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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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Egypt clears $5bn in oil partner arrears since June 2024, says PM
The Egyptian government has paid about $5bn in outstanding dues to foreign partners in its oil and gas sector since June 2024 under a previously announced repayment schedule
Russia and Iran to hold intergovernmental commission meeting in Tehran in February
Russia and Iran to hold 19th intergovernmental commission meeting in Tehran from February 16-18 as Moscow reaffirms commitment to strategic partnership despite regional challenges.
Iran charges petrol ration cards with no changes to allocation
Iran charges petrol ration cards with 60 litres at IRR1,500 and 100 litres at IRR3,000 for Bahman month with no changes to allocations, maintaining six-month storage ceiling for private vehicles.
India, UAE strike LNG deal
India and the UAE have agreed to work towards doubling bilateral trade to $200bn by 2032, as New Delhi steps up efforts to diversify its economic partnerships amid pressure on exports to the US.
Iraq's Basra crude prices rise in line with global oil gains
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New UAE gas agreement strengthens energy ties with India
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Iran’s private sector to process 12% of crude under partnership deals
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Iran advances development of joint Farzad-B gas field
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Iraq’s Basra Gas reports rising LNG exports above 700,000 tonnes in 2025
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Israel and Cyprus near gas deal after more than decade of stalled negotiations
Israel and Cyprus are approaching a final agreement on the jointly held Aphrodite-Yishay gas reservoir after more than a decade of stalled negotiations.
Iraq kicks off drilling at Akkas following contract overhaul
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Qatar set for progress on Al-Shaheen following delivery from China
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Leviathan partners sign FID on field expansion
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Syrian Petroleum Company receives oil fields after Army's advance
The Syrian Petroleum Company (SPC) announced that the Syrian Army has taken control of oil and gas fields in Deir Ezzor, following recent military advances in eastern Syria.
India’s Russian oil imports slide to two-year low as OPEC share rises
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Iraq targets 57,000MW power capacity expansion in five-year plan
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Saudi Arabia surpasses Russia in oil production during 2025
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Iran's Oil Minister dismisses Trump threats as oil sector continues operations
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Iran signs internal "$2bn" oil sector investment contracts with private sector participation
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Bahrain and TotalEnergies establish joint oil trading enterprise
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Qatar gas sector contracts double to $12.3bn in 2025
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India’s oil firms strike onshore crude in Abu Dhabi
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