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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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Deal or no deal? Comparing the Iran MoU to the JCPOA
When the US and the P5+1 concluded the Joint Comprehensive Plan of Action in 2015, the document ran to 159 pages, enshrined in UN Security Council Resolution 2231 with a snapback mechanism.
Libya's NOC signs production-sharing deals with energy majors
Libya's National Oil Corporation (NOC) has signed production-sharing agreements with several leading international companies following the country's first licensing round in nearly 20 years
Syria signs gas field development deal with US firms ConocoPhillips and Novatera
Syria’s state-owned Syrian Petroleum Company (SPC) has signed an agreement with US-based energy companies ConocoPhillips and Novatera Energy to develop several gas fields and increase production from existing assets.
Bahrain opens two tenders for Bapco, drawing nine bids
Bahrain's Tender Board opened two government tenders on June 16, with well production testing services for Bapco Exploration and Production drawing competition from nine companies.
Iran says peace memo with US to waive sanctions on oil, petchem exports
Sanctions on Iran’s exports of crude oil, petroleum and petrochemical products will be lifted under a peace memo between Tehran and Washington aimed at ending a war that the United States and Israel launched against the country in late February
South Korea, Qatar reinforce vital LNG supply alliance
South Korea and Qatar held high-level discussions to expand bilateral cooperation in energy and advanced industrial sectors, the South Korean Ministry of Trade, Industry and Resources reported on June 15.
New initiative launched to redirect Gulf energy flows away from Strait toward Mediterranean
Syria envisioned as key cog in new energy distribution network.
Iran to drill new wells in three phases of South Pars gas field
Iran will soon begin drilling new wells at phases 22 to 24 of the giant South Pars gas field as part of a development programme aimed at increasing natural gas extraction and completing the expansion of the three phases, a project official said.
After the blockade: what Hormuz’s reopening does and does not resolve
A US-Iran memorandum has reopened the Strait of Hormuz after 108 days, but structural damage to energy markets, insurance and tanker routes will persist well beyond the diplomatic announcement
Egypt and Eni discuss gas output increase and Cronos field link-up
Egypt is currently discussing plans with Italian energy major Eni to increase natural gas production from the company's concession areas in the Mediterranean and the Nile Delta, as well as the Cronos field link-up
Egyptian military transfers 10% stake in Wataneya fuel stations to Taqa Arabia ahead of IPO
Egypt has transferred a 10% stake in 172 Wataneya fuel stations to Taqa Arabia (EGX:TAQA) as part of preparations for a future stock market listing and broader IMF-backed reforms aimed at reducing the military's role in the economy.
Baghdad and Erbil forge pact to shield Kurdistan oil infrastructure
Authorities in Baghdad and Erbil have agreed a joint security framework to protect international oil companies operating in northern Iraq
Iran boosts South Pars Phase 11 output with new well
Iran has brought a new well on stream at Phase 11 of the South Pars gas field, the final development phase of the world’s largest gas reservoir on the Iranian side, adding about 2.5mn cubic metres (mcm) per day to the phase’s production capacity.
Turkey set to take $14bn hit from Hormuz crisis
Think tank Ember calculates cost to Ankara of energy shock caused by Iran war.
Iraq’s petrol imports exceed 118,000 tonnes in Q1 2026
Iraq imported 118,298 tonnes of petrol during the first quarter of 2026, marking a sharp decline from the same period last year, petrol imports between January and March fell by 66.1% to 349,292 tonnes, compared with 1,034,000 tonnes during 2025.
Turkmenistan would risk offending Russia for 30 bcm of Trans-Caspian gas, but likely not 10 bcm, says analyst
Turkmenistan would risk upsetting gas export rival Russia for a 30-bn cubic metre (bcm) Trans-Caspian Pipeline (TCP) but likely not for a 10-bcm TCP, according to an energy analyst.
Egypt adds 12,000 barrels per day from two-week Western Desert investments
Egypt's petroleum sector has added nearly 12,000 barrels per day (bpd) of crude oil and condensates to Western Desert output over the past two weeks
Oman targets 48% cut in upstream oil and gas emissions
Oman’s Ministry of Energy and Minerals is targeting a 48% reduction in greenhouse gas emissions from the country’s upstream oil and gas sector, a senior official announced on June 13.
Libya's oil revenues hit decade high in May on Hormuz crisis windfall
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BREAKING: Pakistan says final text of US-Iran peace deal agreed
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Ten reasons oil is still below $100 a barrel despite the Iran war
More than 100 days after war in Iran disrupted one of the world's most important energy chokepoints, oil prices remain below $100 a barrel.
India pivots to US for LNG supply
US supplied India with over 40% of its LNG supply in May.
Egypt's Sun Misr wins €46mn gas turbine maintenance contract in Jordan
Egyptian maintenance firm Sun Misr has won an international tender worth €46mn issued by Arab Potash Company in Jordan for long-term gas turbine maintenance at the company's power generation station,
Qatar University signs research and training accord with QatarEnergy LNG in Qatar
Qatar University has signed a memorandum of understanding with QatarEnergy LNG to expand cooperation in education, research and innovation, building on collaboration spanning more than two decades.
Trump says US will hit Iran hard, signals move on Kharg Island oil hub in United States
US President Donald Trump says the United States will hit Iran hard and signals an intention to take Kharg Island and Iran's oil infrastructure, comparing the approach to US policy on Venezuela.
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