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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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UAE energy firm Dragon Oil wins North July oil field bid in Egypt
Dubai government-owned energy company Dragon Oil has secured the concession for Egypt’s North July offshore oil field, located northeast of the Gulf of Suez.
Kurdish exports restart under revamped federal oversight
Crude exports from Iraqi Kurdistan resumed over the weekend, bringing to an end a two-and-a-half-year hiatus, and potentially marking a pivotal change in the region’s fortunes
Iran says oil output hits seven-year high after field development push
Iranian Oil Minister Mohsen Paknejad said the country’s crude production had climbed to its highest level in seven years, crediting fresh drilling and recovery efforts at major fields, including the giant Azadegan oil field in oil-rich Khuzestan.
Iranian Oil Ministry rejects claims, slams local paper
Iran’s oil ministry has dismissed reports by local daily Eghtesade Pooya alleging a drop in crude exports, saying production and shipments remain on a steady upward trajectory.
India resumes imports of Iranian crude after 6-year hiatus
Iran has found a new buyer for its crude, with India importing a shipment worth $111mn, according to official data from the country’s Ministry of Commerce and Industry.
Iraq exports 800mn barrels of crude in eight months, revenues exceed $41bn
Iraq exported more than 800mn barrels of crude oil during the first eight months of 2025, generating nearly $42bn in revenues, according to figures released by the State Oil Marketing Organisation (SOMO)
Italy’s Eni to invest $8bn in Egyptian gas exploration projects over next five years
Italian energy major Eni plans to inject $8bn in investments into Egypt over the next five years to accelerate exploration and field development
ADNOC’s subsidiary XRG acquires stake in Rio Grande LNG project in Texas
The United Arab Emirates’ state-run oil and gas company ADNOC announced that its investment vehicle XRG has closed its acquisition of an equity stake in NextDecade’s Rio Grande LNG project located in Brownsville, Texas.
Trump lavishes praise on Erdogan in White House meeting and suggests Turkey stop buying Russian oil and gas
Some big military and civilian aircraft deals may be in the making, but the deal-making remains behind closed doors.
Iraq launches five strategic oil projects in Basra, Kirkuk
Iraq launches five major oil and gas projects in Basra and Kirkuk provinces, targeting 210,000 bpd crude production and 1,000MW solar capacity as the country aims to become a gas exporter.
Return of UN sanctions will not hamper oil sales, Iranian minister says
Iran said that the possible reimposition of UN sanctions under the so-called snapback clause would not amount to a “new troubling restriction” on the country’s crude sales, insisting that exports will carry on “without problem.”
New deals, talks suggest upstream impetus in Kuwait
Kuwait appears to be turning a page towards a new era of commercial pragmatism towards its key oil sector
Iraqi Kurdistan to Turkey oil pipeline yet to restart as producers demand debt repayment guarantees
Pipeline oil exports from Iraq’s Kurdistan region to Turkey’s Mediterranean port of Ceyhan, halted since March 2023, were yet to restart on September 24 as two significant producers requested debt repayment guarantees, according to Reuters.
Turkey announces US-origin LNG deals that could secure 76 bcm over 20 years
Turkey’s state-controlled energy trade and infrastructure company Botas on September 24 announced two deals that could secure the supply of around 75.8bn cubic metres (bcm) of US-origin liquefied natural gas (LNG) over a period of 20 years.
Iran launches first mobile oil desalter at Cheshmeh-Khosh
Iran brought online its first mobile desalter at the Cheshmeh-Khosh oil field in western Ilam province, a project officials say would boost daily crude processing capacity by 14,000 barrels.
Iranian oil sales to China surge despite tighter US sanctions
Iran has sharply ramped up its crude exports to China in recent months, hitting around 1.81mn barrels per day (bpd) — almost 22% higher than the 2024 average — despite the United States tightening its sanctions regime.
Iran’s gas exports to Iraq drop by 41% during summer
Iran’s gas exports to Iraq plunged to $950mn between April and August, down nearly 41% from the same period a year earlier, according to data from the Trade Promotion Organization (TPO) of Iran.
Iraq's Basra refinery nears completion with $4.8bn Japanese funding
The Japanese Ambassador to Iraq, Akira Endo, confirmed that the Basra Refinery development project has reached its final stages, marking an essential achievement in Japan’s ongoing support for Iraq’s infrastructure development
Egypt exports rare LNG cargo to Europe, plans $200mn regasification unit
Aramco's bid to buy Repsol's renewables business collapses
Talks for Saudi Aramco to acquire a minority stake in Repsol’s renewables business have collapsed, ending months of negotiations over a potential €1bn investment.
Word leaks of $43bn US-Turkey LNG deal ahead of Trump-Erdogan meeting at White House
Agreement would cover imports through 2045.
Iran’s Dehloran petchem project stuck without feedstock
Iran’s Ahdaf Investment Group has poured $400mn into the Dehloran petrochemical project in the western Ilam province, near the Iraqi border, but the scheme remains in limbo due to a lack of feedstock, its chief executive said.
CPPE picks up contract for Iraq water supply pipelines
Basra Oil Company (BOC) has finalised a contract with CPPE to build a 950km pipeline network to deliver seawater to multiple oilfields in southern Iraq in a scheme overseen by Austria’s ILF Consulting Engineers,
Syria to establish energy company modelled on Saudi Aramco structure
Syria plans new energy company based on Saudi Aramco model as part of sector restructuring efforts following Saudi oil grant worth $120mn to support refinery operations.
Iranian cloak and dagger keeping oil sales flowing
Iran’s oil exports are being pursued “in line with macro policies and through diverse methods,” Deputy Oil Minister Hamid Bovard said, pushing back against claims that the Islamic Republic had shifted its marketing strategy.

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