Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Explainer Rubio says Iran ‘lost’ Hormuz. Has it? US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September. Iran
Turkey, Pakistan to deploy forces to Saudi Arabia amid Houthi attacks Turkish, Saudi and Pakistani officials agreed to bolster military cooperation under the Mecca defense pact as Houthi attacks and fighting in Yemen intensify. Turkey
Mideast oil exports surpass prewar levels despite pipeline, ship attacks Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Iran’s grip on Hormuz weakens, what leverage does Tehran have left? By A correspondent in Tehran In Tehran, reporting on politics
Middle East transparency on carbon emissions lags behind rest of world Turkey and the UAE led the pack for most transparent countries in the region regarding greenhouse gas emissions. United Arab Emirates
COP28: historic deal agreed for world to ‘transition away’ from fossil fuels The summit stretched into prolonged negotiations over the terminology of the final text, after the “phase out” of fossil fuels was omitted from the draft a day before the scheduled end of the event. United Arab Emirates
China-Saudi Investment Conference begins in Beijing China is Saudi Arabia’s largest trading partner and biggest customer of its primary commodity: crude oil. Saudi Arabia
After US, India, UAE, World Economic Forum expects Brazil to enter green coalition India, the UAE and the United States are part of the First Movers Coalition, a green alliance that Rob van Riet, senior adviser at the WEF's Center for Nature and Climate, told Al-Monitor he hoped Brazil will be the next to join. United Arab Emirates
With world's eyes on Gaza, Turkey attacks Syria's Kurds again As of the beginning of 2023, at least 32 civilians have died in Turkish attacks in northeast Syria, including seven women and five children, according to local monitoring organizations. Syria
Iran says it seized ships in Gulf for alleged fuel smuggling The seizure and arrest of the foreign crew members occurred south of the disputed Abu Musa island, according to Iranian state media. Iran
Saudi Arabia’s ACWA Power to develop green hydrogen project in Indonesia Green hydrogen has potential environmental benefits as well as drawbacks and is being pursued by Saudi Arabia, the United Arab Emirates and other Gulf states. Legacy: Gulf
What’s on Putin’s agenda on rare trip to Saudi Arabia, UAE? The Russian president's trip comes amid heightened tensions in the Middle East, where the Hamas-Israel war has threatened to spill into a wider regional conflict. Legacy: Gulf
The COP28 scorecard: US leads methane charge, China to slash emissions COP28 President Sultan Al Jaber also announced a deal to cut methane emissions from the fossil fuel industry, with ExxonMobil and Saudi Arabia's state-owned oil firm Aramco being among the 50 businesses that signed up. United Arab Emirates
Brazil to join OPEC+ as Saudi-led bloc agrees to oil cuts Saudi Arabia, which leads the alliance of oil producers, has been instituting voluntary production cuts in an effort to keep prices up. Legacy: Gulf
COP28 opens in UAE amid intense scrutiny over fossil fuel links A breakthrough was made on the first day of the UN climate summit as world leaders established a loss and damage fund to help developing countries adapt to climate change. United Arab Emirates
Interview IEA calls COP28 'big opportunity' to slash methane emissions In an interview with Al-Monitor, the International Energy Agency's chief energy economist, Tim Gould, said the climate summit should focus on methane as well as climate finance for the developing world. Tim Gould Chief Energy Economist of the International Energy Agency
