Oil and gas

A man wearing a traditional cloth walks past national flags of Algeria near the Bay of Algiers in Algiers, on Aug. 25, 2022.

Analysis

Algeria hails new $60B energy plan but price slump threatens reform push

The OPEC member recently held its first oil and gas licensing round in a decade, attracting significant international interest and awarding five of six onshore blocks, signaling progress in its energy ambitions despite ongoing challenges.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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.

Latest News

Kuwait seeks renewable energy boost as 14 GW power expansion plan takes shape

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.

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.

Saudi Aramco acquires lubricant giant Valvoline

Aramco has been investing in futuristic technology amid high oil prices and profits.

Price tags are seen on a market shelf of fresh fruit and vegetables on May 05, 2022, in Istanbul, Turkey.

Turkey raises inflation forecasts

The Turkish lira is also again falling close to historically low levels against the US dollar.

Russian President Vladimir Putin speaks as he attends the inauguration ceremony of new gas pipeline, TurkStream.

Turkey, Russia gas ties grow contentious amid Ukraine war

Russian gas giant Gazprom’s sudden “maintenance" shutdown of a major pipeline carrying gas to Turkey coincided with the talks over Finland's and Sweden’s NATO membership bids.

Iranian President Ebrahim Raisi and Russian President Vladimir Putin.

Iran says US dollar officially ditched in trade with ally Russia

The Islamic Republic took the step following the Russian president's meeting with Iran's leader in Tehran, where the two explored options on how to push back on international sanctions.

Prime Minister of the Kurdistan Regional Government Masrour Barzani (R) welcomes Iraqi Prime Minister Mustafa al-Kadhimi, Erbil, Iraqi Kurdistan, Sept. 10, 2020.

Kadhimi, Barzani meet in Baghdad to address oil, budget issues

Masrour Barzani, prime minister of the Kurdistan Regional Government of Iraq, met July 24 with Iraqi officials in Baghdad, including Iraqi Prime Minister Mustafa al-Kadhimi, reportedly discussing the establishment of a new energy government for the Kurdistan Region.

Al-Monitor Staff

By Al-Monitor Staff

A view of the Hamdan al-Qara mosque in southern Amman, equipped with 140 solar panels on its roof.

Jordan increases renewable energy use

Jordan does not have large oil and gas reserves, unlike other countries in the region.

JALAA MAREY/AFP via Getty Images

Hezbollah, Israel tensions heat up over border

US-led mediation over Israel's maritime borders with Lebanon complicated by border tensions with Israel.

United Arab Emirates President Sheikh Mohamed bin Zayed al-Nahyan (R) looks on during a meeting.

Abu Dhabi National Oil Company to work with France’s TotalEnergies on carbon capture

The deal came during UAE President Sheikh Mohammed bin Zayed Al Nahyan’s visit to France, where he strengthened energy relations with the European country. The two countries have grown closer over Libya and energy exploration in the Eastern Mediterranean.

(L-R) Russian President Vladimir Putin, Iranian President Ebrahim Raisi and Turkish President Recep Tayyip Erdogan.

Russia to invest $40 billion in Iran’s oil sector

The news came during Russian President Vladimir Putin’s visit to Iran and may have been motivated by US sanctions.

(L to R) Amos Hochstein, the US senior adviser for Energy Security, speaks with the Saudi Investment Minister Khalid al-Falih.

Venture capital investments in Saudi startups triple to $584 million

Saudi Arabia is proud of its emerging startup scene, but oil remains the bedrock of the Saudi economy.

A general view taken on April 9, 2014, shows the oil terminal of Marsa al-Hariga in Libya.

Explainer: Libya exports oil to Italy after end of shutdown in east

Tribes affiliated with Gen. Khalifa Hifter, who fought the government during the civil war, closed several oil fields due to a dispute with Libya’s state oil company.

US President Joe Biden takes notes while an usher serves coffee during the Jeddah Security and Development Summit (GCC+3) at a hotel in Saudi Arabia's Red Sea coastal city of Jeddah on July 16, 2022.

Breaking | Last Updated: August 22, 2024, 10:46 am

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