MEOG - Middle East Oil & Gas

28 October 2023

Fuel smuggling costs Iran $5bn annually

27 October 2023

Iran loses some 20mn litres of gasoline and diesel every day to smuggling operations, more than 8.5% of its total daily fuel production. The illicit trade is valued at $5bn annually, an amount sufficient to build a 200,000-barrel petrol refinery.

Oman LNG inks deal to supply Shell and TotalEnergies for 10 years

27 October 2023

State-run Oman LNG has signed a contract to extend supply of the super-chilled fuel to shareholders Shell and TotalEnergies for up to 10 years.

Italy next in line for Qatari LNG

27 October 2023

Following the recent deals signed for the supply of Qatari LNG to France and the Netherlands, QatarEnergy and Eni have agreed terms on a contract to ship gas to Italy.

Turkmenistan: Homage to Anatolia

27 October 2023

Turkey will be key to ensuring Turkmenistan can get its gas riches to customers in Europe. This and more in this week's Eurasianet Akhal-Teke Bulletin.

Oil infrastructure in northeast Syria key targets for Kurdish/US opponents

26 October 2023

Iranian-back militants reportedly have bombed a gas pipeline in Syria's Deir Ezzor region on the eastern side of the Euphrates River in the Kurdish-controlled area of the country.

Iran proposes creation of SCO fund for oil and gas projects

26 October 2023

Iran has put forward a proposal to set up a dedicated funding mechanism within the Shanghai Cooperation Organisation (SCO) to jointly sponsor oil and gas ventures.

Iran needs $25bn investment in gas sector to fill energy shortage, MP says

26 October 2023

Iran, which has been grappling with a gas shortfall during cold months, is in need of at least $25bn in investments in its gas industry to solve a chronic energy shortage that intensifies every winter, a lawmaker says.

Iraqi PM signals preparedness to resume oil flows via Turkey

26 October 2023

The Iraqi prime minister this week reiterated his government’s position that it is ready to resume exporting oil through a pipeline that crosses Turkey to the Mediterranean Sea.

Iranian tanker-stored crude hits zero amid rising output, sales

26 October 2023

Iran’s floating oil storage has dropped to zero amid a huge surge in its crude output and exports, according to data from Belgian analytics firm Kpler.

Iran, Russia discuss joint development of oil, gas fields

26 October 2023

Iranian Oil Minister Javad Owji said Tehran and Moscow had discussed the development of oil and gas fields as part of a joint effort for greater cooperation between the two major energy exporters.

Iran overestimating oil sales leads to $8bn budget deficit

26 October 2023

Iran has been ramping up its oil production and exports this year, but it has overestimated the volume and value of sales leading to an $8bn hole in its budget

Major deals signed during Korean president’s visit to Riyadh

25 October 2023

Saudi Aramco agreed significant deals for gas processing and oil storage during this week’s visit to the Kingdom by the Korean president

Iran gains know-how to extract shale oil

25 October 2023

National Iranian Oil has acquired the know-how to extract so-called unconventional oils from its shale reserves in western Lorestan province.

Iran seeks multilateral gas transit deal at SCO meeting

25 October 2023

Iran will try to hammer out a multilateral deal to set up a “North-South gas corridor” during an upcoming gathering of the prime ministers of the Shanghai Cooperation Organization (SCO), Oil Minister Javad Owji said.

War in Gaza won’t change the outcome for East Med Gas Pipeline (EMGP) project

25 October 2023

War in Gaza won’t change the outcome for EMGP, which lost too much momentum before the Mideast fell into conflict.

Iranian gas giant to raise extraction to ease winter shortage

23 October 2023

The CEO of South Zagros Oil and Gas Production, Iran’s second-largest gas producer, says his company aims to ramp up daily extraction to help address the gas shortage ahead of the coming winter.

Iran’s top gas producer touts performance on its 25th anniversary

23 October 2023

The daily output of Iran’s largest gas producer, South Pars Gas, has reached 580mn cubic metres, the company's CEO announced as the company celebrated its 25th anniversary.

Oil markets on edge amid escalations in Israel-Hamas war

22 October 2023

The escalation in the Israel-Hamas conflict is inciting apprehensive speculations about the impact on global oil markets amid the complex web of geopolitics, sanctions and spectre of broader tensions in the region and beyond.

OPEC turns down Iran call for oil embargo on Israel over Gaza

20 October 2023

Iran’s call on Muslim countries to halt oil shipments to Israel appears to have fallen on deaf ears, as OPEC is not planning to take any immediate action.