MEOG - Middle East Oil & Gas

7 December 2023

Russia takes over Iraqi oil field from Japan

6 December 2023

Iraqi oil expert Hayder Al-Battat has clarified the reality of Russia's expansion in Iraq's energy and oil sector, particularly in light of Russian company Lukoil acquiring a stake from Japan's Inpex Corporation in the Aridu field.

Putin arrives in UAE to great fanfare

6 December 2023

Russian President Vladimir Putin embarked on a significant one-day visit to the UAE and Saudi Arabia on December 6, with a focus on reinforcing cooperation within the OPEC+ group of leading oil producers and addressing fundamental regional conflicts.

Iran to begin construction of long-overdue Anahita refinery in Kermanshah

6 December 2023

Iran has taken a major step to get a long-stalled project off the ground, after signing a memorandum of understanding to finance the construction of Anahita petroleum refinery in the western province of Kermanshah.

Iran's oil exports to China up by 110% after partnership deal

6 December 2023

Iranian crude oil arriving in China has grown more than 110% since the two countries signed a long-term “strategic” partnership agreement in 2021.

COP28 leader defends controversial remarks

6 December 2023

Sultan al-Jaber, the oil executive who is leading the COP28 climate summit in Dubai, has rocked the conference with highly controversial remarks that there is “no science” that phasing out fossil fuels is necessary.

MOL and Bapco Energies agree CCS deal

6 December 2023

Japanese shipowner MOL has agreed a carbon capture and storage deal with Bahrain’s state oil and gas holding company Bapco Energies.

Energy wastage equal to daily loss of 3.5mn barrels of oil, Iran speaker says

6 December 2023

Iranian Parliament Speaker Mohammad Baqer Qalibaf called energy shortage one of the most pressing concerns among other deficits, pinning the blame primarily on extravagant use of energy resources.

COP28: Major oil companies pledge to cut methane emissions

5 December 2023

About half of the world's oil firms, totalling almost 50 companies, have committed to achieving "near zero" methane emissions and discontinuing routine flaring in their operations by 2030, and achieving net zero by 2050.

Transition risks for petrostates higher than ever, says report

5 December 2023

Petrostates are currently confronted with significant challenges arising from the ongoing energy transition. The diminishing demand for oil and gas is exerting downward pressure on commodity prices, which in turn threatens future revenue streams.

KPC head announces $50bn investment plans

5 December 2023

The head of the state-owned Kuwait Petroleum Corp. (KPC) said this week that the company intends to spend up to $50bn over the next five years to support its ambitious oil production expansion plans.

Vandals sabotage oil pipeline in Yemen’s Shabwa Province

5 December 2023

An oil pipeline in Yemen’s central Shabwa province has been damaged following an attack by an unidentified group of gunmen.

Cyprus, Chevron reach deal on Aphrodite gas field

5 December 2023

The government of Cyprus and US energy giant Chevron reached agreement on 1 December for the development of the Aphrodite gas field, an issue that has been up in the air since August, when the government rejected Chevron's revised development plan.

Iran’s natural gas extraction hits 1bn cubic metres

4 December 2023

Iran's natural gas extraction has reached 1bn cubic metres per day, with 70% gushing forth from the mammoth South Pars (SP) gas field, the head of the planning and project control at the Pars Special Economic Energy Zone (PSEEZ) said.

OPEC+ extends voluntary cuts as Brazil prepares to join

4 December 2023

The group failed to agree on an additional cut that would apply to all members, so leading producers have once again decided to cut over and above the OPEC+ quotas

East Pipes awarded another services deal by Aramco

4 December 2023

Majority state-owned Aramco has awarded a SAR153mn ($42mn) contract to Dammam-based East Pipes Integrated Co. for Industry for the manufacture and supply of steel pipes for key projects in Saudi Arabia.

Iran might become energy importer, IFPI warns amid gas shortage

3 December 2023

The secretary general of the Iranian Federation of Petroleum Industry (IFPI) has sounded the alarm about a looming gas shortage, warning that Iran might turn into an energy importer as consumption outstrips production.

OPEC+ cuts ‘vital’ for market stability, says Iran oil minister

2 December 2023

OPEC+ should keep its “successful move” on track to help stabilise the oil market, Iranian Oil Minister Javad Owji said, after the energy alliance agreed to deepen supply cutbacks during an online meeting.

Turkey moves ahead with Sakarya gas field development

30 November 2023

State-owned Turkish Petroleum Corporation (TPAO) has purchased from Brazil a large platform that it will use for processing gas produced at the Black Sea offshore Sakarya gas field.

Bapco Energies amends and extends financing

30 November 2023

The state energy firm has received encouraging support from regional institutions and while the value is dwarfed by the efforts of its neighbours, Bahrain’s energy transition ambitions may be aided by its comparative resource paucity.