil Company’s retail fuel arm Adnoc Distribution has set a price range of Dh2.35-2.95 ($0.64-0.80) per share in its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The government is planning to sell between 1.25bn and 2.5bn shares in the business, equating to 10-20% of its share capital. The sale could garner $800m-$2bn for the state. The shares are expected to list on the ADX on 13 December.

While they continue to grapple with the tough economic climate, Iranians who can still afford to travel by air will at least be heartened by the US treasury department’s decision to allow Boeing to sell spare aircraft parts to Iran, and for General Electric (GE) to overhaul old jet engines. But even this apparently simple gesture is complex and shrouded in some mystery.For a start, the waiver only covers equipment sold to Iran before the 1979 revolution. In most countries, these planes and engines would have been retired long ago, but Iran has not been able to buy enough replacements so the need for repairs and spare parts remains.