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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Iran has not yet replied to latest US proposal, contradicting Trump

6 May 2026

An Iranian source has said that Tehran has not yet responded to the latest US proposal to end the war, contradicting US reports that the White House believes a one-page 14-point memorandum is close.

Saudi Arabia to build SAR1.4bn supercomputer for oil exploration

6 May 2026

Saudi Aramco and Solutions by stc are developing a SAR1.4bn ($373.33mn) supercomputer for oil exploration.

Saudi Arabia spending jumps 20% in Q1 to SAR387bn as Iran war drives oil receipts higher

6 May 2026

Saudi Arabia's government spending surged 20% year-on-year to SAR387bn ($103.20bn) in Q1 2026, the fastest pace in three years, producing a deficit of SAR126bn ($33.60bn) as oil revenues dropped to a near five-year low.

Egypt and Algeria sign crude supply deal, expand energy cooperation

6 May 2026

Egypt and Algeria have signed a memorandum of understanding (MoU) to facilitate the purchase of Algerian crude oil, while also exploring broader cooperation in the oil and gas sectors

Qatari Green Sky Capital finances major sustainable aviation fuel facility in Egypt

6 May 2026

Qatari-based firm Green Sky Capital has signed a major financing agreement for a pioneering sustainable aviation fuel (SAF) production facility in Ain Sokhna

Iran vows swift rebuild of war-hit oil facilities

6 May 2026

Iran will rebuild oil installations damaged during the war launched jointly by the United States and Israel in late February “in the shortest possible time”, Oil Minister Mohsen Paknejad said.

Global oil buyers turn to Guyana amid Strait of Hormuz crisis, with Chevron leading the charge

6 May 2026

Global oil consumers are increasingly looking to Guyana as a stable supply source following the blockade of the Strait of Hormuz, according to a new report from Wood Mackenzie.

Iraq maintains steady oil exports to Syria via Rabia crossing

6 May 2026

Oil exports via the Rabia border crossing in Iraq’s Nineveh province to Syria’s Yarubiyah crossing are continuing at a steady pace.

Iran’s oil output seen resilient at 2mn bpd even if exports halted, data analysis shows

5 May 2026

A detailed review of oil output and export data from Iran’s first period of US “maximum pressure” suggests that the widely cited risk of the country’s storage capacity filling up and forcing a production shutdown is fundamentally flawed.

Iran reaffirms OPEC commitment after UAE exit

5 May 2026

Iran said it remained committed to its OPEC obligations after the United Arab Emirates walked out of the oil cartel, a move Tehran called “non-constructive” amid rising tensions in the Persian Gulf and disruptions to exports.

Fuel prices in Morocco ease in May after weeks of sharp increases

5 May 2026

Fuel prices in Morocco declined by around MAD 1 ($0.1) per litre in May, marking the first notable correction after weeks of consecutive increases that had pushed prices to record levels.

Beijing defies US sanctions on Iranian oil trade

5 May 2026

China has said it will not comply with the latest US sanctions package imposed on a group of refineries accused by Washington of purchasing Iranian crude.

ADNOC ramps up expansion with $55bn capital push following OPEC departure

4 May 2026

ADNOC has initiated a $55bn infrastructure investment phase for the 2026 to 2028 period

Shell to begin gas production from Egypt’s West Mina field late 2026

4 May 2026

International oil major Shell (NYSE:SHEL) is set to begin natural gas production from Egypt’s West Mina field in the Mediterranean Sea in Q4 2026, in partnership with Kuwait Foreign Petroleum Exploration Company (KUFPEC).

FCC protesters continue disruptions at Basra’s South Refineries Company in Iraq

4 May 2026

Dozens of former workers from the FCC oil project staged a protest on May 4 for the second consecutive day outside the gates of the South Refineries Company in Basra, blocking access to employees as they demanded formal employment within the Ministry

Jordan, Syria and Lebanon sign landmark gas cooperation deal

4 May 2026

Energy ministers from Jordan, Syria and Lebanon have announced a major agreement to cooperate on the exchange and transit of natural gas, aimed at strengthening energy security and improving electricity supplies across the region.

OPEC+ core adjusts output as UAE finalises institutional withdrawal

3 May 2026

The UAE has formally withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), deepening its strategic pivot away from multilateral energy frameworks

Iran’s NISOC completes 13 smart pipeline inspections to shore up output stability

3 May 2026

The National Iranian South Oil Co. (NISOC) has carried out 13 rounds of smart pigging operations on its main crude oil pipelines in the south, as it moves to shore up infrastructure integrity and sustain production, a senior official said.

China defies US sanctions on refiners over Iran oil trade

3 May 2026

China will not comply with US sanctions imposed on five of its refiners for buying Iranian oil, the Commerce Ministry said, issuing a prohibition order to block the measures and push back against Washington’s pressure campaign on Tehran.

Egypt announces new natural gas discovery in Nile Delta

3 May 2026

Egypt’s Ministry of Petroleum and Mineral Resources has announced a new natural gas discovery in the Nile Delta, marking a significant step towards strengthening domestic energy production

Egypt plans to cut fuel imports by 25% in May as demand eases

3 May 2026

The Egyptian government is currently planning to reduce its fuel imports by up to 25% in May, as domestic demand declines following the introduction of commercial energy-saving measures

Egyptian government slashes oil partners' arrears to $714mn

3 May 2026

Egypt’s Ministry of Petroleum and Mineral Resources has announced a further decline in outstanding payments owed to foreign oil companies, with the total arrears dropping to $714mn,

Post Assad Syria sill dependent on Russian oil

2 May 2026

Russia has emerged as the main supplier of oil to Syria, despite the new government's reaching out to the West and uncomfortable relations with Moscow over its military support for the fallen Assad regime.

Edited by

Frazer Simm

Editor

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