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. By Samuel Wendel In Washington, DC, reporting on regional business and tech
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. Iran
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%. Iran
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. Turkey
Analysis Egypt’s renewable power jumps 34% as country tackles energy crunch By Samuel Wendel In Washington, DC, reporting on regional business and tech
Oil prices continue to rise as Saudi Arabia and Russia talk production The price of Brent crude continued to increase above its pre-pandemic levels during the OPEC+ meeting Thursday. Legacy: Gulf
How Egypt benefits from gas agreement with Israel Egypt and Israel agreed to establish a pipeline connecting Israel’s offshore Leviathan natural gas field to the liquified natural gas terminal in Egypt, a move that was hailed as a major step toward economic, political and security gains for Cairo. Egypt
Egyptian energy minister on rare visit in Israel Egyptian Petroleum and Mineral Resources Minister Tarek el-Mulla visited Israel yesterday to advance the regional gas forum, meeting with Prime Minister Benjamin Netanyahu, Energy Minister Yuval Steinitz and Foreign Minister Gabi Ashkenazi. Israel
Turkey to purchase fourth drilling ship to expand energy projects Amid maritime boundary disputes in the eastern Mediterranean and after a 2020 gas field discovery the Black Sea, Turkey’s state-owned oil and gas company is finalizing the purchase of a fourth drilling ship to expand its energy development activities. Turkey
Iran demands answers from Indonesia over seized oil tanker Indonesia seized an Iranian fuel tanker on Sunday, accusing the vessel of failing to respond to radio calls and disabling its identification system. Iran
Oil prices at highest since February 2020 following Saudi output cut Oil producers are concerned that the continued COVID-19 pandemic could hurt demand. Legacy: Gulf
Iran to 'urgently resume' gas shipments to Iraq following weeks of cutbacks Tehran has been reducing its gas exports to Baghdad due to unpaid bills, worsening an already critical energy situation. Iraq
Daewoo fulfills Iraq’s Faw Port despite obstacles Iraqi government voted for signing a contract with the Korean company Daewoo to finish Faw Port project. Iraq
Gulf oil exporters cautiously optimistic for 2021 A new COVID-19 strain and the possible return of Iranian crude to global markets could inflict “short-term pains” to Gulf oil producers whose local populations hold on to the oil era. Legacy: Gulf
UAE joins Egypt-led Eastern Med Gas Forum Abu Dhabi announced that it has joined the Eastern Mediterranean Gas Forum based in Cairo, as part of efforts to counter Turkey’s ambitions in the area. Egypt
Gulf oil producers scramble to catch up on renewables The coronavirus pandemic has pushed Gulf leaders to realize the region needs to accelerate its shift toward renewables; environmental activists accuse the Gulf states of double-talk. Legacy: Gulf
