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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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Shell plans to expand Iraq investments, CEO tells PM
Oil shipping rates jump after dozens of vessels hit by US sanctions
Supertanker freight rates surged sharply after the United States blacklisted more vessels carrying sanctioned oil from Russia and Iran.
Iranian petrol consumption grows by 7.4%
National Iranian Oil Products Distribution Company (NIOPDC) head Keramat Veis Karami revealed this week that Iran’s petrol consumption has grown 7.4% when compared to 2024.
UK and Iraq sign GBP12.3bn partnership deal
The UK and Iraq will sign strategic partnership and security agreements during Iraqi Prime Minister Mohammed Shia' Al-Sudani's visit to London on January 14.
TPAO arm contracts Subsea7 for Sakarya gas field work offshore Turkey
Turkish Petroleum Offshore Technology Centre AS (TP-OTC) has contracted international offshore service provider Subsea7 to provide inspection, repair and maintenance (IRM) services at the Sakarya offshore gas field.
TurkStream is now the only route for Russian gas to Europe
KPC to fund pipelines to support oil output
State-owned Kuwait Petroleum Corp. (KPC) plans to invest KWD2.2bn ($6.6bn) in developing pipelines to boost oil production capacity.
EBS meets Iraqi ministry to discuss East Baghdad plans
China's EBS has held meetings with Iraq’s Ministry of Oil to discuss plans for the East Baghdad oilfield.
ADNOC Gas hands out contracts for Ruwais LNG
A raft of contract awards was announced to support the development of the UAE’s key new gas export facility
MEOG: SNOC contracts Hilong for onshore drilling work
Turkey keen to play role in revitalising Syrian energy sector
With Syria's Bashar al-Assad now out of power and sheltering in Russia, several of the country’s neighbours are prepared to step in and fill the energy gaps with offers of fuel and power supply.
Iran faces uphill task to secure $125bn to develop oil, gas industries, minister warns
Iranian Oil Minister Mohsen Paknejad laid out the need to drum up $125bn in investment over the next four years to develop Iran’s oil and gas industries, a task he labelled a “hard job.”
Newly developed gas field joins Iran’s national grid
Iran has commissioned an onshore gas field in the southern province of Fars, pumping 3mn cubic metres (mcm) into its national trunkline.
Iraq launches new gas project, aims for self-sufficiency
Iran may shift economic capital to Makran coast
Moving Iran's capital from Tehran is not feasible, but the country could relocate its economic centre to the Makran coastal region if proper infrastructure is developed, the head of Iran's Supreme Council of Provinces said on January 9.
Oman LNG sends first cargo to Shell under 10-year deal
Oman LNG has successfully loaded the first cargo of LNG purchased by Shell under a 10-year offtake agreement.
Qatar dismisses reports on revival of “piped gas for Europe” via Syria and Turkey project as pure “speculation”
Iran seeking to get back 25mn barrels of oil trapped in Chinese ports
Iran is pressing to reclaim 25mn barrels of crude oil held in Chinese ports for six years due to sanctions imposed by former US president Donald Trump.
Iranian gas suppler boosts output by 42% amid ongoing shortage
The CEO of a state-run energy company in Iran said its gas output had surged by around 42% this year as part of efforts to alleviate a chronic fuel shortage in the country.
Saudi Arabia enacts new petroleum and petrochemicals law
Key Chinese port bans tankers carrying sanctioned oil
Shandong Port Group, the largest oil terminal receiving oil from Iran, Russia and Venezuela, has banned the entry of US-sanctioned tankers amid a major decline in Iranian oil exports over the past two months.
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