Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Explainer Rubio says Iran ‘lost’ Hormuz. Has it? US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September. Iran
Turkey, Pakistan to deploy forces to Saudi Arabia amid Houthi attacks Turkish, Saudi and Pakistani officials agreed to bolster military cooperation under the Mecca defense pact as Houthi attacks and fighting in Yemen intensify. Turkey
Mideast oil exports surpass prewar levels despite pipeline, ship attacks Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Iran’s grip on Hormuz weakens, what leverage does Tehran have left? By A correspondent in Tehran In Tehran, reporting on politics
Algeria's Sonatrach latest foreign oil major to resume Libya drilling Libya has Africa’s largest proven oil reserves, with approximately 48.4 billion barrels, but political instability had led international energy firms to avoid it for more than a decade. Algeria
Egypt discovers 18 oil, gas wells as Cairo looks to up energy output The discoveries support the government's ambition to increase Egypt's domestic energy supply. Egypt
Bahrain joins Gulf’s late movers in the solar race with 150 MW project If completed on schedule, the Bilaj Al Jazayer solar plant would more than double the kingdom’s total installed renewable capacity, which stood at just 69 MW in 2024. Bahrain
Egypt overtakes Kuwait as MENA’s biggest LNG importer: What to know Last year, the North African country shifted from being a net exporter to a net importer of LNG, due to soaring demand and production declines. Egypt
Analysis Algeria hails new $60B energy plan but price slump threatens reform push The OPEC member recently held its first oil and gas licensing round in a decade, attracting significant international interest and awarding five of six onshore blocks, signaling progress in its energy ambitions despite ongoing challenges. By Samuel Wendel In Washington, DC, reporting on regional business and tech
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. Iran
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%. Iran
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. Turkey
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. Kuwait
Analysis Egypt’s renewable power jumps 34% as country tackles energy crunch After slow growth scaling up clean energy, Egypt’s renewables push may be gaining traction in 2025 as new projects come online in a welcome development for a country that has grappled with a power crunch since 2023. 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? The Gulf state now expects a deficit of $65.3 billion in 2025 — more than double the initial forecast — as the kingdom continues heavy spending amid weak oil prices. Saudi Arabia
Iran rial hits record low 1.13M to dollar as UN snapback sanctions resume: What to know The sanctions, which were trigged by the three European signatories to the nuclear deal, will not hinder Iranian oil exports to China, an official said. Iran
