MEOG - Middle East Oil & Gas

Iraq PM visits Germany as Merz warns Iran, Houthis over shipping disruptions

German Chancellor Friedrich Merz urged Iran to reopen the Strait of Hormuz and end its nuclear programme during talks with Iraqi Prime Minister Ali Faleh al-Zaidi in Berlin, while warning against allowing Houthi forces to threaten shipping in Red Sea

Syria, US companies explore oil investment opportunities

Syria's state-owned Syrian Petroleum Company (SPC) held talks with a US economic delegation in Damascus on September 15 on cooperation and investment opportunities in the country's oil sector.

Abu Dhabi’s XRG acquires stake in Southern Gas Corridor

Abu Dhabi’s XRG completed its acquisition of an equity stake in Southern Gas Corridor Closed Joint Stock Company from Azerbaijan's Ministry of Economy.

US disputes Iran mine claim over tanker in Hormuz

MACRO ADVISORY: Oil price to rise as reserve dipping ends

The price of oil is expected to rise steadily as “reserves dipping” is close to ending. Many traders and oil companies say that the oil price should be higher and expect it to rise in the next couple of months.

Chevron advances on West Qurna-2 as Iraq challenges OPEC output caps

Baghdad has advanced its strategy to revitalise its upstream energy sector by securing a technical partnership with Chevron (NYSE: CVX) for the West Qurna 2 oilfield

Iran completes 55 oil, gas wells 87 days ahead of schedule

The National Iranian Drilling Co. (NIDC) finished work on 55 oil and gas wells 87 days ahead of schedule in the first half of the Persian calendar year, its chief executive said.

UAE's XRG, ADNOC eye closer gas cooperation with Germany's SEFE

Syria protesters call for energy minister's removal after fuel price hikes

Protests broke out across several parts of Syria after the government raised fuel prices by up to 40%, with demonstrators blocking roads and burning tyres while calling for the resignation of Energy Minister Mohammad al-Bashir.

Turkey urges backing for Qatar-Europe gas pipeline to bypass Hormuz

Turkey’s Energy and Natural Resources Minister Alparslan Bayraktar has called on Qatar and European capitals to show the political will needed to advance a project for a long-proposed pipeline that would carry Qatari gas to Europe via Turkey.

Oman urges alternative LNG export routes bypassing Hormuz

Oman has called for alternative LNG export routes bypassing the Strait of Hormuz as prolonged regional conflict continues to disrupt energy shipments, Al Arabiya Business reported on September 14.

Iran to start Aghajari flare-gas projects from late October

Iran will begin commissioning projects to capture flare gas from fields run by the Aghajari Oil & Gas Production Co. (AGOGPC) from late October, the head of the National Iranian South Oil Co. (NISOC) said.

Iran warns insurers over Hormuz blacklist ships

Iran's Persian Gulf Strait Authority has widened its Hormuz vessel blacklist warning to insurers, P&I clubs and classification societies, threatening them with liability for serving listed ships.

Egypt power sector gas demand drops 6% in September

Natural gas consumption by Egyptian power generation plants dropped by 250mn cubic feet per day (mmcf/d) in September 2026, registering a 6% decline compared to August levels

Qatar holds talks with US firms for LNG deals through 2031

Negotiations come after Qatar recently extended force majeure on deliveries to November.

Attacks throttle Saudi’s Hormuz hedge as Houthis advance

Saudi Arabia is facing compounding supply chain threats as regional conflict disrupts key transit routes

Iran amends petrol pricing as shortages bite and drivers walk out

Iran has doubled the price of petrol bought above the subsidised monthly quota, a change that took effect on September 7 as shortages lengthened queues at filling stations.

Oman postpones Gulf meeting to unveil new Iran-Oman Hormuz routes

Iran and Oman have finalised new Strait of Hormuz transit routes running through Iranian waters, but the strait stays closed pending Tehran's conditions on the US, and the meeting to unveil the deal has been postponed.

POGC doubles pace of development at Iranian offshore gas fields

The state-owned Pars Oil and Gas Co (POGC), Iran’s top gas producer, has doubled the pace of development at three gas fields in the Persian Gulf over the past two years, its chief executive said.

Iran brings South Pars propane tank into export service

Iran’s largest gas producer has put into service a second propane storage tank at the South Pars 12th Refinery, loading more than 6,500 tonnes of liquefied propane for export after commissioning domestically designed and built cryogenic pumps.

Yemen's Houthis claim 58 Saudi air strikes as battle for Bab el-Mandeb escalates

Yemen's Houthis say Saudi jets flew 58 air strikes across six provinces in a day, as their capture of the Red Sea coast and the Bab el-Mandeb strait threatens Saudi oil exports and rattles energy markets.

Syria raises fuel prices as global refined-product costs climb

Syria’s Energy Ministry said higher prices for petroleum products were driven by an exceptional rise in global procurement costs and the temporary reduction in domestic refining capacity during an overhaul of the Baniyas refinery.

Syria, Saudi CASHIN sign deal to launch digital platform for petroleum products

Syria’s Energy Ministry has signed a strategic partnership agreement with Saudi technology company CASHIN to establish a national digital platform for trading and governance of petroleum products.

Iran works to keep output at ageing Salman oilfield

Iran is taking measures to sustain oil output at the ageing Salman field in the Persian Gulf, including gas injection, associated-gas gathering and upgrades to gas and pipeline infrastructure as natural reservoir pressure has declined.

Iraq signs 25-year deal to develop Ajil oilfield

Iraq’s North Oil Company (NOC) has signed a 25-year contract with KEPPT to develop and operate the Ajil oilfield in Saladin province, with the project targeting higher oil and gas production and greater use of associated gas.

Russia is rationing jet fuel at 26 airports, foreign airlines cut first

At least 26 major Russian airports have imposed restrictions on refuelling aircraft, according to the Russian outlet Vyorstka, which read them off the country's aeronautical information system.

Russia's oil refining down, but shortages drive up revenues anyway

Russia spent August buying gasoline from a refinery it part-owns in India, transferring it between sanctioned tankers off Egypt and unloading it at an Arctic port, because its own refineries can no longer make enough of it.

Yemen's Houthis claim major west-coast gains as government forces report advances

Yemen's Houthis claim to have seized more than 5,400 sq km from Saudi-backed government forces in Taiz and Hodeidah, a claim the internationally recognised government rejects while reporting its own advances, in the heaviest fighting since 2022.

Greece's Energean and Israel's Sorek power station signs 15-year gas supply deal

Greek energy producer Energean has signed a 15-year gas supply agreement with Israel's Sorek power station covering 7.7 bn m3.

Iraq targets 1mn bpd in oil exports via Syria, Turkey

Iraq plans to increase its oil export capacity through Syria and Turkey’s Ceyhan port to more than 1mn barrels per day (bpd).

QatarEnergy secures exploration rights for two Angolan offshore blocks

QatarEnergy has signed a memorandum of understanding for exploration rights over two offshore blocks in Angola.

Israel's Tamar Petroleum extends MoU on natural gas exports to Egypt

Tamar Petroleum has extended the validity of a non-binding memorandum of understanding covering natural gas exports from the Tamar project to Egypt, pushing the deadline to 31 October 2026.

Turkey move to cushion fuel consumers means major tax revenue loss, says report

Tax measures introduced in Turkey to cushion consumers from higher fuel prices in the shadow of the war waged by the United States and Israel on Iran have resulted in a substantial loss of public purse revenue.

Report says “middlemen” companies shipping oil to Israel from Turkish port Ceyhan

Two little-known private companies, working through Turkey’s Mediterranean oil export port of Ceyhan, now number among Israel’s most important “oil middlemen”, according to a report from bianet.

UK-based Kisto Energy makes Oman upstream debut

UK-listed Kistos has formally entered Oman’s upstream energy sector after securing legal ownership of a 20% interest in producing Blocks 3 and 4, Oman Daily Observer reported on September 9.

Iraq reports Panama-flagged tanker hit in territorial waters

A Panama-flagged tanker carrying fuel oil was struck by an unidentified source in Iraqi territorial waters on September 9, causing material damage to the vessel but no casualties or reported fuel leakage.

Iraq’s Samawah refinery begins trial pumping to new oil depot

Technical and engineering teams at Iraq’s Samawah Refinery began trial pumping of petroleum products to the new Samawah depot in Muthanna province on September 9, using a temporary pumping station.

Turkey, Russia sign memorandum on mineral fertiliser shipments

Turkey and Russia have signed a memorandum of understanding (MoU) on mineral fertiliser shipments, with Ankara looking to strengthen access to fertilisers and related raw materials.

Britain widens Iran sanctions on energy and finance, with joint Azerbaijani gas exemptions

The UK will widen sanctions on Iran from September 29, targeting energy, finance, shipping and aviation. Planned licences will allow certain activities linked to Azerbaijan’s Shah Deniz gas field to continue.

Iran grants app-based drivers up to 300 extra litres of petrol

Iran plans to allocate up to 300 extra litres of petrol to drivers working through passenger and freight apps, based on mileage, and offer free dual-fuel conversions as higher pump prices raise concerns over transport costs for passengers and drivers