West cannot solve global energy crisis by bullying and sanctioning nations: Turkey

Ankara called on western nations to stop antagonizing Iran, Venezuela, and Saudi Arabia at a time when a large part of the world has been blocked from purchasing Russian oil and gas

Global finance vs global energy: who will come out on top?

There is more to the current struggle between the oil-consuming west and the oil-producing nations than meets the eye and it runs far deeper than the war in Ukraine

Saudi energy minister warns sanctions could lead to global supply shortage

Saudi Arabia's energy minister also announced that his country would supply Ukraine with liquefied petroleum gas

Saudi Arabia will cut oil supply of nations that impose price cap: Energy Minister

The Saudi official also criticized efforts by US lawmakers to pass the NOPEC bill, which would allow sovereign states to be sued in federal court

In Munich: West sounds alarm over Global South stances

The recent conference on international security policy focused extensively on the significance of the Global South to the west's security. As power competition with China and Russia intensifies, the west is compelled to reassess its approach to relations with these countries.

OPEC+ production cut will remain in place until year’s end: Saudi energy minister

Last year's production cut was taken as an affront by the White House, as for months US officials lobbied threats against the kingdom for allegedly 'siding with Russia'

Russian FM visits Iraq to enhance energy cooperation

The Russian foreign minister and spokesperson of his Iraqi counterpart discussed food security, energy, and exchanged views on the Russia-Ukraine conflict

TotalEnergies, Eni transfer 30 percent stake of Lebanese economic waters to QatarEnergy

Qatar now has a 30 percent stake in Lebanon's economic zone, with TotalEnergies and Eni having a 35 percent stake each

Global South: Gold-backed currencies to replace the US dollar

The adoption of commodity-backed currencies by the Global South could upend the US dollar’s dominance and level the playing field in international trade.

Energy ministers from Qatar and UAE predict long-term need for LNG

The Gulf officials warned that, despite a growing energy crisis exacerbated by western sanctions on Russian fuel, no new LNG supplies are expected to enter the market until 2025

By the numbers: The de-dollarization of global trade

Data suggests that US dollar reserves in central banks are dwindling, as is the influence of the US on the world economy. This presents a unique opportunity for regional currencies and alternative payment systems to enter the vacuum.

UAE’s global trade increased by 19 percent in first 9 months of 2022

The country's foreign trade volume is expected to reach $599 billion by the end of the year

The Global South births a new game-changing payment system    

Challenging the western monetary system, the Eurasia Economic Union is leading the Global South toward a new common payment system to bypass the US Dollar.

UAE will speed up expansion of oil production facilities to meet global demand

The Emirati state-owned oil company will spend $150 billion over the next five years to raise the country's daily oil output by five million barrels

US and UAE sign $100Bln long-term investment deal for clean energy

The UAE says it will soon revise its energy strategy to align it with the goal of achieving climate neutrality by 2050

The EU’s energy security now rests in Turkey’s hands

Europe has sought to bypass Russian gas with disastrous results. Turkey, which has been positioning itself as an energy hub for the past two decades, is set to reap the benefits

Saudi Arabia and China to boost energy cooperation

The decision to bolster energy cooperation between Riyadh and Beijing has been seen by experts as a slight to Washington

Putin receives UAE president in Moscow to discuss energy markets, international issues

Before Sheikh Mohamed bin Zayed al-Nahyan arrived in Moscow, he visited Serbia to discuss mutual cooperation between the two countries

Jordan and Saudi Arabia move closer to signing energy-sharing deal

The project, set to come online in 2025, is expected to make Jordan 'a regional hub for energy exchange'

Aramco CEO slams European energy crisis plan as short-term solution

The CEO highlighted that climate change goals did not need to change but that the world needed a more viable energy plan

Turkey hikes energy costs as inflation soars

The Turkish president’s controversial economic policies have contributed the country’s deteriorating economy

Riyadh and Moscow discuss energy cooperation ahead of upcoming OPEC meeting

The meeting, which comes amid a fuel crisis battering western nations, will set quotas for oil production in hopes of balancing global prices

Putin and MbS discuss energy cooperation days after Biden visit to Saudi Arabia

The US president returned home empty-handed after the Saudi crown prince confirmed he would not increase oil production levels or break with its OPEC+ commitments

Will the Global South break free from dollarized debt?

In his latest book, economist Michael Hudson pits socialism against finance capitalism and tears apart the 'dream civilization' imposed by the 1 percent.

Revenue from Iran’s energy exports up 60 percent despite US sanctions

Trade statistics in Iran have been increasing in various sectors as Iran seeks to improve its economic standing, regardless of the outcome of the Vienna talks

US officials discuss energy, possible normalization with Israel on secret KSA trip

US advisors and Saudi officials reportedly discussed the signing of a potential land deal involving Egypt, Israel, and Saudi Arabia

Saudi Arabia led OPEC+ decision to abandon US-funded energy data: Report

A decision made in late March by OPEC+ to stop using IEA data came as a major move to distance West Asia's energy giants from Washington

Turkey inflation reaches 61 percent amid soaring energy prices

The conflict in Ukraine has caused a surge in global commodity prices, threatening Turkey’s latest economic program which aims to achieve account surplus

Saudi Arabia eschews responsibility for shortages in global oil supply

The warning comes in the wake of airstrikes on Aramco targets by Yemen's Ansarallah forces, in retaliation for a Saudi blockade that has pushed millions to the brink of famine

UAE keen on deepening energy cooperation with Russia: Emirati FM

The declaration comes just one day after the UK prime minister failed to secure a pledge from the UAE and Saudi Arabia to ramp up oil production