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 By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis After $20B deals unravel, will Gulf oil majors scale back abroad? By Samuel Wendel In Washington, DC, reporting on regional business and tech
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
Israel, Cyprus, Greece leaders enhance cooperation on gas infrastructure The leaders of Israel, Greece and Cyprus met in Nicosia to discuss strengthening the trilateral strategic alliance between the countries and exploring options for exporting Israeli natural gas via Cyprus to Europe. Israel
Iran's oil production bounces back as exports to China rise despite sanctions Iran's oil industry was hurt by the reimposition of US sanctions in 2018, but has largely recovered since then, in part due to increased exports to China. Iran
Egypt to drill 35 gas wells by 2025 as BP invests The energy giant pledged $3.5 billion in investment into gas exploration in Egypt over the next three years. Egypt
Saudi Arabia’s foreign reserves shrink by $16B in July amid oil cuts The kingdom’s net foreign assets declined to 1.53 trillion riyals ($407 billion), according to the central bank’s monthly report published on Monday. Saudi Arabia
Turkey, Saudi Arabia ink critical mineral cooperation deal Green energy investments will have an important share in cooperation between Turkey and Saudi Arabia, said the Turkish energy minister. Turkey
Fossil fuel subsidies in Middle East nearly doubled since 2020, says IMF The fund said that fossil fuel companies globally benefited from $13 million in subsidies per minute last year. Legacy: Gulf
Israel to export more gas to Egypt as cooperation grows Israeli-Egyptian cooperation on gas matters has increased significantly in recent years, despite Egyptian criticism of Israeli policy towards the Palestinians. Egypt
Turkey’s FM tackles long-held disputes with Iraq in first official visit Hakan Fidan chose Iraq for his first official visit as Turkey's new foreign minister, but the visit appeared to yield little progress on long-standing disputes between Ankara and Baghdad. Turkey
