MEOG - Middle East Oil & Gas
Iran’s IOOC signs deals for offshore drilling rigs
The state-owned Iranian Offshore Oil Co. (IOOC) has signed two deals to secure advanced offshore drilling rigs for deployment in the Persian Gulf as part of efforts to develop its oil and gas fields, the firm’s chief executive said.
Fitch downgrades SOCAR-owned Turkish petrochemical producer Petkim to 'CCC' on “very weak” profitability
Fitch Ratings late on September 29 downgraded Turkish petrochemical producer Petkim Petrokimya Holdings’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CCC' from 'CCC+', citing continuing weakness in the European chemical market.
Iran’s NIOC unveils new investment model for oil, gas projects
Iran’s state oil company has drawn up a new framework with the National Development Fund (NDF) to channel “diverse forms” of investment into oil and gas projects, to add 250,000 barrels per day (bpd) of production, its chief said.
OPEC+ set to approve output hike
OPEC+ is set to raise oil output in November and aims to reclaim its global market share, according to Bloomberg.
UAE energy firm Dragon Oil wins North July oil field bid in Egypt
Dubai government-owned energy company Dragon Oil has secured the concession for Egypt’s North July offshore oil field, located northeast of the Gulf of Suez.
Kurdish exports restart under revamped federal oversight
Crude exports from Iraqi Kurdistan resumed over the weekend, bringing to an end a two-and-a-half-year hiatus, and potentially marking a pivotal change in the region’s fortunes
Iran says oil output hits seven-year high after field development push
Iranian Oil Minister Mohsen Paknejad said the country’s crude production had climbed to its highest level in seven years, crediting fresh drilling and recovery efforts at major fields, including the giant Azadegan oil field in oil-rich Khuzestan.
Iranian Oil Ministry rejects claims, slams local paper
Iran’s oil ministry has dismissed reports by local daily Eghtesade Pooya alleging a drop in crude exports, saying production and shipments remain on a steady upward trajectory.
India resumes imports of Iranian crude after 6-year hiatus
Iran has found a new buyer for its crude, with India importing a shipment worth $111mn, according to official data from the country’s Ministry of Commerce and Industry.
Iraq exports 800mn barrels of crude in eight months, revenues exceed $41bn
Iraq exported more than 800mn barrels of crude oil during the first eight months of 2025, generating nearly $42bn in revenues, according to figures released by the State Oil Marketing Organisation (SOMO)
Italy’s Eni to invest $8bn in Egyptian gas exploration projects over next five years
Italian energy major Eni plans to inject $8bn in investments into Egypt over the next five years to accelerate exploration and field development
ADNOC’s subsidiary XRG acquires stake in Rio Grande LNG project in Texas
The United Arab Emirates’ state-run oil and gas company ADNOC announced that its investment vehicle XRG has closed its acquisition of an equity stake in NextDecade’s Rio Grande LNG project located in Brownsville, Texas.
Trump lavishes praise on Erdogan in White House meeting and suggests Turkey stop buying Russian oil and gas
Some big military and civilian aircraft deals may be in the making, but the deal-making remains behind closed doors.
Iraq launches five strategic oil projects in Basra, Kirkuk
Iraq launches five major oil and gas projects in Basra and Kirkuk provinces, targeting 210,000 bpd crude production and 1,000MW solar capacity as the country aims to become a gas exporter.
Return of UN sanctions will not hamper oil sales, Iranian minister says
Iran said that the possible reimposition of UN sanctions under the so-called snapback clause would not amount to a “new troubling restriction” on the country’s crude sales, insisting that exports will carry on “without problem.”
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