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. By Ezgi Akin In Ankara, reporting on diplomacy, EU-Turkey ties, NATO
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. Iran
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. By Nikita Smagin
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. Israel
Saudi Arabia projects $21 billion deficit as economy diversifies from oil The kingdom was among the world’s fastest-growing economies last year with almost 9% GDP growth after a petrodollar boom amid a global rise in energy prices due to inflation and the Ukraine war. Saudi Arabia
Saudi Aramco makes first global LNG investment with US MidOcean stake MidOcean Energy is in the midst of buying interests in four LNG projects in Australia as part of its growth strategy. Saudi Arabia
UAE’s Masdar to triple Southeast Asia’s largest floating solar plant The new agreement between Masdar and Indonesian power utility PLN Nusantara Power will launch Phase II of the Cirata floating solar plant in the Indonesian province of West Java. United Arab Emirates
QatarEnergy, BP, others snap up Egyptian oil and gas concessions Four blocks have been awarded one day into international bidding for the exploration of Egypt's 23 open oil and gas blocks. Egypt
Oman's oil and gas sector drives 30% GDP growth in 2022 Oman’s hydrocarbon sector growth rate was 61.6% from 2021 to 2022, compared to non-hydrocarbon sector growth at 16.9% during the same period, according to the Central Bank of Oman (CBO) 2022 Annual Report. Oman
UAE, other Gulf states shift from talk to action on carbon capture tech The idea of capturing and storing carbon emissions instead of letting them enter the atmosphere is gaining momentum in some parts of the Gulf region. It is also the necessary tool to rebrand hydrogen produced from fossil fuels from "gray" to "blue." Legacy: Gulf
Middle East can supply world's clean energy, says Biden's energy envoy Amos J. Hochstein said the key lies in the effective transport of the region’s abundance of wind, sun and minerals to maintain its energy leadership. Legacy: Gulf
China’s Bomesc to build $220M Qatar offshore oil, gas facility for Italy’s Saipem The Tianjin-based engineering, procurement and construction company will build the compression facility for an oil and gas field off the coast of northern Qatar for industrial machine manufacturer Servizi Energia Italia. Qatar
In letter to Biden, Barzani warns of Iraqi Kurdistan's collapse, urges mediation KRG Prime Minister Masrour Barzani's letter to Biden is aimed at jolting the administration into action as tensions rise between Erbil and Baghdad. Iraq
How significant is latest US seizure of illicit Iranian oil shipment? The US government said entities affiliated with Iran's Islamic Revolutionary Guard Corps had sought to smuggle the oil to China. Iran
Shipping company in Greece fined $2.4B for breaching Iran sanctions In an agreement with the US, the illegal oil export was kept secret for almost five months amid fears of retaliation from Tehran. Iran
Oil prices surge as Saudi Arabia, Russia extend 1.3 million barrel cut through December The production cuts by Saudi Arabia, Russia and the OPEC+ alliance have succeeded in keeping oil prices up but have also had some negative effects on the Saudi economy. Legacy: Gulf
