Oil and gas

Russian Foreign Minister Sergei Lavrov chairs the annual meeting of the Caspian Sea littoral states foreign ministers, known as the Caspian Five, in Moscow, on Dec. 5, 2023.

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.

A picture taken from a station of Dubai's Palm Monorail, shows traffic on a road in Palm Jumeirah on August 28, 2025.

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%.

People walk past a branch of Turkish bank HalkBank on Dec. 1, 2017 in Istanbul, Turkey.

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.

The sun sets behind overhead power lines as the Kuwaiti Ministry of Electricity requested citizens to ration their electricity usage at peak times due to outages caused by the increased pressure on power stations amid soaring temperatures and heightened energy demand, Kuwait City, Kuwait, June 19, 2024.

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.

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Analysis

Egypt’s renewable power jumps 34% as country tackles energy crunch

wind farm

Samuel Wendel

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?

A Riyadh Metro train makes its way along a track in the middle of a road in Riyadh on December 3, 2024.

Iran rial hits record low 1.13M to dollar as UN snapback sanctions resume: What to know

Iranians drive next to a billboard displaying pictures of nuclear scientists, centrifuges and a sentence reading in Farsi, "Science is the power," at the Enqelab Square in Tehran, on Aug. 29, 2025.

Analysis

After $20B deals unravel, will Gulf oil majors scale back abroad?

The headquarters of the UAE's state oil company, ADNOC, Dubai, July 27, 2022.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

An oil tanker unloads imported crude oil at Qingdao port in China's eastern Shandong province on May 9, 2022.

Iran oil exports to China fall sharply amid US sanctions, weakened demand

China is by far Iran’s largest customer for oil, snapping up around 90% of the Islamic Republic’s shipments.

Greece's prime minister Kyriakos Mitsotakis and the President of Egypt Abdel Fattah El-Sisi during the 1st High Cooperation Council between Greece and Egypt at the Maximos Mansion in Athens, Greece on May 7, 2025. (Photo by Dimitris Kapantais / SOOC / SOOC via AFP) (Photo by DIMITRIS KAPANTAIS/SOOC/AFP via Getty Images)

Analysis

Egypt walks tightrope between Turkey thaw and warmer Cyprus, Greece ties

Analysts believe Egypt's rapprochement with Turkey will not affect its long-standing relations with Cyprus and Greece given the mutual benefits they share.

Sara Sherif

Syria electrical poles

Qatari-led consortium signs $7B deal with Syria for 5,000 MW of electricity

Syria’s electricity grid needs extensive expansion after 14 years of civil war.

US Energy Secretary Chris Wright speaks with Al-Monitor president Andrew Parasiliti at an Al-Monitor Global Institute event in Washington, DC, May 22, 2025.

US backs more energy investment in Kurdistan region: Energy secretary

Speaking at the Al-Monitor Global Institute event, US Energy Secretary Chris Wright signaled American support for further investment in Iraqi Kurdistan’s hydrocarbon resources.

BRENDAN SMIALOWSKI/AFP via Getty Images

AI chips, drones, jets: A look at Trump's $3.2 trillion megadeals during Gulf trip

Amid photo ops and lavish receptions, President Donald Trump’s Gulf trip yielded $3.2 trillion in announced deals with Saudi Arabia, Qatar, and the UAE — though some details remain vague.

Turkish President Recep Tayyip Erdogan (front-R) and Iraqi Prime Minister Mohammed Shia al-Sudani (front-L) clap after sponsoring the signing ceremony of memoranda of understanding between Iraq and Turkey, in Ankara on May 8, 2025.

Turkey, Iraq leaders tout cooperation in Ankara, but major disputes persist

The Turkish and Iraqi leaders signed 11 cooperation deals in Ankara, but talks yield no apparent breakthrough on suspended oil exports or electricity flow.

Nodding donkey rig pumping crude oil up from the ground of an oil field in the desert.

Goldman Sachs lowers oil forecast after OPEC+ boosts production: What to know

Saudi Arabia, Russia and other members of OPEC+ announced another major production increase, sending oil prices below $60 a barrel.

Brandon Bell/Getty Images

OPEC+ moves up meeting as oil prices continue to drop: What to know

Saudi Arabia has signaled it is willing to live with lower oil prices as US President Donald Trump calls for more production.

A worker is seen at the Gathering Center 15 (GC 15) oil facility 28 March 2005 in the northern Al-Rawdhatain oilfield, 80 Kms from Kuwait City.

Kuwait renews Shell deal as it seeks to hit 4-million-bpd capacity target

Kuwait, which has one of the lowest costs of production in the world, has lagged behind its regional peers in expanding oil production capacity.

This picture shows a poster depicting King Abdulaziz bin Saud (L), the founder of the modern kingdom of Saudi Arabia, King Salman bin Abdulaziz (C), and Crown Prince Mohammed in Riyadh on April 16, 2023.

China’s Sinopec, Saudi Aramco to establish $4B energy venture: What to know

The joint venture will engage in port operations, crude oil transportation and other activities at the refinery and petrochemical complex in the Gulei Port Economic Development Zone in Zhangzhou, in China's Fujian province.

Demonstrators gather outside the thermal power station in Nasiriyah in Iraq's southern Dhi Qar province to demand the construction of a new station for their region, to allow the province to deal with the chronic power cuts and palliate electricity outage that weight on the daily life, on Sept. 4, 2024.

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Turkey stops electricity sales to Iraq after Baghdad fails to settle $70M+ bill

Turkey halted electricity exports to Iraq over unpaid dues, straining ties as Baghdad faces a summer power crunch and unresolved Kurdish oil disputes.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

Saudi Arabia, UAE, Qatar face uneven 2025 growth as trade tensions rise: IMF

While Gulf economies face only the Trump administration’s baseline 10% tariffs, the levies have already impacted oil prices and revenue, especially for rentier states like Saudi Arabia.