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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Saudi raises OSPs for Mediterranean, Asian buyers

11 April 2024

Saudi Arabia has raised the official selling price (OSP) for its Arab Light crude oil for Asian and Mediterranean customers in May, according to an Aramco statement released April 5.

Iraq receives bids for construction of 100,000 barrel per day oil refinery

11 April 2024

Iraq has received bids from numerous foreign companies for the construction of the proposed 100,000 barrel per day Al-Kut oil refinery in the country’s Eastern Wasit Governate.

Crude oil prices remain in motion amid Middle East uncertainty

10 April 2024

Fresh talks between Israel and Hamas at the start of the week prompted Brent and WTI prices to slip from higher prices during the previous week, but a lack of progress in the talks by mid-week and a pending new attack by Israel prompted concern.

Iraq turns attention to Wasit Governorate, nears 5mn bpd target

10 April 2024

The Iraqi Ministry of Oil is working to set up another region-specific subsidiary that will be responsible for the development of fields in Wasit as it expands oil production capacity.

Iraq to rehabilitate Turkey pipe, bypassing Kurdistan

10 April 2024

Baghdad has said it is working to circumvent Kurdistan by repairing a direct conduit to allow for a resumption of oil flows to the Mediterranean

Jordan outlines plans to become hydrogen hub

9 April 2024

Jordan's energy minister has unveiled comprehensive plans to establish the country as a leading green hydrogen hub.

Pakistan to begin construction work on gas pipeline before Iranian president’s visit in April

8 April 2024

Preparations are underway in Pakistan to break ground on a much-delayed pipeline to receive Iranian natural gas ahead of a possible visit by Iranian President Ebrahim Raisi to Islamabad this month.

US Treasury imposes sanctions against UAE shipping company

5 April 2024

The US Treasury has expanded its Iran sanctions list to include a UAE-based shipping company and 13 associated tankers allegedly involved in supplying energy to the Iranian military.

How Chinese oil imports are helping to support the regimes in Moscow and Tehran

4 April 2024

A new report by the Atlantic Council has suggested that China – using a so-called dark fleet in conjunction with Russian and Iran – is effectively getting around existing sanctions on oil purchases from both countries.

Asset managers sell stake in ADNOC Oil Pipelines

4 April 2024

BlackRock and KKR have sold their joint 40% stake in a 23-year lease concession for ADNOC's oil pipelines to local investment manager Lunate.

Iraq, Nigeria lead OPEC oil output fall

4 April 2024

According to a Reuters survey published April 1, the Organization of the Petroleum Exporting Countries’ (OPEC) output fell in March due to lower exports from Iraq and Nigeria.

Aramco announces $7.7bn in contracts for Fadhili Gas Plant

3 April 2024

Saudi Aramco has announced that it has awarded contracts worth $7.7bn for the expansion of its Fadhili Gas Plant, located in Saudi Arabia's Eastern Province.

Aramco awards contracts for Fadhili Gas Plant expansion

3 April 2024

Majority state-backed Saudi Aramco has awarded $7.7bn worth of engineering contracts to support the expansion of its Fadhili Gas Plant, nearby the Kingdom’s downstream hub at Jubail.

Pakistan has right to buy Iran gas, says defence minister after US sanctions warning

3 April 2024

Pakistan said it had the “right” to buy natural gas from Iran, a week after the United States warned of sanctions if Islamabad presses ahead with a long-overdue pipeline project.

Iran discovers ten shale oil deposits nationwide

3 April 2024

The National Iranian Oil Co. has discovered ten shale oil fields across the country, the NOIC exploration chief said.

Iran’s oil revenues hit $36bn last year, says top customs officer

2 April 2024

Crude oil exports have brought in $35.87bn in revenues for Iran in the past Persian calendar year that ended on March 19, the head of Iran’s customs office said.

Israel gives new consideration to LNG export facility

2 April 2024

Israeli Minister of Energy and Infrastructure, Eli Cohen, has ordered a study to be carried out on the possibility of placing a floating LNG vessel within the country’s exclusive economic zone.

IDC completes 52 wells during Q1

2 April 2024

The state-owned Iraqi Drilling Co. announced this week that it had completed the boring and development оf 52 oil wells during Q1.

Iran signs five-year gas supply deal with Iraq

2 April 2024

Iran has signed a five-year gas supply deal with Iraq to export up to 50mn cubic metres per day of natural gas to its energy-starved neighbour.

ADNOC Gas signs off on dividend payment

1 April 2024

ADNOC Gas has declared a dividend payout of $3.25bn for 2023, following a prosperous first year after its IPO in March 2023.

Qatar signs deals to charter more LNG carriers as it eyes greater market share

1 April 2024

QatarEnergy has come to agreement with four Asian shipbuilders to charter 19 LNG carriers, the state-run company announced on March 31.

Iraqi Ministry of Oil signs MoU to convert associated gas to electricity with Siemens Energy and SLB

1 April 2024

The Ministry of Oil in Iraq has signed a memorandum of understanding with Germany’s Siemens Energy and the US’ Schlumberger to process associated gas and convert it to electricity.

Edited by

Frazer Simm

Editor

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