Oil and gas

US renews sanctions waiver for Iraq to purchase Iranian electricity

The waiver issued on July 11 permits Iraq to pay neighboring Iran for electricity imports without running afoul of US sanctions.

Iraq

Why Gulf economies are doubling down on natural gas exploration

As Gulf states increase gas output, some new capacities will be liquefied and exported to consumer markets, while others will be used domestically to meet increased demand for energy.

By Sebastian Castelier

Analysis

Climate change, overreliance on Israeli gas add to Egypt's power crisis

For a year now, load-shedding linked to falling gas production, rising demand and a shortage of foreign currency has led to scheduled two-hour daily power cuts in most parts of the country. 

By Jack Dutton , Rosaleen Carroll

Kuwait doubles down on Saudi ties driven by economics, counter-Islamism

Kuwait's newly appointed crown prince, Sheikh Sabah Khalid Al Sabah, is expected to advance the already good ties between his country and Saudi Arabia, as the two seek to further their economic prosperity.

Kuwait

Saudi Arabia poised to raise $11.2B in Aramco's second IPO

Aramco had set a price range of its shares between 26.7 and 29.0 riyals ($7.12 and $7.73) but said on Friday it ended up pricing them at 27.25 riyals ($7.27).

Saudi Arabia

OPEC chief defends oil cut phase-out plans despite bearish market

The markets reacted bearishly OPEC+'s Sunday output decision, worrying it could lead to oversupply later in 2024 despite slow demand growth.

United Arab Emirates

Interview

Oman to phase out polluting industries 'too difficult to decarbonize'

Omani Minister of Energy and Minerals Salim Al Aufi told Al-Monitor that if his government finds an industry too difficult or costly to decarbonize, there will be discussions taking place about phasing the sector out all together.

Salim Al Aufi

Oman Minister of Energy and Minerals

Will Saudi Aramco's massive share sale to raise $12B pay off?

Saudi Arabia is selling a 0.64% stake in its state energy company in a bid to offset rising debt and fund its economic diversification plans, but foreign investors remain wary.

By Sebastian Castelier

In Dubai, reporting on regional business

Le Drian says France keen to help Saudi Arabia transition away from oil

France's former top diplomat said that his country was supportive of Saudi Arabia's efforts to diversify its economy.

Saudi Arabia

What's behind Italy's growing Libya engagement as Russia influence expands?

Italy is seeking stronger ties with Libya’s rival groups, though this mission may be hindered by several challenges.

Libya

UAE's ADNOC invests in Mozambique's natural gas in first African foray

The deal will give ADNOC a share of the liquified natural gas output from the concession, which has a combined capacity of over 25 million metric tons per pear, the company said in a statement.

United Arab Emirates

Why UAE’s ADNOC is mulling setting up US trading desk

The UAE state-backed company recently held talks to recruit senior energy traders to oversee the expansion, Reuters reported.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech