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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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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.
Iraq to make contract with UAE for 100mn cubic feet of gas
SOCAR Türkiye plans to invest $7bn in building additional Petkim petrochemical plants
Iranian energy giant pushes up oil, gas output in four months
Crude oil and natural gas production has been ramped up significantly at the Iranian Central Oil Fields Co. (ICOFC) over the past four months, its chief executive said.
Terms ironed out for Kirkuk redevelopment as WQ-1 hits record
Two major projects are gaining momentum that Baghdad hopes will enable it to meet an ambitious output expansion target and fulfil as yet unmet potential
Iraqi cabinet signs off on Basrah-Haditha pipeline
The Iraqi cabinet has sanctioned the Basrah-Haditha oil pipeline project
Kuwait maintains upstream progress
A Kuwaiti scholar has provided updates on the country's ongoing efforts to augment its reserves
SNOC contracts Hilong for onshore drilling work
SNOC has signed an onshore drilling contract with Ocean Oil Service, a subsidiary of Hilong Holding
Iranian gas production record shattered four times this year, state supplier says
Iranian Deputy Oil Minister Saeed Tavakkoli said that the country's natural gas output record had been broken four times since late July when the new government took office.
Iraq denies halting oil exports to Syria
First private oil terminal launched on pilot basis in southern Iran
Iran’s first private-sector oil terminal was launched on a pilot basis at the South Pars gas field in the Persian Gulf after the loading of fuel by a Bangladeshi vessel.
Iran to start further developing oil field shared with Iraq
Iran is set to kick off the second phase of the development of a shared oil field with Iraq with an investment of $1bn in less than three months.
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