MEOG - Middle East Oil & Gas
Qatar LNG disruption triggers force majeure declarations from Shell and Omani supplier
Shell and Oman's OQ declare force majeure on LNG contracts with Asian buyers after a drone strike shut down Qatar's Ras Laffan facility, the world's largest LNG export terminal.
Iran warns US against invading Persian Gulf's Kharg Island
Iran’s parliament speaker has issued a stern warning to the United States against attacking Iranian islands in the Persian Gulf, amid speculation about a potential occupation of Kharg Island, which houses the country’s main oil export terminal.
US LNG exporters to benefit from Middle East disruptions, but not to replace lost supply
US LNG producers stand to benefit from disruption in the Middle East but cannot immediately replace lost supply.
Fitch upgrades its oil price outlook to $70
Oil markets are facing renewed geopolitical uncertainty after the outbreak of conflict involving Iran and the effective closure of the Strait of Hormuz, prompting rating agency Fitch to revise its near-term energy price outlook upwards.
Egypt targets $2.3bn in gas investments to boost production
Egypt is currently planning aiming to attract investments worth $2.3bn in its natural gas sector during FY 2026/27, as part of efforts to boost production and secure domestic energy supplies
Libya records historic oil and gas production in February 2026
Libya achieved a record high in oil and gas production in February 2026, according to a March 11 statement from the National Oil Corporation (NOC).
Oil tanker attacked near Iraq’s Basra port, crew rescued
An international oil tanker was targeted near Basra Port in southern Iraq.The attack occurred in the waiting area near the Khor Abdullah waterway, approximately 11 miles from the export port caused a fire on the tanker, leading to significant damage.
Turkey’s fuel and gas supplies face no immediate risks despite Middle East conflict, says minister
Despite the ongoing US-Israeli conflict with Iran, Turkey does not foresee any immediate problems facing its fuel & natural gas supplies, though developments are being closely monitored, according to the Turkish energy minister.
US Navy says Straits of Hormuz too dangerous to traverse
The US Navy has declined repeated requests from the shipping industry to escort commercial vessels through the Strait of Hormuz since the outbreak of the war with Iran, saying it is too dangerous to traverse.
IEA agrees record release of 400mn barrels from emergency oil reserves to counter Gulf War impact
The IEA agreed on March 11 to release a record 400mn barrels from emergency oil reserves, dwarfing its 2022 Ukraine-linked release, as Iran's closure of the Strait of Hormuz and attacks on Gulf energy infrastructure drive prices higher.
SLB scales back Middle East operations and suspends regional travel amid Iran conflict
SLB has suspended staff travel to the Middle East and begun scaling back operations across several countries in the region, the oilfield services giant said on March 11, as the Iran conflict disrupts the energy sector.
Middle East conflict drives up costs faced by Turkey’s petrochemical, oil products industry
Amid the intensifying war between the United States–Israel and Iran, oil and petroleum-derived raw materials have seen price hikes over the past two weeks, putting significant pressure on Turkish industries.
Iraq exports 11mn tonnes of oil products in 2025, SOMO says
Iraq exported 11mn tonnes of oil products in 2025. Fuel oil dominated exports, followed by naphtha and jet fuel.
Chevron to run Iraq’s West Qurna 2 oilfield after lukoil exit
The Iraqi government has approved the final terms and conditions of a framework agreement signed between the federal Ministry of Oil and US energy company Chevron for the management and operation of the West Qurna 2 oilfield in Basra province.
Iranian oil prices soar to muti-year high during US-Israeli offensive
The price of Iranian light crude oil surged past $100 per barrel – the highest in more than a decade – following the US-Israeli aggression against the country and a spike in global prices.
Iran launches drone strike on Haifa refinery after Israeli attacks on fuel depots
The Iranian Army’s Air Force said it had launched a drone attack on Haifa oil refinery and fuel storage facilities in Israel days after deadly airstrikes on fuel depots in Iran.
Saudi Aramco profits fall 11.6% to SAR348bn in 2025 as oil prices weigh
Saudi Aramco posted a net profit of SAR348bn ($92.8bn) for 2025, down 11.6% and below forecasts, as lower oil prices weighed on revenues. The board declared a quarterly dividend of 33 halalas per share.
Aramco warns of 'catastrophic consequences' for oil markets if Hormuz disruption continues
Aramco CEO Amin Al-Nasser has warned of catastrophic consequences for global oil markets if Hormuz shipping disruption continues, as Brent crude trades at $93 per barrel on March 10.
Saudi Arabia intercepts 23 drones targeting Shaybah oilfield in single day
Saudi air defences shot down 23 drones targeting the Shaybah oilfield on March 9, as Iran's retaliatory campaign against Gulf energy infrastructure and US military assets continues to intensify.
Gulf producers shut in 6.9mn bpd as blockade forces export pivot
Gulf producers have shut in nearly seven million barrels per day of crude output as the Strait of Hormuz blockade forces a strategic shift westward.
Iran warns against targeting energy infrastructure following storage strike
Iran has issued a stark warning to the US and Israel against further strikes on its critical energy infrastructure, threatening reciprocal action across the Middle East.
Central Asia shaken by fears of huge acid rain cloud heading to region from Iran
Officials struggle to convince inhabitants that the science shows Israeli bomb strikes on Iranian oil depots cannot lead to such a nightmare.
The Straits of Hormuz have closed, but a trickle of tankers still getting through
Iran’s military declared the Straits of Hormuz were shut on March 2 and traffic fell to nearly zero within a day. But it is not at zero. At least five ships have traversed the passage since the blockade began.
Israel resumes limited gas exports to Egypt
Natural gas supplies from Israel to Egypt have begun to trickle back into the regional grid, albeit at a fraction of their usual capacity
VIDEO: Bahrain’s Bapco halts oil operations following Iranian attack
Bahrain's national energy company Bapco Energies declared a force majeure on operations following an Iranian drone attack on its refinery complex in Sitra during the early hours of March 9.
'Rivers of fire' engulf Tehran streets as oil from bombed depots
Israeli strikes on Tehran fuel depots sent burning oil flooding through the city's drainage system, creating rivers of fire in residential streets and toxic black rain across the capital.
Oil price spike at over $100 per barrel as market faces possibly worst crisis in history
Brent was trading at over $108 per barrel as of 06:30 GMT today, up from the early $70s prior to the US and Israel launch of strikes against Iran on February 28.
PetroShorouk earmarks $524mnn to develop Egypt's Zohr gas field in FY 2026/27
PetroShorouk, the venture responsible for managing and developing Egypt’s Zohr gas field, has allocated investments worth $524mn to develop and expand the field during FY 2026/27.
Saudi Arabia intercepts Iranian attacks on strategic infrastructure
The Saudi defence ministry has confirmed the interception of four drones and a ballistic missile, underscoring the persistent security risks to the Kingdom’s critical energy and military assets.
Two dead, four injured in Algerian Hassi Messaoud oil field blaze
Two workers have been confirmed dead and four others injured following a fire at Algeria’s Hassi Messaoud oil field, the largest in Algeria.
QatarEnergy declares force majeure on LNG exports
Gulf state warns that other energy exporters will likely need to follow suit or risk legal liability for failure to deliver cargoes.
Iran offers free CNG fuel at selected stations in Tehran and Karaj
Selected CNG stations in Tehran and Alborz have begun offering free compressed natural gas to dual-fuel vehicles as part of a campaign to manage fuel consumption and support motorists during a period of heightened energy demand.
Kuwait forces contain fire at airport after drone hits fuel tanks
Authorities in Kuwait have successfully contained a fire that broke out in fuel tanks at Kuwait International Airport, following a drone attack.
Foreign oil firms evacuate staff from Iraq amid rising Iran tensions
Several foreign oil companies have begun evacuating their overseas employees from Iraqi oil fields to Kuwait, amid fears of escalating conflict in the region
Gulf crude benchmarks surge as Kuwaiti oil jumps 10% and Brent nears $85 amid regional conflict
Kuwaiti crude jumps 10% to $92.81 per barrel as the Gulf conflict disrupts shipping through the Strait of Hormuz and threatens production across the region's energy exporters.
Qatar's energy minister warns Gulf-wide production shutdown looms
Qatar's energy minister warns all Gulf exporters face production shutdown within weeks, forecasting $150 oil and gas prices quadrupling as the Iran conflict chokes global energy flows.
Egypt activates second gas production well at West Burullus
Egypt’s Ministry of Petroleum and Mineral Resources said that a second gas well at the West Burullus field, part of Cairn Energy’s (LSE: CNE) investments, has been brought into production at a rate of 12mn cubic feet per day
India's Petronet LNG declares force majeure after QatarEnergy notice
India’s biggest LNG importer, Petronet LNG, has received a Force Majeure notice from QatarEnergy (QE), and as a result PLL has issued corresponding Force Majeure notices to companies that it supplies LNG to.
Pakistan seeks Saudi oil route via Red Sea as Hormuz closure disrupts supply
Pakistan has asked Saudi Arabia to help secure crude oil shipments through the Red Sea port of Yanbu as the closure of a key Gulf shipping route threatens the country’s energy supply chain
Bangladesh scrambles for LNG supplies after QatarEnergy declares force majeure
Bangladesh is facing the risk of fuel shortages within days after a disruption in liquefied natural gas (LNG) supplies forced authorities to urgently seek alternative cargoes in the global spot market
Oil production halts loom as Gulf storage facilities rapidly fill towards capacity
US President Donald Trump has said that he thinks the conflicts in Iran will go on for about a month. However if it lasts only four weeks then all of Iraq, Kuwait, UAE, and Qatar will be forced to shut down production after they run out of storage,
Fire breaks out at Bapco Energies refinery in Bahrain after Iranian missile attack
A limited fire broke out at a unit of the Bapco Energies refinery in Bahrain following an Iranian missile attack.
Kuwaiti Petroleum Corporation confirms that oil activities remain fully operational
Kuwait Petroleum Corporation confirmed that its oil operations remains fully operational amid regional tensions.
US shale unlikely to replace Middle Eastern oil, industry players and analysts warn
The shale industry cannot increase production rapidly enough to replace any supply disrupted as a result of the conflict in Iran in the near term, according to warnings from both industry participants and analysts.
Subsea7 awarded Turkish Petroleum Offshore Technology Center order relating to development of Black Sea gas field Sakarya
Subsea7 on March 4 announced the award of a large variation order by Turkish Petroleum Offshore Technology Center (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Turkey.
Iraq experiences total power blackout, causes under investigation
The Iraqi Ministry of Electricity announced on March 5 that the country is experiencing a complete power outage across all provinces.
QatarEnergy declares force majeure on LNG shipments amid Gulf conflict
QatarEnergy declares force majeure on LNG deliveries after suspending production, threatening global gas supplies as the Gulf conflict disrupts the world's largest LNG exporter.
Drone attack shuts Saudi Aramco refinery as oil prices skyrocket over Iran war
A drone attack on Saudi Aramco’s Ras Tanura refinery has forced its shutdown amid a dramatic spike in oil prices in the wake of a US-Israeli offensive against Iran.
‘Nearly ten’ vessels hit by Iran in Strait of Hormuz, local media says
Iranian forces have struck “nearly ten” oil tankers and ships in the Strait of Hormuz since the outbreak of a US-Israeli war on Iran.
78 injured as submarine attacks Iranian naval vessel off Sri Lanka's coast
At least 78 Iranian sailors injured after submarine attack on naval vessel IRIS Dena off Sri Lanka's coast, with rescue operations under way near the city of Galle.
Algeria set to boost LNG exports amid regional tensions and rising demand
Algeria is preparing to increase its presence in the global liquefied natural gas (LNG) market by enhancing its spot sales, driven by expected demand spikes due to the ongoing war with Iran and potential supply chain disruptions
Iraq reportedly suspends piped oil shipments to Turkish Mediterranean export hub Ceyhan
Iraq has reportedly suspended all crude oil exports piped to the Turkish Mediterranean port of Ceyhan from its semi-autonomous Kurdistan region amid consequences of the conflict in the Middle East.
New Delhi says it is prepared to handle energy disruptions amid Middle East tensions
The Indian government has asserted that the country is fully prepared to manage any short-term energy disruptions arising from the outbreak of hostilities in the Middle East and the evolving global energy situation.
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