MEOG - Middle East Oil & Gas

12 October 2023

Middle East conflict won’t disrupt oil market, Iran minister says

11 October 2023

Iran’s Oil Minister Javad Owji said the escalating conflict between Israel and Hamas would not affect the global oil market, after oil prices spiked more than $3.50 on Monday over concern the clashes could spiral into a broader war.

QatarEnergy signs 27-year LNG supply deal with TotalEnergies

11 October 2023

QatarEnergy sealed its longest LNG supply deal with a European company on October 11, when it signed a 27-year agreement with France’s TotalEnergies.

Excessive energy consumption costs Iran $100bn annually, speaker says

11 October 2023

Iran’s Parliament Speaker, Mohammad-Baqer Qalibaf, said that excessive energy consumption was taking a heavy toll on the country, inflicting an annual loss of some $100bn.

Kuwait reasserts oil expansion ambition

11 October 2023

Kuwait’s state upstream oil firm this week repeated previously espoused ambitions to raise oil production to 4mn barrels per day by 2035.

Northern Emirates announce exploration effort, gas supply deal

11 October 2023

The state energy firms of Sharjah and Ras Al-Khaimah last week announced the completion of a joint exploration effort and signed a bipartite deal covering a the supply of gas to the latter.

Iran to expand crude processing with ‘strategic’ push for petro-refineries, say MP

11 October 2023

Iran is making a “strategic” push toward building more petroleum refineries, a lawmaker said, after the parliament gave the go-ahead to the Oil Ministry to seek foreign investments to expand the country’s crude processing capacity.

Oil prices could skyrocket if Iran drawn into Israeli-Hamas conflict

11 October 2023

There are growing concerns that military clashes between Israel and the Palestinian group Hamas may snowball into a full-blown war, potentially spilling over into other parts of the Middle East. These fears have sent shockwaves through oil markets.

Iraq sets itself up for new gas imports

10 October 2023

The Iraqi government is stepping up efforts to diversify its gas import options as the country works to capture associated gas and develop standalone assets.

Israel shuts Tamar gas output, oil market shaken and US boosts security in East Med

10 October 2023

The surprise attack on Israel by Hamas militants from the Gaza Strip on 7 October has ripped open the seething tensions in the Palestinian-controlled territory and led Israel to declare war against Hamas with a promise of strong retaliation.

Iran MPs allow Oil Ministry to seek foreign refinery investments

10 October 2023

Iran's parliament has granted the Oil Ministry the authority to go into partnership with foreign companies for the construction of new refineries in the country.

COMMENT: Oil markets on tenterhooks as Hamas attack on Israel stokes contagion fears

10 October 2023

Global oil markets face the possibility of a price spike following the surprise attack by Hamas militants on Israel, which has seen hundreds killed and the start of a new war that could potentially threaten energy flows in the region.

Iran parliament approves key energy production bill

10 October 2023

Iranian lawmakers approved in principle a section of the country’s Seventh Development Plan that lays out an ambitious vision for fuel production, including oil and gas, in the next five years.

Iran’s biggest gas company produces 9.55 bcm in six months

10 October 2023

Iran’s South Pars Gas Complex (SPGC) has injected more than 9.55bn cubic metres of gas into the national transmission network in the first half of the Persian calendar year (started on March 21), said its CEO, Ahmad Bahoush.

Fuel-inefficient cars blamed for $10bn gasoline waste in Iran annually

9 October 2023

Iran’s automotive industry is inflicting at least a $10.5bn loss to the country annually as it produces vehicles that burn fuel at a rate twice as high as the global average.

Crude extraction kicks off in Iran’s Sepehr, Jofeir oilfields

9 October 2023

Iran has begun pumping crude from its Sepehr and Jofeir oilfields in the south-western Khuzestan Province, a lawmaker representing the oil-rich region said on October 8, according to state news agency IRNA.

Kuwait plans full exploitation at Arash gas field amid Iran dispute

5 October 2023

Kuwait is working to lay the groundwork for natural gas extraction from a disputed field in the Persian Gulf in six years, suggested comments from a Kuwaiti official published by Reuters on October 4.