MEOG - Middle East Oil & Gas
Kuwait’s KOTC reports annual profit
KOTC has reported a net profit of $54mn for the 2024/2025 fiscal year
Turkey’s Sasa to establish company for $25bn refinery, petrochemicals investment
Turkey’s Sasa Polyester Sanayi A.S. has announced a decision to establish a wholly owned subsidiary, Sasa Rafineri A.S., with an initial capital of TRY 100mn ($2.4mn), to lead its strategic $25bn investment in a refinery and petrochemical complex.
Abraj receives contract extension for Oxy in Oman
Oman’s Abraj Energy Services, the country’s largest oilfield services firm and a subsidiary of state-owned OQ, has secured a five-year extension worth $221mn to its drilling contract with Occidental Oman (Oxy).
Iraq’s oil revenues exceed $7.18bn in July
Iran begins pumping oil through new Sazbab-Shazand pipeline
Iran started pumping crude oil into a newly built pipeline connecting its oil-rich southwest to central provinces in what officials hailed as a major step to boost the country’s refining capacity.
Iranian crude output at highest since 2018, deputy minister says
Iran’s crude oil production has climbed to its highest level since 2018, despite mounting US sanctions, Deputy Oil Minister Hamid Bovard said.
Israel signs off on Leviathan expansion following Egypt deal
Following a major recent gas deal, Israel has signed off on a major expansion phase at its largest gas field
Saudi stocks slip below 10,900 points amid uncertainty and hesitation in country
Saudi stocks edge lower to 10,898 points with mixed sector performance as uncertainty prevails, though market maintains key support levels above 10,870 points.
Gas deal with Russia via Azerbaijan almost done, price still sticking point, envoy says
Iran’s ambassador to Moscow said that talks with Russia’s energy giant Gazprom over transferring pipeline natural gas were making headway, with “almost all issues resolved,” though the price tag remained a stumbling block.
Iran’s Karoon Oil keeps record 1mn bpd output, CEO says
Iran’s state-run Karoon Oil & Gas Production Co. (KOGPC) has kept crude output steady at 1mn barrels per day (bpd), a record high hit in March, its chief executive Hassan Shahrouei said.
Iran’s petrol demand jumps 7% in five months
Daily petrol consumption in Iran climbed about 7% over the past five months, the head of the state-run National Iranian Oil Products Distribution Co. (NIOPDC) said, after record demand in June was driven by panic buying during Israeli air strikes.
Iraq's GasChem export terminal receives biggest liquefied gas tanker in its history, bound for China
Iran’s Petropars raises South Azadegan oil output by 8,000 bpd
Iran has increased crude oil production at its strategic South Azadegan field by 8,000 bpd
Firms resume oil output in Iraqi Kurdistan amid crucial talks with Baghdad
A KRG delegation is set to visit Baghdad for negotiations as international energy firms begin restoring oil production
Oman’s OQEP ramps up development at key assets
Oman’s OQEP is intensifying development across its upstream portfolio
Iran condemns UK sanctions as Britain targets oil network
Iran condemns UK sanctions on oil magnate Mohammad Hossein Shamkhani and four companies as "baseless" whilst Britain cites destabilising activities and regional proxy.
US Treasury sanctions Iranian oil exports and shadow fleet operations
US Treasury sanctions 13 entities, eight vessels and one individual involved in Iranian oil shadow fleet operations whilst removing four Belarus-related designations from sanctions list.
Uganda signs $4bn oil refinery deal with UAE's Alpha MBM Investments
Uganda has finalised an agreement with UAE-based Alpha MBM Investments LLC to develop a 60,000-bpd crude oil refinery in Kabaale. The $4bn project is expected to begin construction later this year and could be operational within three years.
Jordan launches first CNG refuelling station powered by Risha field
Jordan inaugurated its first independent compressed natural gas (CNG) refuelling station for buses, trucks and other vehicles, in what officials described as a major step to expand natural gas use domestically and reduce energy costs.
Iraq to end fuel imports within months as petrol purchases decline
Iraq’s Oil Ministry announced a plan to end fuel imports by late 2025 or early 2026, after significant progress in refining capacity reduced reliance on foreign supplies, as reported by Iraqi News Agency INA on August 20.
Local media accuse Iranian Oil Ministry of indecision over development projects
Iran’s Oil Ministry is facing one of its most turbulent periods in decades, with mounting criticism over delays, contradictory policies, and what local media describe as “paralysis in decision-making.
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