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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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Iran boosts petrol output to 130mn litres daily but consumption outpaces supply
Iran has raised its petrol production capacity by 18% this year to about 130mn litres a day by increasing refinery output and making greater use of petrochemical capacity, a senior official at the state fuel distributor said.
Tajikistan seeks 2.55mn tonnes of fuel from Iran
Tajikistan has asked Iran to supply 2.55mn tonnes of crude oil and petroleum products as it seeks to diversify its fuel sources amid reduced supplies from Russia, its Ministry of Transport said in a press release.
Saudi Arabia ships $150mn of fuel to Yemen power stations in 2Q26
Saudi Arabia supplied $150mn of fuel to run Yemeni power stations in Q2 2026
Arabian Drilling signs Oman contract with Masirah Oil for up to four offshore wells
Arabian Drilling Company has signed a contract with Masirah Oil Limited and Northern Offshore Ltd to drill two firm wells and two optional wells offshore Oman, the Saudi-listed drilling contractor announced on August 19.
UAE-linked tanker reportedly changes course for Iranian port
A tanker intercepted in the Strait of Hormuz has changed course for Iran’s Bandar Abbas port after initially listing the UAE’s Jebel Ali as its destination.
Iran says reviving more than half of lost gas processing capacity could take up to two years
Restoring around 57% of Iran’s gas processing capacity lost in an Israeli air strike could take one to two years, a senior official said, adding to pressure on a network already facing a sizeable supply deficit.
India remains uncertain about LNG supply from Qatar
Petronet is sounding the alarm as QatarEnergy examines its force majeure status on a month-to-month basis.
Turkey says Diyarbakir field could pump three times as much oil as Gabar
Turkey believes an oil field in Diyarbakir province could produce two to three times as much crude as Gabar, its largest onshore field.
Hellish scenes in Cyprus as Turkey’s problem with mountains of imported plastic waste washes ashore
Mounting pollution on northern Cypriot beaches show spillover costs of Ankara’s ambition to dominate Europe’s waste-processing trade.
Iran security chief mocks Trump's claim of ownership over Strait of Hormuz
Iran's security chief has dismissed Donald Trump's declaration that the Strait of Hormuz is US territory, saying Washington cannot even reopen the waterway, and welcoming the US to a "post-American order" in the Gulf.
UAE says two Iranian ballistic missiles fell in and near its waters
The UAE says it detected two ballistic missiles launched from Iran on August 18, one falling outside its territorial waters and one within. Neither hit land. Iran has not commented.
Saudi Aramco resumes crude loadings inside Strait of Hormuz after tanker attacks
Saudi Aramco has resumed crude loadings inside the Strait of Hormuz weeks after attacks on its tanker fleet, offering spot heavy cargoes as it works to restore disrupted exports.
Iraq PM orders urgent action to tackle oil export crisis
Iraqi Prime Minister Ali Faleh al-Zaidi ordered the Oil Ministry to find urgent solutions to the fallout from the country’s oil export crisis, calling for tangible results within a week.
Yemen's Houthis claim strikes on Saudi navy vessels in Red Sea
Yemen's Houthi movement says it struck a Saudi military landing ship and four escort boats with ballistic missiles in the Red Sea off Mokha, claiming the ship was destroyed. The assertions could not be independently verified.
Iran says Hormuz will stay shut until US lifts oil sanctions
Iran's parliament speaker Mohammad Baqer Qalibaf says the Strait of Hormuz will not reopen until the US lifts oil sanctions, frees blocked assets and ends its blockade, tying the vital shipping route to a disputed accord he says Washington has failed
Iran says oil slicks in Persian Gulf linked to tanker attacks
Oil slicks in the Persian Gulf and near the Strait of Hormuz were caused by attacks on vessels during the recent US-Israeli war against Iran, the head of Iran’s Ports and Maritime Organisation (PMO) said.
Iran secures 85% of budgeted oil revenue in five months, senior MP says
Iran has secured 85% of the oil revenue forecast in its current budget in just the first five months of the financial year despite an average 50% drop in oil sales during the period, a senior lawmaker said.
Aramco follows ADNOC out of Hormuz
Confronted by a widening arc of maritime risk, Saudi Aramco is quietly offering Gulf crude to Asian buyers from loading points beyond the Strait of Hormuz
KPC sticks with capacity targets despite regional volatility
KPC has recorded a resilient operational performance for the 2025-2026 financial year, maintaining steady production and refining throughput despite severe regional geopolitical disruptions
Iran resumes oil loading at Kharg Island after weeks-long pause
Oil loading at Iran’s Kharg Island, the country’s largest crude export terminal, has recommenced after a hiatus of more than two weeks, according to tracking companies, amid a renewed US naval blockade of Iranian ports and vessels.
Iran targets 550,000 bpd at Azadegan with $10bn development plan
Iran is planning to more than double crude oil production at the giant Azadegan field near the Iraqi border under an integrated development plan.
Iran to end internet filtering, first vice president says
Iran's president has decided to close the file on internet filtering, First Vice President Mohammadreza Aref says, though legal and security bodies that hold authority over the controls mean the process will take time.
Analysts predict mid-to-high $80s per barrel oil prices for this year
Oil price forecasts for 2026 are converging around the mid-to-high $80s per barrel after months of extreme revisions triggered by the Middle East conflict.
Iranian giant aims for 12 bcm surge in gas output
Iran’s second-largest natural gas producer plans to boost its gas extraction by about 12bn cubic metres (bcm) in the current Persian calendar year (March 21- March 20, 2027), its production manager said.
Algerian energy major Sonatrach begins jet fuel deliveries to Niger
Algerian state energy firm Sonatrach has dispatched its initial shipment of Jet A-1 aviation fuel to Niger, sourced from the Adrar refinery in southwestern Algeria
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