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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’s oil output climbs in 2025 despite tougher US sanctions, OPEC data shows
Iran’s oil production ticked up for the second month in a row in 2025, keeping the country in its position as OPEC’s third-largest producer, the cartel’s latest monthly report showed.
Chevron seeks alternatives to Venezuelan oil, Maduro regime slams ExxonMobil for alleged meddling
Chevron is exploring options to replace Venezuelan crude at its refineries, looking to Mexico, Brazil, and the Middle East for alternative supplies and the Maduro regime slams ExxonMobil for alleged meddling
Saudi Aramco cuts crude prices for Asia
Saudi Aramco has reduced crude oil prices for Asian buyers for April following the decision by OPEC+ to increase oil supply this month, according to Arab News.
Turkey’s TPAO and US oil producer Continental Resources link up to develop Diyarbakir Basin shale fields
National oil company Turkish Petroleum Corporation (TPAO) has entered into a joint venture agreement with US oil producer Continental Resources to develop shale fields in the Turkey’s Diyarbakir Basin.
Iraq faces energy crisis as US revokes Iranian gas waiver
British energy consultancies FGE and Platts have confirmed that the US decision not to renew sanctions waivers for Iraq includes Iranian electricity imports, not gas imports.
Siemens wins $1.6bn project to boost Saudi energy transition
German company Siemens Energy has won a $1.6bn project with Harbin Electric International to provide technologies for two gas-powered electricity stations in Saudi Arabia.
TEHRAN BLOG: Iran faces perfect storm as energy crisis meets Trump's foreign policy
Iran's energy crisis could push the country over the edge, with the Trump administration well aware of the plight of the Islamic Republic.
Iran completes largest land-sea seismic survey in oil-rich Khuzestan
Iran has pulled off its largest two-dimensional and three-dimensional seismic survey in both land and water environments in the southwestern province of Khuzestan, said the head of the exploration department of the National Iranian Oil Co.
Colombian gas market faces challenges amid import plans
President Gustavo Petro has announced that Ecopetrol will import natural gas directly from Qatar to mitigate domestic price speculation.
GECF bullish on natural gas as "integral" to energy mix for decades to come
“We are convinced now more than ever that natural gas is not just a bridge to the future. It is an integral part of the future,” GECF Secretary General Mohamed Hamel said.
Russia ships diesel to Syria on US-sanctioned tanker
Russia is reported to have shipped at least one cargo of diesel to Syria’s East Mediterranean region near Baniyas in recent weeks, using a tanker that has been sanctioned by the US government.
Iran’s oil ministry teams up with leading mobile operator to digitise petroleum sector
Iran's oil ministry has signed a memorandum of understanding (MoU) with the country’s largest mobile operator, Hamrah Aval, as part of efforts to push ahead with the digital transformation of its petroleum industry.
Iran strikes oil deposits estimated at 5bn barrels worth $346bn
Discovery announced by head of exploration department of National Iranian Oil Co. NIOC.
Genel to work with OQEP on Oman’s Block 54
Genel Energy has signed an EPSA with Oman’s Ministry of Energy and Minerals for the country’s Block 54 concession
Turkmenistan is trying to come out of its shell
Economic necessity is the mother of diversification.
Iran brings first infill well into production at South Pars gas field
Iran has brought online the first infill well of a large-scale drilling project at the giant South Pars gas field, said Touraj Dehqani, CEO of Pars Oil and Gas Co. (POGC).
SOCAR expands operations in Israel’s gas sector amid geopolitical shifts
SOCAR, in partnership with Britain’s BP and Israel’s NewMed Energy, is set to finalise a natural gas exploration work plan with Israel’s Ministry of Energy and Infrastructure within two weeks.
US pushes Iraq to use Kurdish gas after rescinding waiver
The US State Department has expressed hopes that Iraq will harness the natural gas resources of the Kurdistan Region after a waiver allowing imports from Iran was rescinded.
ADNOC explores US gas assets amid strategic expansion
ADNOC is pursuing acquisitions of gas production assets in the US to bolster its presence in the American energy sector
US sanctions reportedly slowing Iranian oil flow to China
A fresh wave of US sanctions targeting companies and tankers involved in the shipment of Iranian crude has driven up costs and risks and ultimately slowed down the flow of oil from Iran to China.
Turkey’s oil output reached 132,000 b/d as of March 1, says energy minister
Turkey’s oil output reached 132,000 barrels per day (b/d) as of March 1, Energy and Natural Resources Minister Alparslan Bayraktar told state news provider Anadolu Agency on March 9.
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