Oil and gas

Russian Foreign Minister Sergei Lavrov chairs the annual meeting of the Caspian Sea littoral states foreign ministers, known as the Caspian Five, in Moscow, on Dec. 5, 2023.

Iran, Russia, Central Asia states ink Caspian Sea pact, plan naval drills

The navies of Iran, Russia, Azerbaijan and Kazakhstan signed a comprehensive strategic cooperation agreement on Wednesday, aimed at strengthening security in the Caspian Sea basin as the four countries deepen their relations.

A picture taken from a station of Dubai's Palm Monorail, shows traffic on a road in Palm Jumeirah on August 28, 2025.

World Bank ups Middle East 2025 economic outlook as oil, tourism rebound

The lender expects gross domestic product growth in the region to average 2.8% this year, up from its April forecast of 2.6%.

People walk past a branch of Turkish bank HalkBank on Dec. 1, 2017 in Istanbul, Turkey.

Supreme Court clears path for Turkey’s Halkbank trial over Iran sanctions

The Turkish president personally raised the Halkbank case with US President Donald Trump at the White House, as Ankara pushes for a settlement to avoid a drawn-out legal battle.

The sun sets behind overhead power lines as the Kuwaiti Ministry of Electricity requested citizens to ration their electricity usage at peak times due to outages caused by the increased pressure on power stations amid soaring temperatures and heightened energy demand, Kuwait City, Kuwait, June 19, 2024.

Kuwait seeks renewable energy boost as 14 GW power expansion plan takes shape

Kuwait, historically lagging in the Gulf’s energy transition, is moving ahead with plans to expand renewable energy amid efforts to banish power crunches.

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Analysis

Egypt’s renewable power jumps 34% as country tackles energy crunch

wind farm

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

What’s next for Saudi Arabia’s budget balancing act as deficit doubles?

A Riyadh Metro train makes its way along a track in the middle of a road in Riyadh on December 3, 2024.

Iran rial hits record low 1.13M to dollar as UN snapback sanctions resume: What to know

Iranians drive next to a billboard displaying pictures of nuclear scientists, centrifuges and a sentence reading in Farsi, "Science is the power," at the Enqelab Square in Tehran, on Aug. 29, 2025.

Analysis

After $20B deals unravel, will Gulf oil majors scale back abroad?

The headquarters of the UAE's state oil company, ADNOC, Dubai, July 27, 2022.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

COP28 conclusion

COP28: historic deal agreed for world to ‘transition away’ from fossil fuels

The summit stretched into prolonged negotiations over the terminology of the final text, after the “phase out” of fossil fuels was omitted from the draft a day before the scheduled end of the event.

United Arab Emirates

Saudi Arabia's Minister of Investment Khalid Al-Falih speaks on stage during the 2022 Concordia Annual Summit at the Sheraton Hotel, New York, Sept. 19, 2022.

China-Saudi Investment Conference begins in Beijing

China is Saudi Arabia’s largest trading partner and biggest customer of its primary commodity: crude oil.

In this handout image supplied by COP28, Luiz Inácio Lula da Silva (L3), President of the Federative Republic of Brazil and Marina Silva (L2), Minister of the Environment, Joko Widodo (R2), President of the Republic of Indonesia, H.E Razan Al Mubarak (R1), President of the International Union for Conservation of Nature and Climate Change of Brazil and His Excellency Dr. Sultan Al Jaber (R3), COP28 President during the Nature Season at Al Waha Theatre during day two of the high-level segment of the UNFCCC CO

After US, India, UAE, World Economic Forum expects Brazil to enter green coalition

India, the UAE and the United States are part of the First Movers Coalition, a green alliance that Rob van Riet, senior adviser at the WEF's Center for Nature and Climate, told Al-Monitor he hoped Brazil will be the next to join.

United Arab Emirates

Mourners carry the coffins of two Kurdish women killed a day earlier in a reported Turkish drone strike, during their funeral in Amuda, a town in the Hasakah governorate in northeastern Syria, on June 21, 2023.

With world's eyes on Gaza, Turkey attacks Syria's Kurds again

As of the beginning of 2023, at least 32 civilians have died in Turkish attacks in northeast Syria, including seven women and five children, according to local monitoring organizations.

Islamic Revolutionary Guard Corps speedboats cruise past an oil tanker off the port of Bandar Abbas, southern Iran, on July 2, 2012.

Iran says it seized ships in Gulf for alleged fuel smuggling

The seizure and arrest of the foreign crew members occurred south of the disputed Abu Musa island, according to Iranian state media.

High-level segment of the UNFCCC COP28 Climate Conference at Expo City Dubai on Dec. 2, 2023, in Dubai, United Arab Emirates.

Saudi Arabia’s ACWA Power to develop green hydrogen project in Indonesia

Green hydrogen has potential environmental benefits as well as drawbacks and is being pursued by Saudi Arabia, the United Arab Emirates and other Gulf states.

BUENOS AIRES, ARGENTINA - NOVEMBER 30: (L-R) Crown Prince of Saudi Arabia Mohammad bin Salman al-Saud and Russian President Vladimir Putin look on during the opening day of Argentina G20 Leaders' Summit 2018 at Costa Salguero on November 30, 2018 in Buenos Aires, Argentina. (Photo by Amilcar Orfali/Getty Images)

What’s on Putin’s agenda on rare trip to Saudi Arabia, UAE?

The Russian president's trip comes amid heightened tensions in the Middle East, where the Hamas-Israel war has threatened to spill into a wider regional conflict.

Kamala Harris

The COP28 scorecard: US leads methane charge, China to slash emissions

COP28 President Sultan Al Jaber also announced a deal to cut methane emissions from the fossil fuel industry, with ExxonMobil and Saudi Arabia's state-owned oil firm Aramco being among the 50 businesses that signed up.

United Arab Emirates

Police Officers stand in front of the Hofburg Palace, the venue of the 8th OPEC International Seminar, in Vienna, Austria, on July 5, 2023.

Breaking | Last Updated: November 30, 2023, 3:51 pm

Brazil to join OPEC+ as Saudi-led bloc agrees to oil cuts

Saudi Arabia, which leads the alliance of oil producers, has been instituting voluntary production cuts in an effort to keep prices up.

COP27 and COP28 presidents

COP28 opens in UAE amid intense scrutiny over fossil fuel links

A breakthrough was made on the first day of the UN climate summit as world leaders established a loss and damage fund to help developing countries adapt to climate change.

United Arab Emirates

COP28

Interview

IEA calls COP28 'big opportunity' to slash methane emissions

In an interview with Al-Monitor, the International Energy Agency's chief energy economist, Tim Gould, said the climate summit should focus on methane as well as climate finance for the developing world.

Tim Gould

Tim Gould

Chief Energy Economist of the International Energy Agency

Meloni MBS

Italy and Saudi Arabia in talks for major deals as ties grow under Meloni

The government of Italian Prime Minister Giorgia Meloni, which came into power in October 2022, has been working to deepen ties with energy- and cash-rich states in the Middle East and North Africa.