Good morning, friends. It’s a relatively calm morning for logistics news in the region, with only Adipec bringing us some fresh agreements from Adnoc that are set to boost LNG exports and chemicals supply chains in the region. Plus: The UAE inked a trade agreement with Australia.

HAPPENING TODAY-

Adipec is on its final day today at Adnec Center in Abu Dhabi. The event — the biggest oil and gas forum in the world — brings together over 40 ministers and over 200 C-suite executives and technology leaders from the Middle East, Asia, Africa, Europe, and the Americas, focusing on innovation and partnerships to advance the energy transition.

WATCH THIS SPACE-

#1- Egypt + Jordan discuss connecting Risha gas field to Arab Gas Pipeline: Egypt’s Oil Minister Karim Badawi and Jordan’s Energy and Mineral Resources Minister Saleh Kharabsheh discussed the feasibility of linking Jordan’s Risha gas field to the Arab Gas Pipeline with a 300 km connection, according to a statement.

#2- KRG ordered to transfer oil production operations over to Iraq’s SOMO: Iraq has ordered the Kurdistan Regional Government (KRG) to transfer its oil production to the State Organization for Marketing of Oil (SOMO) effective immediately, according to a statement. The Iraqi government will compensate the KRG for production and transportation costs at a price that will be determined by an international technical advisor within 60 days of the law coming into effect. It will also offer foreign oil firms operating in the region USD 16 per barrel in compensation.

REMEMBER- Oil exports to Turkey from Iraq’s northern autonomous region of Kurdistan were halted last year after a landmark decision by the International Chamber of Commerce deemed the transfers illegal and ordered Turkey to shell out USD 1.5 bn in damages to Baghdad. Attempts to resume exports failed due to conflicting demands from the parties involved.

#3- Egypt resumes USD access for car importers: The Central Bank of Egypt has instructed banks to begin processing car importers’ requests for USD-denominated letters of credit, ending a six-month halt, two sources familiar with the matter told EnterpriseAM. This policy shift comes as the CBE seeks to lift all remaining USD restrictions, with banks reportedly beginning to reach out to clients on Tuesday.

We had an inkling that this was coming: Earlier this week we heard that the government was loosening restrictions on bank financing for non-essential imports including vehicles, which have seen continued import restrictions. Import backlogs have seen auto sales in Egypt drop in September and August.

#4- MAFI granted a golden license in Egypt: Egypt’s Cabinet approved granting MAFI Agricultural Produce Industries a golden license for its agri-food industrial project in Sadat City, according to a statement. The project, which is expected to begin operations in March 2026 and will see investments of just over USD 180 mn, is expected to produce USD 200 mn worth of agri-food products annually during its first phase, and double that when its second phase is up and running, all of which will be exported.

MARKET WATCH-

#1- Oil prices inched up this morning after a sell-off triggered by the US elections and the prospects of tighter supply from Iran and Venezuela during Donald Trump’s presidency, Reuters reports. Brent crude futures rose 0.35% to USD 75.18 a barrel, while US West Texas Intermediate gained 0.22% to USD 71.85.

#2- Baltic index continues to ease: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — rose 1.6% yesterday to a two-week high after several weeks of falling. The capesize index gained 22 points, while the panamax index lost six points and the smaller supramax shed 18 points.

DATA POINT-

***YOU’RE READING EnterpriseAM Logistics, the essential MENA publication for senior execs who care about the industry that connects producers and retailers to global markets. We’re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.

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CIRCLE YOUR CALENDAR-

Saudi Arabia will host the Saudi Airport Exhibition on Monday, 11 November and Tuesday, 12 November in Riyadh. The two-day exhibition will bring together global industry leaders to discuss the latest technologies around the world in the aviation industry. It looks to encourage discussion between Saudi aviation leaders and the global supply chain industry.

Bahrain will host The Bahrain International Airshow on Wednesday, 13 November and Friday, 15 November near Awali. The three-day event is bringing together over 180 participating companies from over 59 represented nations globally.

Egypt will host the Autotech Exhibition on Sunday, 17 November until Tuesday, 19 November in Cairo. The event will bring together prominent local and international companies to discuss and evaluate the latest developments and trends in the automotive aftermarket and feeder industries.

Check out our full calendar at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.

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