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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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Egypt secures deal with Eni to export Cyprus’ Cronos gas field output
Egypt has agreed with Italy’s energy major Eni to re-export the entire production of Cyprus’ deepwater Cronos gas field in the Eastern Mediterranean
Sunfusion project of Turkish refiner Tupras to produce biofuel from algae and yeasts
Top Turkish refiner Tupras is working on a technology that will produce biofuel from purified microalgae and oleaginous yeasts with the use of solar energy, Balkan Energy Green News reported on September 16.
SOCAR says world’s largest container shipping company MSC to take stake in Turkish terminal on Aegean Sea
Terminal Investment Limited, a unit of Mediterranean Shipping Company (MSC), the world's leading container shipping company, is to become a shareholder in SOCAR Terminal in Turkey, Azerbaijani state-controlled SOCAR said on September 16.
ADNOC-led group axe plans to buy Australia's Santos
Chevron signs $610mn deal to extend Israeli gas exports to Egypt
US energy major Chevron announced a deal with Israel’s state-owned pipeline operator to construct the Nitzana pipeline, which will transport natural gas from the Leviathan field to Egypt,
Chinese engineering firm scores $4bn in contracts at Qatari oil and gas field
China’s Offshore Oil Engineering Compan has secured two major contract packages from QatarEnergy worth about $4bn for the redevelopment of the Bul Hanine offshore oil and gas field.
US blacklists 16 people, entities over Iranian oil sales
The United States has imposed fresh sanctions on a network of individuals and firms it says have been helping Iran sell oil and funnel money to its military, in the latest move under President Donald Trump’s “maximum pressure.”
IEA warns that output at existing oil and gas fields is falling faster than expected
Analysis of thousands of reservoirs shows that many of the largest conventional fields have already peaked, while unconventional sources such as shale need constant drilling to maintain production.
Iraq ranks second among OPEC oil producers in August
Iraq was the second-largest crude oil producer in OPEC in August 2025, according to the latest figures released by the Organisation of the Petroleum Exporting Countries (OPEC)
Iran says gas industry needs billions in investment to hit output goals
Iran’s gas industry requires $42bn in investment to meet production targets set under its Seventh Development Plan (SDP), a senior official said, underscoring both the scale of the opportunity and the hurdles facing the energy sector.
Iran lifts output at South Azadegan oil field with new well
Iran has boosted crude output at its giant South Azadegan oil field in the southwestern oil-rich province of Khuzestan after state contractor Petropars brought a new well onstream.
Jordan’s JPRC relaunches $2bn tender for refinery’s fourth expansion
The Jordan Petroleum Refinery Company (JPRC) has relaunched the tender for its long-delayed fourth expansion project, worth an estimated $2bn
Libya takes urgent steps to stabilise electricity supply amid fuel challenges
Libyan authorities are currently working to address the ongoing electricity crisis to secure supply for citizens and prevent power outages.
Iraq’s SOMO eyes Africa and Latin America as new destinations for oil exports
Iraq is working to diversify its crude export markets and increase investment in liquefied petroleum gas (LPG) infrastructure
Iraq continues export focus with strategic oil link to Oman
Iraq is exploring a highly ambitious plan to construct a crude oil pipeline to Oman
Egypt signs oil and gas exploration deals with Dragon Oil, Perenco and Apache worth over $121mn
Egypt said the three deals cover Offshore North Sinai, East El-Hamd (Gulf of Suez), and an integrated Western Desert area, committing more than $121m to exploration work and signing bonuses.
Iraq signs joint development agreement with TotalEnergies and QatarEnergy
Iraq signs major energy development agreement with TotalEnergies and QatarEnergy to develop Artawi oil field and boost electricity supply through gas recovery.
UAE’s Dragon Oil boosts Egypt presence with $30mn Suez Gulf investment
Dubai-owned Dragon Oil signs $30mn agreement with Egypt to drill new oil and gas wells in Suez Gulf region as part of strategic expansion.
Iran completes overhaul of South Pars platform in 19 days
The Iranian state-run Pars Oil and Gas Co. (POGC) has wrapped up an overhaul of the SPD11 offshore platform at phases 9 and 10 of the mammoth South Pars gas field in the Persian Gulf in just 19 working days.
Iran’s NIOC signs $600mn deal with local firms to develop small gas field
The National Iranian Oil Co. (NOIC) signed a $600mn contract with local companies to develop the Madar gas field in the southern province of Bushehr.
Iran opens new pipeline to bolster northern gas grid
Iran has launched a 16-inch, 22-km pipeline linking the villages of Polur and Vana in Mazandaran province as part of a push to shore up gas supplies in the country’s north.
Iraq’s Kirkuk refinery starts production of high-octane gasoline
A new hydrogenation and gasoline upgrading unit has begun production at the Kirkuk refinery, with an operating capacity of 12,000 barrels per day (bpd)
Kuwait Petroleum eyes pipeline leasing to fund $65bn investment drive
Kuwait Petroleum Corporation (KPC) is reportedly exploring the option of leasing part of its pipeline infrastructure to help finance a sweeping $65bn investment programme.
Syria to launch major modernisation project at Baniyas refinery in 2026
The Oil Administration in Syria has announced plans to modernise the Baniyas refinery by 2026. insisting that the works will not affect the availability of petroleum products in the market
Azerbaijan and UAE advance renewable energy partnership with solar and wind rollout
Azerbaijan's AzerEnergy advances renewable energy cooperation with UAE's Masdar on 1,000MW solar and wind projects scheduled for completion by 2026.
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