MEOG - Middle East Oil & Gas
US turns up heat on Iran with fresh sanctions over China oil shipments
The US slapped fresh sanctions on over 20 companies accused of helping funnel billions of dollars' worth of Iranian oil to China, intensifying its “maximum pressure” campaign on Tehran even as nuclear talks with the Islamic Republic inch forward.
Iraq exports 4.5mn barrels of oil to US in one month
Iraq's oil exports to the United States exceeded four million barrels during April, the US Energy Information Administration announced on May 14.
Half of Borsa Istanbul-listed companies post 1Q loss
Excluding banks, 265 out of Turkey’s 521 Borsa Istanbul-listed companies reported a loss in the first quarter of 2025, according to business daily Ekonomim.
Aramco signs MoU with NextDecade and Sempra
State-run Saudi Aramco has agreed to a memorandum of understanding with US LNG producers Sempra and NextDecade.
Iranian petchem giant to invest $200mn in flare gas recovery in Khuzestan oil fields
Iran’s largest petrochemical conglomerate, the Persian Gulf Petrochemical Industries Co. (PGPIC), plans to pour $200mn into a flare gas recovery project in the West Karoun oil region of Khuzestan province, southwest Iran.
Turkish petrochemical company Kimpas sanctioned by US for allegedly trading with Iranian firms
Oxy deepens Oman ties as Muscat dismisses talks of stake sale
Oxy is advancing talks for a significant extension on a block in Oman as Muscat draws a line under speculation it plans to offload prized block.
Posted documents show Eni deliveries of Russian gas to Turkey
Italy’s Eni last year delivered Russian gas to Turkey.
Iran farms out $1.4bn projects to local firms to develop three gas fields
The Iranian Oil Ministry handed over the development of three of its gas fields to four domestic firms under contracts totalling nearly $1.4bn, as the country is struggling to ease its growing energy crunch.
BLOG: Don't be afraid of the great gas glut
We are on the brink of a serious glut in global LNG supply – some will say. Global gas prices are indeed set to fall and the market loosen over the coming years, thanks mainly to the US and Qatar.
IRGC-linked firm on drilling rampage in Iranian oil fields
A subsidiary of Khatam al-Anbiya Construction Headquarters (KAA), the economic arm of Iran’s Islamic Revolutionary Guard Corps, said it was pressing ahead with the drilling of 220 oil wells in the oil-rich province of Khuzestan in the southwest.
Amid oil price challenges, Aramco announces Q1 results
Aramco has reported a fall in Q1 net income, reflecting the turbulence of global energy markets and softer oil prices
Turkey plans daily gas deliveries to Syria
Turkey will soon begin to deliver 6mn cubic metres of natural gas per day to Syria through a new pipeline from the Turkish town of Kilis to Syria’s northern city of Aleppo, Turkish media reported last week.
Iran greenlights $4.3bn gas field development plan
Iran has signed off on a fast-tracked $4.3bn gas field development initiative set to be implemented by Iranian Central Oil Fields Co. (ICOFC) to head off future supply crises and boost the country’s energy security, the CEO of the firm said.
Abrupt cancellation of Central Asia-Gulf states summit sparks questions over Kazakh, Saudi oil tensions
Speculation over tensions between Saudi Arabia and Kazakhstan has been sparked by the abrupt and indefinite postponement of a summit between Central Asian and Gulf states that was scheduled to take place this week in Samarkand, Uzbekistan.
Workers angered by “poverty wages” at Turkish refiner TUPRAS block highway, hold marches at several company sites
Workers at largest Turkish refiner TUPRAS, who have been resisting a signed collective bargaining agreement for weeks, blocked a highway near a refining site in Gebze, southeast of Istanbul, and took part in marches at other company refineries.
Iran backs OPEC+ output policy to shore up market stability
Iran voiced support for the latest decision by OPEC+ to ramp up oil production, reaffirming its commitment to the group’s efforts to stabilise global markets despite mounting uncertainties and a sharp drop in prices.
Iran pips Saudi Arabia and Russia as having world's cheapest gasoline
READ MORE: Iran's petrol now world's cheapest at just $0.018/litre, undercutting Saudi Arabia's $0.62 rate amid growing pressure for subsidy reforms.
Annual oil show in Iran opens amid efforts to spur investment
Iran kicked off its 29th International Oil, Gas, Refining and Petrochemical Exhibition, known as the Iran Oil Show, with the government trying to drum up domestic and foreign capital into its upstream and downstream petroleum sectors.
HALLIGAN: Power struggle in OPEC+ is pulling oil prices down
The oil market has entered choppy waters once again. Crude prices fell by a dramatic 18% in April y/y – the sharpest monthly drop since November 2021 – partly due to a global slowdown, but more due to a power struggle within OPEC+.
Follow us online