MEOG - Middle East Oil & Gas

20 January 2024

ING: What the Red Sea crisis could mean for commodity markets

19 January 2024

Attacks by Iranian-backed Houthis from Yemen on commercial vessels passing through the Red Sea have made some shipowners reluctant to sail via the Suez Canal and Red Sea.

QatarEnergy pauses sending LNG vessels via the Red Sea amid Houthi attacks

19 January 2024

QatarEnergy will pause sending LNG tankers through the Red Sea amid growing security concerns as Yemen’s Iran-back Houthi militia ramp up attacks in the busy shipping lane in support of the Palestinian Islamist group Hamas’ war with Israel.

Houthi rebels vow not to target Russian ships despite two accidental attacks on tankers

19 January 2024

Houthi rebels have vowed not to target Russian ships passing through the Red Sea, potentially shielding both countries from some of the fallout on international trade caused by the crisis.

IEA sounds alarm: geopolitical tensions in Middle East pose serious threat to global oil supplies

18 January 2024

The Middle East, a region that commands one-third of the world's seaborne oil trade, is facing heightened geopolitical tensions that could significantly affect global oil supplies.

QatarEnergy alters route of LNG tankers to Cape of Good Hope

18 January 2024

Three vessels transporting LNG for QatarEnergy are rerouting their journey to Europe around the Cape of Good Hope after pausing on the weekend amid security concerns in the Red Sea following attacks by Yemen’s Iran-backed Houthi militia.

NISOC ready to co-operate with Iraq

18 January 2024

Iran’s deputy oil minister and National Iranian Oil Company (NIOC) managing director Mohsen Khojastehmehr has said Iran will continue to produce oil and gas for the next 90 to 100 years.

Escalating tensions: a delicate balancing act

18 January 2024

In the wake of a chilling attack by Hamas on Israel in October, the political climate in the Middle East has shifted from cautious optimism to a precarious tinderbox.

Iran eyes $2bn revenue via anti-flaring drive

18 January 2024

Iran aims to rake in $2bn annually by collecting associated petroleum gas (APG) instead of allowing it to be burned off through flare stacks, Iran's Deputy Minister of Oil, Mohsen Khojasteh-Mehr.

NewsBase: Climate-fuelled shipping bottleneck in Panama compounds impact of Red Sea troubles

17 January 2024

The climate-fuelled shipping bottleneck at the Panama Canal is compounding the impact of security problems in the Red Sea.

Iran posts highest output surge in OPEC last year, EIA data shows

16 January 2024

Iran took the lead among OPEC members in terms of oil production growth in 2023, adding 330,000 more barrels of oil to its daily output, data provided by the US Energy Information Administration showed.

Iranian gas flow halted over maintenance, says Iraq

16 January 2024

Iran has halted the exports of gas to neighbouring Iraq, the Iraqi News Agency reported on January 12, less than a week after the Iranian Oil Ministry confirmed that gas imports from Turkmenistan had been cut off.

NMDC wins island-building deal from ADNOC

16 January 2024

Abu Dhabi’s National Marine Dredging Co. (NMDC) has been awarded a $136.7mn deal by the emirate’s NOC to build an artificial island in support of the company’s ambitious oil and gas capacity expansion programme.

Oil hikes 4% after strikes on Yemen, Iran’s tanker seizure

16 January 2024

Oil prices jumped higher following overnight air and sea strikes by the United States and the UK on airports and military facilities in Yemen, a day after Iran seized an oil tanker off Oman's coast.

Iran ramps up gas output by 8.5% amid winter peak

16 January 2024

Iran’s daily gas production has surged by 8.5%, a senior official with the National Iranian Gas (NIGC) said, highlighting the full preparedness of the country's gas refineries during the chilly days of the year.

KRG’s Barzani says talks on path towards oil export resumption

16 January 2024

President of the Kurdistan Regional Government (KRG), Nechirvan Barzani expressed optimism this week that talks between Iraq’s regional and federal administrations are leading towards a Kurdish resumption of oil exports.

Iran in need of $275bn in investment to boost oil, gas output

16 January 2024

Iran will need $275bn in investment to develop its crude oil and natural gas sectors in the next 17 years, the planning director of the National Iranian Oil (NIOC) said.

EXPLAINER: Who are the Houthis?

14 January 2024

The ongoing joint US-UK airstrike campaign targeting Houthi forces in Yemen marks a significant escalation in the region as the Israel-Hamas conflict spills over into neighbouring countries.

Iran's demand for higher prices disrupts oil trade with China

12 January 2024

The global oil market is facing heightened tension as Iran, a key supplier to China, the world's largest crude importer, halts its oil shipments while demanding higher prices