The Economist of the Middle East

The Algerian oil and gas agency Sonatrach, on Wednesday, discovered large quantities of crude oil, 151 million barrels in the southwestern state of Adrar. And the company had previously delayed, in May, an agreement with the Chinese Sinopec Petroleum and Chemical Company, and the production of a joint production of oil worth 490 million dollars. Algeria’s national energy company, Sonatrach, …

The decline in imports was accompanied by a boom in energy and commodity sales Russia’s current account surplus has more than tripled since the start of the year from last year, after hitting record levels since the invasion of Ukraine, as lower imports coupled with booming revenues from energy and commodity sales abroad. The current account surplus, the broadest measure …

The Egyptian authorities refused entry to an Indian shipment of wheat that the boat it was carrying had diverted from Turkey to Egypt. The head of the Egyptian Agricultural Quarantine, Ahmed Al-Attar, told Sky News Arabia: “We received a request from a company that owns 55 thousand tons of Indian wheat shipment and wants to enter Egyptian ports after it …