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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Foreign oil firms evacuate staff from Iraq amid rising Iran tensions

7 March 2026

Several foreign oil companies have begun evacuating their overseas employees from Iraqi oil fields to Kuwait, amid fears of escalating conflict in the region

Gulf crude benchmarks surge as Kuwaiti oil jumps 10% and Brent nears $85 amid regional conflict

6 March 2026

Kuwaiti crude jumps 10% to $92.81 per barrel as the Gulf conflict disrupts shipping through the Strait of Hormuz and threatens production across the region's energy exporters.

Qatar's energy minister warns Gulf-wide production shutdown looms

6 March 2026

Qatar's energy minister warns all Gulf exporters face production shutdown within weeks, forecasting $150 oil and gas prices quadrupling as the Iran conflict chokes global energy flows.

Egypt activates second gas production well at West Burullus

6 March 2026

Egypt’s Ministry of Petroleum and Mineral Resources said that a second gas well at the West Burullus field, part of Cairn Energy’s (LSE: CNE) investments, has been brought into production at a rate of 12mn cubic feet per day

India's Petronet LNG declares force majeure after QatarEnergy notice

6 March 2026

India’s biggest LNG importer, Petronet LNG, has received a Force Majeure notice from QatarEnergy (QE), and as a result PLL has issued corresponding Force Majeure notices to companies that it supplies LNG to.

Pakistan seeks Saudi oil route via Red Sea as Hormuz closure disrupts supply

6 March 2026

Pakistan has asked Saudi Arabia to help secure crude oil shipments through the Red Sea port of Yanbu as the closure of a key Gulf shipping route threatens the country’s energy supply chain

Bangladesh scrambles for LNG supplies after QatarEnergy declares force majeure

6 March 2026

Bangladesh is facing the risk of fuel shortages within days after a disruption in liquefied natural gas (LNG) supplies forced authorities to urgently seek alternative cargoes in the global spot market

Oil production halts loom as Gulf storage facilities rapidly fill towards capacity

5 March 2026

US President Donald Trump has said that he thinks the conflicts in Iran will go on for about a month. However if it lasts only four weeks then all of Iraq, Kuwait, UAE, and Qatar will be forced to shut down production after they run out of storage,

Fire breaks out at Bapco Energies refinery in Bahrain after Iranian missile attack

5 March 2026

A limited fire broke out at a unit of the Bapco Energies refinery in Bahrain following an Iranian missile attack.

Kuwaiti Petroleum Corporation confirms that oil activities remain fully operational

5 March 2026

Kuwait Petroleum Corporation confirmed that its oil operations remains fully operational amid regional tensions.

US shale unlikely to replace Middle Eastern oil, industry players and analysts warn

5 March 2026

The shale industry cannot increase production rapidly enough to replace any supply disrupted as a result of the conflict in Iran in the near term, according to warnings from both industry participants and analysts.

Subsea7 awarded Turkish Petroleum Offshore Technology Center order relating to development of Black Sea gas field Sakarya

5 March 2026

Subsea7 on March 4 announced the award of a large variation order by Turkish Petroleum Offshore Technology Center (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Turkey.

Iraq experiences total power blackout, causes under investigation

4 March 2026

The Iraqi Ministry of Electricity announced on March 5 that the country is experiencing a complete power outage across all provinces.

QatarEnergy declares force majeure on LNG shipments amid Gulf conflict

4 March 2026

QatarEnergy declares force majeure on LNG deliveries after suspending production, threatening global gas supplies as the Gulf conflict disrupts the world's largest LNG exporter.

Drone attack shuts Saudi Aramco refinery as oil prices skyrocket over Iran war

4 March 2026

A drone attack on Saudi Aramco’s Ras Tanura refinery has forced its shutdown amid a dramatic spike in oil prices in the wake of a US-Israeli offensive against Iran.

‘Nearly ten’ vessels hit by Iran in Strait of Hormuz, local media says

4 March 2026

Iranian forces have struck “nearly ten” oil tankers and ships in the Strait of Hormuz since the outbreak of a US-Israeli war on Iran.

78 injured as submarine attacks Iranian naval vessel off Sri Lanka's coast

4 March 2026

At least 78 Iranian sailors injured after submarine attack on naval vessel IRIS Dena off Sri Lanka's coast, with rescue operations under way near the city of Galle.

Algeria set to boost LNG exports amid regional tensions and rising demand

4 March 2026

Algeria is preparing to increase its presence in the global liquefied natural gas (LNG) market by enhancing its spot sales, driven by expected demand spikes due to the ongoing war with Iran and potential supply chain disruptions

Iraq reportedly suspends piped oil shipments to Turkish Mediterranean export hub Ceyhan

4 March 2026

Iraq has reportedly suspended all crude oil exports piped to the Turkish Mediterranean port of Ceyhan from its semi-autonomous Kurdistan region amid consequences of the conflict in the Middle East.

New Delhi says it is prepared to handle energy disruptions amid Middle East tensions

4 March 2026

The Indian government has asserted that the country is fully prepared to manage any short-term energy disruptions arising from the outbreak of hostilities in the Middle East and the evolving global energy situation.

BOTAS sees no risk to Turkey’s gas supply security posed by Middle East conflict

3 March 2026

Turkey’s state-owned oil and gas pipeline operator and energy trader BOTAS has said all necessary measures are in place to guarantee uninterrupted and secure supplies of natural gas across the country.

Why Gulf bypass routes offer only weeks of oil supply cover

3 March 2026

The effective closure of the Strait of Hormuz has exposed a critical vulnerability in global energy security

Price-sensitive, import-reliant India grapples to shore up energy security amid Hormuz crisis

3 March 2026

The disruption has already rippled into domestic markets.

How exposed is China to the Hormuz crisis?

3 March 2026

A prolonged closure of the Strait of Hormuz would hit China’s energy security hard, threatening to sever roughly half of its crude imports and a significant share of its LNG supply.

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Edited by

Frazer Simm

Editor

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