Petronet LNG discusses early delivery of LNG cargoes from Qatar due to Strait of Hormuz disruptions

The Director of the General Directorate of the Middle East and Africa Department of the Iranian Trade Promotion Organization reported a significant increase in Iran's exports to Turkey. This growth amounted to 59% over the first six months of the current Iranian calendar year (from March 21 to September 21) compared to the same period last year.

Iran's Exports to Turkey Grew by 59% in the First Half of the Year

According to a report prepared by the Public Relations Department of the Iranian Trade Promotion Organization, Abdolamir Rabihavi noted that despite the prevailing conditions in the West Asian region, Iran's trade trend with some countries in this region, including Turkey, remains positive. This trend is evident in the export statistics for the first half of the current year.

Rabihavi commented on trade between Iran and Turkey, stating that during the first six months of 1405, Iran's exports to Turkey showed an increase of 59%. The export volume grew from 2 billion dollars and 756 million dollars to 4 billion dollars and 373 million dollars.

He also mentioned the development of the country's trade routes and borders, noting that in recent months, despite some difficulties in southern waterways, partial restrictions on land routes have been lifted, allowing for increased utilization of land border capacity.

Rabihavi expressed hope that if the positive dynamic of exports to regional countries continues in the second half of the year, Iran will achieve further growth in trade relations with the states of this region.

The Prime Minister of Italy announced the signing of a bilateral plan with Kuwait that allows the country to extend the maximum price cap on gasoline and diesel fuel at Italian gas stations belonging to the oil company Q8.

On Friday, Meloni visited Kuwait for a meeting with the Emir. During this trip, which was prompted by rising fuel prices and the Italian government's efforts to curb them, she met with the Emir in the presence of the Crown Prince and the Prime Minister. In her social media account X, Giorgia Meloni wrote that the meeting was dedicated to deepening bilateral cooperation with special attention to investments, energy, infrastructure, and defense.

The head of state confirmed that during the negotiations, Kuwait's desire to extend the maximum price cap set by Q8 on gasoline and diesel fuel became evident. The goal is to contain energy costs and protect families and businesses.

This meeting took place after the Kuwait Petroleum Corporation (KPC), a Kuwaiti group owning Q8 gas stations, joined the initiative to limit fuel prices in Italy at Meloni's request at the end of September.

Through the Q8 brand, KPC operates over 2,900 gas stations on roads and highways across the country. This initiative sets the maximum price at 1.99 euros per liter of gasoline and 2.19 euros per liter of diesel fuel.

The state energy company Eni is also participating in this initiative and announced on Friday the extension of this measure until the end of the year. Inflation and the sharp rise in fuel prices in recent months, also caused by the crisis in the Strait of Hormuz, are causing serious concern for the Meloni government, as this occurs in the last year of her legislative term before the 2027 elections.

During the meeting in Kuwait, the parties also discussed regional issues, specifically 'the security of sea lanes and strengthening relations between the European Union and the Gulf Cooperation Council'. Furthermore, an Action Plan was signed, which defines the strategic priorities and development lines of bilateral cooperation for the period 2027–2030.