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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 crude oil shipments to China approach a two-year high but Asian market diversification is being felt
Saudi crude shipments to China are expected to average 1.56nm barrels per day in the coming month, amounting to a total of 51mn barrels for August.
SEFE secures further LNG supplies from Abu Dhabi, US
SEFE has bolstered its LNG supplies with new deals with ADNOC Gas and Venture Global
Saudi overproduces OPEC+ quota, albeit briefly
Saudi Arabia has issued a firm rebuttal to suggestions it overproduced crude oil last month, insisting it remained fully compliant with its OPEC+ target despite a report from the International Energy Agency claiming otherwise
Iran leads world oil production growth with 13% increase
Iran topped global crude oil production growth in 2024, increasing daily output by 374,000 barrels to achieve a 13% rise.
South Pars third refinery begins major overhaul
Iraq exports 6mn barrels of oil to US in June
US cracks down on Iran’s ‘shadow banking’ with fresh oil sanctions
The United States slapped a fresh set of sanctions on Iran, targeting what officials call a “shadow banking system” – a covert financial web that Washington accuses of propping up Tehran’s nuclear ambitions and arming its regional proxies.
Iran warns energy supply at risk after Israeli airstrikes hit gas infrastructure
Iran’s oil minister condemned Israel’s recent airstrikes on the country’s energy facilities as a “violation of international law” and a “threat to global stability.”
Oman launches first $200mn energy transition fund with China’s Templewater
Oman launched its first dedicated energy transition investment fund, partnering with Hong Kong-based private equity firm Templewater to back projects in green fuels and renewables.
UAE's ENOC appoints Hussain Sultan Lootah as CEO
Dubai-based global energy company Emirates National Oil Co. Group and revealed its new CEO this week – an experienced industry official with 30 years of leadership experience in the oil and gas industry, Hussain Sultan Lootah.
Just 111 of the world’s biggest companies are causing $28 trillion worth of climate damage, says study
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Iranian state driller completes 100 oil, gas wells in 2024, targets up to 150 this year
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TotalEnergies explores two natural gas areas in Egypt’s deepwater Mediterranean
French oil major TotalEnergies is currently exploring two potential natural gas deposits n Egypt’s deepwater Mediterranean.
KRG delegation in Baghdad to finalise oil, salary deal
A high-level Kurdish delegation arrived in Baghdad this week for final negotiations aimed at resolving a bitter and economically damaging dispute with the federal government
Iraq raises output at southern oilfields
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Santos strikes two-year LNG deal with QatarEnergy
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Iran’s gas exports plunge 30% in 2024 as domestic demand surges, OPEC data show
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Syria’s Baniyas refinery maintenance to boost production capacity by 25%
Baniyas Refinery in Syria continues to carry out extensive maintenance work on its production units as part of a plan aimed at enhancing operational efficiency and productivity.
Iraqi crude oil supplies to India fall 4% in first half of 2025
Iraqi crude oil supplies to India dropped by 4% in the first half of 2025 compared to the same period last year

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