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
Saudi Arabia warns of ‘oil spot’ near aging tanker off Yemen's coast UN officials have described the FSO Safer, an aging vessel that contains 1.14 million barrels of light crude oil, as a ticking time bomb. Saudi Arabia
Iran reportedly loading Venezuelan oil for sale abroad Bloomberg reported that an Iranian ship reached the South American country last week. The United States is trying to stop fuel transfers between the two countries. Iran
East-Med Gas Forum evolves as Israel, Egypt enhance cooperation Israel’s Energy Minister Yuval Steinitz and six others sign the charter of the Eastern Mediterranean Gas Forum, which brings cooperation with other partners into a second, concrete phase. Palestine
Egypt announces record-high crude oil production for first time in decades Egypt’s Ministry of Petroleum has recently announced the achievement of a record number in producing crude oil, exceeding 65,000 barrels per day, for the first time since 1957. Egypt
OPEC+ pressures Iraq, UAE to further cut oil production Saudi Arabia and other OPEC members held a virtual meeting with Russia and other allied oil producers today to discuss the continuing low price of oil amid the COVID-19 pandemic. Saudi Arabia
Iranian fuel tankers reported off coast of South Africa The tankers are reportedly bringing oil to Venezuela and may be taking the longer African route to avoid US forces following a seizure in August. Iran
Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean At a time when tensions are on the rise in the eastern Mediterranean, Egypt and Cyprus are intensifying talks to start building an offshore gas pipeline from the Aphrodite gas field to Cairo in preparation for re-export to Europe. Egypt
Russia enters EastMed fray, offers to mediate with Turkey As Turkey bemoans its loneliness in a bitter row with Greece over energy exploration in the Mediterranean Sea, Moscow says it is ready to step in to mediate talks. Turkey
Owners of Iranian fuel seized by US raise challenge in court The US Justice Department says the companies challenging the fuel seizure are fronts for Iran's Islamic Revolutionary Guard Corps. Iran
US government seizes control of websites allegedly involved in Iran-Venezuela oil deal The seizure follows the US interception of fuel tankers from Iran en route to Venezuela this month amid increased US pressure on both countries. United States
Turkey plans new naval drills in eastern Mediterranean The Turkish navy will hold live-fire exercises in the eastern Mediterranean next week amid rising tensions with Greece. Turkey
How Mediterranean standoff complicates Turkey's natural gas agenda Too many factors — especially tensions with Greece — are at play to determine whether recent gas discovery in the Black Sea will translate into massive commercial and political gains for Ankara. Turkey
