Kazakhstan

Russia

Energy

The board of Russia's Gazprom approved two Kazakhstan-related arrangements tied to long-term processing of gas from Kazakhstan's Karachaganak field at Russia's Orenburg gas processing plant, Interfax reported May 22.

Russia, Kazakhstan: Gazprom Approves Karachaganak Gas Processing Deal

United States

Iran

Israel

Saudi Arabia

Economics

Military & Security

U.S. Secretary of State Marco Rubio said there were "good signs" a deal could be reached with Iran, though he rejected Tehran tolling ships transiting the Strait of Hormuz, the Financial Times reported May 21. 

U.S., Iran: Rubio Suggests 'Good Signs' for Deal, but Sticking Points Remain

U.S.-Iran Relations

Ukraine

A court in Kazakhstan has recognized and allowed enforcement of an arbitration award in favor of Ukrainian state energy firm Naftogaz against Russia's Gazprom, Reuters reported May 21.

Kazakhstan, Russia, Ukraine: Court Ruling Opens Naftogaz's Hunt for Gazprom Assets in Kazakhstan

China

Politics

Chinese President Xi Jinping hosted Russian President Vladimir Putin on May 19-20 in Beijing, Ria Novosti reported.

Russia, China: Putin Visit Shows Deepening Alignment With China, but No Gas Breakthrough Occurs

Middle East and North Africa

India

For the first time since the Iran conflict began in late February, India has developed plans for oil tankers to transit the Strait of Hormuz, load up unknown volumes of energy cargoes, and subsequently return to India under escort by Indian warships currently deployed to the Gulf of Oman and Arabian Sea, Bloomberg reported May 20.

India: New Delhi Plans for Oil Tankers to Transit Hormuz and Load Up on Fuel

Kenya

Kenyan public transport operators suspended a nationwide strike for one week after the government agreed to talks on fuel pricing following a 23.5% rise in diesel prices in May and a 24.2% increase in April, AP reported on May 19.

Kenya: Fuel Strike Suspended After Deadly Nationwide Protests as Government Opens Talks

Japan

South Korea

On the first day of Japanese Prime Minister Sanae Takaichi's May 19-20 summit with South Korean President Lee Jae Myung in Andong, South Korea, the two signed a deal to cooperate on the supply and stockpiling of crude oil, liquefied natural gas and petroleum products, as well as on swap agreements for the same, Reuters reported on May 19.

Japan, South Korea: Leaders Pass Energy Cooperation Deal

Russian President Vladimir Putin will visit China on May 19-20 to discuss expanding bilateral cooperation with Chinese President Xi Jinping, including on the Power of Siberia 2 gas pipeline, Ria Novosti reported on May 18, citing Kremlin aide Yuri Ushakov.

Russia, China: Putin To Discuss Power of Siberia 2 During China Visit

The world is connected, but even the broadest topics deserve an individual look. Below are our latest and most relevant energy analyses.

Below are our latest and most relevant energy analyses.

Sub-Saharan Africa

Americas

Asia-Pacific

Europe

Eurasia

South Asia

The Libyan Civil War

The Fight Against the Islamic State

The Politics of Pipelines

_Energy

Nigeria: Obstacles to Prosperity

The Battle for Mosul

A Crude Recovery

Broken Contracts in the Middle East

Russia's Internal Struggle

East African Integration

Assessments

Cuba

Acting U.S. Attorney General Todd Blanche (center) speaks during a news conference announcing the indictment of former Cuban president Raul Castro, at the Freedom Tower in Miami, Florida, on May 20, 2026.

Recent U.S. escalations against Cuba are creating a pretext for kinetic action, most likely a targeted operation to capture key officials, though an airstrike campaign and/or a ground deployment also remain possible.

Assessing the Potential for U.S. Military Action in Cuba

A view taken on Dec. 13, 2023, shows pumping units at the grounds of a fuel tank farm of Russia's oil pipeline giant Transneft.

Russia-Ukraine Conflict

The intensifying drone strikes are unlikely to trigger an oil sector crisis or alter Moscow's war calculus, but they will financially drain Russian oil companies, even as high prices buoy the Kremlin's revenues.

Assessing the Impact of Ukrainian Strikes on Russia's Oil Sector

Qatar

Part of the gas processing facilities of Europe's first helium production pilot plant in Saint-Parize-le-Chatel, France, on Sept. 11, 2024.

Qatar's halt of helium production due to the Iran war risks causing shortages that disrupt key manufacturing industries, particularly in Asia.

How the Iran War is Choking the World's Helium Flow

Algeria

Spain

Italy

A worker stands on the uploading dock of Cavaou LNG terminal in Fos-sur-Mer, France, on June 22, 2023, while the tanker boat "Lalla Fatma N'Soumer" arrives full of LNG ready to be delivered. 

Amid energy supply disruptions in the Middle East, Algeria's ability to capitalize on increased global prices and demand for energy exports will be constrained by limited spare capacity and bureaucratic obstacles.

Structural Constraints Will Limit Algeria's Ability To Capitalize on Tighter Energy Markets

Brazil

The Geopolitics of Natural Resources

If President Lula wins reelection in October, his administration would continue balancing the promotion of green initiatives with the expansion of mining and drilling, while retaining strategic neutrality in the U.S.-China competition.

The Balance Between Environmental and Extractive Policies in Brazil's Presidential Election, Part 1

An aerial view shows the Kazakh village of Ulken (foreground), where the country's first nuclear power plant is set to be built, on Sept. 22, 2024.

Kazakhstan will seek to balance its reliance on Russia to build its first nuclear plant by partnering with China on subsequent projects and by leveraging new mining laws to extract downstream technology from foreign partners.

Kazakhstan's Strategy to Control Its Nuclear Future Amid Russian Leverage

A Chinese vessel participates in oil exploration.

While China has so far fared well, persistent Strait of Hormuz disruptions would test its oil reserves and drive more defensive policies to secure growth, energy and export competitiveness.

Time Will Test China's Economic Resilience Against Iran War Shocks

Snapshots

United Arab Emirates

The skyline of Dubai is seen on March 11, 2026.

The UAE's exit will enable it to boost production more quickly once shipping through the Strait of Hormuz normalizes, while hindering OPEC's ability to manage the subsequent price drops.

The UAE's Exit From OPEC Further Diminishes the Oil Cartel's Relevance

Vietnam

Employees walk at the construction site of a gas metering station, part of the pipeline link between Bulgaria and Greece near the village of Malko Kadievo, on March 18, 2022. 

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: No U.S.-Iran Breakthrough, EU Ban on Spot Market Russian LNG

A digital illustration shows the euro currency symbol burning with a blue flame inside a gas stove. 

Brussels' strategy prioritizes temporary relief and coordination over broad market intervention, which will likely result in a fragmented response and sustained price volatility.

EU Outlines Energy Relief and Coordination Measures in Response to Iran-Linked Supply Shock

Egypt

The exterior facade of the new headquarters of Egypt's central bank is seen at the New Administrative Capital megaproject about 45 kilometers east of the current capital, Cairo, on Aug. 1, 2023. 

Egypt will try to avoid submitting to another IMF loan program, which would likely require unpopular austerity and privatization measures. But the escalating economic impact of the Iran war may eventually force its hand.

Iran War Fallout Could Force Egypt to Seek Another Unpopular IMF Bailout

Lebanon

Bulgaria

Romania

Chairman of the Joint Chiefs of Staff Gen. Dan Caine speaks as he displays a map showing the U.S. Navy's blockade of the Strait of Hormuz during a press briefing at the Pentagon on April 16, 2026, in Arlington, Virginia. 

The Weekly Rundown: U.S.-Iran Diplomacy, Political Instability in the Balkans

Energy

SITUATION REPORTS

Russia, Kazakhstan: Gazprom Approves Karachaganak Gas Processing Deal

U.S., Iran: Rubio Suggests 'Good Signs' for Deal, but Sticking Points Remain

Kazakhstan, Russia, Ukraine: Court Ruling Opens Naftogaz's Hunt for Gazprom Assets in Kazakhstan

Russia, China: Putin Visit Shows Deepening Alignment With China, but No Gas Breakthrough Occurs

India: New Delhi Plans for Oil Tankers to Transit Hormuz and Load Up on Fuel

Kenya: Fuel Strike Suspended After Deadly Nationwide Protests as Government Opens Talks

Japan, South Korea: Leaders Pass Energy Cooperation Deal

Russia, China: Putin To Discuss Power of Siberia 2 During China Visit

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