MEOG - Middle East Oil & Gas
US tightens sanctions on Iranian oil trade
The US has moved to close a brief window of flexibility on Iranian energy exports, revoking a June authorisation and replacing it with a narrow wind‑down period that runs only until July 17
TotalEnergies to partner in Iraq-Baniyas oil pipeline project
France's TotalEnergies is set to become a partner in a project to extend and rehabilitate an oil pipeline linking Iraq to Syria's Mediterranean port of Baniyas.
Iraq reiterates commitment to OPEC+ cooperation on oil market stability
Iraq has reaffirmed its commitment to continued cooperation within the OPEC+ alliance after participating in a meeting of member countries implementing voluntary oil production cuts.
China’s tepid demand, rising global supply could cloud Iran’s oil export revival
Iran could struggle to cash in on the temporary easing of US restrictions on its oil exports as weakening Chinese demand and rising global supply threaten to limit sales beyond its traditional customers, energy analysts said.
S&P warns Middle East conflict poses uneven risks across GCC economies
The economic and credit impact of the Middle East conflict will vary significantly across Gulf economies and industry sectors, with tourism, transportation, logistics and energy among the most vulnerable, S&P Global Ratings said on July 7.
Iran's Zagros Green Fuel wins first national standard mark for bioethanol fuel
Iran's Zagros Green Fuel Development has become the first domestic producer to win the national standard mark for bioethanol fuel, for its "Zagtanol" brand blended with petrol.
Egypt offers 62 gas investment opportunities amid upstream development push
Egyptian Ministry of Petroleum and Mineral Resources has launched 62 new investment opportunities through the Egypt Upstream Gateway (EUG) as the country announces a comprehensive revitalisation of its oil and gas sector
Iranian oil continued reaching customers despite sanctions, EIA data shows
Iranian crude and petroleum products continued to reach international markets despite years of US sanctions, with EIA data identifying at least 154 vessels involved in transporting Iranian cargoes recorded at 19 ports in four countries.
ADNOC acquires Shell South Africa's downstream business for $1bn
Abu Dhabi National Oil Company's retail distribution arm has acquired Shell's South African downstream business for $1bn, which includes around 580 fuel stations and other operations.
Iran strikes Qatari owned LNG tanker near Strait of Hormuz
Iran's IRGC fired missiles at two commercial vessels near the Strait of Hormuz on July 7, striking a Qatari LNG tanker owned by Nakilat on its port side at the engine room.
BOC moves to restore output as Iraq tests Hormuz alternatives
Iraq’s BOC has moved to restore output from three of the country’s largest oilfields
KOC presses ahead with gas production expansion
Kuwait’s state-owned upstream operator is quietly stepping up its gas production ambitions, signalling a measured but material shift in the emirate’s energy balance over the coming decade
Iraq seizes IQD25bn in expanding oil ministry corruption probe
Iraqi authorities have seized IQD25bn ($19.1mn), $1mn in cash and around 5kg of gold as part of an ongoing corruption investigation involving detained former Deputy Oil Minister for Refining Affairs Adnan Al Jumaili and other suspects.
Iran reportedly opens talks with Japanese crude oil buyers
Iran has begun discussions with Japanese companies on resuming crude oil exports under a temporary US sanctions waiver, although prospective buyers are seeking an extension of the waiver and assurances over shipping security.
ADNOC launches LNG trading platform in Abu Dhabi
ADNOC announced that it has launched an integrated LNG marketing and trading platform in Abu Dhabi Global Market, the free economic zone and financial centre of the UAE’s capital.
QatarEnergy to develop new zone in Mesaieed Industrial City
Qatar's Ministry of Commerce and Industry and QatarEnergy signed an agreement for the development of a new medium-industry zone in Mesaieed Industrial City.
GUPCO raises Egypt’s North Safa field production with new Gulf of Suez well
Egyptian Gulf of Suez Petroleum Company (GUPCO) is preparing to bring a new well online in the coming days, injecting an additional 2,500 barrels per day (bpd) into its production scale
UAE’s XRG buys stake in Trains 4 and 5 of Rio Grande LNG
XRG, a wholly-owned subsidiary of the Abu Dhabi National Oil Company (ADNOC), has acquired an interest in Trains 4 and 5 of the Rio Grande LNG plant owned by NextDecade
OPEC+ members stick together with latest output raise
OPEC+’s seven core producers have agreed a modest easing of voluntary supply curbs from August, signalling a cautious, coordinated shift in strategy rather than a wholesale change of direction.
Iraq’s US‑led energy realignment shapes production, exports and power
Iraq is deepening ties with US energy firms to reshape crude output, export routes and electricity supply, concentrating influence over future incremental barrels and grid resilience
Omani upstream firm OQEP wins inaugural ‘BBB-‘ rating from S&P
S&P Global Ratings announced on July 4 that it has assigned its inaugural long-term issuer credit ratings to OQ Exploration and Production SAOG (OQEP), awarding the Omani upstream energy company a 'BBB-' investment-grade global rating.
Syria dispatches 7.3mn litres of petrol to ease fuel shortages
Syria's Ministry of Energy said it had begun distributing more than 7.3mn litres of petrol across the country as part of efforts to replenish fuel stations and ease shortages following a surge in demand.
Iraq signs Halliburton deal to develop Bin Omar and Sindbad oilfields
Iraq's Ministry of Oil has signed a five-year integrated management contract with US oilfield services company Halliburton to develop the Bin Omar and Sindbad oilfields in Basra.
Iran opens oil talks with Japan as US sanctions window ticks down
Iran is in preliminary talks with three Japanese companies on resuming crude sales for the first time since 2019, racing a 60-day US sanctions window that closes on August 21 amid mine risks and insurance hurdles in Hormuz.
Iran to charge Hormuz transit fees with "special considerations" for friendly states
Iran will charge service fees on ships transiting the Strait of Hormuz once its 60-day MoU with the US expires, its ambassador to China says, with Beijing and other friendly states promised special considerations.
Iran can use sanctions relief to cut oil discounts, expand sales, analyst says
Iran has found a rare opportunity to expand crude oil sales, slash price discounts and revive competition among buyers after the United States temporarily eased sanctions under a post-war agreement, an Iranian energy analyst said.
Kuwait raises crude oil output to 1.65mn bpd in June
Kuwait increased crude oil production to 1.65mn barrels per day (bpd) in June as exports through the Gulf region accelerated following a temporary easing of tensions between the US and Iran.
Genel Energy agrees $360mn all-cash acquisition of Egypt-focused Capricorn
UK-listed Genel Energy (LSE:GENL) has agreed terms to acquire British oil and gas exploration and production company Capricorn Energy (LSE:CNE) in an all-cash deal valued at $360mn, giving the company a strategic entry into Egypt's oil and gas sector
Kuwait invites global consortium bids for $7bn oil pipeline deal
Kuwait Petroleum Corporation (KPC) has asked global investment funds and consortiums competing for a stake in its oil pipeline network, valued at around $7bn, to combine their bids into joint consortiums to strengthen their offers.
Iraqi crude export delays ease as Gulf shipping recovers
Gulf oil exports are gradually returning to normal after regional shipping disruptions, with several international banks expecting crude shipments to recover to pre-conflict levels during July.
Iraq’s Karbala refinery faces allegations over financial irregularities and unlicensed foreign workers
An Iraqi member of parliament has alleged legal, administrative and financial irregularities at the Karbala refinery, claiming that hundreds of foreign workers are employed without valid work permits and raising questions over the management.
Oman’s OMIFCO to debut on MSX with $2.7bn market capitalisation
Oman India Fertiliser Company SAOG (OMIFCO) is set to debut on the Muscat Stock Exchange (MSX) on July 8 with an expected market capitalisation of OMR1.04 bn ($2.7 bn), the Oman-based firm said on July 1.
Iraq, Chevron sign confidentiality agreement for West Qurna 2 oilfield
Iraq's state-run Basra Oil Company signed a confidentiality agreement with US energy major Chevron to facilitate the exchange of technical information to evaluate the West Qurna 2 oilfield.
Iran’s twin oilfields ramp up crude output 35% to record high
Crude oil production at Iran’s twin Sepehr and Jofeir oilfields has surged by more than 35% to its highest level since production began, driven by new wells and expanded processing capacity, the head of the development project said.
China remains sole buyer of Iranian crude, US Treasury says
US Treasury Secretary Scott Bessent said that China was the only buyer of Iranian crude oil, with other countries holding back because of concerns that Washington could reimpose sanctions.
US imports of Iraqi oil fall to 4.029mn barrels in April 2026
US imports of crude oil and petroleum products from Iraq fell sharply in April 2026, declining to 4.029mn barrels from 7.943mn barrels in March.
Iran chief negotiator says oil exports top 40mn barrels after US peace deal
Iran has exported more than 40mn barrels of crude oil since the United States lifted its naval blockade on Iranian ports under a temporary peace agreement signed on June 17, Iranian chief negotiator Mohammad Baqer Ghalibaf said.
QatarEnergy, ExxonMobil, Cyprus strike deal to exploit gas discovery off Cypriot coast
QatarEnergy, ExxonMobil and Cyprus have signed a commercial discovery declaration for the Glaucus and Pegasus gas fields in Block 10 offshore Cyprus, advancing plans to exploit the country’s offshore gas resources.
Energy statistics show we remain an overwhelmingly fossil fuel-based world
Renewables are growing fast, but oil and gas by far still dominate the global energy system.
Iraq seeks new Kirkuk-Ceyhan deal as it advances Syria oil route
Iraq has dispatched a high-level ministerial delegation to Ankara to negotiate an extension of the agreement governing the Iraq–Turkey oil pipeline, while pursuing parallel discussions with Syria on reopening alternative export routes.
Iraq's SOMO offers steep discounts on Basra crude as Hormuz tensions persist
Iraq's State Organisation for Marketing of Oil (SOMO) has offered steep discounts on official selling prices for Basra Medium and Basra Heavy crude to contracted buyers, as concerns over shipping through the Strait of Hormuz weigh on demand for July
Iraq's Artawi gas project targets 300mn cubic feet daily in its first phase
Iraq's Ministry of Oil has reaffirmed the strategic importance of the Artawi gas field project as part of its plans to increase associated gas utilisation, enhance energy security and reduce emissions.
Iranian crude option re-emerges for Pakistan
Industry executives say refineries in the country remain technically capable of processing Iranian crude. However, commercial and operational hurdles to this being a profitable undertaking continue to limit its attractiveness.
Egypt increases natural gas supplies to industrial sector by 12%
The Egyptian Ministry of Petroleum and Mineral Resources has increased natural gas supplies to the industrial sector by nearly 12%, equivalent to 200mn cubic feet per day
Iran could regain four key Asian oil markets if US sanctions lifted
Iran could once again rely on four major Asian markets, China, India, Japan and South Korea, for its crude oil exports if banking sanctions are lifted, a former senior official at the National Iranian Oil Co. (NIOC) said.
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