MEOG - Middle East Oil & Gas
Middle East crude flows claw back lost ground
Buoyed by a restart of the East-West pipeline and record ship-to-ship activity off Oman, regional crude exports have recovered to roughly four-fifths of pre-war levels.
Tehran and Baku revive Caspian energy dialogue
Iran and Azerbaijan discussed ways to expand cooperation in oil and gas and energy trade during a meeting in Tehran between Iranian Oil Minister Mohsen Paknejad and Azerbaijani Deputy Prime Minister Shahin Mustafayev.
South Pars Phase 11 output hits record
Iran’s natural gas extraction from Phase 11 of the South Pars field has hit a record high after the first stage of development was completed with the start-up of the final well in the phase.
Iran's NIDC completes 63 wells in H1
The National Iranian Drilling Co. (NIDC) drilled and completed 63 oil and gas wells in the first half of the Persian calendar year, with total drilling reaching 71.8 km, its chief executive Morteza Fouladi said.
QatarEnergy extends force majeure on LNG supplies to Italy's Edison
QatarEnergy has extended force majeure on LNG supplies to Italy’s Edison until early December, prolonging a disruption that began in April and forcing the Italian utility to continue sourcing replacement cargoes.
Iraq expands LPG storage capacity with new Nasiriyah facility
Iraq has started trial operations of a new liquefied petroleum gas (LPG) storage project at the Nasiriyah gas depot in Dhi Qar province.
Iran's crude exports slump to 0.5mn b/d as China cuts imports
Iran's crude exports fell to about 0.5mn b/d in July and August from 2.6mn b/d in January as China cut seaborne imports and Iranian tankers held tens of millions of barrels in floating storage.
Middle East crude exports rebound to seven-month high
Middle East crude shipments climbed to 12.8mn bpd in September, the highest since the US-Israeli conflict with Iran erupted in February
Iran claims Kharg crude exports rose during war
Iran exported 70mn barrels of crude from Kharg Island in the Persian Gulf during the first 39 days of the war, 10% more than in the comparable period before the conflict, the head of Iranian Oil Terminals Co. (IOTC) said.
Iran looks to save nearly 1bcm of gas savings for winter
Iran plans to save 979mn cubic metres (mcm) of gas over the next five months, including the coming winter, through a nationwide efficiency programme involving private-sector energy service companies.
Indian Oil buys 2mn barrels of Iraqi crude at $28 discount
Indian Oil Corporation, India’s largest refiner, has bought 2mn barrels of Iraqi Basra Medium and Basra Heavy crude at a discount of about $28 a barrel to the October Dubai benchmark.
Syria begins transiting imported petrol to Iraq via Baniyas
Syria has begun transiting imported petrol to Iraq through the Baniyas oil terminal under a renewable three-month agreement.
Iran completes first stage of South Pars Phase 11 development
Iran has completed the first stage of development of South Pars Phase 11 after its 12th well entered trial flow, with the new well expected to lift output from the phase by more than 9%.
Iran faces 400mn m3 daily gas deficit ahead of winter
Iran is still facing a daily gas deficit of about 400mn cubic metres (mcm) ahead of winter, with around 115mn cubic metres of gas-processing capacity damaged in recent attacks on facilities in Asalouyeh in southern Iran yet to be restored.
Iran to more than double associated gas recovery capacity by 2027
Iran plans to more than double its capacity to capture associated petroleum gas (APG) to 36mn cubic metres a day by March 2027, from about 15 mcm now, the chief of the National Iranian Oil Co. (NIOC) said.
Shell, Petronas to resume LNG exports from Egypt's Idku plant in October
Energy majors Shell and Petronas have reached an agreement with the Egyptian Ministry of Petroleum and Mineral Resources to resume liquefied natural gas (LNG) export cargoes from the Egyptian LNG (ELNG) facility at Idku starting in October
Gas-tastrophe! Global energy chiefs drill for more while their own seeps away
The global gas industry is spending billions of dollars drilling new fields, constructing LNG terminals and securing supply routes while allowing huge quantities of the commodity it already produces to leak, vent or burn into the atmosphere.
Oman awards three exploration blocks to OQEP in $56m drilling push
Oman has awarded three oil and gas concession blocks to majority state-owned upstream firm OQ Exploration and Production (OQEP), targeting new hydrocarbon reserves, Oman News Agency reported on September 26.
S&P affirms Oman at ‘BBB-’ as oil exports, fiscal buffers underpin resilience
S&P Global Ratings affirmed on September 26 Oman’s investment-grade sovereign rating with a stable outlook, citing strong fiscal buffers and resilient hydrocarbon exports amid regional tensions.
Saudi Arabia's SABIC AN awards $3.5bn contract to lift urea capacity 54%
SABIC Agri-Nutrients has awarded South Korea's Samsung E&A a $3.47bn contract for an ammonia and urea complex that will raise its urea capacity by 54%, GPCA reported.
UAE’s XRG considers buying stake in LNG Canada
The Abu Dhabi National Oil Company’s international investment arm XRG is believed to be seeking to purchase a stake in LNG Canada.
Iran's grip on Hormuz slips as oil flows top 13.5mn b/d
Oil flows through the Strait of Hormuz have topped 13.5mn barrels a day, led by a surge in Saudi Gulf loadings, Commodity Context's tally of Kpler data showed on September 25.
BP commits $700mn to four-well Egypt gas programme
BP is implementing a $700mn investment programme in Egypt covering four firm wells, including Fayoum 4, Gharab and two Arcius exploration wells, as Cairo seeks to stem declining domestic gas production.
Iraq slump drags Mediterranean growth forecast to -0.7%, EBRD says
Iraq's oil export slump drags southern and eastern Mediterranean growth to -0.7% in 2026, down from a 2.5% forecast in June, while Morocco leads on 4.8%.
MPs to grill Iran oil minister over cancelled China refinery deals
An Iranian lawmaker said parliament has put forward a plan to question Oil Minister Mohsen Paknejad over the cancellation of oil sales contracts with seven Chinese refineries, warning the move could affect ties with Beijing.
Chevron plans upstream expansion in Egypt following New York talks
US energy major Chevron (NYSE:CVX) is preparing to expand its exploration and production footprint in Egypt and the wider Eastern Mediterranean, aiming to scale up capital investment and upstream activity across its domestic concessions
SLB wins key Bisat expansion contract in Oman’s Block 60
Global energy technology company SLB announced on September 23 that it has secured a major contract from Oman’s upstream energy firm, OQ Exploration & Production (OQEP), to expand production infrastructure at the Bisat oil field in Block 60.
Saudi Arabia denies buying 25 tankers, blames Hormuz for Iraq freight costs
Saudi Arabia denies buying 25 oil tankers and says the Iran war and Hormuz disruption, not Riyadh, have driven up freight costs for Iraqi crude.
Nearly 6mn barrels of seized Iranian oil heading to US, monitoring service says
Nearly 6mn barrels of Iranian crude worth about $600mn seized by the United States are “quietly” crossing the Atlantic Ocean towards the US, oil tanker tracking company TankerTrackers.com said in a post on X.
Oman joins Trump meeting with Gulf, Arab leaders in New York
Oman joined Gulf and Arab countries and Türkiye in talks convened by US President Donald Trump on regional security and Middle East developments, Oman News Agency reported on September 23.
Egypt urges Eni to accelerate development of Denise gas field
Egypt’s Petroleum and Mineral Resources minister has pressed Italian energy major Eni to expedite development drilling at the offshore Denise gas field in the Mediterranean Sea and bring new production volumes online as soon as possible.
Iran restores half of damaged South Pars gas capacity ahead of winter
Iran has revived around half of the gas production capacity damaged in Israeli airstrikes at its South Pars field by September 22, Deputy Oil Minister Ahmad Zeraatkar said.
Iraq offers 2mn barrels of Basra Heavy crude for spot sale
Iraq has launched a tender to sell 2mn barrels of Basra Heavy crude for loading between September 27 and 30, with the cargo to be transferred between vessels off the coast of Oman outside the Strait of Hormuz.
Al-Sharaa says Syria seeks to revive Iraqi oil route to Mediterranean
Syrian President Ahmed al-Sharaa said Damascus is working on a project to link Iraqi oilfields with Syrian Mediterranean ports, while seeking to expand economic and security cooperation with Baghdad.
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