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

COONC

UAE’s ADNOC inks deal with China’s largest offshore producer as US tariffs bite

A third LNG deal has been struck between a Chinese entity and the Abu Dhabi National Oil Company as Beijing scrambles for alternative sources to replace the US supply.

United Arab Emirates

Excess flammable gasses burning from gas flares at the Havana oil field, west of the multi-ethnic northern Iraqi city of Kirku, Oct. 17, 2017.

Analysis

Why low oil prices under Trump are unlikely to curb Middle East output

Prices stood around $100 a barrel in 2022, under the Biden administration, but hovered between $63 and $66 this past week.

In Bristol, reporting on regional business, climate change, AI, tech

Russian President Vladimir Putin meets with Qatar's Emir Sheikh Tamim bin Hamad al-Thani at the Kremlin in Moscow, on April 17, 2025.

Qatar and Russia to up investment by $2B as emir visits Moscow

Cooperation between Qatar and Russia on energy matters is growing, as Doha seeks to mediate between the Kremlin and Ukraine over the war.

Cheng Xin/Getty Images

China's oil imports highest since 2023 amid Iran crude spike: What to know

Data from analytics firm Kpler from April 11 showed that Iran’s exports were up 20% from February and at a five-month high.

TOPSHOT - France's President Emmanuel Macron (R) shares a laugh with Turkey's President Recep Tayyip Erdogan (L) ahead of a round table as part of the European Political Community Summit in Budapest, on November 7, 2024. (Photo by Ludovic MARIN / AFP) (Photo by LUDOVIC MARIN/AFP via Getty Images)

Analysis

France recalibrates Turkey ties as east Med dynamics shift: What to know

After years of strain between France and Turkey, the two countries seem to be seeking rapprochement on regional issues.

Jonathan Fenton-Harvey

By Jonathan Fenton-Harvey

In London, reporting on North Africa and Gulf politics

AFP via Getty Images

Iran oil exports to China soar in March to 1.9M bpd despite US sanctions

The United States and Iran will hold negotiations on the Islamic Republic’s nuclear program on Saturday as Tehran hopes to achieve sanctions relief.

An aerial view of the Cheniere Energy liquefied natural gas plant, on Feb. 10, 2025, in Port Arthur, Texas.

UAE's Mubadala makes first US gas play in wave of Gulf LNG investment

Other Gulf energy majors such as Saudi Aramco and ADNOC have already made significant investments in US LNG.

United Arab Emirates

oil field

After steep fall, oil prices slightly recover following Trump tariff pause

Over the last week, oil prices have plummeted amid the escalating trade war between the United States and China.

Italian energy giant Eni's general director, Claudio Descalzi.

Italy's Eni to invest $26B in Egypt, Libya, Algeria energy projects

Eni is already a leading foreign energy company in the region, with footholds in Algeria, Egypt and Libya.

A trader walks by beneath a stock display board at the Dubai Stock Exchange in the United Arab Emirates, on March 8, 2020. - Saudi's stock exchange fell 6.5 percent and other Gulf markets tumbled to multi-year lows at the start of trading after OPEC and its allies failed to clinch a deal over oil production cuts. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Oil prices fall as Gulf economies grapple with Trump’s tariffs: What to know

Falling oil prices could negatively impact the budgets of Gulf states and are coinciding with losses in the region’s stock markets.

Turkey's Minister of Finance Mehmet Simsek takes part in a panel discussion during the Doha Forum in the Qatari capital on December 7, 2024. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images)

Turkey's Simsek says economy will ride out Trump tariffs without lasting scars

Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop.

Thomas Kronsteiner/Getty Images

OPEC+ members boost output as Trump tariffs bring down oil prices

The US president has been calling on Saudi Arabia and other top oil producers to boost production and bring down prices.