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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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Iraq slashes petrol imports by 37% in third quarter
Iraq cuts petrol imports 37% to 396,475 tonnes in Q3 2025 as country moves toward fuel self-sufficiency, State Oil Marketing Organisation reports.
Saudi Arabia's Aqaseem opens first European branch in Kosovo
Saudi motor oil trader Aqaseem establishes first European branch in Kosovo's capital Prishtina, expanding operations beyond existing Middle East and North Africa markets.
Iraq’s SOMO reports fuel imports at 656,000 tonnes in Q3 2025
Iraq imported nearly 657,000 tonnes of petroleum products in the third quarter of 2025, The bulk of the imports consisted of gasoline, which totalled 396,475 tonnes with 37% decline compared with the third quarter of 2024.
Egypt to repay $750mn of foreign oil companies' arrears by early 2026
Egypt’s Ministry of Petroleum plans to repay about $750mn of arrears owed to foreign oil companies operating in the country by the end of Q1 2026
Iran turns off flare stacks at Haftkel oilfield
The flare stacks at the Haftkel oil field in Iran’s southwestern Khuzestan province, which had been burning for nearly a century, have been extinguished as part of the Oil Ministry’s ongoing efforts to capture associated petroleum gas (APG).
Saudi Arabia's NMDC Energy and Baker Hughes sign offshore localisation MoU
Saudi Arabia's NMDC Energy signs MoU with Baker Hughes to explore offshore products and services localisation. Agreement covers use of fabrication yard in Ras Al-Khair Special Economic Zone for Gulf region and MENATI markets.
Iraq’s northern oil fields regain stability as BP supports production growth
Iraq’s northern oil sector is witnessing a period of relative stability after years of security and administrative challenges, with production from Kirkuk’s main oil fields, Bai Hassan, Jambur, Havana and Khabbaz, reaching about 320,000 bpd
UAE’s Dana Gas signs MoU with Syria to explore redevelopment of key gas fields
UAE-based Dana Gas announced that it has signed a Memorandum of Understanding (MoU) with the Syrian Petroleum Company to explore the redevelopment of existing gas fields that were severely damaged during Syria’s 13-year conflict
AEC to host G20 African Energy Investment Forum ahead of G20 Summit in Johannesburg
The African Energy Chamber (AEC) will host the G20 African Energy Investment Forum ahead of the G20 Summit in South Africa.
Iraq’s Oil Pipelines signs strategic partnership with Dubai’s Progwin
Iraq’s Oil Pipelines Company has signed a strategic partnership agreement with Dubai-based Progwin, marking a key step in the Iraqi Ministry of Oil's strategy to enhance the technical and engineering capabilities of the national oil sector
Iraq boosts oil exports to India as Saudi supplies to China decline
Iraq is set to increase its crude oil exports to India next December, as Asian oil markets undergo a reshuffle amid declining Saudi supplies to China for the second straight month
Egypt to import three LNG shipments in November amid rising domestic demand
The Egyptian General Petroleum Corporation will import three liquefied natural gas (LNG) shipments and issued a tender to its current suppliers for deliveries scheduled from mid to late November 2025.
Aramco reportedly pauses Safaniya onshore tender
Saudi Aramco is reported to have extended the bid deadline for its Safaniya onshore oilfield development project, according to industry publications
Iran unveils first home-grown mobile nitrogen generation unit for oil wells
Iranian engineers have designed and launched the country’s first mobile high-purity nitrogen generation and injection system for use in the oil industry, said Gholamhossein Mirzavand, head of the NISOC engineering department.
Iran’s NIDC deploys eight heavy rigs in five Iranian provinces
Iran’s National Iranian Drilling Co. (NIDC) deployed eight heavy onshore drilling rigs across five provinces to drill and complete wells in oil and gas fields run by the Iranian Central Oil Fields Co. (ICOFC), said the NIDC’s deputy for drilling.
Iran denies asking US for sanctions relief
Iran's National Security Council Secretary Ali Larijani denies Iranian requests for US sanctions relief, saying no message sent to Americans as other party was not ready to reach agreement in previous negotiations. Trump had claimed Iran requested sa
Iraq to save $5bn annually by halting petroleum imports, says senior PM advisor
Iraq’s plan to stop importing petroleum products is expected to save the country $5bn annually. It will represent a significant step toward diversifying the economy
Kuwait launches Jurassic offshore drilling drive
The Kuwait Oil Company has begun drilling in deep offshore reservoirs dating back to the Jurassic period
Kuwait offers heavy crude in December spot tender amid al-Zour refinery disruption
Kuwait Petroleum Corp has offered heavy crude for loading in December via an immediate tender
ADNOC agrees to 15-year LNG deal with Shell
United Arab Emirates’ state-run energy company Abu Dhabi National Oil Company has agreed to supply Shell with 1mn tonnes per year of LNG for 15 years.
Lukoil calls force-majeure in Iraq as sanctions bite
The Russian firm is set to withdraw from its largest international asset as US sanctions measures sink a potential deal with Gunvor
Oil minister says Iran’s oil revenues fall short of H1 target
Iranian Oil Minister Mohsen Paknejad acknowledged that the country had failed to rake in projected revenues from crude and condensate sales in the first half of the current fiscal year.
Iran’s first oil crowdfunding project fully funded in less than four days
The financing process for Iran’s first crowdfunding investment project in the petroleum industry was completed in less than four days through the PetroCrowd platform, following strong investor participation.
Saudi Arabia's industrial production achieves highest growth pace since 2024 on oil recovery
Saudi industrial output rises 9.3% year-on-year in September, highest since early 2024, as oil activities grow 10.1% following OPEC+ production increase of 547,000 barrels daily.
Russian Lukoil declares force majeure on Iraqi oil
Lukoil, Russia’s second-largest oil company, has declared force majeure on its operations at the West Qurna-2 oil field in Iraq due to the impact of US sanctions

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