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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Kuwait’s state oil giant looks to speed up Kuwaitisation

3 August 2025

Kuwait Petroleum Corp. has initiated a sweeping, top-down overhaul aimed at simultaneously reshaping its workforce

Iranian state driller digs 48 oil, gas wells in four months

3 August 2025

The National Iranian Drilling Co. (NIDC) has drilled 48 oil and gas wells across onshore and offshore fields in the first four months of the Iranian calendar year, which began on March 21.

Iran, Iraq edge closer to settling gas payments

3 August 2025

Iran and Iraq are nearing a breakthrough in long-standing energy disputes that have hampered regional cooperation and stoked severe power shortages in Iraq amid blistering summer heat.

Syria inaugurates Azerbaijan gas pipeline through Turkey

2 August 2025

Syria has inaugurated a regional gas transmission line linking the country with Azerbaijan through Turkey.

Turkey proposes new oil agreement to Iraq worth $40bn in revenues

31 July 2025

Turkish Energy and Natural Resources Minister Alp Arslan Bayraktar announced that a draft of a new agreement on the crude oil pipeline between Iraq and Turkey has been sent to the Iraqi side.

Iraq ready to import Turkmen gas to tackle power shortages

31 July 2025

Iraq announced that it has finalised all technical and logistical arrangements to begin importing natural gas from Turkmenistan, in a move aimed at addressing the country’s chronic electricity shortages.

US hits Iranian oil shipping network with sweeping sanctions

31 July 2025

The United States imposed sweeping new sanctions on more than 115 individuals, companies, and vessels allegedly tied to a vast maritime network shipping Iranian and Russian oil.

Iran braces for daily gas shortfall of 400 mcm in winter, deputy minister says

30 July 2025

Iran is expected to face a major natural gas deficit of up to 400mn cubic metres per day this winter, up 33% from last year’s shortage, Deputy Oil Minister Saeed Tavakkoli said.

Iran restarts key gas compression station, saving 18mn cubic feet of gas daily

30 July 2025

Iranian engineers have brought a key gas compression station in the southwestern region of Aghajari back online after major repair works.

Oman crude premiums climb on firm Asia demand, Dubai eases

30 July 2025

Spot premiums for Oman's benchmark crude climbed as refiners across Asia stepped up purchases, according to data seen by Reuters via TradingView. Murban also gained, while Dubai crude slipped, with its premium falling by 11 cents to $2.82 a barrel.

Egypt to increase LNG purchases for rest of decade

30 July 2025

Egypt is set to raise LNG purchases over the next five years as demand soars in the north African country.

KBR awarded deal to revive Kuwait’s Heavy Oil ambitions

29 July 2025

KBR has been awarded a key contract to design the next expansion phase of Kuwait’s South Ratqa heavy oilfield

Iran’s oil discounts cost nation $2.5bn as 40mn barrels sit unsold at sea

29 July 2025

Iranian crude oil is reportedly being sold at its steepest discount in recent years, resulting in over 40mn barrels stranded at sea due to sluggish sales and mounting stockpiles, according to market sources and international data providers.

Iran looks to allow oil exports through local energy exchange

29 July 2025

Tehran is working on a framework to enable crude oil exports through its domestic energy exchange, the head of the Iran Energy Exchange (IRENEX), said, calling for greater transparency and efficiency in the country’s international oil sales.

US Gulf Coast refiners pivot to international suppliers as local crude sources dwindle

29 July 2025

American Gulf Coast refineries are securing elevated volumes of Middle Eastern and South American crude to replace diminishing Venezuelan and Mexican barrels, with ship tracking data revealing a significant supply chain reorganisation

Iran drills 10 new wells at South Azadegan oil field

29 July 2025

Iran has completed drilling 10 new wells in the South Azadegan oil field, a key component of the West Karoun oil development plan in the oil-rich Khuzestan province, the National Iranian Drilling Co. (NIDC) announced.

Turkey-Iraq pipeline impasse highlights billion dollar standoff

29 July 2025

A fresh spotlight has been cast on the deep-seated financial and legal disputes blocking the restart of Iraqi oil exports via Turkey

Iran ramps up gas output from South Pars with new infill well

28 July 2025

Iran has boosted natural gas production from its giant South Pars field by 1.6mn cubic metres per day following the completion of a third infill well, the state-run Pars Oil and Gas Co. said.

Iraq's oil revenues hit $6.69bn for June 2025

28 July 2025

Iraq’s Ministry of Oil has announced its final oil export and revenue figures for June 2025, reporting total crude oil exports of 98.8mn barrels and generating $6.69bn in revenue.

Iran has plans for crude sales if UN sanctions reinstated, oil minister says

28 July 2025

Iran has drawn up contingency plans to maintain oil exports under any scenario that may arise from renewed international sanctions, Oil Minister Mohsen Paknejad said, as European powers threaten to trigger the UN snapback mechanism.

Qatar warns EU it could halt LNG shipments if bloc doesn’t change law

28 July 2025

Qatar finds itself in a battle with EU lawmakers desperately seeking to pair back a due diligence law to avoid a massive fine.

Edited by

Frazer Simm

Editor

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