$35B gas deal underscores Egypt’s energy reliance on Israel despite Gaza tensions Israel and Egypt have finalized a $35 billion gas deal that will double Israeli gas exports by 2029, highlighting Cairo’s growing energy dependence on its neighbor, even as political tensions rise over Gaza. Egypt
China's oil imports fall 5.4% as Iranian flows recede from June highs US President Donald Trump has intensified pressure on Iran’s economy, clamping down on its oil sector, a critical component of the state budget. Iran
UAE president heads to Russia to meet Putin as ties grow: What to know UAE President Sheikh Mohammed bin Zayed al-Nahyan is heading to Moscow on Thursday for an official visit, his second in less than a year as Russian-Emirati relations continue to develop rapidly. United Arab Emirates
Iran to close public offices as temperatures pass 105 F: What to know Iranian officials are seeking to reduce public energy consumption as water levels decrease throughout the country and power cuts persist. Iran
Trump admin unveils largest-to-date Iran sanctions on oil 'shipping empire' The sanctions target more than 115 individuals, entities and vessels that the Treasury Department has linked to a network transporting oil from Iran and Russia. Iran
Turkey to begin natural gas exports to Syria on Aug. 2: What to know Turkey will supply gas via a swap deal with Azerbaijan, backed by Qatar financing, the Turkish energy minister said. Turkey
Turkey secures $2.8B green financing for Azerbaijan railway: What to know The 223-kilometer railway will connect to the existing train route that joins Turkey’s northeastern city of Kars and the Georgian and Azerbaijani capitals of Tbilisi and Baku. Turkey
Saudi crude oil exports hit 3-month high as production soars: What to know The increase comes as the kingdom is reeling from negative effects of lower oil prices and production boosts from OPEC+ under US pressure. Saudi Arabia
Why Turkey plans to end its 52-year oil pipeline deal with Iraq The Turkish decree stipulated that the 1973 Turkey-Iraq Crude Oil Pipeline Agreement — along with all amendments to the deal — would be terminated effective July 27, 2026. Turkey
Saudi Arabia's Diriyah awards Chinese firm $1.53B contract: What to know Saudi Arabia’s Diriyah Company has awarded a major contract to China Harbour Engineering Company for the development of a Vision 2030 project. China
Drone strike halts operations at Iraqi Kurdistan oil field: What to know A second drone attack in as many days has suspended operations at an oil facility in Iraqi Kurdistan, with initial investigations pointing to Iran-aligned armed groups. Iraq
Analysis Gulf bets on LNG boom power ahead amid regional energy shifts, war risks Gulf oil powers are emerging as key LNG players, leveraging rising consumer demand to justify strategic global gas investments and to scale up their own LNG production at home. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Saudi PIF reports 60% profit drop as inflation, low oil prices bite The PIF said that the impairments were mainly related to changes in operational plans and increases in budgeted costs. Saudi Arabia
As Iran ceasefire holds, Israel gas fields resume production: What to know Egypt and Jordan are increasingly reliant on Israel for gas despite tensions over Gaza, but the conflict with Iran threatened their imports. Israel
Iran defense chief visits China, first trip after war with Israel: What to know While Iran and China maintain a deepening military and economic partnership, Beijing offered only rhetorical support during Iran’s 12-day war with Israel. China
Analysis Israel-Iran war fuels risks for Mideast economies, energy flows after US strikes The global economic fallout from the Israel-Iran clash has been limited but US strikes are adding to the risk. By Samuel Wendel In Washington, DC, reporting on regional business and tech
![CORRECTION / A picture taken in Riyadh shows the sign in Arabic of an Aramco gas station on the outskirts of the Saudi capital Riyadh on November 5, 2024. Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on November 5, 2024, citing low oil prices. (Photo by Fayez Nureldine / AFP) / "The erroneous mention[s] appearing in the metadata of this photo by Fayez Nureldine has been modified in AFP systems in the following manner: changing the second phrase to refer to Saudi](/sites/default/files/styles/article_header/public/2025-06/GettyImages-2182386773.jpg?h=cf3e9931&itok=KhUT9CNw)
