MEOG - Middle East Oil & Gas
Maduro’s ouster puts Iranian energy claims from Venezuela in doubt
The capture of Venezuelan President Nicolas Maduro by the US has thrown into doubt Iran’s relations with one of its closest allies as well as its ability to recover billions of dollars in outstanding claims linked mainly to energy cooperation.
Iran adds more rigs at South Pars to maximise gas output
Iran’s state-run Pars Oil and Gas Co. (POGC) has doubled the number of drilling rigs operating at its South Pars gas field to 10, a move that has helped push natural gas extraction at the field to a record level, the company’s CEO said.
Turkey’s energy minister commends country’s first publicly-owned floating storage and regasification unit
Turkey’s first publicly-owned floating storage and regasification unit (FSRU) has so far provided 9.3bn cubic metres (bcm) of natural gas to the national transmission system, according to Energy and Natural Resources Minister Alparslan Bayraktar.
Turkey strikes new long-term agreement to import 33bcm of natural gas from Azerbaijan
Turkey has struck a new long-term agreement under which it will import 33bn cubic metres (bcm) of natural gas from Azerbaijan, Turkish Energy Minister Alparslan Bayraktar said on January 4 in a televised interview.
Iran restarts unit at Fajr Jam gas refinery damaged in June Israeli attack
A unit at Iran’s Fajr Jam gas refinery in the southern province of Bushehr has restarted operations after repairs, months after the facility was hit during Israel’s June aggression.
Geopolitical volatility triggers OPEC+ retreat to market neutrality
The leading factions of the OPEC+ alliance have opted to maintain current crude production ceilings
New infield wells see Iran’s South Pars gas output hit record
Iran’s Oil Minister Mohsen Paknejad said natural gas extraction from South Pars surged to an all-time high of 725mn cubic metres (mcm), helped by drilling new in-field wells at the world’s largest gas field.
Iraq’s IDC completes 237 oil well projects in 2025
The Iraqi Drilling Company (IDC) announced it completed drilling and rehabilitation operations on a total of 237 oil wells during 2025, as part of efforts to support crude production targets across Iraq’s major oilfields
Iraq’s PM urges continued talks with US energy major Chevron for further investments
Iraqi PM Mohammed Shiaa al-Sudani has called for continued discussions between the Ministry of Oil and US energy major Chevron to identify the most effective investment mechanisms for Iraq’s oil sector
Iran researchers unveil major recovery plan for Kupal oilfield
Iranian researchers have drawn up an implementation-ready plan to raise recovery rates at the Kupal oilfield in the oil-rich southwestern province of Khuzestan, potentially allowing the extraction of at least 1bn additional barrels of crude.
Egypt and Qatar sign LNG supply agreement for Sokhna and Damietta facilities
Egypt's EGAS and QatarEnergy signed LNG supply deal for Sokhna and Damietta ports as Cairo secures summer gas supplies and targets return to net exporter status by 2027 with domestic production growth.
Kuwait targets offshore expansion following exploration success
Kuwait is intensifying its efforts to unlock significant offshore hydrocarbon reserves, a strategic shift designed to meet its 2040 production targets
Italian Saipem clinches $600mn Aramco offshore EPC awards in Saudi Arabia
The Italy-based engineering group tightens its grip on Saudi offshore work after landing $600mn in Aramco EPC contracts, showing steady upstream spending despite oil price volatility.
Saudi Aramco awards US oilfield services firm SLB five-year unconventional gas contract
Saudi Aramco awarded a five-year contract to US oilfield services group SLB to provide stimulation and related services for its unconventional gas fields.
China-Iran trade plunges 24% as sanctions bite and Beijing shifts oil suppliers
China-Iran trade plunges 24% to $9.09bn in first 11 months of 2025 as Beijing shifts to Russian crude whilst banking constraints and US sanctions pressure weaken bilateral commerce despite strategic cooperation claims.
Iran, Belarus move to implement oil cooperation deal
Iran and Belarus said their bilateral oil cooperation was moving into an implementation phase after officials reviewed practical steps to execute a joint oil memorandum of understanding.
Oil tankers appear to be cleaving to Georgia, Turkey Black Sea coasts to cut risk of Ukraine drone attacks, says report
Oil tankers carrying Russian crude across the Black Sea appear to be cleaving to the Georgian and Turkish coasts to cut the risk that they will be targeted by Ukrainian sea drones, according to a December 18 report from Bloomberg.
United States sanctions 28 vessels in Iran's shadow fleet, targets ICC judges
US Treasury sanctions 28 vessels and 18 shipping companies in Iran's shadow fleet whilst designating two ICC judges, as part of effort to increase pressure on Iran's sanctions evasion activities.
Israel approves $35bn gas export deal with Egypt
Israeli PM Netanyahu approves $35bn natural gas export deal with Egypt from Leviathan field, with US administration viewing agreement as means to improve relations strained by Gaza war.
Iraq's central bank links reserve decline to oil prices
Iraq’s central bank confirmed that falling oil prices and the withdrawal of liquidity from markets are negatively affecting the country’s foreign currency reserves
Iraq discusses Basra gas project at UAE JCC meeting
Iraq discussed the investment project for the Bin Omar gas field in Basra province during a meeting of the Joint Coordination Committee (JCC) held in the UAE
Iraq’s Basra crude prices fall despite global rise in oil markets
Prices of Iraq’s Basra Heavy and Basra Medium crude grades declined on December 18, bucking a broader rise in global oil markets
Israel approves $35bn Egypt gas export deal linked to Leviathan field
Israel has approved a $35bn natural gas export agreement with Egypt, expected to build on Leviathan-linked exports and deepen Eastern Mediterranean energy cooperation while supporting Egypt’s LNG export capacity.
Iranian business leader alleges corruption blocking oil revenues
An Iranian business leader accused Iran's Central Bank and the Oil Ministry of “clear corruption”, claiming that billions of dollars in oil revenues had failed to return to the country due to the use of intermediary trusts and exchange houses.
Iran feeds associated gas into national grid from western plant
An associated petroleum gas (APG) processing plant in western Iran has pumped treated gas into the national trunkline for the first time, as cold weather drives up energy demand in the country.
Egypt approves $208mmn oil and gas agreements in Western Desert
The Egyptian cabinet has approved a draft law endorsing a concession agreement for the exploration, development and production of oil and gas in the Badr El-Din Integrated Area in the Western Desert
Jordan bans production and sale of gas heaters over safety concerns
Jordan has permanently banned the production, sale and circulation of all types of gas heaters commonly known as “Shamousa” and similar models, warning that violators will face legal accountability
Erdogan urges Russia, Ukrain to stop targeting Black Sea vessels
Turkish President Recep Tayyip Erdogan on December 15 urged Russia and Ukraine to stop targeting vessels on the Black Sea, addressing an event organised by Turkey’s foreign minister to bring together Turkish ambassadors in Ankara.
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