MEOG - Middle East Oil & Gas
Ankara urges Russia, Ukraine to ensure Black Sea safety after drone attack on Turkish vessel near Novorossiysk
Turkey on August 4 called on both Russia and Ukraine to uphold maritime safety in the Black Sea after a drone strike hit a Turkish owned vessel near the Russian port of Novorossiysk, seriously injuring three crew.
Libyan oil revenues drop 31% in July amid slump in global prices
Libyan oil revenues fell by nearly 31% month-on-month (m/m) in July 2026, driven down by lower global crude prices despite a significant expansion in export volumes
Platts launches Sea of Oman tanker freight assessments
Platts, a division of S&P Global, announced on August 4 the launch of new tanker freight assessments covering crude oil and refined product shipments from the Sea of Oman to North Asia.
Yemen's Houthis claim drone strike on Saudi Arabia's Najran airport
Yemen's Houthi forces claimed a drone strike on a Saudi military asset at Najran airport, their military spokesman said, in a further reported escalation with Riyadh, though Saudi authorities did not confirm it and the claim could not be verified.
Saudi Energy lifts first-half net profit 7.5% to $1.79bn on asset base growth
Saudi Energy, formerly Saudi Electricity Company, lifted first-half net profit 7.5% to SAR6.7bn ($1.79bn) as revenue rose 10.5% to SAR52.2bn, with its regulated asset base up 14.1% year on year to SAR271.8bn.
IRGC to launch new petrol refinery by March to cut reliance on imports
The Khatam al-Anbia Construction Headquarters, the economic arm of Iran’s Islamic Revolutionary Guard Corps (IRGC), is set to bring a new petrol refinery online in the country’s south before March 2027.
Greek vessel carrying Qatari LNG hit off coast of Oman
A Greek shipping line’s vessel GasLog Shanghai was stuck off the coast of Oman while exiting the Strait of Hormuz.
Iran nears first output milestone at South Pars Phase 11
Iran is on the threshold of full commissioning of one of the two production platforms at Phase 11 of the South Pars gas field, putting it on course to achieve nearly half of the phase’s planned gas output.
ADNOC overhauls crude pricing formula
Abu Dhabi National Oil Co. (ADNOC) will abandon its futures-based pricing formula for Abu Dhabi crude grades from November 1
Kuwait to raise oil output to 2.676mn bpd in September
Kuwait reaffirmed its support for continued coordination within the OPEC+ alliance after participating in ministerial meetings that endorsed a further increase in oil production from September 2026. Oil Minister Tareq
Iraq expands LPG storage capacity with Najaf facility
Iraq's Ministry of Oil has begun trial operations at the Najaf liquefied petroleum gas (LPG) storage facility, a project designed to strengthen strategic fuel reserves and improve the country's gas storage and distribution network
Iraq's SOMO asks buyers to confirm August Basra crude volumes
Iraq's State Organisation for Marketing of Oil (SOMO) has asked term contract buyers to specify the volumes of Basra crude they intend to load in August, as tanker traffic through the Strait of Hormuz remains below normal levels.
Potential fuel price hikes could push Egypt's inflation to at least 16%, say CI Capital:
Iran ties Hormuz reopening to end of US strikes and naval blockade
Iran will not reopen the Strait of Hormuz while US military action and its naval blockade continue, foreign ministry spokesman Esmaeil Baghaei said, calling a safe-passage deal with Oman necessary but not sufficient.
Iran's Oil Industries Equipment says group earnings lifted annual profit
Iran's Oil Industries Equipment Company, a Tehran-listed oil and gas equipment holding, said its profit for the 12 months to March rose because of higher earnings at its subsidiaries.
Baghdad and Ankara sign one-year Ceyhan export deal
Iraq’s oil ministry has signed a one-year agreement with Turkey covering the transport and loading of Iraqi crude through the Iraq-Turkey pipeline to the Mediterranean port of Ceyhan
KJO reopens PMC tender for Dorra gas scheme
Al-Khafji Joint Operations (KJO) has relaunched its search for a project management consultant to oversee the Dorra offshore gas development
Baghdad, Ankara sign interim deal to extend use of Iraq-Turkey Pipeline for one year
Turkey and Iraq have agreed and signed a one-year deal on extending and expanding the use of the crude oil pipeline that links the neighbouring countries, Turkish Energy Minister Alparslan Bayraktar said on August 1.
OPEC+ completes voluntary cut rollback with September hike
OPEC+ agreed on August 2 to raise output by around 188,000 barrels per day (bpd) from September
Oman opens EPC race for Ras Markaz expansion
Oman has invited contractors to prequalify for the next construction phase of the Ras Markaz Crude Oil Park
Iran's Esfahan Oil Refining says feedstock pricing rules unchanged
Esfahan Oil Refining says the government's feedstock and product pricing rules remain unchanged, with the cabinet directive extended to July 22 and no revised pricing formula yet issued, countering press reports of a change.
Iran says talks with Oman on new Strait of Hormuz shipping route nearing conclusion
Iran says talks with Oman on a new Strait of Hormuz shipping route are nearing conclusion, but stresses any deal would not by itself reopen the waterway.
Sepehr-Jofeir oilfields push crude output above 90,000 bpd
Crude oil production at Iran’s twin Sepehr and Jofeir oilfields has soared by more than 14% to its highest level since output began under the current development contract three years ago.
Iran issues Gulf-wide energy hit list if Trump carries through on threats to destroy Iran’s energy sector
US President Donald Trump threatened to destroy Iran’s energy sector in a joint operation with Israel, prompting Tehran to issue a hit list of some of the most valuable assets in the Gulf if he carried through with the threat.
L&T secures six-year EPC framework agreement with Petroleum Development Oman
Indian engineering and construction major Larsen & Toubro (L&T) has secured a six-year engineering, procurement and construction (EPC) framework agreement with Oman's leading oil and gas producer, Petroleum Development Oman (PDO).
UPDATE: Iran's IRGC says it struck two tankers attempting to cross Strait of Hormuz
Iran's IRGC says it struck and stopped two oil tankers attempting to cross the Strait of Hormuz under US air escort, with four others turning back. The claim could not be independently verified, and the US military has given a competing account.
Qatari LNG tanker sails out of Strait of Hormuz with Iranian approval
A QatarEnergy-operated liquefied natural gas (LNG) carrier has passed through the Strait of Hormuz with Iranian approval, shipping data showed on July 30— the first recorded transit by an LNG vessel through the strategic waterway since July 11.
Syria receives 37,646 tonnes of petrol at Baniyas terminal
A tanker carrying 37,646 metric tonnes of petrol has arrived at Syria's Baniyas oil terminal as the government continues efforts to strengthen fuel supplies and meet domestic demand,
Iraq's Basra crude rises despite decline in global oil prices
Iraq's Basra crude grades edged higher on July 30 despite a decline in global oil prices, with both Basra Heavy and Basra Medium posting modest gains from the previous trading session.
Egypt confirms Damietta Port fire caused by drone strike
The Egyptian Cabinet announced on July 30 that initial investigations into the fire involving two natural gas vessels at Damietta Port confirmed it was caused by an incoming drone strike
ADNOC Drilling revenue rises% in H1 of 2026
ADNOC Drilling posted a record first-half revenue of $2.46bn, up 4% y/y, as the Abu Dhabi-listed drilling and oilfield services company maintained full-year guidance of approximately $5bn.
Iran pushing to reinstate gas capacity lost in Israeli strike on Asaluyeh, oil minister says
Iran is making an “all-out effort” to restore most of the natural gas processing capacity lost in an Israeli air strike on the southern energy hub of Asaluyeh, Oil Minister Mohsen Paknejad said.
India weighs more Iranian oil purchases after first imports in seven years, envoy says
India is considering the possibility of buying more crude oil from Iran after resuming imports from the Middle Eastern producer during heightened tensions in the Strait of Hormuz, India’s ambassador to Tehran said.
Iraqi PM reportedly concludes Turkey visit with no agreement on use of cross-border oil pipeline
Iraqi Prime Minister Ali Al-Zaidi reportedly ended his visit to Turkey on July 30 without sealing an agreement on the use of a cross-border pipeline that is essential to Iraq's oil export plans.
Turkish Petroleum comes full circle in Kirkuk
Nearly 100 years after Turkish Petroleum’s original concession in Mesopotamia lapsed into other hands, Ankara has bought its way back into the Kirkuk complex
Dubai-based Dragon Oil and international firms to bid for BP’s West Nile Delta Egypt gas assets
Dubai-based Dragon Oil, alongside Carlyle Group (NASDAQ:CG), Energean (LSE:ENOG), and Artemis Energy, is preparing to submit bids shortly to acquire British energy major BP’s (LSE:BP) natural gas assets in the West Nile Delta offshore Egypt
Tehran seeks to relocate fuel depots months after Israeli strikes
Tehran’s municipality is pursuing plans to relocate the Iranian capital’s fuel storage depots, Mayor Alireza Zakani said, nearly four months after Israeli air strikes triggered massive fires at several of the facilities.
Egyptian authorities refute drone strike claims, confirm Damietta Port fire contained
Egyptian security sources and official authorities have explicitly denied reports circulating from maritime security firms claiming that a drone strike targeted Damietta Port
US sanctions Iran's HormuzSafe marine insurer, shadow fleet tankers
The US has sanctioned Iran's state-backed marine insurer HormuzSafe, a second Iranian insurer and a network of shadow fleet tankers and shipping firms under Executive Order 13902, OFAC said on July 29, in a fresh move against Tehran's oil exports.
US, Saudi consortium picks Gulf refinery site outside Hormuz in $5bn plan
A US-Saudi consortium, MERA Oil, has shortlisted three Gulf sites outside the Strait of Hormuz for a $5bn, 200,000 b/d refinery and export corridor, with a preferred host expected by the end of 2026.
Iran, Oman exchange proposals on future management of Strait of Hormuz
Iran and Oman have exchanged competing proposals over the future management of the Strait of Hormuz, as negotiations continue on the governance of one of the world's most strategically important maritime chokepoints following months of conflict.
Turkey, Iraq sign five agreements across key sectors as al-Zaidi visits Ankara
Turkey and Iraq signed five agreements and memoranda of understanding (MoU) covering energy, transport, education, youth and industrial property during Iraqi Prime Minister Ali al-Zaidi's official visit to Ankara.
Tehran mayor pushes to close Iran's capital oil depots after strikes
Tehran's mayor says the municipality is pursuing permanent closure of oil depots inside the capital, which lost capacity after being struck in the war. Residents want the sites relocated and the oil company has cooperated in talks.
Manila redraws oil supply routes as Iran war exposes energy risks
Since late February, the Philippines has been forced to rethink its oil procurement strategy after the outbreak of war in Iran on the 28th of the month disrupted shipping routes and exposed the country’s continued dependence on imported crude.
IRGC strikes three more tankers in Strait of Hormuz as tensions with US flare up again
Iran’s Revolutionary Guards (IRGC) said they had struck three more oil tankers in the Strait of Hormuz, days after US President Donald Trump warned that any repeat of such attacks would be met by attacks on Iranian bridges and power plants.
Asia LNG prices climb to four-month peak
Fresh Houthi attacks on Saudi oil tankers departing Red Sea ports have also helped to extend the conflict to a second major maritime chokepoint, raising fears over global energy supplies.
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