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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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Iran plans to launch a joint venture with Chinese tech companies to employ artificial intelligence (AI) to “digitalise” production in its oil and gas fields, the research and technology head of the National Iranian Oil (NIOC) said.
Iran’s biggest gas company is carrying out a ground-breaking initiative to cut down flaring in South Pars, the world’s largest natural gas field.
Iran’s crude production rose again in November, hitting another five-year high, despite the first monthly drop in OPEC output since July.
Iran called for “friendly and constructive co-operation,” after the Persian Gulf Co-operation Council (GCC) categorically rejected any Iranian stake in a disputed gas field claimed by Kuwait and Saudi Arabia.
Iran's call at Caspian nations meeting for end to Israel oil supplies awkward demand for Azerbaijan, Turkey
Iraqi oil expert Hayder Al-Battat has clarified the reality of Russia's expansion in Iraq's energy and oil sector, particularly in light of Russian company Lukoil acquiring a stake from Japan's Inpex Corporation in the Aridu field.
Russian President Vladimir Putin embarked on a significant one-day visit to the UAE and Saudi Arabia on December 6, with a focus on reinforcing cooperation within the OPEC+ group of leading oil producers and addressing fundamental regional conflicts.
Iran has taken a major step to get a long-stalled project off the ground, after signing a memorandum of understanding to finance the construction of Anahita petroleum refinery in the western province of Kermanshah.
Iranian crude oil arriving in China has grown more than 110% since the two countries signed a long-term “strategic” partnership agreement in 2021.
Sultan al-Jaber, the oil executive who is leading the COP28 climate summit in Dubai, has rocked the conference with highly controversial remarks that there is “no science” that phasing out fossil fuels is necessary.
Japanese shipowner MOL has agreed a carbon capture and storage deal with Bahrain’s state oil and gas holding company Bapco Energies.
Iranian Parliament Speaker Mohammad Baqer Qalibaf called energy shortage one of the most pressing concerns among other deficits, pinning the blame primarily on extravagant use of energy resources.
About half of the world's oil firms, totalling almost 50 companies, have committed to achieving "near zero" methane emissions and discontinuing routine flaring in their operations by 2030, and achieving net zero by 2050.
Petrostates are currently confronted with significant challenges arising from the ongoing energy transition. The diminishing demand for oil and gas is exerting downward pressure on commodity prices, which in turn threatens future revenue streams.
The head of the state-owned Kuwait Petroleum Corp. (KPC) said this week that the company intends to spend up to $50bn over the next five years to support its ambitious oil production expansion plans.
An oil pipeline in Yemen’s central Shabwa province has been damaged following an attack by an unidentified group of gunmen.
The government of Cyprus and US energy giant Chevron reached agreement on 1 December for the development of the Aphrodite gas field, an issue that has been up in the air since August, when the government rejected Chevron's revised development plan.
Iran's natural gas extraction has reached 1bn cubic metres per day, with 70% gushing forth from the mammoth South Pars (SP) gas field, the head of the planning and project control at the Pars Special Economic Energy Zone (PSEEZ) said.
The group failed to agree on an additional cut that would apply to all members, so leading producers have once again decided to cut over and above the OPEC+ quotas
Majority state-owned Aramco has awarded a SAR153mn ($42mn) contract to Dammam-based East Pipes Integrated Co. for Industry for the manufacture and supply of steel pipes for key projects in Saudi Arabia.
The secretary general of the Iranian Federation of Petroleum Industry (IFPI) has sounded the alarm about a looming gas shortage, warning that Iran might turn into an energy importer as consumption outstrips production.
OPEC+ should keep its “successful move” on track to help stabilise the oil market, Iranian Oil Minister Javad Owji said, after the energy alliance agreed to deepen supply cutbacks during an online meeting.