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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 eyes electricity as replacement for fossil fuels
Iranian President Masoud Pezeshkian said his government was pushing ahead with plans to replace fossil fuels with electricity, despite the country sitting on some of the world’s largest oil and gas reserves.
Iran shrugs off US sanctions on oil minister as ‘futile’
Iran played down the latest US sanctions targeting its oil sector after the US Treasury Department blacklisted Iranian Oil Minister Mohsen Paknejad.
Iraq and Turkey agree to double power supply
US imposes sanctions Iran’s oil minister
The United States has imposed sanctions on Iran's Minister of Petroleum Mohsen Paknejad and several entities involved in transporting Iranian oil to China.
Iraq's Maysan fields produce 300,000 barrels of oil daily
The total production from oil fields in Maysan Governorate, eastern Iraq, amounts to approximately 300,000 barrels of crude oil and around 140mn cubic feet of associated gas.
Iraq aims to produce 450,000 bpd from Kirkuk's oil fields
The Iraqi government aims to produce 450,000 barrels of oil per day and 400mn cubic feet of gas per day from Kirkuk's oil fields once renovated.
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.
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