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. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
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. By Samuel Wendel In Washington, DC, reporting on regional business and tech
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. Syria
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. Kuwait
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
