MEOG - Middle East Oil & Gas
OPEC output falls as sanctions imposed on Iran, Venezuela
OPEC oil output fell in March in place of an expected output increase, according to a Reuters survey revealed on April 7, with Iran, Nigeria and Venezuela all reducing supply.
China’s imports of Iranian crude surge in March despite US sanctions
China’s crude oil imports from Iran surged to a record 1.9mn barrels per day in March, according to data, with independent refineries, also known as teapots, driving the increase.
Iranian state drilling firm to invest $1.1bn in equipment upgrade
The National Iranian Drilling Co. (NIDC) is setting aside $1.1bn this year to kit out its oil and gas drilling operations with new equipment as part of efforts to modernise its ageing fleet and enhance drilling efficiency.
Iraq says no major obstacles stand in the way of export resumption
Iraq’s Ministry of Oil claims there are now only minor technical issues to resolve before Kurdish oil exports can resume via the Iraq-Turkey pipeline
Turkey’s energy minister receives European Commissioner for energy
Turkey’s energy minister Alparslan Bayraktar on April 3 received European Commissioner for Energy and Housing Dan Jorgensen at Turkey’s energy ministry in Ankara, the minister (@aBayraktar1) wrote on X.
UAE’s Dana Gas and partners announce production boost at Khor Mor in KRG
UAE-based Dana Gas, a partner in the Pearl Petroleum consortium that operates the Khor Mor project in Iraqi Kurdistan, announced on April 3, that production at the KM-250 project had reached 500mn boepd.
Iran boosts oil production at Yadavaran field to meet energy targets
Iran has increased oil and gas production at one of its largest oil fields, as part of ongoing efforts to step up national output and stay on course to meet energy targets.
Arabian Drilling adds new offshore platform in SAR260mn deal
Saudi Arabian Drilling Company has added a new offshore services platform in a deal worth SAR260mn.
Oil falls 3.75% amid global trade war recession fears
Oil prices fell 3.75% on April 7, continuing last week's losses, as escalating trade tensions between the United States and China fuelled fears of an economic recession that could reduce crude demand.
Saudi Arabia’s frustration with Kazakhstan drives shock OPEC+ supply hike
Saudi Arabia’s mounting frustration with Kazakhstan and other quota-non-compliant oil producers reportedly triggered a surprise decision by the OPEC+ group to boost oil supplies, with little appetite to reverse course even if prices fall further.
Israel reignites talk of Saudi-Med pipeline
Israel's Energy Minister has unveiled plans to collaborate with the US on multiple initiatives in the energy sector.
Iranian oil flow to China hits seven-month high despite tightening US sanctions
Iran’s crude oil exports to China climbed to 1.91mn barrels per day in March, the highest level in seven months even as the United States has tightened the screws in its bid to bring the Islamic Republic’s oil trade to a halt.
Iraq constructs 43-km gas pipeline to supply power to Bismayah Plant
The Iraqi government is constructing a 43km gas pipeline to supply Bismayah Power Plant with a capacity of 800mn standard cubic feet per day, according to a report from Al Hadath.
OPEC+ agrees to increase oil production in May
The OPEC+ alliance has agreed to increase oil supplies in May, with an increase equivalent to three monthly installments from its previous production increase plan.
US imposes 17% tariffs on Israeli goods while Iran faces only 10%
US President Donald Trump announced a comprehensive new trade policy on April 2 that reveals a striking disparity in tariff rates between Israel and Iran.
Oil prices surge on Trump threat to slap tariffs on Russian oil
Should tariffs come into force, Russian flows to its key customers could drop, tightening supply and potentially prompting OPEC+ to act to stabilise the market, according to Rystad.
Iranian crude cargoes in SE Asia looking for a home
An estimated 17mn barrels of Iranian crude oil is stuck offshore Malaysia with no apparent buyers, and has been floating off the Malay peninsula for over a month.
Chinese firm wins project management deal for Iraq oilfield
Chinese company HQC has secured a contract to provide project management services for Iraq's West Qurna 1 oilfield
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