Oil and gas

03/04/2021 Asalouyeh, Iran. A view of refinery No. 2 (Phases 2, 3) of the? South Pars Gas-Condensate field in Asalouyeh Seaport, north of the Persian? Gulf in Iran.The South Pars Gas-Condensate field, the world's largest natural gas field, is shared with Qatar (North Dome) (Photo by Saeid Arabzadeh / Middle East Images / Middle East Images via AFP) (Photo by SAEID ARABZADEH/Middle East Images /AFP via Getty Images)

Analysis

New nuclear deal is no silver bullet for Iran's untapped gas reserves

Iran has an estimated 32 trillion cubic meters of natural gas reserves, but it has been unable to exploit them under the weight of international sanctions.

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

Iranians ride their motorbike past a huge banner of former Iran Islamic Revolutionary Guard Corps (IRGC) Quds Force commander Qasem Soleimani ahead of the sixth anniversary of his assassination, in Tehran, Dec. 31, 2025.

Analysis

Why IRGC’s shadow empire is set to endure even as Iran’s economy spirals

With the ability to operate clandestinely, the Islamic Revolutionary Guard Corps wields significant power across Iran's most important sectors — insulating the organization from current economic turmoil, according to experts.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Platform Edith, the largest of Chevron's USA's offshore production platforms, is seen off the southern California coast, on Oct. 6, 2021.

Syria to develop first offshore oil, gas field with US’s Chevron, Qatar’s UCC

In 2013, Russian firm Soyuzneftegaz signed a deal to explore for oil and gas in Syrian waters, but the project was dropped two years later due to the civil war.

YASSER AL-ZAYYAT / AFP via Getty Images

Kuwait to open offshore oil, gas fields to foreign firms: What to know

The Gulf country and OPEC member has made significant oil and gas discoveries since 2023.

Latest News

How US-India trade deal could impact Mideast energy, trade routes

US President Donald Trump shakes hands with Indian Prime Minister Narendra Modi during a joint press conference in the East Room of the White House in Washington, on Feb. 13, 2025.

UAE’s MBZ reportedly cancels Japan visit amid US-Iran standoff: What to know

UAE President Sheikh Mohamed bin Zayed Al Nahyan arrives for a welcoming ceremony prior to talks with the Russian president at the Kremlin in Moscow, on Jan. 29, 2026.

United Arab Emirates

US-Iran tensions fan oil disruption fears as Gulf states confront retaliation risks

A general view of Saudi Aramco's Abqaiq oil processing plant on Sept. 20, 2019.

Oil climbs above $70 a barrel, hitting five-month high on Iran tensions

Old chemical barrels.

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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