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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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Iran’s oil minister brushes off Trump’s return
Iranian Oil Minister Mohsen Paknejad downplayed concerns about the potential impact of Donald Trump’s return to the White House on the country’s oil exports.
ADNOC Gas acquires majority stake in Ruwais LNG plant from ADNOC
ADNOC Gas has agreed to purchase a 60% stake in the United Arab Emirates’ Ruwais LNG plant from its parent company ADNOC.
Iranian oil field aims to produce 2.2mn cubic metres of gas via anti-flaring
A local Iranian company plans to collect all associated petroleum gas (APG) at the Rag Sefid oil field in the southwest to churn out over 2.2mn cubic metres (mcm) of gas per day
Abdülhamid Han drillship spuds Amasra-4 well in Sakarya gas field
Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced over the weekend that the drillship had started drilling the Amasra-4 well in the producing gas field.
QatarEnergy moves to expand fleet, exploration and services
QatarEnergy has received four new LNG vessels as part of a massive fleet expansion programme. In the upstream, the company has acquired a stake in acreage offshore Egypt.
Baghdad approves budget amendment to compensate KRG
Iraq has approved a proposal at covering KRG oil production and transportation expenses from sovereign expenditures
New well boost gas output at Phase 11 of Iran’s South Pars
A new well has come on stream at Phase 11 of Iran’s gargantuan South Pars (SP) gas field, giving production at the section a 20% boost, said the chief executive of the firm in charge of the phase’s development.
Kuwaiti firms working to achieve national targets
Kuwait's KOC is intensifying efforts to raise oil production capacity by 2025
Dana Gas commits to Khor Mor expansion despite contract termination
Dana Gas has reaffirmed its commitment to resuming its natural gas expansion project in Iraqi Kurdistan
MEOG: Aramco profits drop but dividend kept
AI takes centre stage at ADIPEC
The conference, where almost 200,000 participants gathered, featured a series of sessions dedicated to the technology, as well as a special AI zone, where various AI-related energy solutions and initiatives were presented.
Revenue at Turkey’s largest refiner Tupras cut by third in 3Q24
Turkey plans regional gas hub, Istanbul index in 2025
Turkey’s Energy and Mineral Resources Minister Alparslan Bayraktar told Turkish media last week that a natural gas trading hub could begin operating in Istanbul in 2025.
Turkmenistan unwilling to sign new gas supply deal over payments, Iranian president says
Iranian President Masoud Pezeshkian said on November 4 that Turkmenistan was dragging its feet on signing a new gas swap deal with the Islamic Republic, citing the Iranian government's poor track record on settling its bills on time.
Iran approves plan to boost oil output by 250,000 barrels
Iran’s economic taskforce approved an “action plan” to ramp up crude oil production by 250,000 barrels per day.
Iran oil prices to China at five-year high
The prices of Iran’s crude oil exported to China have hit a record high in recent years, trading sources said.
Iran announces plans to raise oil, gas and condensate output
Iran is planning to raise oil output by 250,000 bpd, along with increases in gas and condensate
Enersol to acquire controlling stake in DWS
ADNOC's Enersol JV plans to acquire a majority stake in Deep Well Services #bnm #uae #adnoc #enersol #alphadhabi #drilling
Energy industry must drive sustainable socio-economic growth: ADIPEC
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Saudi Aramco's net profit fell 15.4% in the third quarter
Iraqi oil exports to US rise in October
Output at Phase 11 of Iran’s South Pars gas field to rise by 20% ahead of winter
Iran is set to ramp up extraction from Phase 11 of the colossal South Pars (SP) gas field, with a 20% increase on the cards ahead of the peak winter months.
TEHRAN BLOG: Why a Trump win may not be good for Israel
Israel's close association with Trump might further alienate it from other regional players, while Iran, now open to negotiation, may see opportunities in the coming shifts.
Iranian crude exports bring in $27bn in seven-month period, customs office says
Iran has clocked up $27bn in crude oil and mazut exports over the first seven months of the current Persian calendar year (March 20-October 21), averaging a monthly haul of around $3.86bn.
OPEC output rises despite Iraqi cuts as unwinding is pushed back
has pushed back its planned easing of output cuts to the end of the year, just as production has risen despite Iraq’s compensatory efforts
        
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