MEOG - Middle East Oil & Gas

Gas extraction from Iran’s South Pars hits record high

Iran’s natural gas extraction from the South Pars field has climbed to an all-time high of 718mn cubic metres (mcm) per day, said Touraj Dehqani, CEO of the state-run Pars Oil and Gas Co. (POGC).

Syria seeks 7mn barrels of crude to alleviate power crisis

Syria’s Ministry of Energy has issued a call for bids to purchase 7mn barrels of light crude oil, as the country continues to grapple with a severe energy crisis

Norway's DeepOcean launches Saudi subsea joint venture with Jana Marine

Norway's DeepOcean and Saudi Arabia's Jana Marine establish JADE Subsea Services joint venture for Middle East offshore energy sector, with five-year charter for hybrid-powered diving support vessel Jana 201.

Oman gas aggregator IGC inks $8.8bn supply deals in Muscat

Iraq cancels Russian Lukoil crude shipments amid US sanctions

Iraq’s state oil marketing firm SOMO has cancelled the loading of three crude oil cargoes from Russian energy Lukoil this November, citing concerns over newly imposed sanctions by the US and the UK

Iraq cuts off fuel imports as domestic production rises

The Iraqi government has officially suspended imports of key petroleum products, including gasoline, diesel, and kerosene, after confirming that domestic production now exceeds national consumption levels.

Egypt to resume natural gas supplies to Lebanon by end-2025

Egypt is finalising arrangements to export 650mn cubic meters of natural gas annually to Lebanon through the Arab Gas Pipeline by the end of 2025

Abu Dhabi’s capacity ambition accelerates as Exxon signals early milestone

Abu Dhabi’s campaign to cement its long-term market influence is accelerating, with comments reported by Bloomberg this week suggesting its flagship $30bn offshore expansion is running ahead of schedule.

Southern Iraq sees major rise in flared gas recovery

Iraq’s South Gas Company (SGC) has announced a significant surge in flared gas recovery across the southern oil-producing provinces, reaching 1.75bn standard cubic feet per day,a fivefold increase compared to levels recorded in 2013

Iraq's SOMO denies participation in 50,000-unit housing project in Mada'in

Iraq's State Oil Marketing Organisation SOMO denies social media reports about building 50,000-unit housing complex for Ministry of Oil in Mada'in district south of Baghdad, calling reports completely false.

Iran confirms steady gas exports to Iraq amid US sanctions pressure

Iran’s gas exports to Iraq are continuing without interruption or restrictions, despite ongoing US sanctions and the expiry of waiver exemptions

Jordan’s NPC to increase gas output tenfold at Risha by 2030

Jordan’s National Petroleum Company (NPC) plans to increase its production at the Risha gas field by tenfold, as part of its strategy to support national industry, energy security, and job creation

Oil prices continue gains after OPEC+ freezes first quarter increases

Oil prices rise for fourth session after OPEC+ announces freeze on production increases for first quarter 2026, with Brent crude jumping above $65 per barrel amid supply concerns.

Iran yet to finalise $240mn deal to develop three western oil fields nine months after groundbreaking

More than nine months after a groundbreaking ceremony for the development of three small oil fields in western Iran, the projects have yet to see their contracts finalised.

Turkish refineries reportedly buying more non-Russian crude in response to sanctions

Turkey's largest oil refineries are reportedly purchasing more non-Russian oil as they react to the latest Western sanctions imposed on Russia in relation to its war in Ukraine.

Navigating headwinds, OPEC+ pivots to price defence for Q1 2026

In a significant strategic pivot, the OPEC+ consortium is prioritising market stability and price defence over its recent campaign to recapture market share

Iran raises South Pars gas output with new infill well

Iran brought on stream the fourth well of its infill drilling project at the giant South Pars gas field, boosting gas extraction from the shared reservoir by 1.8mn cubic metres (mcm) per day, the state-run Pars Oil and Gas Co. (POGC) said.

Iran hires local firms to curb flaring at southern oilfields

Iran’s Oil Ministry awarded 12 contracts to local companies to capture associated petroleum gas (APG) from nine oil fields in what it described as the largest flare-gas recovery project in the nation’s history.

Iran widens oil discounts to China as US sanctions bite

Iran has widened the discounts on its crude oil sales to China to their largest in more than a year, as tougher US sanctions have complicated transport and delivery.

Iran begins exploration effort near Turkmenistan border

The National Iranian Oil Co. (NIOC) has launched gas exploration at a field in the remote northeast of the country near the Turkmenistan border, a local official said.

Iran gives billionaire Babak Zanjani two months to settle €2bn oil debt

Iran's judiciary gives businessman Babak Zanjani two months to settle remaining portion of €2bn debt to National Iranian Oil Company, with only €16mn paid so far, parliament member says.

Iran hires local firms to curb flaring in southern oilfields

The South Pars Gas Complex (SPGC), Iran’s biggest energy hub, recorded an unprecedented rise in gas output last year, pumping 4bn cubic metres (bcm) more gas to the national grid, the company’s chief executive said.

Oman LNG renews $10-year deal with US Baker Hughes to drive digital innovation in gas operations

Austria’s energy company OMV discovers oil in Sirte basin

Libya’s National Oil Corporation (NOC) has announced a new oil discovery in the Sirte basin, achieved through exploration operations by Austria’s OMV company

BP expands gas output in Egypt’s West Nile Delta with new well start-up

British energy major BP (LSE, NYSE:BP) has started up the RW5 gas well in Egypt’s West Nile Delta (WND) project, adding around 80mn cubic feet per day of additional supply.

Iraq, China’s CPECC inaugurate 210,000 bpd crude facility at West Qurna 1

Iraq launches a major crude oil development project in the West Qurna 1 field in Basra, in partnership with China Petroleum Engineering & Construction Corporation (CPECC)

US push to pressure Iran providing fresh incentive for trans-Caspian pipeline

Turkmenistan showing interest in the idea.

TotalEnergies awards Al Busttan EPCLO contract for Iraq’s Ratawi Pioneer Camp

Al Busttan Company for General Services has signed a comprehensive EPCLO (Engineering, Procurement, Construction, Lease, and Operate) contract with TotalEnergies EP Ratawi Hub (TEPRH) to deliver and run a fully equipped 200-person Pioneer Camp

Saudi Arabia, Iraq top US Crude Imports from OPEC in July 2025

The US imported more than 20mn barrels of crude oil from OPEC countries in July 2025, according to newly released data from the US Energy Information Administration (EIA), with Iraq ranking as the second-largest exporter among the group

Iraq sets 2028 target for gas self-sufficiency,advances energy cooperation with US

The Iraqi government has established a clear timeline to achieve its energy goals, including gas exploitation and self-sufficiency in high-octane gasoline production

Iraq targets 100,000 bpd capacity for Samawah oil refinery

The Iraqi government plans to add 70,000 barrels per day (bpd) to the Samawah refinery’s current capacity of 30,000 bpd, as part of efforts to meet domestic fuel demand in Muthanna province

Eni completes drilling of Zohr-9 gas well off Egypt's Mediterranean coast

Egypt’s Minister of Petroleum and Mineral Resources announced the completion of drilling operations at the Zohr-9 natural gas well in the Zohr field, located in the Mediterranean and operated by Eni.