MEOG - Middle East Oil & Gas

Category: 
Oil & Gas

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Overview

With around 40% of the world’s oil supply coming from the Persian Gulf, in addition to exploration and production (E&P), MEOG’s coverage includes policy and transport issues which can cause price spikes in the global hydrocarbon markets.

MEOG offers insight into the latest developments in the oil and gas sectors of Bahrain, Iraq, Iran, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, Turkey, the UAE and Yemen. While much of the region has been extensively explored, there remain ‘frontier’ areas of E&P. Oil shale efforts in Jordan could provide vast resources through the greater cost effectiveness of new technologies. To the north-west, Beirut has grown increasingly impatient to follow the major gas discovery trend in the Eastern Med. and Lebanon’s first offshore bid round is likely to kick off drilling campaigns in the medium term.

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Iran looks to save nearly 1bcm of gas savings for winter

28 September 2026

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

28 September 2026

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

28 September 2026

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

28 September 2026

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

28 September 2026

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

28 September 2026

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

28 September 2026

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

28 September 2026

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

27 September 2026

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

27 September 2026

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%

27 September 2026

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

27 September 2026

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

26 September 2026

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

25 September 2026

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

25 September 2026

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

25 September 2026

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

24 September 2026

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

24 September 2026

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

24 September 2026

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

24 September 2026

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

24 September 2026

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

24 September 2026

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

23 September 2026

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

23 September 2026

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

23 September 2026

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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Edited by

Frazer Simm

Editor

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