MEOG - Middle East Oil & Gas

Kuwait pushes ahead on oil expansion with fresh wave of contracts

Kuwait is advancing its ambitious oil sector expansion programme, awarding a raft of new contracts

Iran rejects Gulf Arab states’ ‘exclusive’ claim over disputed gas field

Iran dismissed a Gulf Cooperation Council (GCC) statement backing Kuwait and Saudi Arabia’s exclusive rights to a disputed gas field in the Persian Gulf, warning that “unilateral claims” would only inflame tensions.

Iran’s sovereign wealth fund makes first $300m oil investment

Iran’s National Development Fund (NDF) has channelled $300mn into an oil project, its first such investment, as the government seeks to fast-track a plan to lift crude output by 250,000 barrels per day (bpd).

Kurdistan government pushes for fiscal breakthrough as oil firms resume output

A high-level Kurdish delegation is seeking to break a long-standing impasse over oil exports and revenue sharing

Egypt’s Petromaint wins $121mn Iraqi oilfield maintenance deal, eyes operations in Algeria

Petromaint, a unit of Egypt’s Ministry of Petroleum, has secured a $121mn contract to provide full maintenance services at Iraq’s Zubair oilfield, and is mulling establishing a specialised maintenance and construction services plant in Algeria.

Egypt to build pipeline to handle increased Israeli gas imports

Egypt is reportedly planning to build a new pipeline to accommodate increasing natural gas imports from Israel

Iran reports 127,000-bpd oil output capacity increase

Iran’s Oil Minister Mohsen Paknejad said the country’s crude production capacity had risen by an average of 127,000 barrels per day (bpd) since the government of President Masoud Pezeshkian took office in August last year.

Saudi stock market hits 22-month low as investors turn to safer assets

Saudi Arabia's TASI index hits 22-month low at 10,697 points with 11% annual decline as stagnant corporate earnings and high interest rates drive investors toward safer fixed-income alternatives over equities.

Iraq’s IDC completes two oil wells in East Baghdad and Qayara

The Iraqi Drilling Company (IDC) has announced the successful completion of drilling operations on two oil wells, reinforcing national efforts to expand production capacity and strengthen Iraq’s energy sector

Iran loads giant platform jacket for South Pars Phase 11 to boost gas extraction

Iran has loaded out a massive steel platform jacket for installation at Phase 11 of the South Pars gas field, officials said, in what he called a milestone in the push to ramp up output from the mammoth gas reservoir.

Iran drills 114 oil, gas wells in past year, trims waiting times by 43%

Iran’s state driller has completed 114 oil and gas wells across the country over the past year under President Masoud Pezeshkian’s government, its chief executive said.

Zimbabwe-focused Australian firm Invictus Energy seals deal with Qatar's Al Mansour Holdings

Invictus Energy, which discovered huge natural gas deposits in Zimbabwe in 2023 has signed a binding memorandum of understanding and share subscription deal with a Qatari investment firm, Al Mansour Holdings Group

Turkey’s natural gas imports up 37% y/y in June

Turkey’s natural gas imports rose by 36.9% y/y in June, reaching 3.17bn cubic metres (bcm), the Energy Market Regulatory Authority (EPDK) said on August 27.

Iran touts $10bn investment in remote Makran to make it third petchem hub

Iran is seeking to turn the southeastern Makran coast into its “third petrochemicals hub”, with a senior official pointing to billions of dollars of investment and new capacity to lift output and diversify the sector away from the southwest.

Syria in talks with Gulf Sands on oilfield rehabilitation

Sidara cuts takeover bid for UK's Wood Group

Dubai-based Sidara has cut its takeover proposal for John Wood Group by about 14% to GBP0.30 ($0.40) per share.

Iran's Oil Ministry resumes deals with Babak Zanjani despite unpaid debts

Iranian officials reveal Oil Ministry resumed oil sales to businessman Babak Zanjani despite his unpaid debts, whilst his taxi venture operates without required permits from business guilds.

Iraq raises oil exports in July despite falling crude prices

Iran pushes to launch Goreh-Jask oil pipeline as Jask tanks come online

Iran has taken another step towards fully bringing online its flagship crude export route that bypasses the Strait of Hormuz, with a state firm completing oil storage facilities in the southern province of Bushehr.

Iran presses ahead with South Azadegan oil field push, warns delays mean lost income to Iraq

Iran is speeding up development of its South Azadegan oil field near the Iraqi border, with an official warning that “every day of delay” in full-scale production is tantamount to “losing potential revenues to the neighbouring country.”