MEOG - Middle East Oil & Gas
Egyptian Gupco crude oil production reaches its highest level since 2019
Egypt’s Gulf of Suez Petroleum Company (GUPCO) has increased its crude oil production to 71,250 barrels per day (bpd) in July, up from approximately 65,000 bpd at the start of the year
Egypt holds talks with global energy majors to secure long-term LNG supplies
Egypt is currently in talks with leading international energy companies to purchase between 15 and 18 shipments of liquefied natural gas (LNG) per month under agreements spanning three to five years
Iraq's al-Zaidi to visit Tehran with offer to host Iran-US talks
Iraqi Prime Minister Ali al-Zaidi is set to visit Tehran late this week with an offer to host direct or indirect talks between Washington and Tehran, in a bid to stop the latest US-Iran confrontation widening into a regional war.
Iran aims to restore more than half of Asaluyeh’s lost gas processing by winter
Iran plans to bring back more than half of the natural gas processing capacity lost in an Israeli air strike on the Asaluyeh energy hub in the next five months, a senior energy official said.
Iraq's T1 oil station to resume operations after two-decade shutdown
Iraq's T1 oil station in the western province of Anbar is ready to resume loading and transporting crude oil by tanker trucks after more than two decades of inactivity.
Indian oil importers cancel Iraqi shipments as US-Iran war re-escalates
Indian oil importers Indian Oil and Mangalore Refinery and Petrochemicals have cancelled planned Iraqi crude loadings as renewed attacks and heightened security risks further disrupt tanker traffic through the Strait of Hormuz.
Qatar Gas Transport Company reports net profit decline for H1 of 2026
Qatar Gas Transport Company reported a marginal y/y decline in net profit of 0.3% to $235.4mn for the first half of 2026, down from $236.1mn the previous year.
ADNOC makes FID on Umm Shaif gas cap development project
UAE national energy company ADNOC has taken a final investment decision on the $6.2bn Umm Shaif gas cap development project.
Two more tankers "mysteriously catch fire" in Hormuz as Iran warns vessels to avoid US guidance
Two oil tankers transiting the Strait of Hormuz were brought to a halt after explosions triggered “extensive fires”, Iran said, the latest maritime incident since fighting between Iran and the United States flared up again.
Iran warns US move to seize Kharg Island would have repercussions
Iran warned that any US attempt to occupying Kharg Island would have consequences, after President Donald Trump said again, he was considering taking control of the country’s main oil export hub in the Persian Gulf.
Iraq's SOMO seeks to buy gasoil cargoes in first tender since 2025
Iraq's State Oil Marketing Organisation (SOMO) has issued a tender to purchase gasoil cargoes for delivery in August and September, marking its first buying tender since January 2025.
First gas sweetening unit overhauled at Iran’s Fajr Jam refinery
Iran has completed the overhaul of the first gas sweetening unit at the state-run Fajr Jam gas refinery in the southern province of Bushehr, the refinery’s chief executive said.
Two tankers explode near Strait of Hormuz, Iranian Guards say
Iran’s Revolutionary Guards said two oil tankers had detonated south of the Strait of Hormuz after trying to sail through Omani waters, incidents indicating that the waterway would remain insecure while US strikes on Iran continued.
Ex-minister Zanganeh acquitted in controversial gas case, Iranian media say
Former Iranian oil minister Bijan Zanganeh has been cleared of all charges by a court in Iran in the long-running Crescent gas contract case, a verdict that faces appeal and could prolong one of the country’s most cont
New well with significant output comes online in Iran’s South Pars
PetroIran Development Co. (PEDCO) completed drilling of a second infill well on the SPD15 platform at the South Pars gas field, with expected production of more than double the average output of other wells at the world’s largest gas reservoir.
Syria-Iraq pipeline revival seeks to restore Mediterranean oil exports
A memorandum of understanding (MoU) between Syria and Iraq to rehabilitate the Haditha-Baniyas oil pipeline has revived plans to restore a strategic export corridor linking Iraqi crude to the Mediterranean.
Iraqi North Oil finalises preparations to resume Kirkuk-Ceyhan crude pumping
Iraq's state-run North Oil Company (NOC) announced on July 18 that it has completed all technical and engineering work required to receive and pump crude oil from Kirkuk through the strategic pipeline to the Turkish port of Ceyhan.
Iraq loses 302mn barrels of crude oil as regional conflicts escalate
Iraq extracted nearly 440.3mn barrels of oil during H1 2026, though production losses reached around 302.8mn barrels compared to normal levels due to regional war disruptions.
Glut of LNG supply pushed back to 2028
Damage to Qatar’s Ras Laffan Industrial Complex and the blocking of the Strait of Hormuz by Iran has delayed the oversupply of LNG to the market.
Iraq activates Hamrin field contract with HKN
Iraq's oil ministry has formally activated a development contract with US-based HKN Energy for the Hamrin oilfield, targeting a plateau of 140,000 barrels per day
Kuwait’s KPC reports damage, injuries from Iranian attacks
Kuwait Petroleum Corporation (KPC) has said that one of its oil facilities was hit on Saturday by “repeated Iranian attacks”, resulting in significant material damage and some injuries
Halliburton wins multi-year Jafurah stimulation deal
Saudi Aramco has awarded Halliburton a multi-year contract for integrated stimulation and completion services across its unconventional gas acreage
OPEC reflects on its superpower era
War‑time disruption, sanctions and the UAE’s exit have exposed the limits of OPEC’s market power, leaving the cartel more constrained, more reactive and less central to price formation
Iran hits targets in three Gulf countries and Jordan as seventh night amid American strikes
Iran struck US military targets in four countries, hitting a fuel pier in Kuwait and an air base in Bahrain, as a seventh night of American strikes on Iran's Gulf coast cut water supplies and destroyed bridges.
ConocoPhillips takes 42% stake in bp’s Kirkuk venture
ConocoPhillips has agreed to acquire a 42% interest in BP Energy Company of Kirkuk Limited (BP ECKL), joining bp in redeveloping four northern Iraqi oilfields
Libya approves development of 195mn-barrel Cyclone Oil Field in Sirte Basin
Libya’s National Oil Corporation (NOC) has declared the commercial viability of the Cyclone Oil discovery in Concession 103 within the Sirte Basin, clearing it for immediate development
Algeria’s energy major Sonatrach signs gas supply deal with Germany’s VNG
Algeria’s state-owned energy major Sonatrach and German energy firm VNG have signed a new natural gas supply agreement to expand gas volumes and secure energy infrastructure ties
OPEC takes aim at the IEA over oil and gas forecasts
OPEC warns that pessimistic demand forecasts and financing restrictions risk deterring oil and gas investment.
Oman-based fertiliser producer inks long-term urea supply deal with India
Oman India Fertiliser Company (OMIFCO) announced on July 16 that its principal trading partner, OQ Trading Limited, has signed a long-term back-to-back agreement with the Government of India for the supply of urea.
Iran’s NIDC logs 1,900 drilling operations in nearly 4 months
The Iranian state driller carried out 1,900 drilling operations during the first 110 days of the current Persian calendar year which began on March 21.
Iraq hands Muthanna seismic work to two Chinese contractors
Iraq’s Oil Exploration Co. (OEC) has awarded back-to-back seismic survey contracts to two Chinese state-linked firms
Turkey to supply natural gas to Northern Cyprus through 100-km subsea pipeline
Turkey and the internationally unrecognised Turkish Republic of Northern Cyprus (TRNC) have signed an agreement to develop a 101-kilometre (63-mile) subsea natural gas pipeline that will boost the de facto state’s energy security and generation.
Iran starts technical, contract talks on Yadman oilfield development near Iraq border
The Iranian state-owned Petroleum Engineering & Development Co. (PEDEC) has begun technical and contractual negotiations for the development of the Yadman oilfield in the southwest near the Iraqi border, the company’s chief executive said.
US attacks tanker bound for Iran’s Kharg Island as blockade takes force
The US military said on July 16 that it had attacked a commercial tanker heading toward Iran’s Kharg Island in the Persian Gulf, in the first publicly announced strike since the United States reinstated a naval blockade targeting Iranian ports.
Petrobangla expects to receive half of QatarEnergy LNG deliveries for 2026
Bangladesh's state-run LNG buyer Petrobangla announced that it expects to receive only half of its contracted 2026 deliveries from QatarEnergy.
Hormuz stays closed until US accepts Iranian rule of the strait, Iran's army says
Iran's army says the Strait of Hormuz will remain closed until Washington accepts Iranian legal authority over the waterway, confirming strikes on shipping and warning Gulf neighbours that hosting US forces will not go unanswered.
Africa's LNG ambitions gather pace amid record global trade, says IGU report
Africa is steadily carving out a more prominent role in the global LNG industry.
Iraq owes Iran $2bn for gas imports as sanctions block payments
Iraq has to pay Iran around $2bn for natural gas imports but is unable to settle the debt because of US sanctions imposed on its neighbour, former spokesman for the Iraqi Ministry of Electricity, said.
Iraq and Turkey plan joint investment fund as Baghdad courts US over energy deals
Iraq plans to establish a joint investment fund with Turkey to finance development projects, Prime Minister Ali Al-Zaidi announced during talks with Turkish Energy Minister Alparslan Bayraktar in Baghdad last week.
Oman urges inclusive Gulf security framework after Iran conflict
Oman's Foreign Minister, Badr Al Busaidi, called on July 14 for a fundamental overhaul of the Gulf's security architecture, arguing that the recent war involving Iran has exposed the shortcomings of decades-old policies centred on containing Tehran.
Oman’s Dhofar Islamic signs financing deal for polymer plant at Sohar
Dhofar Islamic, the Islamic banking window of BankDhofar, announced on July 15 the signing of a financing agreement with Oman’s ZL Group to support the establishment of an acrylamide and polyacrylamide production plant at Sohar Port and Freezone.
Three oil tankers attacked off Oman coast; one dead, three missing
Three oil tankers were targeted in separate attacks off the coast of Oman, leaving one crew member dead, three others missing and several injured, Oman News Agency (ONA) reported on July 14.
How Qatar Investment Authority built $600bn in assets on its natural gas gamble
The Qatar Investment Authority was established in 2005 to convert the country's natural gas revenues into diversified, long-term assets, a structural decision that has since produced one of the world's largest sovereign wealth funds.
Abu Dhabi's ePointZero acquires US mistream company Traverse Midstream Partners for $2.25bn
Abu Dhabi-backed investment company ePointZero Group has completed its $2.25bn acquisition of US midstream company Traverse Midstream Partners.
Trump threatens to strike Iran's bridges and power plants next week
Trump has threatened to knock out Iran's power plants and bridges next week unless Iran negotiates, as fighting between the US and Iran enters a fourth day.
Iran warns of wider disruption to oil, gas export routes after US reinstates naval blockade
Iran’s Islamic Revolutionary Guard Corps (IRGC) warned on July 15 that oil and gas export routes “serving the United States and its allies” could face disruption after the American military reimposed its naval blockade against the country.
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