MEOG - Middle East Oil & Gas
KBR awarded deal to revive Kuwait’s Heavy Oil ambitions
KBR has been awarded a key contract to design the next expansion phase of Kuwait’s South Ratqa heavy oilfield
Iran’s oil discounts cost nation $2.5bn as 40mn barrels sit unsold at sea
Iranian crude oil is reportedly being sold at its steepest discount in recent years, resulting in over 40mn barrels stranded at sea due to sluggish sales and mounting stockpiles, according to market sources and international data providers.
Iran looks to allow oil exports through local energy exchange
Tehran is working on a framework to enable crude oil exports through its domestic energy exchange, the head of the Iran Energy Exchange (IRENEX), said, calling for greater transparency and efficiency in the country’s international oil sales.
US Gulf Coast refiners pivot to international suppliers as local crude sources dwindle
American Gulf Coast refineries are securing elevated volumes of Middle Eastern and South American crude to replace diminishing Venezuelan and Mexican barrels, with ship tracking data revealing a significant supply chain reorganisation
Iran drills 10 new wells at South Azadegan oil field
Iran has completed drilling 10 new wells in the South Azadegan oil field, a key component of the West Karoun oil development plan in the oil-rich Khuzestan province, the National Iranian Drilling Co. (NIDC) announced.
Turkey-Iraq pipeline impasse highlights billion dollar standoff
A fresh spotlight has been cast on the deep-seated financial and legal disputes blocking the restart of Iraqi oil exports via Turkey
Iran ramps up gas output from South Pars with new infill well
Iran has boosted natural gas production from its giant South Pars field by 1.6mn cubic metres per day following the completion of a third infill well, the state-run Pars Oil and Gas Co. said.
Iraq's oil revenues hit $6.69bn for June 2025
Iraq’s Ministry of Oil has announced its final oil export and revenue figures for June 2025, reporting total crude oil exports of 98.8mn barrels and generating $6.69bn in revenue.
Iran has plans for crude sales if UN sanctions reinstated, oil minister says
Iran has drawn up contingency plans to maintain oil exports under any scenario that may arise from renewed international sanctions, Oil Minister Mohsen Paknejad said, as European powers threaten to trigger the UN snapback mechanism.
Qatar warns EU it could halt LNG shipments if bloc doesn’t change law
Qatar finds itself in a battle with EU lawmakers desperately seeking to pair back a due diligence law to avoid a massive fine.
Israel's (IEC) signs $8.2bn gas supply MoU with Tamar partners
Israel's IEC has signed an MoU for a 10-year gas supply deal with the shareholders in the offshore Tamar field
Iran installs electric pumps in Yaran oil field to boost crude output
A state-run Iranian company has installed electric submersible pumps (ESP) in several wells at the southern section of the Yaran oil field in the southwest, aiming to enhance recovery and sustain production levels.
Iran sees highest oil revenue growth among OPEC members in 2024, OPEC data shows
Iran posted the largest rise in oil export revenues among OPEC member states in 2024, with earnings climbing nearly 14% to $46.8bn, according to the latest figures released by the Organisation of the Petroleum Exporting Countries (OPEC).
Iran issues first Parallel Salam Bonds for oil field development
Iran has taken a major step towards funding its upstream petroleum projects through capital markets, by issuing the first licence for Parallel Salam Bonds (PSB) for crude oil, aimed at financing new oil field development contracts.
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