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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Iraq denies plans to leave OPEC as quota debate continues

25 June 2026

Iraq’s Ministry of Oil has denied reports that the country is considering withdrawing from OPEC, confirming that such claims do not express the official position of the Iraqi government.

US temporarily lifts sanctions on Iran

25 June 2026

The US has now temporarily lifted its sanctions on Iran as part of peace negotiations, allowing the country to produce, deliver, and sell its crude oil, petrochemical, and petroleum products.

Israel's Kedma Capital planning 900MW natural gas-fired power plant

25 June 2026

Israeli private equity fund Kedma Capital is advancing plans to build a 900MW natural gas-fired power plant in the Nesharim Industrial Zone in Ramla.

Germany’s MAK launches work on $550mn Sohar petrochemicals project in Oman

25 June 2026

Germany’s MAK Germany GmbH has begun construction work on a $550 mn petrochemicals complex in Oman, marking a major downstream industrial investment in the Sultanate’s fast-expanding chemicals and plastics sector.

Oman expands spot gas market with new agreements to boost industrial growth

25 June 2026

Oman’s Integrated Gas Company (IGC) signed a series of agreements under the Sultanate’s Spot Gas Market, reinforcing efforts to improve the efficiency of natural gas allocation, and support industrial expansion in the country.

Oman, Turkey TPOC sign offshore concession agreement for Musandam Block 80

25 June 2026

Oman signed a new offshore concession agreement with a consortium comprising OQ Exploration and Production (OQEP) and Turkish Petroleum Overseas Company Limited (TPOC) for Block 80, located offshore Musandam Governorate in north Oman.

The debate over EU methane regulation and energy security

24 June 2026

The EU’s methane regulation has split analysts, with Rystad saying it will not harm supply and Wood Mackenzie warning it could make large volumes of imports non-compliant.

Egyptian oil services major Enppi requests bourse listing

24 June 2026

The Egyptian Exchange (EGX) has received a formal request to list the shares of the Engineering for the Petroleum and Process Industries (Enppi) on its main market

Qatar to resume normal LNG output within weeks, prime minister says

24 June 2026

Qatar will resume normal LNG production within a few weeks, its prime minister says, though Iranian strike damage will keep around 17% of capacity offline for years, leaving global gas markets only partly relieved.

Oman opens temporary Strait of Hormuz routes with no tolls

24 June 2026

Oman will keep the Strait of Hormuz open without tolls and has designated two temporary routes north and south of the existing lane to let vessels leave safely, working with the IMO, after Iran's effective closure of the waterway.

Qatar to restore LNG output to pre-Iran war levels

24 June 2026

Qatar is set to restore LNG production to pre-war levels within weeks, Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani confirmed.

India’s Russian crude imports hit record level

24 June 2026

Regardless of efforts by the US or even the EU to pressure New Delhi to abide by wider sanctions on Moscow, Russian crude is set to remain a defining feature of India's energy mix in at least the near term.

Iraq to avoid Hormuz by exporting oil from southern fields via Turkey

23 June 2026

Iraq is said to be pushing a plan that would see oil exports from its southern oilfields avoid the Strait of Hormuz transit chokepoint by using pipelines and trucks running north through Turkey.

More than $5bn of energy opportunities available at Iran’s Lavan Island

23 June 2026

More than $5 bn worth of investment opportunities are available in oil and gas fields operated by the Iranian Offshore Oil Co. (IOOC), its CEO Ahmadreza Rasti said, as Tehran seeks to ramp up development of key offshore assets in the Persian Gulf.

Hormuz crisis inflicts $37bn blow to Iraq’s economy

23 June 2026

Iraq’s economy has come under significant pressure following the recent regional conflict and the temporary closure of the Strait of Hormuz, exposing deep structural vulnerabilities linked to its heavy reliance on oil revenues.

Algeria and Saudi Madar Energy accelerate Illizi South oil partnership

23 June 2026

Algeria and Saudi firm Madar Energy North Africa are accelerating the implementation of the $5.4bn Illizi South hydrocarbons project, with both sides reviewing preparations for the contract's entry into force, covering technical and regulatory aspect

Libya's NOC launches reverse-flow gas operation to power Ruwais Power Station

23 June 2026

Libya's state-run utility National Oil Corporation (NOC) said that engineers at the country’s Mellitah Oil and Gas Field have successfully implemented an innovative reverse-flow operation to supply natural gas from the Mellitah industrial complex.

After poultry raid failure, Turkey moves against fuel and LPG industry, seizes six companies

23 June 2026

27 businessmen detained in coordinated raids spanning nine provinces.

Iran, Oman agree joint committee on Strait of Hormuz shipping

23 June 2026

Iran and Oman have agreed to form a joint foreign-ministry committee on the future management of shipping through the Strait of Hormuz, a joint statement says, while reaffirming safe passage and their sovereignty over the waterway.

Etihad Energy plans Fujairah refinery

23 June 2026

Etihad Energy Holding Company is planning an AED 1.1bn–1.3bn refinery in Fujairah dedicated primarily to 95-octane gasoline production.

OQEP signs upstream MoU with Indonesia's Pertamina Hulu Energi

23 June 2026

Oman's OQEP has signed an MoU with Indonesia's Pertamina Hulu Energi to explore joint oil and gas investments in Oman, Indonesia and other markets, extending the upstream firm's widening network of international partnerships.

Egypt settles Dana Gas arrears as drilling triples expectations

23 June 2026

UAE-based Dana Gas (ADX:DANA) has cleared all outstanding arrears with the Egyptian government after receiving a final payment of $21.5mn

Iran says US has issued licence for oil sales with banking, insurance cover

23 June 2026

The United States has issued the licence needed to sell Iranian oil, petrochemical products and oil derivatives, along with the related insurance, transport and banking services, according to Iran.

Iran says Switzerland four-way talks collapsed after US threats

23 June 2026

Iran's foreign ministry says four-way talks in Switzerland with the US, Pakistan and Qatar failed to reconvene after threatening US statements, with later contact running only through mediators, giving Tehran's account of the round.

Iran, Tajikistan hold oil supply talks to cement energy ties

23 June 2026

Iran and Tajikistan have held high-level talks in Tehran on expanding cooperation in oil and petroleum products trade, with discussions focusing on meeting part of Tajikistan’s energy needs and boosting economic ties.

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Edited by

Frazer Simm

Editor

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