MEOG - Middle East Oil & Gas
Ganope targets $250mn investment to expand upstream activities in Southern Egypt
The South Valley Egyptian Petroleum Holding Company (Ganope) plans to deploy $250mn in capital expenditures over the next five years to increase crude production and expand upstream exploration across its concession areas
Meleiha gas facility to start operations in Egypt’s Western Desert in September
Egypt’s Ministry of Petroleum and Mineral Resources announced that the Meleiha gas plant in the Western Desert will come online in September 2026, with an initial capacity of around 100mn cubic feet of natural gas per day
Libya declares state of emergency in Zawiya after drone strikes
Libya's state-run National Oil Corporation (NOC) declared a state of maximum emergency in the northwestern city of Zawiya after a fuel storage tank collapsed
Iraq advances plans to develop Ajil field gas production
Iraq's Oil Ministry has stressed the importance of optimising gas investment at the Ajil oil field as part of plans to develop oil fields, increase crude production and expand the use of associated gas.
ADNOC Logistics and Services posts record profit for Q2
ADNOC Logistics and Services posted a record Q2 net profit of $951mn, up 303% y/y, the company confirmed in its earnings report.
Libya's NOC warns drone attacks could force shutdown of Zawiya refinery
Libya's National Oil Corporation (NOC) has warned that continued drone attacks on energy installations in Zawiya could force it to declare force majeure and completely halt operations at the country's largest functioning refinery.
Iraq plans new oil pipeline routes to Fishkhabur and Baniyas
Iraq's Oil Ministry said on August 10 it plans to establish a new pipeline network with two routes to Fishkhabur and Baniyas, as part of efforts to develop oil transport infrastructure and diversify crude export outlets.
Oman steps up efforts to contain oil slick off Dhofar coast
Oman has stepped up efforts to contain an oil spill from the grounded vessel Caroline Bezengi off the Hallaniyat Islands in Dhofar, the Oman Daily Observer reported on August 10.
Iran’s NISOC targets 39,000 bpd output rise from downhole pumps by March 2027
The National Iranian South Oil Co. (NISOC), Iran’s largest crude producer, installed 13 downhole pumps in the first four months of the Persian calendar year to July 22, raising output by 15,800 barrels per day (bpd), its chief executive said.
Iran yet to start developing three western oilfields 18 months after project launched
More than 18 months after Iran broke ground on the development of three small oilfields in the country’s west, the projects have yet to enter the operational phase.
South Pars rebuild races Iranian winter
Working against the clock before the cold season sets in, Iran is racing to restore 230mcm per day of gas capacity lost to strikes on South Pars refineries
Excelerate Energy begins dredging work on Iraq’s first LNG import terminal
US LNG developer Excelerate Energy has begun dredging work on its floating storage and regasification unit for Iraq.
Houthis strike Saudi Aramco facility, causing fire
A fire at a Saudi Aramco facility in the Red Sea coastal city of Jizan was extinguished, the Saudi Ministry of Energy confirmed in a statement on X, with no casualties reported.
New electric downhole pump triples oil output at Iran’s Sepehr-Jofeir fields
Iran has installed its first electric submersible pump (ESP) in the Jofeir 9 well at the country’s twin Sepehr and Jofeir oilfields, more than tripling oil production from the well.
KRG and Pearl clash over Khor Mor gas to Kirkuk
The KRG has accused Khor Mor gas field operators of breaching contract by unilaterally routing supplies to federal Iraq
Oil transit fees owed to Turkey by Iraqi Kurdistan have vanished in Jersey, says MP
“This is called international robbery,” remarks opposition lawmaker, claiming documents show $229mn has evaporated on island.
Egypt targets 100mn cubic feet daily gas boost in October through 5 new wells
The Egyptian government plans to add around 100mn cubic feet of natural gas per day (mcf/d) to its production grid in October 2026 by linking five new onshore and offshore wells, requiring investments of $95mn.
Israel's Ratio Petroleum leads race to acquire Paros Energy with new offer
Israel-listed Ratio Petroleum has raised its acquisition offer for London-listed Paros Energy by 20.5% to approximately $200mn, leading the race against British rival Serika Energy.
ADNOC Logistics & Services acquires 11 gas and crude tankers
ADNOC Logistics & Services announced that it has acquired 11 gas and crude oil tankers for $1.3bn, in a move meant to support ADNOC's growing production, trading and export operations.
ExxonMobil and QatarEnergy advance plans to route Cyprus gas through Egyptian infrastructure
Plans to route offshore gas discoveries in Cyprus through Egyptian infrastructure are entering their operational phase following talks among Egypt’s Ministry of Petroleum and Mineral Resources, ExxonMobil and QatarEnergy.
Iraq tops regional oil deals in July following major US energy accords
Iraq secured the top position for the largest oil transactions signed in the Arab region in July 2026, leading a regional energy investment drive that included major deals in Oman and Qatar.
Oman's Asyad Shipping takes delivery of new MR tanker, names sister vessel in China
Marking the latest expansion of its product tanker fleet, Oman's Asyad Shipping has taken delivery of Manah, the first of two new-build medium-range (MR) IMO Type II chemical tankers ordered from China's Lianyungang Shipbuilding Yard.
Syria expands Homs oil terminal, lifting tanker handling capacity tenfold
Syria has completed the rehabilitation and expansion of the western oil tanker yard at its central oil transport facility in Homs, increasing unloading capacity to around 1,000 tankers per day.
Egypt’s Ganope to award 7 oil and gas concessions in Upper Egypt and Red Sea
Egypt's South Valley Egyptian Petroleum Holding Company (Ganope) is in the process of awarding seven new concession areas for oil and gas exploration across Upper Egypt and the Red Sea
Iraq's Nineveh tightens fuel distribution as petrol shortage persists
Petrol shortages continued across Iraq's Nineveh province, with long queues remaining at both government-run and private filling stations as motorists complained about fuel quality and authorities moved to tighten distribution controls.
Iraq directs BP to increase Kirkuk oil production and local recruitment
Iraq's Oil Minister Bassem Mohammed Khudhair Al-Abbadi has called for higher crude oil production and increased gas investment at the Kirkuk oilfields, while urging BP to prioritise local employment as development of the fields gathers pace.
OPEC+ agrees final 188,000 b/d output increase for September
Seven OPEC+ countries -- Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman -- agreed to raise oil output by 188,000 barrels a day in September, Russia's Pivot to Asia reported on August 5, completing the unwinding of 2023's...
Turkey’s imports from Russia sink to lowest since May 2021 as energy trade reroutes
Turkey’s imports from Russia dropped 40.5% y/y to $2.1bn in July, falling to their lowest monthly level since May 2021, as energy trade appeared to shift toward other suppliers amid heightened security risks in the Black Sea.
NIOC CEO urges faster oilfield development in Iran
The head of the National Iranian Oil Co. (NIOC) called for faster implementation of oilfield development projects by removing operational obstacles and relying more on domestic resources.
Iran’s largest crude processing plant nears full operation
Iran has completed construction of the final two trains at the Central Treatment and Export Processing (CTEP) unit at the South Azadegan oilfield, bringing the country’s largest crude processing facility to the brink of full operation.
Iranian tax authority freezes NIOC bank accounts over unpaid fine
Bank accounts belonging to the National Iranian Oil Co. have been blocked over an unpaid penalty, an NIOC official said, in the latest dispute between the state oil producer and the country’s tax authority.
Iran awards South Pars refinery reconstruction to local firms
Iran’s largest natural gas extractor has handed over the reconstruction of one of the damaged gas refineries linked to the giant South Pars gas field to a group of domestic companies.
Hormuz disruption exposes global trade vulnerability
Disruption to shipping through the Strait of Hormuz has exposed the vulnerability of global trade to a single maritime chokepoint, with exports of energy, fertilisers and industrial products from Gulf producers falling sharply.
Egypt and Iraq discuss strategic oil pipeline via Jordan to Red Sea
Egypt and Iraq have held high-level bilateral discussions focused on a major strategic oil pipeline project running from Iraq to Jordan’s port of Aqaba and onwards to the Red Sea coast
Russian gas heads for Iran via Azerbaijan, retracing a Soviet-era pipeline route
Russia and Iran are moving closer to implementing a long-negotiated natural gas agreement routed through Azerbaijan, retracing a Soviet-era pipeline corridor last used in the 1970s.
Fitch affirms Energy Development Oman at BBB-; Outlook stable
Fitch Ratings affirmed on August 4 the Long-Term Issuer Default Rating (IDR) of Energy Development Oman SAOC (EDO) at ‘BBB-’ with a Stable Outlook, underscoring the company’s strategic importance as Oman’s national energy company.
ADNOC Distribution posts 59% profit surge in H1
ADNOC Distribution reported in its latest earnings release a 59% y/y jump in net profit to $568mn in the first half of 2026.
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