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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Need more convincing?

Oil and gas sectors post 16% growth in nine months says Iran’s top banker

18 March 2024

Iran’s oil and gas sectors grew more than 16% together between March 21 and December 21, the first nine months in the Persian calendar year, the governor of the Central Bank of Iran said.

BP and ADNOC pause buy-in offer for Israel’s NewMed

14 March 2024

Israeli gas producer NewMed has announced that a $2bn offer to purchase a 50% interest made by British supermajor BP and the United Arab Emirates Abu Dhabi National Oil Company (ADNOC) has been frozen.

First North Field modules shipped by Saipem to Qatar

14 March 2024

Italian oilfield services firm Saipem has loaded and shipped the first three North Field modules from Indonesia to Qatar to be installed. The modules include one wellhead production as well as two riser platforms.

Iran remains OPEC’s third-largest crude oil producer in February

14 March 2024

Iran remained the third-largest crude oil producer among OPEC member states in February despite a slight monthly drop in output, a regular study by the Organization of the Petroleum Exporting Countries showed.

US produced more oil in 2023 than any country for sixth consecutive year

14 March 2024

The US produced more oil than any country at any time for the past six years in a row, according to the US Energy Information Administration.

ADNOC awards early EPC deal for Ruwais LNG project

13 March 2024

ADNOC has awarded a contract for early engineering works on its planned Ruwais LNG project to a consortium of services firms.

Bapco Upstream receives bids for seismic work

13 March 2024

Bahrain’s state-owned Bapco Upstream has kicked off a bidding process to support a seismic survey to support an E&P push by Manama.

Pipeline and tanker to support Iraqi export efforts

13 March 2024

Despite ongoing output restraint among members of the OPEC+ group, Iraq continues to invest in expanding its crude export capabilities from its southern ports.

Kuwait, Iran continue row over Gulf gas field

13 March 2024

The long dispute over the Durra/Arash gas field in the northern Persian Gulf has again come to the fore as Iran this week rejected a communique issued by the Saudi Arabian-led Gulf Cooperation Council regarding the sovereignty status of the field.

Aramco aims for Jazan PX unit start-up in Q3

13 March 2024

Saudi Aramco is making progress on its planned 800,000 tonne per year PX plant, aiming for a Q3 startup of its Jazan paraxylene unit, according to a comment made by a market source on March 11.

Aramco doubles down on gas push as dividends soar

12 March 2024

As Aramco decides what to do with another bumper set of financial results, LNG investment opportunities are on the table.

Iraq in talks with Iran to get Turkmenistan gas via Iranian pipeline

12 March 2024

Iraqi Electricity Minister Ziad Ali Fadel said his country was in talks with Iran to use its pipelines to import natural gas from Turkmenistan.

Iraqi ministry discusses gas development with Gazprom

11 March 2024

Iraq’s Ministry of Oil is intensifying efforts to bolster the country’s gas sector, aiming to elevate services to citizens while adhering to modern technical and environmental standards.

Iraq completes work on northern pipeline

11 March 2024

Iraq’s state Oil Pipelines Co. (OPC) announced this weekend that it the completion of rehabilitation works on the Baiji-Kirkuk oil products pipeline.

Iran crude sales won’t be harmed in case of Trump’s re-election, says oil minister

11 March 2024

Iran’s crude oil exports will not be hurt if former US president Donald Trump wins the upcoming presidential election, Oil Minister Javad Owji said amid threats of further sanctions on the country’s petroleum industry.

Iran signs deals to boost pressure in South Pars gas field

11 March 2024

Iran’s Oil Ministry has signed deals with local companies to boost pressure in the colossal South Pars gas field under what is deemed as “the most important and strategic plan of the petroleum industry.”

Saudi Aramco profits fall in 2023 on lower oil prices

11 March 2024

Saudi Aramco reported a steep 25% decline in profits for 2023 as the energy giant cut production and oil prices fell sharply during the year.

POGC signs deals to improve South Pars gas recovery

11 March 2024

Iran’s Pars Oil and Gas Co. has inked a groundbreaking series of contracts valued at $20bn with domestic contractors aimed at enhancing pressure at the South Pars gas field's wells and elevating its recovery factor.

Iran officially launches production at Sepehr and Jofeir oil fields

11 March 2024

Iran has officially begun exploitation at two major oil fields in southwestern Khuzestan province to add 50,000 barrels per day to its crude production capacity.

Mohammad bin Salman transfers 8% of Aramco shares, company says no impact on business

7 March 2024

Saudi Crown Prince and Prime Minister of Saudi Arabia Prince Mohammed bin Salman (MbS) has announced the transfer of 8% of Saudi Aramco's total issued shares to companies fully owned by the Public Investment Fund (PIF).

Turkey signs MoU to transport Turkmen gas to Europe

7 March 2024

Turkey and the Central Asian state of Turkmenistan last week signed a memorandum of understanding regarding the transport of Turkmen gas across Turkey to Europe and a letter of intent for cooperation in the field of natural gas.

Iran confiscates US oil by court ruling in sanctions case

7 March 2024

Iran confiscated $50mn worth of American crude from a tanker seized last year by order of a Tehran court.

Edited by

Frazer Simm

Editor

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