MEOG - Middle East Oil & Gas
Libyan army regains control of Mellitah oil and gas complex following protests
Libya’s Government of National Unity (GNU) announced that military forces have secured the Mellitah oil and gas complex, restoring gas flow to domestic power plants after angry demonstrators forcibly shut down the facility
Saudi Arabia vows decisive response as Iraq-launched drones hit oil sites again
Saudi Arabia's cabinet has vowed a decisive response to attacks on its oil facilities and shipping by Iran-aligned groups in Iraq and Yemen. Hours later the defence ministry intercepted a second wave of drones launched from Iraq.
Saudi Arabia intercepts second wave of Iraq-launched drones at oil sites
Saudi Arabia has intercepted a second wave of drones launched from Iraq at oil facilities in its Eastern Province. Riyadh says it reserves the right to respond at a time and place of its choosing, raising the prospect of action inside Iraq.
DNO Kurdistan output collapses during Q2
DNO is restarting operations in the Kurdistan Region of Iraq after second-quarter output there hit a historic low
Iran says European warships near Hormuz are legitimate targets
Any European warship approaching the Strait of Hormuz is a legitimate target, Iran's deputy foreign minister for legal affairs has said, adding that Tehran's policy is that the waterway will never return to its pre-war condition.
Iraq, Turkey activate water framework agreement, linking Tigris-Euphrates cooperation to oil revenues
Italy's Edison reports extended force majeure on Qatari LNG shipments
QatarEnergy has extended force majeure on LNG supplies to Italy’s Edison through the end of September, adding three cargoes to the volumes it is unable to deliver because of the continuing disruption to Qatari exports.
Iran rolls out nationwide energy-saving drive to ease gas shortfall
Iran is running a major nationwide energy-saving programme involving private-sector efficiency firms to partially alleviate its chronic gas shortfall, Deputy Oil Minister Saeed Tavakkoli said.
Oman steps up regional diplomacy to safeguard Strait of Hormuz security
Oman held a series of high-level consultations with regional foreign ministers as diplomatic talks intensify to preserve regional stability and safeguard maritime trade through the Strait of Hormuz.
Qatar extends LNG force majeure to Europe
QatarEnergy has extended force majeure on LNG shipments to European customers until the end of September, deepening a supply disruption that has persisted since the start of the Iran war.
Iraq's crude exports surpass 32mn barrels in May-June period
Iraq exported more than 32mn barrels of crude oil during May and June, generating more than $2.3bn in revenue, oil exports continue to provide the vast majority of Iraq's government income.
Iraq faces worsening fuel shortage as diesel queues grow in Baghdad
Iraq's oil ministry is preparing to import diesel as queues lengthen at Baghdad filling stations, eight months after the prime minister ordered fuel imports halted on the grounds that the country had reached self-sufficiency.
Hydropower boom saves Turkey $5bn in energy imports, says industry group
Turkey’s hydropower sector has posted its strongest performance on record this year, significantly reducing the country’s reliance on imported energy sources.
Annual overhaul starts at South Pars Refinery 12
Iran has begun an eight-day annual overhaul at Refinery 12 of the South Pars Gas Complex (SPGC), focusing on improving equipment reliability and process efficiency.
TotalEnergies, Eni approve Cyprus' Cronos gas field via Egyptian infrastructure
French TotalEnergies and its Italian counterpart Eni took Final Investment Decision to develop the Cronos gas field offshore Cyprus, establishing a subsea pipeline route to process and liquefy the gas in Egypt before exporting LNG to Europe
Iran speeds up Kharg oil terminal projects amid US threats against export island
Iran is pressing ahead with the completion of development and infrastructure projects at its Kharg Island oil terminal, a senior Oil Ministry official said, as the United States continues to threaten to seize the island.
India buys over $700mn of Iranian crude during Hormuz disruption
India imported more than $700mn worth of Iranian crude oil at the height of the conflict in the Strait of Hormuz, where fighting has severely disrupted energy flows through the strategic waterway since early March, according to Indian official data.
Iran launches South Pars Hub 1 pressure boosting
Iran has moved its long-delayed pressure boosting scheme for South Pars Hub 1 into execution
Egypt purchases spot LNG cargoes for August delivery
Egyptian energy companies have contracted additional spot cargoes of liquefied natural gas (LNG) for delivery in August 2026 to manage surging peak-summer electricity demand
Yemen says drones hit Saudi crude lines to Yanbu, Riyadh blames Iraq
Yemen's armed forces say they hit crude transfer lines running from Saudi Arabia's Eastern Province to Yanbu with drones. Riyadh confirmed oil facilities in the Eastern Province were struck but claimed the drones were launched from Iraq.
Jordan advances $750mn Risha gas field expansion plan
Jordan's National Petroleum Company (NPC) is preparing to launch the Risha gas field development project with a planned investment of $550mn-$750mn.
Lebanese prime minister arrives in Iraq to advance Kirkuk-Tripoli pipeline talks
Lebanese Prime Minister Nawaf Salam arrived in Baghdad to advance energy cooperation with Iraq, with the revival of the Kirkuk-Tripoli crude oil pipeline emerging as the centrepiece of talks.
Asyad Shipping sells 20% stakes in two newbuild LNG carriers to Omani investors
Asyad Shipping, the majority state-owned Omani maritime transportation company, has sold a 20%t stake in each of its two newbuild liquefied natural gas (LNG) carriers to two local institutions, the publicly listed company announced on July 27.
Iraq approves MoU for oil export pipeline through Syria
Iraq's cabinet has authorised the chief executive of Basra Oil Company to sign a memorandum of understanding (MoU) between Iraq's Oil Ministry and Syria's Energy Ministry to develop an oil pipeline linking Iraqi crude production.
Iraq records $93bn in exports, ranks third among Arab countries in 2025
Iraq ranked third among the largest Arab exporting countries in 2025, with exports worth $93bn, according to World Trade Organisation data, showing the country's continued reliance on oil exports despite a decline from the previous year.
Iran to launch first smart oilfield project at Darkhoein to prevent failures
Iran’s state-run Arvandan Oil & Gas Co. (AOGC) is set to start the first “smart oilfield” project at the Darkhoein field in the oil-rich southwestern province of Khuzestan to implement predictive monitoring at the field, its CEO said.
QatarEnergy extends force majeure on LNG deliveries to mid-October
The world’s second-largest exporter, Qatar, has prolonged force majeure through to mid-October on deliveries of LNG cargoes to some of its Asian buyers.
Baghdad greenlights Syria pipeline, Akkas talks with ConocoPhillips
Iraq’s cabinet has approved upstream and midstream measures to broaden crude export routes and accelerate field development
OPEC and the next surplus
A post-war return of constrained barrels could tip today’s uneasy balance into oversupply, forcing OPEC+ back into a market-share struggle it may no longer control.
Has Ukraine declared war on Iran?
Ukraine's Caspian strike killed an Iranian sailor and drew a retaliation threat from Tehran. Kyiv calls it interdicting the Iran-Russia arms route, but firing on a third state's vessel outside any declared war raises a harder question.
Egyptian petroleum product exports top $2.3bn in H1 2026
Egypt’s petroleum product exports reached over 2.3mn tonnes during H1 2026, generating nearly $2.3bn and matching the total export volume achieved in all 2025
Kuwait seals $16bn Shaheen pipeline investment agreement
Kuwait Petroleum Corporation (KPC) has signed a $16bn Shaheen project agreement with a consortium of leading global infrastructure investors to lease and lease back the country's domestic and crude oil export pipeline network.
Iran says it earned $18bn from oil during war and ceasefire
Iran raked in $18bn from oil sales during its recent war with the United States and the ceasefire that followed, the Oil Ministry said, adding that the revenues provided a major boost to government finances despite months of disruption to exports.
BP to add 80mn cubic feet of gas daily from offshore Mediterranean well
Egypt’s petroleum sector, in partnership with British energy major BP (LSE:BP), is preparing to bring the North Fayoum-4 offshore well in the Mediterranean Sea into production
Iraq holds oil export talks with Turkey ahead of PM visit
An Iraqi government delegation has held talks in Turkey on establishing a mutually agreed mechanism to resume and expand Iraqi oil exports through Turkish export routes.
Ukraine claims responsibility for Caspian oil platform and ship attacks
Ukraine has claimed responsibility for drone strikes on an oil platform owned by Russia’s Lukoil, two sanctioned cargo vessels and a Russian missile boat in the Caspian Sea, extending Kyiv’s campaign against Russian energy infrastructure.
Power shortages threaten Arbaeen services as pilgrims arrive in Iraq's Karbala
Power shortages are raising concerns over the delivery of essential services during the Arbaeen pilgrimage in Iraq's Karbala province, as officials warn that electricity supplies remain inadequate despite the arrival of millions of visitors.
Iran, Armenia eye increased gas trade
Iran currently supplies Armenia under a gas-for-power barter arrangement, with Yerevan returning electricity generated from Iranian gas.
Speaker warns no one will export oil if Iranian exports blocked
Iran will not allow any country in the region to sell oil if it is prevented from exporting its own crude, Parliament Speaker Mohammad Baqer Ghalibaf warned, as tensions are running high around the Persian Gulf and the strategic Strait of Hormuz.
KKR-led consortium leases Kuwaiti pipeline network in $16bn deal
Kuwait Oil Co. has signed a $16bn pipeline lease-and-lease-back deal with a consortium led by KKR
ADNOC aims to reach 6mn-bpd target ahead of schedule
ADNOC is reviewing plans to accelerate its oil production capacity to 6mn bpd by 2031
Iran war closes Hormuz, Bab al-Mandeb simultaneously for first time ever
For the first time since records began, both of the Middle East's great oil chokepoints are shut at once for the first time ever. The Strait of Hormuz has been effectively closed since February 28, and now Bab al-Mandeb Strait is also shut.
Iraqi-Syrian oil pipeline deal opens door for major Lebanese oil sector revival
An Iraqi-Syrian agreement to rehabilitate the Haditha-Banias oil pipeline has revived debate around the Kirkuk-Tripoli pipeline, potentially providing significant economic benefits to Lebanon.
US-based Quantum Capital eyes long-term energy portfolio in Egypt
US energy investment firm Quantum Capital Group is exploring investment opportunities across Egypt’s oil and gas sector with plans to build a long-term investment portfolio
Jordan's crude oil imports rise 41.9% in first five months of 2026
Jordan's imports of crude oil and petroleum products rose 41.9% in the first five months of 2026 compared with the same period a year earlier.
Yemenis vow to extend Saudi blockade to Jeddah, Yanbu
A senior Houthi adviser said the movement's naval blockade of Saudi Arabia will expand from Jizan to Jeddah and Yanbu, the Red Sea terminal Riyadh has used to bypass the closed Strait of Hormuz, after Trump threatened military retaliation.
Riyadh's Red Sea lifeline comes under fire
Confronted with a Houthi naval blockade and burning tankers off Yanbu, Saudi Arabia's carefully engineered workaround to Hormuz is unravelling just as Asian refiners scramble for alternatives.
Brent tops $100 as Houthi strikes on Saudi tankers threaten Red Sea route
Brent crude broke $100 a barrel on July 23 for the first time since May 26 after Houthi forces struck two Saudi tankers in the Red Sea, threatening the export route Riyadh has used to bypass the closed Strait of Hormuz.
Houthis strike Saudi tankers as Red Sea route unravels
Yemen said on July 23 it had struck two Saudi oil tankers in the Red Sea, opening a second front against global crude flows.
Oman urges restraint as Red Sea tensions threaten regional stability
Oman has expressed concern over the latest developments in the Red Sea, warning that further escalation could undermine regional security and threaten freedom of navigation along one of the world’s most important maritime trade routes.
Japan doubles oil imports in June
Middle Eastern deliveries rose to around 1.2mn bpd from just over 800,000 bpd in May, but remained 40.6% lower year on year.
Nofar Energy in talks to acquire Phoenix Insurance's $497mn stake in Israeli natural gas plant
Nofar Energy is in talks to acquire Phoenix Insurance's entire 39.5% stake in the Reindeer natural gas power plant project for ILS 1.8bn.
Turkey’s gas, crude purchases up 3% y/y in May
Turkey’s natural gas imports rose 2.95% y/y to 3.64bn cubic metres (bcm) in May, while oil and petroleum product imports increased 2.97% y/y to 4.09mn tonnes, according to monthly reports issued by the Energy Market Regulatory Authority (EPDK).
Iran steps up strikes on Kurdish bases in northern Iraq,Yemenis hit Saudi tankers in Red Sea
Iran steps up drone and missile strikes on Iranian-Kurdish opposition bases at Erbil and Sulaymaniyah, with fresh attacks reported July 22. A US service member was killed July 18 by ordnance from a downed Iranian drone.
Iran threatens regional energy infrastructure if US hits its bridges, power plants
Iran's Khatam al-Anbiya headquarters says its forces will target oil, gas and power infrastructure across the region and block all oil exports if the US acts on Trump's threat to bomb Iranian bridges and power plants over Hormuz ship attacks.
Egypt approves four oil and gas exploration agreements to increase energy output
Egypt’s House of Representatives has approved four oil and natural gas exploration and development agreements, including an onshore project in North Sinai involving French-British independent producer Perenco
Iraq's Basra crude rises as Middle East tensions lift global oil prices
Iraq's Basra crude grades posted strong gains on July 22, tracking broader gains in global oil prices amid escalating geopolitical tensions in the Middle East that have fuelled concerns of potential supply disruptions.
Iraq nears West Qurna 2 development deal with Chevron
Iraq is making progress in negotiations with Chevron over the development of the West Qurna 2 oilfield, with no major obstacles remaining before a final agreement is signed.
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