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 says Lavan refinery output to recover to 70% after strike

13 April 2026

Iran’s deputy oil minister vowed to restore fuel production capacity at the Lavan refinery in the Persian Gulf to at least 70%, days after an air strike on the facility that Iranian media blamed on the United Arab Emirates.

Iranian tanker delivers oil to India for first time in seven years

13 April 2026

A very large crude carrier (VLCC) operated by the National Iranian Tanker Company (NITC) has delivered 2mn barrels of crude oil to India, making the first such shipment in seven years after a US sanctions waiver.

Iran assigns South Pars refinery rebuild to NIGC after March strike

13 April 2026

Iran’s Oil Ministry has tasked the National Iranian Gas Co. (NIGC) with the reconstruction of two refineries linked to the South Pars gas field, the world’s largest, after they were hit in an Israeli air strike in mid-March.

Lebanon on the brink of energy crisis following Iran war spillover

13 April 2026

Lebanon faces an energy crisis that extends beyond immediate fuel price volatility fueled by the Iran war, according to a study by the Arab Center for Research and Policy Studies.

Qatar supply shock could cause ‘very painful’ gas crisis Goldman Sachs warns

12 April 2026

A natural gas crisis could be on the horizon, a Goldman Sachs analyst warned in the bank’s “Exchanges” podcast.

Iraqi and Saudi oil flows through Hormuz reach 6mn barrels

12 April 2026

Shipments carrying around 2mn barrels of Iraqi crude and a further 4mn barrels of Saudi oil had passed through the Strait of Hormuz on their way to global markets, in a sign of improving energy flows from the Gulf.

Trump orders naval blockage of Iran in a new shockwave for energy markets

12 April 2026

Following the collapse of ceasefire talks this weekend US President Donald Trump has ordered a full naval blockade of shipping into and out of the Persian Gulf.

UK's Starmer and Oman's Sultan Haitham discuss ceasefire and Strait of Hormuz shipping

12 April 2026

UK PM Keir Starmer and Oman's Sultan Haitham discussed the Pakistan peace talks and Strait of Hormuz shipping crisis, with Starmer praising Oman's rescue efforts and Ukraine's drone expertise in the region.

Trump blockade threat would only impact small number of vessels, shipping expert says

12 April 2026

Trump's threat to blockade the Strait of Hormuz would have minimal impact on shipping given already low vessel traffic through the waterway, says Vespucci Maritime CEO Lars Jensen, with most firms waiting on a peace deal before resuming transit.

Naphtha shortages leading to petrochemical plants force majeures and record prices

10 April 2026

Petrochemical producers across Asia have begun shutting down operations after disruptions to shipping through the Strait of Hormuz reduced supplies of the critical naphtha and liquefied petroleum gas (LPG) feedstocks.

South Korea sends special envoy to Iran over 26 ships trapped in Strait of Hormuz

10 April 2026

South Korea sends a special envoy to Iran after 26 Korean-linked ships became trapped in the Strait of Hormuz. Seoul says contradictory US and Iranian statements on the waterway's reopening prompted the move.

Gulf oil producers ask Asian refiners to prepare for resumption of Hormuz exports

10 April 2026

Saudi Aramco, Iraq's SOMO and Kuwait Petroleum ask Asian refiners to prepare loading programmes for April and May as Gulf producers move to resume crude exports through the Strait of Hormuz after the ceasefire.

Saudi Arabia confirms Iranian attack on East-West Pipeline and Abqaiq processing plant

10 April 2026

Saudi Arabia confirms attacks on the East-West Pipeline and Abqaiq, the world's largest crude stabilisation plant. Satellite images show thick smoke rising from the site hours after the US-Iran ceasefire was announced.

Libya announces new oil and gas discoveries in northern and southern regions

10 April 2026

Libya announced three new oil and gas discoveries in the north and south of the country

NewMed, EGAS seal 15-year deal to channel Cypriot Aphrodite gas into Egypt’s energy grid

9 April 2026

NewMed Energy (TASE:NMW), a partner in Cyprus’s offshore Aphrodite gas field, announced the signing of a 15-year agreement to supply natural gas to the Egyptian Natural Gas Holding Company-EGAS (EGX:EGAS)

Kazakhstan to in April raise oil volume piped by BTC to Turkish Mediterranean, says report

9 April 2026

Kazakhstan reportedly has plans to raise the amount of crude oil it pipes to the Turkish Mediterranean export hub of Ceyhan by 16% m/m in April.

Did America just hand the Gulf to Russia?

9 April 2026

The Iran war has turned Russia from a sanctioned energy pariah into an indispensable supplier for half the planet. With Urals crude at 13-year highs and sanctioned LNG going at 40% discounts, Moscow may be the war's real winner.

Russia emerges as 'strategic energy partner' for Global South thanks to Iran

9 April 2026

Russian oil hit a 13-year high before the ceasefire as Moscow pivots to "strategic energy partner" for the Global South. Kremlin says it is fielding "an enormous number" of requests for energy supplies as trade flows shift.

Trump warns US forces will remain in place around Iran until 'real agreement' is complied with

9 April 2026

Trump warns all US military forces will remain deployed around Iran until the ceasefire agreement is fully met, threatening that otherwise "the shootin' starts." He says Iran must not pursue nuclear weapons and Hormuz must stay open.

Syria reports 30% rise in Dijla oilfields production in Hasakah

8 April 2026

Syria’s state-owned oil company has announced a marked improvement in output from the Dijla fields in Hasakah province, saying production has risen by around 30%

BP announces new gas discovery off Egypt’s East Mediterranean

8 April 2026

UK energy major BP (LSE:BP) has announced a new gas discovery offshore Egypt in the East Mediterranean, following the successful drilling of the “Dennis West-1” exploration well within the Temsah concession area

Iraq approves tanker leasing to expand oil storage

8 April 2026

The Iraqi government has approved a set of new measures aimed at supporting oil marketing, storage capacity and domestic fuel supply, as part of efforts to maintain refinery operations and strengthen strategic reserves under current market conditions

Iran’s Lavan oil refinery battered on first day of Iran-US ceasefire

8 April 2026

An air strike hit an oil refinery on Iran’s Lavan Island in the Persian Gulf hours after a ceasefire declared by Iran and the United States took effect, marking a flagrant breach of the fragile truce.

Iraq secures 200,000 tonnes of liquefied gas to meet local demand

8 April 2026

Iraq’s Ministry of Oil confirmed that it is continuing measures to secure domestic consumption of liquefied petroleum gas (LPG) and petroleum products through national production. The cabinet approved importing two cargoes to support reserves.

Edited by

Frazer Simm

Editor

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