Oil and gas

A general view shows the Awad oil field in the eastern Qamishli countryside in northeastern Syria, on February 9, 2026. (Photo by Amjad Kurdo / Middle East Images / AFP via Getty Images)

Exclusive

US firm HKN Energy takes over 7 oil fields from Syria's Kurds

HKN Energy has begun operating seven oil fields under a 25-year agreement with Damascus, marking the first major production-sharing deal between Syria's new government and an international oil company.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

Scott Olson/Getty Images

Explainer

US strategic oil stockpile nears four-decade low as Iran war drags on

The US Strategic Petroleum Reserve fell to 349.2 million barrels amid the global energy shock caused by the war in Iran.

A long convoys of Iraqi diesel-laden tanker trucks line up along the highway Tartus-Baniyas highway as they wait to unload their cargo at the Baniyas port refinery on the Mediterranean Sea, on April 15, 2026.

Syria says Iraqi oil shipments surge as Damascus courts foreign energy investment

Speaking at the Atlantic Council Global Energy Forum in Washington on Tuesday, Syrian Petroleum Company CEO Yousef Qiblawy said Iraq's overland oil exports through Syria have expanded rapidly in recent months.

https://www.al-monitor.com/originals/2026/06/will-pashinyans-victory-armenia-be-enough-unlock-peace-turkey-azerbaijan

Explainer

Venezuela’s Delcy Rodriguez meets Erdogan in surprise Turkey visit: What to know

Venezuelan acting President Delcy Rodriguez visited Turkey as part of Caracas' post-Maduro diplomatic outreach, seeking to deepen ties with Ankara in energy, trade and mining despite the continued constraints of remaining US sanctions.

Latest News

Algeria begins work on Trans-Saharan gas pipeline to Europe

BOUREIMA HAMA/AFP via Getty Images

Oman denies disruption at key oil hub after reported drone attack

AFP via Getty Images

Explainer

How Iran war created unexpected economic beneficiaries

Amjad Kurdo / Middle East Images / AFP via Getty Images

After Gulf attacks, Rubio faces pushback on 'war is over' claim

US Secretary of State Marco Rubio testifies during a House Committee on Foreign Affairs hearing in the Rayburn House Office Building on June 03, 2026, in Washington. The hearing was held to examine the State Department's budget request for fiscal year 2027.

AFP via Getty Images

Analysts skeptical new Iran-US arrangement would significantly impact oil market

Tehran has been increasing its output over the last year despite the sanctions on its oil industry.

This picture taken from the sea of Dubai on March 3, 2021 shows the skyline of the Gulf emirate with Burj Khalifa in the centre.

UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip

Israel and the United Arab Emirates led the Middle East and North Africa for the highest FDI inflow — the purchasing of assets in another country — and globally placed 15th and 16th, respectively, according to a UNCTAD report released Wednesday.

United Arab Emirates

Sultan Al Jaber

UAE COP28 president calls on oil firms to 'deliver climate action'

Sultan Ahmed Al Jaber gave a televised address to delegates at the OPEC International Seminar in Vienna, a meeting of oil executives and OPEC ministers.

United Arab Emirates

Israeli Foreign Minister Eli Cohen meets with Greek Foreign Minister Giorgos Gerapetritis, Athens, July 6 2023

Israel’s FM Cohen discusses Iran threat, energy cooperation in Greece

Israel’s Foreign Minister Eli Cohen met Thursday with newly his appointed Greek counterpart Giorgos Gerapetritis.

OPEC Secretary-General Haitham Al Ghais

OPEC on hunt for new members, secretary-general says

The oil cartel currently has 13 members, and 10 more countries form the OPEC+ group.

Screenshot of video captured of M/T Richmond Voyager being approached by an Iranian naval vessel during an attempt to unlawfully seize the commercial tanker in the Gulf of Oman, July 5, 2023.

Shots fired as Iran tries to seize oil tankers in Gulf of Oman, US Navy says

The United States said Iran’s navy opened fire on a commercial tanker while attempting to seize it off the coast of Oman, in the latest tense encounter since Washington has moved to block sanctioned exports of Iranian petroleum.

JOE KLAMAR/AFP via Getty Images

At OPEC, Saudi Arabia defends oil cuts with Russia despite mild market reaction

The kingdom's energy minister called for more industry transparency, despite several news organizations being prohibited from reporting on the OPEC conference he was speaking at.

A picture shows the Iranian South Pars quarter one (SPQ1) gas platform in the Gulf near Qatar's territorial waters on Jan. 26, 2011.

Kuwait rejects Iran's drilling plans in disputed gas field in Gulf

Kuwait and Saudi Arabia have a longstanding dispute with Iran over the Durra gas field. The recent disagreement follows improvement in Iran's relations with both countries.

Saudi Arabia's Minister of Energy Abdulaziz bin Salman looks on during a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting, Vienna, Austria, Oct. 5, 2022.

Saudi Arabia extends oil production cut in attempt to increase prices

Russia also moved to tighten supply, announcing it would reduce oil exports to 500,000 bpd in August.

Oil rig in California

Oil prices reach fourth quarterly decline on fears of economic slowdown

Benchmark Brent crude futures for September were up 82 cents, or 1.1%, at $75.33 a barrel on Friday.

Saudi Arabia Deputy Crown Prince Mohammed bin Salman (2L) and Chinese President Xi Jinping (R).

Top Saudi officials travel to China to attend 'Summer Davos' as ties deepen

The kingdom’s economy minister and other top officials will participate in the so-called Summer Davos as China-Saudi ties continue to gain momentum.

A worker is seen at the Tawke oil refinery near the village of Zacho, in the autonomous Iraqi Kurdistan Region, May 31, 2009.

Analysis

How Iraq’s new budget affects oil arrangement with Kurdistan region

The success of Iraq's largest-ever budget is partially dependent on oil prices, and follows the federal government asserting more control over the Kurdistan Region's oil sector.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change