MEOG - Middle East Oil & Gas

Iran’s NIDC completes 23 oil, gas wells in first quarter

Iran’s state drilling contractor completed drilling and workover operations on 23 oil and gas wells across the country’s onshore and offshore fields during the first three months of the current Persian calendar year, CEO Morteza Fouladi said.

New LNG carrier enters service as Oman expands export fleet

Oman has marked a significant milestone in its liquefied natural gas (LNG) export sector with the inaugural shipment aboard Muscat LNG, one of the country's newest and most technologically advanced LNG carriers, the local Oman News Agency (ONA) said.

BP returns to Iraqi Kirkuk oilfield projects after security pause

BP has resumed technical and engineering work on oilfield development projects in Iraq's Kirkuk province after returning foreign personnel who had been withdrawn earlier this year due to regional security concern.

EU's oil and gas suppliers push back against methane regulation

The US, Qatar, Nigeria and Algeria have warned the EU that its methane regulation could disrupt oil and gas supplies to Europe unless the bloc clarifies the rules and introduces targeted amendments.

Italian Eni starts up major offshore Sabratha gas compression project in Libya

Italy’s energy major Eni, in partnership with Libya’s state-owned National Oil Corporation (NOC), has commenced hydrocarbon production from the Sabratha Compression Project

Iran's Mapna gets auditor approval for 200% capital increase

Iran's Mapna Group has received auditor approval for a 200% capital increase that will raise its capital to IRR180,000bn, as the industrial group seeks to strengthen its balance sheet and compete for major power, energy and rail projects.

Egypt launches $90mn initiative to raise natural gas production, targets El-Hamra Port expansion

Pakistan weighs cheaper Iranian oil, gas imports after US eases sanctions

Energy-hungry Pakistan is considering increasing imports of cheaper oil and gas from neighbouring Iran after the United States temporarily lifted sanctions on Tehran, reopening the possibility of Iranian crude purchases under a 60-day waiver.

Vitol signs 20-year LNG supply deal with UAE’s International Resources Holding

Energy and commodities trader Vitol has signed a 20-year LNG supply agreement with International Resources Holding.

Aramco helicopter crash kills 14 at Saudi Ras Tanura terminal

A helicopter belonging to Saudi oil giant Aramco crashed at the Ras Tanura terminal on Saudi Arabia's Gulf coast on June 28, killing all 14 people on board, the Saudi Press Agency reported, citing an energy ministry source.

Iran deploys first domestic gas compressors at Binak to capture associated gas

Iran has begun moving the first batch of domestically built reciprocating gas compressors to the Binak oilfield in the southern province of Bushehr for installation as part of a project to capture associated petroleum gas (APG).

Iran launches second phase of Azar oilfield development

Iran has launched the second phase of development at the joint Azar oilfield near its western border with Iraq, aiming to ramp up production by 3,500 barrels per day (bpd) in the first stage.

Aramco resumes loadings at Ras Tanura

Saudi Aramco has resumed crude exports from its Ras Tanura terminal following a four-month blockade, intensifying market competition despite ongoing geopolitical risks across the region

Syria cuts fuel and cooking gas prices by up to 20%

Syria has reduced the prices of fuel products and household cooking gas by between 14% and 20% following a review of domestic energy pricing.

Iraq seeks to expand energy cooperation with Chevron

Iraq's Ministry of Oil has held talks with US energy major Chevron to expand cooperation and explore investment opportunities in the country's oil and energy sector.

Kuwait, Bahrain confirm Iranian strikes as building damaged

Kuwait and Bahrain have confirmed they were targeted by Iranian missiles and drones, with a building damaged in Bahrain, after Iran struck US bases in the two Gulf states in retaliation for US strikes on Iranian territory.

Iraq presses Iran to reopen Strait of Hormuz as crude exports take hit

Any interference in the Strait of Hormuz will only delay its reopening, Iran's foreign minister Abbas Araghchi says in Baghdad, as Iraq offers to host a regional security summit including Iran and the Gulf states.

Iran rejects US-GCC statement as Gulf hardens stance over missiles, Hormuz

Iran has condemned a joint US-GCC statement as interventionist, after Gulf ministers and Marco Rubio hardened their position on Iran's missiles, drones and the Strait of Hormuz at a meeting in Manama.

Iraq expands fuel oil exports via Syria as regional shipments rise

Fuel oil exports from the Middle East are expected to hit a four-month high in June, with Iraq emerging as one of the region’s leading exporters by expanding its use of alternative export routes, particularly through Syrian ports.

Iraq denies plans to leave OPEC as quota debate continues

Iraq’s Ministry of Oil has denied reports that the country is considering withdrawing from OPEC, confirming that such claims do not express the official position of the Iraqi government.

US temporarily lifts sanctions on Iran

The US has now temporarily lifted its sanctions on Iran as part of peace negotiations, allowing the country to produce, deliver, and sell its crude oil, petrochemical, and petroleum products.

Israel's Kedma Capital planning 900MW natural gas-fired power plant

Israeli private equity fund Kedma Capital is advancing plans to build a 900MW natural gas-fired power plant in the Nesharim Industrial Zone in Ramla.

Germany’s MAK launches work on $550mn Sohar petrochemicals project in Oman

Germany’s MAK Germany GmbH has begun construction work on a $550 mn petrochemicals complex in Oman, marking a major downstream industrial investment in the Sultanate’s fast-expanding chemicals and plastics sector.

Oman expands spot gas market with new agreements to boost industrial growth

Oman’s Integrated Gas Company (IGC) signed a series of agreements under the Sultanate’s Spot Gas Market, reinforcing efforts to improve the efficiency of natural gas allocation, and support industrial expansion in the country.

Oman, Turkey TPOC sign offshore concession agreement for Musandam Block 80

Oman signed a new offshore concession agreement with a consortium comprising OQ Exploration and Production (OQEP) and Turkish Petroleum Overseas Company Limited (TPOC) for Block 80, located offshore Musandam Governorate in north Oman.

The debate over EU methane regulation and energy security

The EU’s methane regulation has split analysts, with Rystad saying it will not harm supply and Wood Mackenzie warning it could make large volumes of imports non-compliant.

Egyptian oil services major Enppi requests bourse listing

The Egyptian Exchange (EGX) has received a formal request to list the shares of the Engineering for the Petroleum and Process Industries (Enppi) on its main market

Qatar to resume normal LNG output within weeks, prime minister says

Qatar will resume normal LNG production within a few weeks, its prime minister says, though Iranian strike damage will keep around 17% of capacity offline for years, leaving global gas markets only partly relieved.

Oman opens temporary Strait of Hormuz routes with no tolls

Oman will keep the Strait of Hormuz open without tolls and has designated two temporary routes north and south of the existing lane to let vessels leave safely, working with the IMO, after Iran's effective closure of the waterway.

Qatar to restore LNG output to pre-Iran war levels

Qatar is set to restore LNG production to pre-war levels within weeks, Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani confirmed.

India’s Russian crude imports hit record level

Regardless of efforts by the US or even the EU to pressure New Delhi to abide by wider sanctions on Moscow, Russian crude is set to remain a defining feature of India's energy mix in at least the near term.