MEOG - Middle East Oil & Gas

Saudi Arabia, Turkey and Pakistan activate mutual defence alliance unveiled two months ago

Saudi Arabia, Turkey and Pakistan said on October 6 that they had decided to activate their new mutual defence alliance, the Mecca Pact, with Turkish and Pakistani troops to be “rapidly deployed” to the Saudi Kingdom.

MISC names Th'ailib LNG carrier

Malaysia’s MISC Group has named its latest LNG carrier, Th'ailib, at a Samsung Heavy Industries shipyard in South Korea.

Adnoc to supply 2mn tonnes of LNG to Thailand's Gulf Group

The Abu Dhabi National Oil Company announced that it has executed a multi-year sale and purchase agreement to supply 2mn tonnes of LNG to Thailand's Gulf Group.

Israel's Navitas forced to replace Falkland contractors following Argentine sanctions threats

Israel’s Navitas Petroleum confirmed in a regulatory filing that it has been forced to replace two withdrawing contractors on its Sea Lion project following sanction threats from the Argentinian government.

Turkey stands to significantly gain from oil pact with Iraq, say analysts

Turkey stands to make significant gains from an anticipated oil pact with Baghdad that replaces a decades-old deal governing Iraq’s northern crude exports, according to quoted analysts.

South Zagros gas output soars 6% as Iran faces widening supply gap

Gas output at state-owned South Zagros Oil & Gas Production Co. (SZOGPC), Iran’s second-largest gas producer, rose 6% in the first half of the Persian calendar year to about 25bn cubic metres.

EGAS, Chevron sign $88mn agreement for exploration in Mediterranean Lotus block

EGAS has signed a new concession agreement with US energy major Chevron (NYSE:CVX) to explore for natural gas and crude oil in the offshore Lotus block in the Mediterranean Sea, with a minimum investment commitment of $88mn

September LNG shipments through Strait of Hormuz hit highest levels since start of conflict

The number of LNG cargoes exiting the Strait of Hormuz reportedly rose to its highest monthly level in September since the start of the US’ and Israel’s war against Iran began earlier this year.

Baghdad and Ankara race to rewrite Iraq’s export map

With the Strait of Hormuz effectively shuttered since February, Iraq and Turkey are stitching together tankers, pipelines and a $80bn energy corridor to escape the chokepoint

Kuwait crude output recovers to 2mn bpd

Kuwait has restored crude production to about 2mn bpd, roughly three-quarters of pre-war levels, as tanker traffic through the Strait of Hormuz recovers

Ankara pitches Development Road as $80bn energy corridor

Türkiye plans to turn the proposed Development Road from Iraq’s southern ports to Europe into a multi-fuel energy corridor worth $80bn annually

Iran unveils 117-project push to lift crude output

Iran turns back tanker as Gulf flows rebound

Iran’s Revolutionary Guards ordered a tanker to turn back while transiting the Strait of Hormuz, amid a series of attacks on vessels which added to risks in the waterway even as regional oil flows recovered towards pre-war levels.

Tehran daily warns Hormuz closure is eroding Iran's leverage

Protracted restrictions on shipping through the Strait of Hormuz could weaken one of Iran’s key strategic levers by pushing Persian Gulf Arab states and global energy markets towards alternative routes, the conservative Quds newspaper said.

UAE’s ADNOC deepens Thai LNG push with Gulf Group supply deal

The deal covers 2mn tonnes of LNG.

South Sudan’s Kiir visits Kenya for talks on $16bn Lamu refinery and December elections

South Sudan is exploring a possible role in Kenya’s planned $16bn Lamu refinery as Juba looks to diversify oil-export options beyond Sudan, though no crude-supply, pipeline or equity agreement has yet been announced.

Tanker owners turn to counter-drone systems as maritime attacks mount

Shipping companies are increasingly installing counter-drone systems on commercial vessels as attacks in the Middle East and Black Sea push security risks — and the cost of operating on exposed routes — to unprecedented levels.

Delek's Ithaca Energy agrees $860mn purchase of Suncor's Canadian offshore assets

Delek Group's Ithaca Energy has agreed to buy producing offshore oil assets off Newfoundland and Labrador from Suncor for $860mn in cash, plus up to $250mn contingent on Brent prices.

Iraq seeks higher oil production and export capacity as crisis eases

Iraq’s Oil Minister Basim al-Abadi said that the difficulties facing the country in recent months were beginning to ease, as the ministry works to increase crude oil production and export capacity.

Israel's Ithaca Energy acquires all of Eni's UK oil and gas assets

Ithaca Energy, the North Sea operating arm of Israel’s Delek Group, executed a definitive share-swap agreement to acquire all UK oil and gas production assets of Italian energy giant Eni.

Iran war's Hormuz shock is biggest energy disruption on record - McKinsey

The closure of the Strait of Hormuz is the largest energy supply disruption in modern history, but the world has coped better than feared thanks to shock absorbers built after the 1970s, the McKinsey Global Institute says in a report published on...

South Korea's Saudi crude oil import share falls below 30%

Saudi Arabia's share of South Korea's crude oil imports fell below 30% for the first time in five years.

Yemeni government launches offensive as Houthis hit Aramco site

Rashad al-Alimi, chairman of the Riyadh-based Presidential Leadership Council, said his forces would reclaim territory lost to the Iran-aligned movement over the past 12 years

Iran oil minister resigns as trustee scandal widens

BOTAŞ seeks LNG carrier on 940-day charter

Turkey’s state pipeline operator BOTAŞ Petroleum Pipeline Co. has launched an open tender for the time charter of a single LNG carrier

Iraqi Oil Tanker company moves 2mn barrels beyond Strait of Hormuz in historic milestone

The state-owned Iraqi Oil Tanker Company (IOTC) has transported 2mn barrels of domestic crude oil aboard a chartered supertanker beyond the Strait of Hormuz, completing its first maritime transit of the strategic waterway in decades.

Tecnimont and CCC seal Safaniyah water injection deal

Italy’s Tecnimont and Consolidated Contractors Co. (CCC) have signed the construction contract for Saudi Aramco’s Safaniyah Water Injection Project

Iran's oil minister quits, replaced in shock announcement

Hamid Bovard, who runs the National Iranian Oil Company, is acting oil minister after Mohsen Paknejad resigned, leaving Iran's oil ministry in the hands of a veteran oilfield manager during the war with the US.

OQGN sets up $1bn sukuk programme

Oman's OQGN has established a $1bn sukuk issuance programme to secure flexible access to international debt markets

Qatari supply freeze pushes LNG spot prices to multi-year peak

Qatar’s prolonged absence from the global LNG market has driven spot prices to their highest levels since late 2022.

Iran war's Hormuz shock is biggest energy disruption on record, McKinsey says

The closure of the Strait of Hormuz is the largest energy supply disruption in modern history, but the world has coped better than feared thanks to shock absorbers built after the 1970s, the McKinsey Global Institute says in a report published on...

Iran starts work on new oil terminal at major southern port

Construction has begun on a new oil terminal at Shahid Rajaee Port in Iran’s southern city Bandar Abbas, Hormozgan province, after 9 hectares of land were handed over for the project.

Tajikistan starts taking Iranian oil as Russian fuel supply falters

Tajikistan has begun receiving Iranian oil and fuel as Russian supplies falter, putting Dushanbe in the path of US sanctions on Iran's petroleum trade.

Iran says US cannot cut oil exports to zero as September loadings halt

The United States cannot bring Iran’s oil exports to zero, a senior Iranian lawmaker said, despite tanker-tracking data showing Iranian crude loadings stalled in September after plunging to less than one-third of July levels in August.

Iran LNG needs €1.5bn to launch first production train

Iran’s liquefied natural gas (LNG) project needs a further €1.5bn ($1.7bn) to launch its first production train after being stalled since 2013, the head of Iran Liquefied Natural Gas Co. (Iran LNG) said.

Iraq’s BP faces legal action over alleged Rumaila gas flaring pollution

UK-based law firm Hagens Berman EMEA has sent a letter before action to BP, giving notice of intended legal proceedings over alleged gas flaring pollution at Iraq’s Rumaila oilfield near Basra.

Iraq’s Mosul faces persistent fuel queues as shortage enters fourth week

Long queues have formed at petrol stations in Mosul as a fuel shortage in Iraq’s Nineveh province approaches its fourth week, disrupting transport and daily economic activity.

Three vessels come under attack in Strait of Hormuz

Three vessels were hit by “unknown projectiles” in the Strait of Hormuz on September 29, the United Kingdom Maritime Trade Operations Centre said a day later, as tensions between Iran and the United States continue to play out in the waterway.

Azadegan makes cut for Iran's priority investment list

Iran has included the shared Azadegan oilfield on its list of 20 major projects aimed at boosting investment and foreign-currency earnings, with development of the country’s largest oilfield under way for four months, a senior official said.

Jordan raises petrol and diesel prices for October

Jordan will raise the prices of both petrol grades and diesel by JOD0.050 per litre from October 1, while keeping the price of kerosene and the household LPG cylinder unchanged.

Iraq widens Basrah crude discounts for October shipments

Iraq’s state oil marketer SOMO has offered deeper discounts on Basrah Medium and Basrah Heavy crude for October cargoes to encourage buyers to take delivery amid higher shipping costs and risks around the Strait of Hormuz

Qatar's Nakilat adds new LPG vessel to fleet

Qatar Gas Transport Company Limited, Nakilat, has officially inducted the 88,000 m3 Energy North into its operational fleet, the company confirmed in a corporate press release.

Iranian oil prices climb as Sidi Kerir Light hits $105.63

Iranian crude prices soared across major delivery markets, with Iran Light reaching $105.63 a barrel at Egypt’s Sidi Kerir terminal and all listed Iranian grades gaining $0.88.