MEOG - Middle East Oil & Gas
Iran’s oil output seen resilient at 2mn bpd even if exports halted, data analysis shows
A detailed review of oil output and export data from Iran’s first period of US “maximum pressure” suggests that the widely cited risk of the country’s storage capacity filling up and forcing a production shutdown is fundamentally flawed.
Iran reaffirms OPEC commitment after UAE exit
Iran said it remained committed to its OPEC obligations after the United Arab Emirates walked out of the oil cartel, a move Tehran called “non-constructive” amid rising tensions in the Persian Gulf and disruptions to exports.
Fuel prices in Morocco ease in May after weeks of sharp increases
Fuel prices in Morocco declined by around MAD 1 ($0.1) per litre in May, marking the first notable correction after weeks of consecutive increases that had pushed prices to record levels.
Beijing defies US sanctions on Iranian oil trade
China has said it will not comply with the latest US sanctions package imposed on a group of refineries accused by Washington of purchasing Iranian crude.
ADNOC ramps up expansion with $55bn capital push following OPEC departure
ADNOC has initiated a $55bn infrastructure investment phase for the 2026 to 2028 period
Shell to begin gas production from Egypt’s West Mina field late 2026
International oil major Shell (NYSE:SHEL) is set to begin natural gas production from Egypt’s West Mina field in the Mediterranean Sea in Q4 2026, in partnership with Kuwait Foreign Petroleum Exploration Company (KUFPEC).
FCC protesters continue disruptions at Basra’s South Refineries Company in Iraq
Dozens of former workers from the FCC oil project staged a protest on May 4 for the second consecutive day outside the gates of the South Refineries Company in Basra, blocking access to employees as they demanded formal employment within the Ministry
Jordan, Syria and Lebanon sign landmark gas cooperation deal
Energy ministers from Jordan, Syria and Lebanon have announced a major agreement to cooperate on the exchange and transit of natural gas, aimed at strengthening energy security and improving electricity supplies across the region.
OPEC+ core adjusts output as UAE finalises institutional withdrawal
The UAE has formally withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), deepening its strategic pivot away from multilateral energy frameworks
Iran’s NISOC completes 13 smart pipeline inspections to shore up output stability
The National Iranian South Oil Co. (NISOC) has carried out 13 rounds of smart pigging operations on its main crude oil pipelines in the south, as it moves to shore up infrastructure integrity and sustain production, a senior official said.
China defies US sanctions on refiners over Iran oil trade
China will not comply with US sanctions imposed on five of its refiners for buying Iranian oil, the Commerce Ministry said, issuing a prohibition order to block the measures and push back against Washington’s pressure campaign on Tehran.
Egypt announces new natural gas discovery in Nile Delta
Egypt’s Ministry of Petroleum and Mineral Resources has announced a new natural gas discovery in the Nile Delta, marking a significant step towards strengthening domestic energy production
Egypt plans to cut fuel imports by 25% in May as demand eases
The Egyptian government is currently planning to reduce its fuel imports by up to 25% in May, as domestic demand declines following the introduction of commercial energy-saving measures
Egyptian government slashes oil partners' arrears to $714mn
Egypt’s Ministry of Petroleum and Mineral Resources has announced a further decline in outstanding payments owed to foreign oil companies, with the total arrears dropping to $714mn,
Post Assad Syria sill dependent on Russian oil
Russia has emerged as the main supplier of oil to Syria, despite the new government's reaching out to the West and uncomfortable relations with Moscow over its military support for the fallen Assad regime.
COMMENT: Did Europe just hand the future to Madrid?
Spain's Socialist government is delivering Europe's fastest growth, the EU's most outspoken stance on Gaza, the continent's biggest Chinese EV investments and Latin America's only serious European interlocutor.
Iran's judiciary chief welcomes talks with US but rejects "imposition”
Iran's Judiciary Chief Gholamhossein Mohseni-Ejei has said Iran welcomes US talks but rejects imposition.
UAE strikes back at Turkey in fight to become global investor haven
The United Arab Emirates is hitting back at emerging competitors such as Turkey in the fight to emerge as the prime Middle Eastern destination for international investors.
Trump congratulates Iraq's al-Zaidi after Maliki bid collapses
US President Donald Trump congratulated Iraqi Prime Minister-designate Ali al-Zaidi on April 30, ending a four-month standoff in which Washington derailed Nouri al-Maliki's bid under threat of sanctions on Iraq's central bank, oil and political figur
Dallas Fed issues energy survey update highlighting uncertainty among oil and gas executives
The Federal Reserve Bank of Dallas has issued an update to its quarterly energy survey of sentiment among oil and gas executives.
Leading oilfield service firms highlight impact of Middle East conflict in first-quarter results
As oilfield services firms begin releasing their first-quarter results, leading players are highlighting the impact of the conflict in the Middle East.
TotalEnergies presses ahead with Iraq projects despite regional unrest
TotalEnergies has confirmed it is continuing to advance its strategic projects in Iraq despite rising regional tensions linked to the Iran conflict and disruptions to shipping through the Strait of Hormuz.
TotalEnergies eyes more natural gas exploration projects in Egypt
French energy major TotalEnergies (EPA:TTE) has announced plans to expand its natural gas exploration and production activities in Egypt in the coming period
How China captured the Gulf while Washington forgot to send an ambassador
Beijing now trades nearly $400bn a year with the Middle East, runs the region's largest infrastructure programmes, and brokers its diplomacy. America still sells the weapons. It is not enough
Israel announces rise in petrol prices for May
UAE announces petrol and diesel prices for May
Iran oil minister says US blockade 'failing' to curb oil exports
Iranian officials said a naval blockade had failed to choke off the country’s oil exports and that Tehran had enough storage capacity to see it through for another 30 days, pushing back against reports that Washington plans to widen pressure.
Iran's oil sector fails to "explode" as Trump's shut-in deadline passes
The US blockade of tankers serving Iran’s oil exports is intended to cut Iranian oil exports to near-zero and force its production to stop as storage tanks fill, forcing Tehran to return to the negotiation table. The plan hasn't worked.
Chevron signs MoU to assess shale oil and gas potential in Libya
Libya's state-run National Oil Corporation (NOC) has signed a memorandum of understanding (MoU) with US energy major Chevron (NYSE:CVX) to conduct a joint study evaluating the North African country’s unconventional energy resources
Iran says Azadegan oilfield development stays on track despite war
Iran is pressing ahead with the development of the giant Azadegan oilfield on its border with Iraq, with work continuing without interruption despite the 39-day war launched by the United States and Israel in late February, a senior official said.
Iranian crude tops $110 a barrel as Hormuz disruption persists
Iranian crude oil prices surged past $110 per barrel on April 29, driven by mounting supply concerns following an effective closure of the Strait of Hormuz and a prolonged naval blockade of Iranian ports by US forces.
OPEC Fund unveils $1.5bn support package for developing countries following UAE departure
The OPEC Fund for International Development has launched a $1.5bn package to assist developing nations facing energy and commodity shocks linked to the Iran war. Funds will be disbursed through 2028 on a demand-driven basis, the Vienna-based lender s
UAE explains motivation behind OPEC withdrawal
The United Arab Emirates government has explained why it decided to withdraw from OPEC and the broader OPEC+ alliance.
Iran slams US seizure of two oil tankers as ‘piracy’
Iran condemned the US seizure of two tankers carrying Iranian oil in the Indian Ocean, calling the confiscation of 3.8mn barrels of oil an example of “US addiction to lawlessness” and the “outright legalization of piracy” amid a naval siege.
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