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
Analysis Egypt’s renewable power jumps 34% as country tackles energy crunch By Samuel Wendel In Washington, DC, reporting on regional business and tech
Egypt’s power cuts persist amid heat, declining natural gas production Egypt wants to export more natural gas, including in cooperation with neighboring Israel, but domestic production is declining amid the government’s efforts to reduce consumption. Egypt
From Beijing to Chengdu, UAE’s ENOC establishes first China jet fuel network The Dubai government-owned oil and gas company said the expansion will extend to strategic cities including Beijing, Shanghai, Guangzhou, Shenzhen and Chengdu. United Arab Emirates
Iran inks deal with Pakistan as pipeline project drags The five-year partnership seeks to facilitate and double the current bilateral trade, which has been complicated by US sanctions on doing business with Tehran. Iran
UAE’s ADNOC buys stake in Azerbaijan gas field The move follows a wind and solar energy deal between an Emirati firm and Azerbaijan. Legacy: Gulf
Eni ends 9-year force majeure status for Libyan gas exploration sites Eni is Libya’s largest gas producer and domestic market supplier with an 80% share of national production. Libya
Canadian energy firm to develop major oil field in Turkey’s Kurdish southeast A Canadian firm will help Turkey develop its new oil field in Sirnak province. Turkey
Iran's oil shipments to China triple in 3 years despite sanctions Iran’s strengthening ties to China have prompted some senators to call for more sanctions. Iran
In Gaza, pressure builds on Hamas to solve power crisis amid heat wave Palestinian activists in the Gaza Strip are launching campaigns to pressure Hamas into resolving the power crisis, which has worsened this past month due to a severe heat wave. Palestine
Kuwait to begin drilling in disputed gas field with Iran Kuwait and Saudi Arabia’s dispute with Iran over the Durra gas field is coming amid improved ties between Iran and the Gulf. Legacy: Gulf
UAE joins India's Global Biofuel Alliance on clean energy ahead of COP28 The UAE minister of energy and infrastructure announced Wednesday that his country is a willing participant in the global alliance and has been investing heavily in biofuels. Legacy: Gulf
Saudi oil exports hit new low, dropping by more than one-third In May of this year, Saudi Arabia’s value of oil exports hit a low of just over $19 billion, reported the kingdom’s General Authority for Statistics. This includes both crude and refined products. Saudi Arabia
Dampened China demand driving up Middle East purchases of Russian oil China's appetite for fuel oil has been slowly increasing since the COVID-19 pandemic when the country implemented some of the strictest lockdowns in the world. Legacy: Gulf
