MEOG - Middle East Oil & Gas

ADNOC sharpens climate targets ahead of COP28 summit

The Abu Dhabi National Oil Company (ADNOC) brought its net-zero climate targets forward five years to 2045 on Monday, 31 July as the United Arab Emirates prepares to host the United Nation’s COP28 conference in December.

KPC reports decade-high profits

State-owned Kuwait Petroleum Corp. (KPC) reported a total net profit across the parent and its eight subsidiaries of more than KWD2.6bn ($8.48bn) for 2022. The figure is the highest KPC has reported for 10 years.

Canada’s Trillion farms in to Turkish blocks

Canadian firm Trillion Energy has signed a deal to farm into three exploration blocks in south-east Turkey with a local explorer.

Aramco awards rig contracts to Arabian Drilling

Saudia Arabia’s services firm Arabian Drilling has received contracts worth SAR3bn ($800mn) from majority state-owned Saudi Aramco covering the supply of 10 land rigs.

Iran’s IRGC naval wargame kicks off near disputed Persian Gulf islands

Iran’s Islamic Revolutionary Guard Corps (IRGC-N) naval forces are conducting exercises near three disputed islands in the Persian Gulf under the wargame title “Shahid (Martyr) Eshaq Dara.”

Iran’s daily crude oil output rises to five-year high

Turkey gas hub still possible: Putin

The possibility remains that Turkey could still become a gas hub for Russian gas exports, Russian President Vladimir Putin stated recently during the Russia-Africa summit in St. Petersburg.

Kuwait takes carrot and stick approach to shared field disputes

Kuwait is seeking an end to a border dispute with Iraq, while announcing plans to proceed on another contentious project with or without a border deal with Iran

Kuwait interested in investing in Venezuela, CIIP says

Venezuela’s “Centro Internacional de Inversión Productiva” (CIIP) [International Centre for Productive Investment] announced on July 30 that the Government of Kuwait has expressed interest "in investing in the potentialities of Venezuela."

ISTANBUL BLOG: Ordinary Turks take economic beating as media voices insist on positivity on country’s ‘new’ direction

Nagging questions such as what is the policy rate doing at 17.5% when the inflation forecast is 70% are largely ignored.

MEOG: KRG sticking to budget deal