Oil and gas

https://www.al-monitor.com/originals/2026/06/will-pashinyans-victory-armenia-be-enough-unlock-peace-turkey-azerbaijan

Explainer

Venezuela’s Delcy Rodriguez meets Erdogan in surprise Turkey visit: What to know

Venezuelan acting President Delcy Rodriguez visited Turkey as part of Caracas' post-Maduro diplomatic outreach, seeking to deepen ties with Ankara in energy, trade and mining despite the continued constraints of remaining US sanctions.

BOUREIMA HAMA/AFP via Getty Images

Algeria begins work on Trans-Saharan gas pipeline to Europe

Algerian state-owned energy giant Sonatrach will build a section of the pipeline and connect it to an existing system in the southwestern Aoulef region that supplies Europe.

AFP via Getty Images

Oman denies disruption at key oil hub after reported drone attack

Oman’s state-owned oil company rebuffed reports about the suspension of oil loading operations at a key port following an alleged drone attack.

Amjad Kurdo / Middle East Images / AFP via Getty Images

Explainer

How Iran war created unexpected economic beneficiaries

The Strait of Hormuz crisis is reshaping global energy and trade flows, creating opportunities for economies far beyond the Middle East.

Latest News

After Gulf attacks, Rubio faces pushback on 'war is over' claim

US Secretary of State Marco Rubio testifies during a House Committee on Foreign Affairs hearing in the Rayburn House Office Building on June 03, 2026, in Washington. The hearing was held to examine the State Department's budget request for fiscal year 2027.

Egypt, Turkey push energy ties in Azerbaijan talks amid Hormuz crisis

A photo of Karim Badawi, Minister of Petroleum and Mineral Resources, speaking at the high-level ministerial session of Baku Energy Week in the Azerbaijani capital.

UAE eyes first multifuel pipeline as Hormuz crisis drags on

Tankers are seen at the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in the Sharjah Emirate, along the Strait of Hormuz, a waterway through which one-fifth of global oil output passes on June 23, 2025.

United Arab Emirates

Oil tumbles as Iran signals Hormuz could open within 30 days

Vessels are anchored off the coast of Sharjah in the United Arab Emirates on May 21, 2026.

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

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.

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal beach of Nasholim, on Aug. 29, 2022.

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.

Aziz Nasirzadeh

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.

Portraits of Iranian military generals and nuclear scientists, killed in Israel's June 13 attack are displayed above a road, as a plume of heavy smoke and fire rise from an oil refinery in southern Tehran, after it was hit in an overnight Israeli strike, on June 15, 2025.

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.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Flags flutter along a bridge as a plume of heavy smoke and fire rise from an oil refinery in southern Tehran, after it was hit in an overnight Israeli strike, on June 15, 2025. Iran fired a fresh barrage of missiles at Israel, state television announced early on June 15, as the rivals exchanged fire for a third day. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

Analysis

With over 85% imported, Turkey braces for energy ripples of Iran-Israel war

Rising oil prices threaten Turkey’s fragile economy amid escalating regional tensions, while energy supply risks grow.

Ezgi Akin

In Ankara, reporting on diplomacy, EU-Turkey ties, NATO

TOPSHOT - Vehicles jam a highway as a fire blazes nearby in the oil depots of Shahran, northwest of Tehran, on June 15, 2025. Israel and Iran exchanged fire on June 14, a day after Israel unleashed an unprecedented aerial bombing campaign that Iran said hit its nuclear facilities, "martyred" top commanders and killed dozens of civilians. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

Exodus, shortages and strikes: Tehran reels under weight of Israel-Iran war

Israeli strikes on Tehran have continued, prompting evacuation warnings, creating fuel and internet disruptions, and adding to the growing number of residents who are fleeing the capital.

TEHRAN, IRAN - JUNE 15: People observe fire and smoke from an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran. Iran's foreign minister said the country would respond "decisively and proportionally" to a wave of attacks that Israel launched beginning in the early hours of June 13. The attacks targeted multiple military, scientific and residential locations, as well as senior government officials. (Photo by Stringer/Getty Images)

Analysis

As Israel-Iran strikes escalate, Russia weighs risks and opportunities

With evacuations underway and investments at risk, the Kremlin still sees a chance to benefit by boosting gas exports and mediating US-Iran talks.

Nikita Smagin

By Nikita Smagin

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal beach of Nasholim, on August 29, 2022.

Israel closes Leviathan gas field after strikes on Iran, cutting supply to Egypt

The shutdown comes after Israel launched a series of air strikes on Iranian military and nuclear sites as well as key nuclear scientists and officials.

An oil tanker unloads imported crude oil at Qingdao port in China's eastern Shandong province on May 9, 2022.

Iran oil exports to China fall sharply amid US sanctions, weakened demand

China is by far Iran’s largest customer for oil, snapping up around 90% of the Islamic Republic’s shipments.

Greece's prime minister Kyriakos Mitsotakis and the President of Egypt Abdel Fattah El-Sisi during the 1st High Cooperation Council between Greece and Egypt at the Maximos Mansion in Athens, Greece on May 7, 2025. (Photo by Dimitris Kapantais / SOOC / SOOC via AFP) (Photo by DIMITRIS KAPANTAIS/SOOC/AFP via Getty Images)

Analysis

Egypt walks tightrope between Turkey thaw and warmer Cyprus, Greece ties

Analysts believe Egypt's rapprochement with Turkey will not affect its long-standing relations with Cyprus and Greece given the mutual benefits they share.

Sara Sherif

Syria electrical poles

Qatari-led consortium signs $7B deal with Syria for 5,000 MW of electricity

Syria’s electricity grid needs extensive expansion after 14 years of civil war.

US Energy Secretary Chris Wright speaks with Al-Monitor president Andrew Parasiliti at an Al-Monitor Global Institute event in Washington, DC, May 22, 2025.

US backs more energy investment in Kurdistan region: Energy secretary

Speaking at the Al-Monitor Global Institute event, US Energy Secretary Chris Wright signaled American support for further investment in Iraqi Kurdistan’s hydrocarbon resources.