MEOG - Middle East Oil & Gas
Egypt’s ENPPI secures $355m Oman gas contract
ENPPI has won a $355m turnkey contract from PDO to execute a major gas infrastructure expansion
Diplomatic progress prompts cautious resumption of Hormuz transit
The tentative reopening of the Strait of Hormuz has allowed critical LNG and crude tankers to resume transit amid progressing US-Iran diplomatic negotiations.
Pakistan seeks Gulf backing for oil reserve hub siting
Pakistan has revealed that it is hoping to persuade Gulf oil producers to establish crude storage reserves at a planned energy hub near Gwadar Port as Islamabad attempts to strengthen domestic energy security following months of disruption.
Iran devises AI roadmap for oil exploration to boost proven reserves
Iran has drawn up an operational roadmap to deploy artificial intelligence in oil exploration, a senior official at the National Iranian Oil Co. (NIOC) said, as the country seeks to modernise its upstream sector and boost proven reserves.
Iran-US war MoU reportedly to waive oil, petchem sanctions
Sanctions on Iran’s oil, petroleum products and petrochemical exports would be waived under a possible memorandum of understanding (MoU) between Tehran and Washington aimed at ending a war launched by the United States and Israel in late February.
Turkey's BOTAS signs memorandum with Italy’s Edison to explore potential natural gas, LNG options
Morocco cuts gas imports from Spain as renewable energies expand
Morocco has reduced imports of natural gas delivered through Spain as the North African country increases its reliance on renewable energy and continues efforts to diversify energy suppliers and sources.
Egypt’s natural gas production down 8% y/y in Q1 2026 to 9.85bn cubic metres
Egypt’s natural gas production declined by 8% year-on-year (y/y/) in Q1 2026, driven by continued pressure on domestic output as demand remained elevated.
IEA chief warns of oil markets entering "red zone" by July-August
Global oil markets could enter the “red zone” by July-August if additional Middle Eastern export supplies fail to materialise and inventories continue falling during the peak summer demand season.
LNG tankers cross Hormuz as hopes for Iran-US deal lift shipping traffic
Two LNG tankers travelled through the Strait of Hormuz bound for Pakistan and China, as vessel traffic through the vital global energy conduit increased significantly amid rising hopes for a deal between Iran and the US to end the war.
Baghdad accelerates efforts to revive crude exports
The Iraqi government is intensifying negotiations with international energy companies to restart shuttered oilfields as Baghdad urgently seeks to circumvent the ongoing closure of the Strait of Hormuz
Iran oil sales fall 22% in April as US naval blockade squeezes shipments, IEA says
Iran’s crude oil exports fell by around 22% in April amid a US naval blockade targeting the country’s ports, according to the latest report from the International Energy Agency (IEA).
US and Iran near 60-day ceasefire extension with gradual Hormuz reopening
US and Iran are close to agreeing a 60-day ceasefire extension including gradual reopening of the Strait of Hormuz, Financial Times reports, as Pakistan's army chief leaves Tehran after productive talks.
Egypt’s Agiba Petroleum announces major gas discovery in Western Desert
Egyptian upstream oil and gas operating company Agiba Petroleum has announced a new natural gas discovery in the Western Desert with estimated reserves of 330bn cubic feet of gas, alongside around 10mn barrels of condensates and crude oil
Iran exports 1.4mn bpd despite US blockade as OPEC output falls 9.57mn bpd in two months
Iran's gas exports to Turkey rise 46% in first month of conflict
Iran's natural gas exports to Turkey rose 46% year on year to 823mn cubic metres in March 2026, the first month of the conflict, according to Eurostat data.
Iraq coordinates with Iran to facilitate oil tanker transit through Hormuz
The Iraqi government intervened directly to secure the passage of the oil tanker *Agios Fanourios 1*, carrying Iraqi crude oil, through the Strait of Hormuz amid tightened Iranian security measures and inspections on vessels.
Saudi Arabia's Natural Gas Distribution calls AGM for June 22
Saudi Arabia's Natural Gas Distribution Company will hold an ordinary general assembly meeting on June 22, with shareholders to vote on a SAR3mn ($800,000) cash dividend for the 2025 financial year.
Dalia Energy strikes 20-year gas deal with NewMed and Ratio to supply two Israeli power plants
Dalia Energy has signed a 20-year natural gas supply agreement with Leviathan partners NewMed Energy and Ratio Energy, securing gas for two large power stations it plans to build in Israel.
Egyptian firm Enppi secures $355mn deal for integrated energy project in Oman
Egyptian oil engineering and energy services firm Enppi has secured a $355mn contract to execute the integrated Badour North-East Birba project in Oman on behalf of Petroleum Development Oman (PDO)
UAE among least disrupted from Strait of Hormuz blockade, Forbes finds
In a study by Forbes, the UAE emerged as one of the Gulf's most insulated economies from the Strait of Hormuz disruption.
US marines board Iranian-flagged tanker in Gulf of Oman
The US Central Command (CENTCOM) said American forces boarded an Iranian-flagged oil tanker in the Gulf of Oman and ordered it to change course amid a naval blockade imposed on vessels linked to Iran.
Egypt reduces foreign oil companies’ dues to $440mn, says petroleum minister
Egypt has reduced outstanding payments owed to foreign oil companies from $6.1bn at the end of June 2024 to $440mn currently, according to a statement from the Ministry of Petroleum and Mineral Resources
QatarEnergy acquires stakes in three Uruguayan offshore exploration blocks
QatarEnergy has acquired participating interests in three offshore exploration blocks in Uruguay from BG International Limited, a subsidiary of Shell, marking the Qatari state energy company's first entry into the country's upstream sector.
Iraq’s FCC protest crisis escalates in Basra after week-long refinery shutdown
A labour dispute at the FCC project in Basra has escalated, with protesters continuing to block the gates of the South Refineries Company for several days, prompting the provincial governor to meet demonstrators inside the facility.
Three tankers leave Strait of Hormuz after Iran greenlights passage
Three crude oil supertankers carrying 6mn barrels of Middle Eastern crude and bound for East Asia slipped out of the Strait of Hormuz on May 20 after waiting in the Persian Gulf for more than two months, shipping data showed.
QatarEnergy acquires stakes in three Uruguayan offshore blocks
QatarEnergy announced that it acquired stakes in three offshore exploration blocks off Uruguay's Atlantic coast from BG International Limited, a Shell subsidiary.
Egypt plans to establish Alexandria-El Hamra refined products pipeline
Egypt’s Ministry of Petroleum is preparing to complete a new pipeline for transporting refined petroleum products from Alexandria to El Hamra Petroleum Port on the Mediterranean coast during H2 2026
Egypt to launch international oil exploration tender in Q3 2026
Egypt’s Ministry of Petroleum is preparing to launch a new international tender for oil exploration covering at least 15 sites in Q3 2026.
Oil falls below $112 as markets weigh fresh US threats against Iran
Oil prices fell on May 20 as markets weighed the latest US threat to resume strikes on Iran, with Brent crude falling below $112 a barrel and West Texas Intermediate approaching $105.
Capricorn, Cheiron sign $208mn deal to expand gas exploration in Egypt’s Western Desert
Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Capricorn Energy (LSE: CNE) and Cheiron to expand oil and gas exploration and production activities in the Badr El-Din area of the Western Desert
Iran returns second repaired drilling rigs to service to speed up oilfield development
Iran’s state drilling company has returned another heavy onshore drilling rig to operation after 470 days of major repairs.
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