Oil and gas

Ukraine war drives more traffic to Egypt's Suez Canal, increasing revenues

Although Egypt is being adversely affected by the war in Ukraine, the Suez Canal is benefiting greatly from Western countries sailing into the Gulf in search of oil.

Egypt

Kurdistan officials concerned about PKK, Iran and energy sector

High-ranking officials from the Kurdistan Region of Iraq have voiced concerns over the lack of effective collaboration from Baghdad and risks to security from the presence of the PKK.

Iraqi-Kurdistan

Russian ambassador to Iraq: ‘No objections’ to Kurdistan Region exporting gas to Europe

Elbrus Kutrashev spoke to the Kurdish news outlet Rudaw about plans to export natural gas from the autonomous part of northern Iraq to Europe in response to the war in Ukraine.

Iraq

OPEC+ alliance endorses slight increase in oil production

Saudi Arabia, the UAE and other have largely resisted US calls to boost production but settled on a marginal increase today.

Legacy: Gulf

Bulgaria looks to Turkey for help with gas shortage

Russia has cut gas exports to Bulgaria, leaving Sofia looking to Ankara, which has some tough decisions to make.

Turkey

Israeli cybersecurity firm protects gas transfers between Poland, Lithuania

Waterfall deployed its system to the eastern European countries in response to the war in Ukraine. The move comes at a low point in Israel-Russia relations.

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

IMF: Oil producers better prepared for Ukraine-related economic downturn

The International Monetary Fund’s report also highlighted currency depreciation in Egypt, economic effects of the war in Yemen and Jordan’s fledgling tourism sector.

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

Italy's ENI to tap North African gas for Europe

Europe’s race to reduce its energy dependence on Russia has put the spotlight on Algeria, Egypt and Libya, but their capacity to boost exports in the short term is limited and any significant increase would require large investments and stability.

North Africa

US becomes Turkey's second biggest gas supplier, but for how long?

Turkey's second biggest gas supplier over the past winter was the United States, but Ankara may have to turn back to its neighbors to ensure it has sufficient supplies.

Turkey

Brent crude falls nearly 10%, OPEC basket drops slightly

Saudi Arabia has acted to keep prices high recently against the wishes of the US.

Saudi Arabia

Analysis

The Takeaway: Ukraine war worsens Middle East oil gap 

Sudan’s Burhan accuses UN envoy;  Egypt increases support for Sudan; Libya cracks down on human rights activists; Turkey’s farmers face economic pinch; Islamic State uses dust as cover in Iraq … all in less than 1,200 words! 

By Andrew Parasiliti , Elizabeth Hagedorn

UAE reports slight growth of non-oil GDP

The United Arab Emirates is undergoing economic changes as it aims to reduce its dependency on oil.

United Arab Emirates