MEOG - Middle East Oil & Gas
Iraq to avoid Hormuz by exporting oil from southern fields via Turkey
Iraq is said to be pushing a plan that would see oil exports from its southern oilfields avoid the Strait of Hormuz transit chokepoint by using pipelines and trucks running north through Turkey.
More than $5bn of energy opportunities available at Iran’s Lavan Island
More than $5 bn worth of investment opportunities are available in oil and gas fields operated by the Iranian Offshore Oil Co. (IOOC), its CEO Ahmadreza Rasti said, as Tehran seeks to ramp up development of key offshore assets in the Persian Gulf.
Hormuz crisis inflicts $37bn blow to Iraq’s economy
Iraq’s economy has come under significant pressure following the recent regional conflict and the temporary closure of the Strait of Hormuz, exposing deep structural vulnerabilities linked to its heavy reliance on oil revenues.
Algeria and Saudi Madar Energy accelerate Illizi South oil partnership
Algeria and Saudi firm Madar Energy North Africa are accelerating the implementation of the $5.4bn Illizi South hydrocarbons project, with both sides reviewing preparations for the contract's entry into force, covering technical and regulatory aspect
Libya's NOC launches reverse-flow gas operation to power Ruwais Power Station
Libya's state-run utility National Oil Corporation (NOC) said that engineers at the country’s Mellitah Oil and Gas Field have successfully implemented an innovative reverse-flow operation to supply natural gas from the Mellitah industrial complex.
After poultry raid failure, Turkey moves against fuel and LPG industry, seizes six companies
27 businessmen detained in coordinated raids spanning nine provinces.
Iran, Oman agree joint committee on Strait of Hormuz shipping
Iran and Oman have agreed to form a joint foreign-ministry committee on the future management of shipping through the Strait of Hormuz, a joint statement says, while reaffirming safe passage and their sovereignty over the waterway.
Etihad Energy plans Fujairah refinery
Etihad Energy Holding Company is planning an AED 1.1bn–1.3bn refinery in Fujairah dedicated primarily to 95-octane gasoline production.
OQEP signs upstream MoU with Indonesia's Pertamina Hulu Energi
Oman's OQEP has signed an MoU with Indonesia's Pertamina Hulu Energi to explore joint oil and gas investments in Oman, Indonesia and other markets, extending the upstream firm's widening network of international partnerships.
Egypt settles Dana Gas arrears as drilling triples expectations
UAE-based Dana Gas (ADX:DANA) has cleared all outstanding arrears with the Egyptian government after receiving a final payment of $21.5mn
Iran says US has issued licence for oil sales with banking, insurance cover
The United States has issued the licence needed to sell Iranian oil, petrochemical products and oil derivatives, along with the related insurance, transport and banking services, according to Iran.
Iran says Switzerland four-way talks collapsed after US threats
Iran's foreign ministry says four-way talks in Switzerland with the US, Pakistan and Qatar failed to reconvene after threatening US statements, with later contact running only through mediators, giving Tehran's account of the round.
Iran, Tajikistan hold oil supply talks to cement energy ties
Iran and Tajikistan have held high-level talks in Tehran on expanding cooperation in oil and petroleum products trade, with discussions focusing on meeting part of Tajikistan’s energy needs and boosting economic ties.
Sharjah oil and product terminal expanded
Regal Petro Trading FZE has completed a significant expansion of its oil storage terminal in Sharjah’s Hamriyah Free Zone
US eases Iran oil sanctions, price on Brent crude drops over 3.5%
The United States has partially lifted sanctions on Iranian oil exports following what officials have described as encouraging progress in negotiations aimed at ending hostilities between Washington and Tehran.
Turkey’s foreign minister meets Trump’s co-in-law 'fixer' in Cairo
Lebanese-born billionaire Massad Boulos is a man with a unique portfolio. He serves as US senior advisor for Arab and African affairs. His son is married to Tiffany Trump.
Iran installs platform at offshore Reshadat oilfield
Iran has set up a colossal oil processing platform at the Reshadat oil field in the Persian Gulf, a move expected to significantly expand offshore production capacity and step up development at one of the country’s most important energy assets.
Iran says progress made on oil waivers in first round of talks with US
Iran said “favourable progress” had been achieved on issuing waivers for the sale of crude oil and petroleum products during the first day of negotiations with the United States following the signing of a peace memorandum last week.
QatarEnergy says explosion at Barzan gas plant kills 13
An explosion at Qatar's Barzan gas plant in Ras Laffan killed 13 people and injured 66 after an operational incident during start-up, QatarEnergy said, with the energy minister stressing it was an accident, not sabotage.
Kuwait tenders first spot naphtha cargo since Iran conflict escalation
Kuwait Petroleum Corporation (KPC) has issued a tender to sell spot naphtha cargoes for loading in July, marking its first such offering since tensions between the US and Iran escalated.
Iraq to export 50,000 bpd of crude via Syria from July
Iraq is preparing to begin exporting around 50,000 barrels per day (bpd) of crude oil through Syria from July, as part of a government strategy to diversify export routes and reduce reliance on traditional Gulf shipping corridors.
Syrian Petroleum Company inaugurates steam boiler project at Homs refinery
The Syrian Petroleum Company (SPC) has commissioned a new Serbian-made steam boiler at the Homs refinery, in a move aimed at supporting production operations and improving the facility's operational readiness.
US lifts Iran oil sanctions for 60 days as exports surge
The United States has temporarily lifted sanctions on Iran’s oil sector for 60 days, allowing the Islamic Republic to produce, sell and deliver crude oil and related products as Washington and Tehran press ahead with negotiations.
Libya hits highest oil output since 2013
Libya’s crude oil production has reached 1.43mn barrels per day (bpd), marking its highest output level since 2013
Explosion at Qatari gas facility injures 54 with 18 missing
An explosion at the Barzan local gas supply facility in Qatar's Ras Laffan Industrial City injured 54 people on June 21, Qatar’s interior ministry confirmed in a press statement on June 22.
Iran, US agree 60-day roadmap to final deal in joint Zurich statement
Iran and the United States have agreed a 60-day roadmap towards a final agreement and a high committee to oversee negotiations, in a joint statement at the close of the first round of talks in Switzerland.
Iran oil sales gather pace after US lifts naval blockade
Iran’s crude oil exports are gaining steam after a peace memorandum with the United States led to the lifting of a naval blockade on Iranian ports and vessels, allowing oil shipments to resume after months of disruption.
Iran says energy investment will be litmus test of post-agreement ties with West
Iran’s Oil Minister Mohsen Paknejad said investment in the country’s petroleum industry would become the principal test of whether Western stakeholders remain committed to a new agreement between Tehran and Washington.
Iran resumes crude loadings at Kharg Island after six-week halt
Iran has resumed oil exports from its main export terminal on Kharg Island after a break of about six weeks, opening the floodgates to shipments following the easing of a naval blockade under an interim peace memorandum between Iran and the US.
Iraq targets 4.3mn bpd oil output and 3.5mn bpd exports under recovery plan
Iraq announced that restoring production from the country's southern oilfields to pre-Gulf crisis levels and increasing crude exports will be among the ministry's top priorities in the coming period.
Iran’s second opening: where the smart money should go
Presuming the fragile truce holds, a new MoU will allow global energy companies to invest in reconstructing Iran’s vast, undamaged oil and gas reservoirs
Iran says Strait of Hormuz completely closed
Iran's Khatam al-Anbiya Central Headquarters has said it will close the Strait of Hormuz to shipping again, citing US violations of the war-ending memorandum and continued Israeli attacks in southern Lebanon.
Iran's Gulf waterway body sets terms for Strait of Hormuz passage
Iran's Persian Gulf waterway management body has set out terms for vessels seeking to pass through the Strait of Hormuz, following the signing of the Islamabad memorandum.
Iraq faces export vulnerability as Gulf states expand alternative oil routes
Iraq is facing increasing pressure on the security and resilience of its oil export routes as Gulf states accelerate efforts to develop alternative shipping and pipeline corridors that bypass the Strait of Hormuz.
Iran says shipping restrictions at southern ports lifted after US deal
Commercial shipping traffic to Iran's southern ports has returned to normal after the United States lifted a blockade line at the entrance to the Gulf of Oman, Iran's shipping association has said.
ING flags risks to Hormuz reopening as US-Iran MoU starts the clock on talks
ING warns markets are too optimistic on how fast the Strait of Hormuz will reopen under the new US-Iran MoU, with mine clearance and insurance set to slow the return of oil flows for months.
PetroChina and Indian Oil fail to secure tankers for Iraqi crude shipments
Chinese and Indian oil buyers have faced difficulties securing very large crude carriers (VLCCs) to transport Iraqi crude from Basra ports amid soaring freight rates and tightening vessel availability.
Libya’s Sirte Oil hits high-yield well at Al-Khair field
Libya’s state-owned National Oil Corporation (NOC) announced that its subsidiary, Sirte Oil Company for Production and Manufacturing of Oil and Gas, has completed a development well at the Al-Khair oilfield
Egypt signs gas expansion deals with Harbour Energy, Eni
Egypt has signed new agreements on June 17 with British firm Harbour Energy (LSE:HBR) and Italy's Eni (BIT:ENI) to raise natural gas production and establish an economic framework to stimulate foreign investment
Switzerland to host preliminary Iran-US talks following interim peace deal signing
Switzerland to host Iran-US preliminary talks on June 20, with Pakistan and Qatar as mediators, following the signing in Evian by Trump.
Iranian state driller orders two heavy onshore rigs to modernise fleet
The National Iranian Drilling Co. (NIDC) has signed a contract with a quasi-governmental scientific research organisation to build two heavy onshore drilling rigs, the company's chief executive said.
Three Iranian tankers exit Hormuz blockade in first crude exports in two months
Three tankers carrying Iranian crude oil have sailed through the Strait of Hormuz for the first time since the United States imposed a naval blockade against Iran in mid-April, a vessel tracking website said.
Iran business leaders urge shift from Chinese contracting to investment
Iran's private sector has urged Parliament Speaker Mohammad Bagher Ghalibaf to use his upcoming visit to China to attract more Chinese investment.
Israel's Tamar gas field posts 45% output rise
Israel's Tamar offshore gas field recorded output of 16 BCM for the 12 months ending June 2026, a 45% y/y increase.
Qatar vows to restart full output of LNG facilities in one month
State-run QatarEnergy has pledged it could return to producing LNG at its Ras Laffan Industrial Complex abruptly and could achieve full output at undamaged trains within a month.
Turkey says ‘No’ to Baghdad proposal for extension of Kirkuk-Ceyhan oil pipeline agreement
Current conditions proposed by Baghdad for an extension of the current Iraq-to-Turkey (Kirkuk-Ceyhan) oil pipeline agreement are not satisfactory, a senior Ankara official said on June 16, as reported by Reuters.
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