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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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Welcome to the latest edition of NewsBase’s Roundup Global (NRG), in which our team of international editors provide you with a snapshot of some of the key issues affecting their regional beats.
Tony Blinken, nominated by US president-elect to serve as his secretary of state, is an outspoken proponent of the nuclear deal. If Washington rejoins the accord, heavy sanctions on the Iranians would be lifted.
Erdogan’s visit to breakaway north of Cyprus, described by Nicosia as “provocative and illegal”, has widened rift between bloc and Ankara.
Iranian foreign minister, meanwhile, suggests Biden could swiftly return US to nuclear deal by simply signing “three executive orders”.