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

Media film and photograph the Abdulhamid Han drill ship, the fourth built by Turkey, in Mersin on August 9, 2022 before it leaves for gas exploration to an undisputed area in the Mediterranean Sea, in south of the city of Gazipasa. - Turkey on August 9, 2022 sent its newest drill ship on the first eastern Mediterranean energy exploration mission in nearly two years. The search for natural gas in energy-rich waters around the divided island of Cyprus has turned into an irritant in Turkey's ties with the Euro

Turkey’s energy minister to visit Israel as talks advance on gas transfers to Europe

The Turkish energy minister says his country’s priority is to bring Israeli gas to Turkey.

The launch of a Tracking and Data Relay Satellite from an orbiting spacecraft.

Israel, Azerbaijan announce landmark deal for sale of two satellites

Israel Aerospace Industries and Azeri space agency Azercosmos announced the signing of an agreement for the sale of two Israeli-developed satellites.

Saudi energy minister

Saudi Arabia, Russia to extend voluntary oil cuts to tighten supply

The announcement from the two most powerful members of the OPEC+ group came hours before ministers from the cartel of oil-producing nations were set to meet virtually on Wednesday.

The Tungsten Explorer, a drillship to explore for oil and gas off the coast of Lebanon.

Eni, Qatar Energy, TotalEnergies bid for Lebanon offshore gas exploration fields

The three energy companies, which are already operating in another block in Lebanese waters in the Eastern Mediterranean, submitted their tenders for offshore exploration in blocks 8 and 10.

Visitors and Aramco staff climb a dune at Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in the surrounding Shaybah field in Saudi Arabia's remote Empty quarter desert close to the United Arab Emirates, on May 10, 2016. Despite collapsed global oil prices, production is expanding at Shaybah, as it is in other units of the company at the centre of the kingdom's Vision 2030 drive for diversification away from oil. The Saudi government plans to sell less than five percent of

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.

Visitors stop by the Aramco exhibition at the Misk Global Forum on innovation and technology, Riyadh, November 13, 2019.

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.

This photograph taken on Sept. 21, 2023, shows a view of a hybrid solar power plant, with solar panels on ground and floating, in southwestern France.

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

AMIR MAKAR/AFP via Getty Images

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.

Sultanate of Oman, Muscat, Qurum: the Oil and Gas Exhibition Center.

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.

Al Dhafra Solar Photovoltaic Independent Power Producer project is seen during a visit by the French economy minister, Abu Dhabi, United Arab Emirates, Jan. 31, 2023.

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."

Hochstein

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.

Oil pumpers

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.