Old fields could produce 400,000 barrels of oil per day within a year and there are some large natural gas reserves to exploit, but investment is needed to make the most of the opportunity.
A series of red lines were drawn at a meeting of gas-producing countries in Algiers. Al Majalla looks at what they are, where they came from, and what they may mean for energy markets.
A longstanding dispute between Saudi Arabia and Kuwait on the one hand, and Iran on the other, has been rehashed after Iran states its intention to start drilling in the Durra gas field
In an interview with Al Majalla, the prominent French jurist discusses Israeli and Western duplicity, their violation of international law, and why Israel bears the cost of Gaza's reconstruction
Tehran's elite have few friends, but regional states fear the consequences of a disorderly transition. If Iran's 92 million people turn on one another, it could cause millions to flee abroad.
Going forward, the international community needs to reduce dependence on the US without upsetting the world's largest military and economic power. It will be a shaky tightrope to walk.
Scrapping foreign ownership caps and qualifying criteria will bring in more capital, with markets reacting positively to the latest reforms that build towards a more open country