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The awarding of lucrative oil and gas contracts to the Islamic Revolutionary Guard Corps (IRGC or Pasdaran) has become a common trend

Sanctions targeting Iran’s energy sector have sparked an exodus of western oil companies, but Tehran is turning to one-time allies Russia and China to rescue a faltering

Angola’s Sonangol has said that Occidental Petroleum and Indonesian state company Pertamina have shown interest in taking a stake in its Qayara and Najmah oilfield

Iran is aiming to become self-sufficient in oil within four years, oil minister Masoud Mir-Kazemi announced during the inaugural ceremony of Morvarid Petrochemical Complex and Pardis Petrochemical

The Middle East project finance market has been boosted by recent deals in Saudi Arabia and the UAE, and the opening of US export credit agency Export-Import Bank in Iraq

While US diplomacy may not be getting very far in Baghdad – vice president Joe Biden’s recent visit did not lead to any breakthrough in negotiations on a new government – former diplomats and officials are doing well in Iraqi Kurdistan, acting as advisers to the Kurdistan Regional Government or its commercial partners

Comments in early July by King Abdullah Bin Abdelaziz that oil production must be halted to leave resources for the next generation has provoked concern across the sector. Some analysts said initial translations of the speech, delivered to Saudis studying in the US,

The outgoing Council of Ministers has approved the establishment of Basra Gas Company, which will implement Royal Dutch Shell’s controversial project to gather, process and market flared gas from a quartet of the country’s largest oil fields. The news gives new hope to a project

Underlining the impact of US-led campaigns on economic life in the Islamic Republic, BP has halted fuel supplies to Iranian airliners landing at any location following fresh US sanctions against the energy sector. Iranian officials had earlier accused the UK, Germany and

Russian energy minister Sergei Shmatko has ruled out reducing energy trade with Iran despite the sanctions imposed by the United Nations, United States and European Union. Speaking in Moscow on 14 July, Shmatko hinted that Russian energy companies could fill the gap created by the withdrawal of many western firms from the Iranian market,

A cluster of new financing facilities has raised well over $10bn, boosting the GCC’s project finance market

Independent oil exploration company Petrel Resources has held on against the odds to bring the Subba and Luhais fields to development, following a major contractual reorganisation with local joint-venture partner Makman Oil & Gas

Dubai-based Topaz Engineering has been awarded a $45m engineering, procurement and construction contract from Sharjah-based Gulf Petrochem.

There is eager speculation about business prospects in Iraqi Kurdistan once a number of key obstacles – including Baghdad’s refusal to pay IOCs for exporting oil or to recognise contracts they have signed with the KRG – are cleared

Iraq’s Ministry of Transportation is liquidating Iraqi Airways, one of the Middle East’s oldest airlines