Analysis New nuclear deal is no silver bullet for Iran's untapped gas reserves Iran has an estimated 32 trillion cubic meters of natural gas reserves, but it has been unable to exploit them under the weight of international sanctions. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis Why IRGC’s shadow empire is set to endure even as Iran’s economy spirals With the ability to operate clandestinely, the Islamic Revolutionary Guard Corps wields significant power across Iran's most important sectors — insulating the organization from current economic turmoil, according to experts. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Syria to develop first offshore oil, gas field with US’s Chevron, Qatar’s UCC In 2013, Russian firm Soyuzneftegaz signed a deal to explore for oil and gas in Syrian waters, but the project was dropped two years later due to the civil war. Syria
Kuwait to open offshore oil, gas fields to foreign firms: What to know The Gulf country and OPEC member has made significant oil and gas discoveries since 2023. Kuwait
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
