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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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Crude output doubled at three western Iranian fields to 120,000 bpd
Crude oil production at three fields in Iran’s western Ilam province has doubled to 120,000 barrels per day (bpd) after a year of accelerated development work by the state-run Petroleum Engineering and Development Co., the project manager said.
Latest Iranian tanker seizure reportedly court-ordered, not retaliation
The recent seizure of a Marshall Islands-flagged tanker in the Persian Gulf by Iran’s Revolutionary Guards was carried out under a domestic court order and not as a tit-for-tat move against foreign parties, the Iranian media say.
EXPLAINER: Lukoil scrambles to sell its international operations
Time is running short for Russia’s second-biggest oil producer to divest its vast international business, after it was hit with US sanctions that will soon render its assets outside Russia effectively inoperable.
Syria’s Homs refinery to remain operational until new Furqlus plant is completed
The director general of Syria’s General Company for the Homs Refinery, Khaled Mohammad Ali, has confirmed that the refinery will continue operating and will not be shut down until the new refinery in Furqlus is entirely constructed and brought online
US imports of Iraqi crude oil fall to 149,000 bpd by mid-November
Iraq’s crude oil exports to the US declined last week, according to data released by the US Energy Information Administration (EIA)
Egypt extends Gulf of Suez and Nile Delta gas concession for Eni until 2040
Egypt’s General Petroleum Authority signed an agreement with Italian energy major Eni, represented by its subsidiary Eni North Africa Oil Company (AIOC), extending the Gulf of Suez and Nile Delta concession until 2040,
Oil tanker diverts to Iranian territorial waters in Gulf of Oman incident
Marshall Islands-flagged oil tanker diverts towards Iranian waters after being approached by three boats near UAE's Khor Fakkan in suspected targeted incident, British security firm reports.
Iran’s heavy crude price drops by $5 as output falls
The price of Iran’s heavy crude fell in October, in line with other OPEC reference grades, after a rise in September, the latest monthly report by the Organisation of the Petroleum Exporting Countries showed.
Output rises at Iran’s South Azadegan oilfield after overhaul
Iran’s state-run Arvandan Oil & Gas Co. (AOGC) boosted crude production at the giant South Azadegan oilfield in the southwestern province of Khuzestan by 8,500 barrels per day (bpd) after separating low-pressure wells from high-pressure ones.
Iraq slashes petrol imports by 37% in third quarter
Iraq cuts petrol imports 37% to 396,475 tonnes in Q3 2025 as country moves toward fuel self-sufficiency, State Oil Marketing Organisation reports.
Saudi Arabia's Aqaseem opens first European branch in Kosovo
Saudi motor oil trader Aqaseem establishes first European branch in Kosovo's capital Prishtina, expanding operations beyond existing Middle East and North Africa markets.
Iraq’s SOMO reports fuel imports at 656,000 tonnes in Q3 2025
Iraq imported nearly 657,000 tonnes of petroleum products in the third quarter of 2025, The bulk of the imports consisted of gasoline, which totalled 396,475 tonnes with 37% decline compared with the third quarter of 2024.
Egypt to repay $750mn of foreign oil companies' arrears by early 2026
Egypt’s Ministry of Petroleum plans to repay about $750mn of arrears owed to foreign oil companies operating in the country by the end of Q1 2026
Iran turns off flare stacks at Haftkel oilfield
The flare stacks at the Haftkel oil field in Iran’s southwestern Khuzestan province, which had been burning for nearly a century, have been extinguished as part of the Oil Ministry’s ongoing efforts to capture associated petroleum gas (APG).
Saudi Arabia's NMDC Energy and Baker Hughes sign offshore localisation MoU
Saudi Arabia's NMDC Energy signs MoU with Baker Hughes to explore offshore products and services localisation. Agreement covers use of fabrication yard in Ras Al-Khair Special Economic Zone for Gulf region and MENATI markets.
Iraq’s northern oil fields regain stability as BP supports production growth
Iraq’s northern oil sector is witnessing a period of relative stability after years of security and administrative challenges, with production from Kirkuk’s main oil fields, Bai Hassan, Jambur, Havana and Khabbaz, reaching about 320,000 bpd
UAE’s Dana Gas signs MoU with Syria to explore redevelopment of key gas fields
UAE-based Dana Gas announced that it has signed a Memorandum of Understanding (MoU) with the Syrian Petroleum Company to explore the redevelopment of existing gas fields that were severely damaged during Syria’s 13-year conflict
AEC to host G20 African Energy Investment Forum ahead of G20 Summit in Johannesburg
The African Energy Chamber (AEC) will host the G20 African Energy Investment Forum ahead of the G20 Summit in South Africa.
Iraq’s Oil Pipelines signs strategic partnership with Dubai’s Progwin
Iraq’s Oil Pipelines Company has signed a strategic partnership agreement with Dubai-based Progwin, marking a key step in the Iraqi Ministry of Oil's strategy to enhance the technical and engineering capabilities of the national oil sector
Iraq boosts oil exports to India as Saudi supplies to China decline
Iraq is set to increase its crude oil exports to India next December, as Asian oil markets undergo a reshuffle amid declining Saudi supplies to China for the second straight month
Egypt to import three LNG shipments in November amid rising domestic demand
The Egyptian General Petroleum Corporation will import three liquefied natural gas (LNG) shipments and issued a tender to its current suppliers for deliveries scheduled from mid to late November 2025.
Aramco reportedly pauses Safaniya onshore tender
Saudi Aramco is reported to have extended the bid deadline for its Safaniya onshore oilfield development project, according to industry publications
Iran unveils first home-grown mobile nitrogen generation unit for oil wells
Iranian engineers have designed and launched the country’s first mobile high-purity nitrogen generation and injection system for use in the oil industry, said Gholamhossein Mirzavand, head of the NISOC engineering department.
Iran’s NIDC deploys eight heavy rigs in five Iranian provinces
Iran’s National Iranian Drilling Co. (NIDC) deployed eight heavy onshore drilling rigs across five provinces to drill and complete wells in oil and gas fields run by the Iranian Central Oil Fields Co. (ICOFC), said the NIDC’s deputy for drilling.
Iran denies asking US for sanctions relief
Iran's National Security Council Secretary Ali Larijani denies Iranian requests for US sanctions relief, saying no message sent to Americans as other party was not ready to reach agreement in previous negotiations. Trump had claimed Iran requested sa

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