MEOG - Middle East Oil & Gas

Category
Oil & Gas

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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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Israel signs $35bn gas export deal with Egypt

7 August 2025

Israeli company NewMed Energy announced the signing of a major natural gas export contract worth $35bn with Egypt through 2040.

Israeli Leviathan gas field signs historic $35bn deal with Egypt, says energy partner NewMed

7 August 2025

Israel’s Leviathan natural gas field signed a historic $35bn contract on August 7 to provide Egypt with natural gas supplies, marking the largest export contract in Israel’s history.

China Petroleum Engineering wins $2.52bn seawater pipeline contract in Iraq

7 August 2025

China Petroleum Engineering Corporation's subsidiary has won a $2.52bn (RMB18.03bn) contract for a seawater pipeline project in Iraq's Basra province.

Iran to boost Sarajeh gas storage as winter shortfall looms

7 August 2025

Iran plans to bolster its natural gas infrastructure by expanding capacity at the Sarajeh underground storage site near the central city of Qom by 50%, as the country braces for a potential record gas shortfall this winter.

Iraq cuts back gasoline import costs by 90% with new Kirkuk project

6 August 2025

Iraq has reduced its annual spending on imported enhanced gasoline from $5bn to $500mn following the inauguration of a new hydrogenation and fuel improvement unit in the northern province of Kirkuk.

India turns to Middle East for oil, with Iraq leading potential suppliers

6 August 2025

India is exploring new oil import avenues to offset potential disruptions in Russian crude flows, with Middle Eastern producers—notably Iraq, Saudi Arabia, and the UAE—emerging as key candidates to fill any supply gaps.

Iran deploys first mobile electric drilling rig at shared oil field

6 August 2025

Iran has deployed its first mobile electric drilling rig at the North Yaran oil field, a shared field with Iraq, in a bid to reverse declining output and push ahead with development plans.

Aramco profit slide deepens despite output boost, pressuring Saudi Arabian revamp

6 August 2025

Aramco’s quarterly profits continue to fall, but the company is ploughing funds into maintaining its upstream position, taking a bullish view of the market outlook

Saudi Aramco's natural gas production rises 6.8% in second quarter

5 August 2025

Saudi Aramco announced its natural gas production grew 6.8% year-on-year during the second quarter of this year, reaching 11.85bn standard cubic feet per day.

Saudi Arabia's ADES plans SAR1.42bn acquisition of Norway's Shelf Drilling

5 August 2025

A subsidiary of ADES Holding signed an agreement for a recommended offer to acquire Norway's Shelf Drilling in a deal valued at SAR1.42bn ($379mn).

Saudi Aramco reports 10th consecutive quarterly profit decline

5 August 2025

Saudi Aramco announced its 10th straight drop in quarterly profits as falling oil prices hit revenues, putting pressure on the key driver of Saudi Arabia's economy.

Iran’s South Pars gas field maintains output with major overhauls

5 August 2025

Iran has completed extensive overhauls in several facilities at its gigantic South Pars gas field, maintaining stable gas production despite harsh conditions and limited access to foreign technology.

India’s Hindustan Petroleum inks 10-year LNG deal with ADNOC Gas

4 August 2025

India’s state-run Hindustan Petroleum has agreed to a 10-year heads of agreement deal with the United Arab Emirates’ ADNOC Gas for the sale and delivery of 500,000 tonnes of LNG.

OPEC+ to raise oil production in September

4 August 2025

Eight key OPEC+ countries have announced a production adjustment of 547,000 bpd for September

Saudi Arabia has cut spending sufficiently despite oil price concerns, IMF says

4 August 2025

Saudi Arabia has cut spending enough this year and probably will not need to make further fiscal adjustments even if crude oil prices weaken.

Riyadh implements strategic 15.5km road development project

4 August 2025

Riyadh Municipality is implementing the development of Prince Faisal bin Bandar Road spanning 15.5 kilometres, extending from its intersection with King Salman bin Abdulaziz Road in the south to Saudi Aramco's oil pipeline in the north

Turkish Petroleum to join hydrocarbon field development in Kazakhstan

4 August 2025

Turkey’s state-owned oil and gas company, Turkish Petroleum, will participate in the development of hydrocarbon fields in Kazakhstan, Finance.kz has reported, citing Kazakh Energy Minister Almassadam Satkaliyev.

China’s ‘Dark Fleet’ working to evade sanctions, import Iranian oil

4 August 2025

China is covertly importing large volumes of Iranian oil through a clandestine network of vessels operating in international waters near Malaysia and Singapore, according to a major investigation

China vows to stand firm amid US tariff threats over Iranian oil imports

4 August 2025

China is unlikely to back down in the face of fresh US threats to impose punitive tariffs on Chinese exports over continued purchases of Iranian oil, analysts said.

OPEC+ nations to increase oil production by 547,000 barrels per day in September

4 August 2025

Eight OPEC+ countries will implement a production adjustment of 547,000 barrels per day in September.

Ukraine imposes sanctions on 94 "shadow fleet" captains from multiple countries

3 August 2025

Ukraine has imposed sanctions on 94 individuals from Russia, Myanmar, Iran, Pakistan, China, India, Bangladesh and Georgia, as well as five oil transportation companies.

Kuwait’s state oil giant looks to speed up Kuwaitisation

3 August 2025

Kuwait Petroleum Corp. has initiated a sweeping, top-down overhaul aimed at simultaneously reshaping its workforce

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Edited by

Frazer Simm

Editor

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