MEOG - Middle East Oil & Gas

Data shows oil deliveries from Russia to Turkey hit record high in 2024

Oil deliveries from Russia to Turkey hit a record high in 2024, registering at 323,000 barrels per day (bpd), marking a 36% gain versus the previous record of 254,000 bpd set in 2022, according to data from analytics company Kpler.

Iraq to resume oil pipeline operations with Turkey

Iraq’s Oil Minister Hayan Abdul-Ghani has said that Iraq plans to export at least 300,000 barrels per day of crude oil once the northern pipeline to Turkey resumes operation after being shut down for nearly two years.

Saudi fund extends $1.2bn Pakistan oil financing deal

Iraq’s southern oil exports hit 3.3mn bpd in January

Oman tries to drum up interest in onshore blocks

Oman has opened a licensing round for oil and gas exploration in Blocks 36, 43A and 66

Foreign oil firms enhance three sectors, says Iraqi oil ministry

The Iraqi Ministry of Oil outlined the social benefit projects implemented in areas close to oil fields, highlighting that these initiatives focus on three key sectors.

Iran calls for lifting oil sanctions amid US trade war with its crude suppliers

Iranian Economy Minister Abdolnaser Hemmati has urged the US to lift sanctions on Iran’s oil as Washington launches a new trade war against Canada, Mexico and China – one that now includes tariffs on crude imports from America’s two energy suppliers.

OPEC+ weighs Trump policy as oil prices jump on tariff concerns

Iraqi MPs give nod to Kurdish oil export resumption

Iraq's parliament has paved the way for the resumption of oil exports from the semi-autonomous Kurdistan Region.

Kuwait’s KPC prepares trading arm to begin operations with senior hires

Kuwait's KPC has made several senior appointments at its Dubai-based trading arm ahead of the start of operations.

US firm Halliburton to develop two Basra oil fields

Halliburton has signed preliminary agreements with Basra Oil Company to develop the Nahr bin Omar and Sindbad oil fields, Basra Oil Company director general Bassim Abdul Karim announced on February 2.

Japanese firms show strong interest in Iraqi market

Japanese Ambassador to Iraq Akira Endo announced on February 3 that 23 Japanese companies are participating in the Japanese pavilion at the Baghdad International Fair, demonstrating Japan's strong commitment to the Iraqi market.

Iran to seal deals with four local firms to boost pressure in South Pars gas field

Iran is set to finalize deals with leading local firms to carry out a major pressure-boosting project in its colossal South Pars gas field, said a senior official at the National Iranian Oil Co.

Jordan eyes more gas exploration projects in several regions, says energy minister

Jordanian Minister of Energy and Mineral Resources Saleh Al-Kharabsheh said the government is currently intensifying its efforts to explore gas in several regions across the country.

Azerbaijan’s SOCAR acquires stake in Israeli gas field

The NOC has made its first acquisition in the East Mediterranean, after its award of acreage in a licensing round went cold amid geopolitical instability

Iraq claims gas flaring reduced by 70%

Iraqi Prime Minister Mohammed Shia al-Sudani said last week that the practice of flaring gas had been reduced by70%.

Kuwait accused of siphoning Iraqi oil through cross-border drilling

Kirkuk signs first contract for oil refinery construction

Saudi economy grows 1.3% in 2024, exceeding government forecasts

Oil prices steady as markets await clarity on Trump trade policies

OPEC+ to discuss Trump proposal on US oil output expansion

The OPEC+ alliance of major oil producers is set to deliberate on US President Donald Trump’s recent proposal to expand American oil output, Kazakh Energy Minister Almasadam Satkaliyev told a briefing on January 29.

Iran signals possible petrol price hike amid chronic fuel shortages

The Iranian government once again raised the prospect of hiking petrol prices in the next fiscal year, starting on March 21, amid chronic fuel shortages.

Sellers of Iranian oil find new routes in China to bypass US sanctions

Sellers of Iranian crude oil found new destinations for their shipments in China three weeks after a key Chinese port group banned tankers blacklisted by the United States.

Saudi Bahri and Petredec form strategic alliance for LPG and ammonia shipping

Iran’s gas output growth slows to crawl amid soaring domestic demand, IEA says

Iran’s natural gas production grew by less than 2% in 2024 and is estimated to shrink further to just 1% this year, the International Energy Agency (IEA) said in its latest report.