ENERGY ECONOMICS IN ISLAMIC COUNTRIES

Energy plays a central role in the economic development of Islamic countries, many of which possess significant reserves of oil, natural gas, and renewable energy potential. The energy sector not only constitutes a major source of national income but also strongly influences macroeconomic stability, fiscal sustainability, and long-term growth prospects. This article examines the structure and dynamics of energy economics in Islamic countries, focusing on resource endowment, production and consumption patterns, pricing mechanisms, and the challenges of energy transition. Using comparative and analytical methods, the study evaluates the impact of energy dependence on economic diversification and highlights policy approaches aimed at improving energy efficiency and sustainability. The findings suggest that while hydrocarbon resources remain dominant, increasing investment in renewable energy and institutional reforms is essential for achieving balanced and sustainable economic development in Islamic countries. Keywords: Energy economics, Islamic countries, oil and gas, renewable energy, economic development JEL: D02, Й43, Q47; UDC: 620.91:330.101.542