Curated analysis of major regional and global developments in energy markets.
QatarEnergy is preparing to start its first 8 mmtpa North Field East LNG train within weeks, with exports expected early next year, as Qatar works to offset capacity lost in March missile attacks.
Kuwait is preparing a new contract model to attract IOCs for its major offshore discoveries, seeking capital and technical expertise to unlock resources and support its 2035 production target.
Chevron commits US$88 million to Egypt’s frontier Lotus block, reinforcing its deepwater ambitions as Cairo seeks to boost domestic gas production and reduce reliance on energy imports.
The Northern Sea Route recorded a record 133 voyages in September as Middle East conflict pushed ships north, highlighting the growing strategic role of Arctic routes in global trade.
Saudi Arabia is exploring a new crude export route to Oman’s Duqm, potentially giving Aramco a second major bypass of Hormuz and the Red Sea while reducing exposure to regional chokepoints.
Middle East crude exports have returned to pre-war levels, but a surge in tanker traffic through Hormuz is coinciding with renewed attacks, highlighting the region’s persistent supply-chain risks.
Houthi attacks on Saudi energy infrastructure are intensifying as fighting in Yemen escalates, raising renewed risks for Aramco assets and Red Sea energy flows.
Syria has inaugurated a 186 km section of the Arab Gas Pipeline, completing the 566 km route towards Türkiye and strengthening gas transport capacity, network flexibility and regional connectivity.
ADNOC is advancing a US$55 billion project programme for 2026–28, targeting higher oil capacity, expanding gas processing and LNG exports, and building new routes to bypass the Strait of Hormuz.
TPAO is drilling the Curad-1 well offshore Somalia to test a new deepwater hydrocarbon play. The campaign could provide a key indication of the country’s offshore petroleum potential.
Arabian Drilling wins a four-year, $533 million KJO contract for four offshore jack-up rigs, doubling its rig fleet serving the Saudi-Kuwaiti Partitioned Zone.
Oman has awarded OQEP three exploration blocks covering more than 30,000 sq km, with a minimum $56 million work programme targeting new oil and gas resources.
Qatar has increased LNG tanker traffic through the Strait of Hormuz, signalling a cautious return of exports as the global gas market faces tight supply ahead of winter.
Libya has resumed crude flows from the Sharara field after an armed group closed a key pipeline valve, disrupting production and highlighting persistent security risks to the country’s oil sector.
Saudi Arabia’s shift of crude exports through Hormuz is tightening tanker availability, pushing VLCC rates higher and creating congestion around ship-to-ship transfers off Oman.
SLB has secured four Aramco contracts covering more than 450 wells over three years, expanding integrated well construction across Saudi Arabia’s oil and gas reservoirs.
Aramco is considering a standalone gas division as it expands Jafurah and explores international LNG, while potentially using listings and asset-backed deals to unlock capital.
Iraq is expanding northern export options as southern oil production exceeds 3 million b/d, seeking greater flexibility after disruptions to crude shipments through the Strait of Hormuz.
QatarEnergy expects three years to repair two LNG trains damaged at Ras Laffan, while remaining committed to Hormuz exports and rejecting alternative pipelines as economically unviable.
Iraq is preparing its next upstream licensing push, seeking international investment to unlock frontier resources, raise production and support new export routes beyond the Strait of Hormuz.
XRG is reportedly considering a stake in LNG Canada, expanding its global LNG portfolio and gaining exposure to Canadian supply as Middle East disruptions reshape global gas markets.
Saudi Arabia has restarted its East-West pipeline after a drone attack, restoring a key alternative export route as disruptions to Strait of Hormuz shipping continue.
KOC has approved 24 local and international contractors for onshore drilling and shallow-well maintenance, strengthening its pool of qualified service providers for upcoming projects.
PDO awards Weatherford a three-year integrated drilling contract covering 274 wells in Marmul and Greater Saqar, targeting production growth and 20% cost savings.
KAR Group is partnering with Oman’s Petrogas to develop Iraq’s Ajeel field under a 25-year contract, targeting higher oil and gas output with around $2.5bn of planned investment.
Lebanon is seeking to revive offshore exploration with renewed French support, building on the Block 8 agreement with TotalEnergies, Eni and QatarEnergy.
Qatar’s LNG exports face prolonged disruption: damaged liquefaction capacity, shipping risks and high insurance costs mean reopening Hormuz alone will not restore supply to normal.
KEPPT will develop Ajeel under a 25-year contract, targeting higher oil output and more than doubling gas production to 300 mmscfd, supporting Iraq’s domestic energy supply.
Oman urges Middle East producers to diversify energy export routes as Hormuz disruption highlights the vulnerability of relying on a single chokepoint for global oil and gas flows.
Saudi Arabia has shut down its East-West pipeline after drone strikes hit pumping stations near Riyadh and Madinah, the second attack on the route this year, as Brent nears US$107/bbl.
Iraq plans to expand pipeline export capacity through Syria and Türkiye’s Ceyhan port to more than 1mn b/d, supporting longer-term efforts to diversify beyond Hormuz.
Saudi Arabia’s crude output fell to 6.2mn b/d in August, while exports dropped to 3.1mn b/d as Houthi attacks increasingly threaten Yanbu and Red Sea export routes.
EIA expects Middle East oil production and exports to remain below pre-conflict levels until 2Q27, with regional shut-ins averaging 6.7 million b/d in August and 5.7 million b/d in 4Q26.
KPC is discussing access to Saudi Arabia’s East-West pipeline, following plans to expand its capacity by up to 2 million b/d, and potential access to the UAE’s pipeline network to Fujairah.
Türkiye will soon drill a technically challenging oil-targeted well in the western Black Sea, part of a six-well 2026 exploration programme.
US reportedly destroys five Iranian crude oil carriers after Iran’s IRGC targeted US naval vessels with ballistic missiles.
HEISCO has received a $359 million Letter of Award from Kuwait Oil Company for work on the Jurassic Light Oil Export Facilities and existing export network upgrade project.
Iraq’s oil export capacity has recovered to more than 3 million b/d and the government is now targeting export capacity of 5 million b/d.
Saudi Arabia's Delta Energy Group signs a $200 million oil and gas exploration deal with Afghanistan's Taliban government, along with plans for a 700km regional gas pipeline.
Brent crude approaches $98 a barrel, its highest level since late July, as markets increasingly price the duration of the Hormuz disruption rather than the risk of an isolated incident.
OPEC+ holds its current production policy for October amid the renewed Hormuz disruption, with logistics and infrastructure now the binding constraint rather than group willingness to add barrels.
Saudi Aramco's roughly 400,000 b/d Jazan refinery is reportedly hit again, with shipments from the site said to have been halted since August as damage is assessed.
Iraq is boosting oil exports following talks with Iran, even as customs-clearance delays continue to affect oilfield development, with evacuation capacity remaining a key watchpoint.
Iran says it intends to establish a new restricted zone and revised shipping corridors in the Persian Gulf, and warns US energy facilities in the region could become targets.
The UAE says its energy exports will not be held hostage by the conflict, as Abu Dhabi accelerates port, pipeline and rail capacity along its eastern coast to bypass Hormuz.
Tanker transits through the Strait of Hormuz have fallen to their lowest level since May, averaging around 10 vessels a day over the past 10 days, after renewed US and Iranian strikes on shipping.
The UAE's energy minister highlights the role of GCC electricity interconnections in strengthening regional resilience, floating expansion beyond the Gulf.
Reports highlight the uneven economic impact of the conflict across GCC economies, with Oman benefiting while Qatar has struggled to adapt.
Técnicas Reunidas confirms it has secured two major upstream EPC contracts in the Middle East for a national oil company client.
L&T Energy Hydrocarbon Onshore signs an ultra-mega EPC contract for new sour-gas compression facilities in the Middle East.
Iraq sets a fresh production target for the Akkas gas field, with the first 100 mmscfd increment expected to be reached by mid-2027.
Analysis quantifies the war's earnings impact on international oil companies, with ExxonMobil's H1 upstream earnings down $1.3 billion on lower Gulf volumes.
The Oil & Gas Middle East Awards 2026 shortlist is announced, with winners due to be revealed at a ceremony in Riyadh in September.
US officials confirm the Navy has cleared more than 100 suspected mines from the Strait of Hormuz traffic separation scheme, a milestone in restoring shipping confidence.
L&T Energy Hydrocarbon Offshore secures a $1.57 billion ultra-mega EPCIC contract for a major undisclosed Middle East offshore development.
The IEA's latest Oil Market Report addresses renewed hostilities in the Gulf and their effect on the near-term supply outlook.
Egypt opens its 2026 international licensing round, offering 14 blocks across EGAS and EGPC acreage to attract renewed upstream investment.
ADNOC Gas takes FID and awards $8.2 billion in EPC contracts for Phases 2 and 3 of its RGD project, the company's largest-ever capital investment.
Aramco advances an overseas crude storage build-out to expand capacity at Yanbu and Petroline, reducing its reliance on Hormuz-dependent shipping.
Abu Dhabi launches an AED 55 billion PPP project pipeline across strategic sectors, including energy infrastructure, as part of its post-war investment push.
Fifty-nine companies express interest in the Quality Valley Riyadh project, an industrial and logistics development tied to the Kingdom's diversification push.
Commerzbank confirms Saudi Arabia's May crude exports at approximately 6.2 million b/d, up 1.2% year-on-year on higher OPEC+-driven output.
The IEA's Executive Director issues a fresh statement on oil market impacts, addressing the renewed disruption following the collapse of the interim truce.
Worley is awarded a contract by Samsung C&T to deliver detailed engineering for QatarEnergy's LNG carbon dioxide sequestration project.
Técnicas Reunidas flags roughly $4 billion in potential near-term Middle East EPC awards, setting up contract wins that would follow later in the year.
The US reinstates its naval blockade of Iran following the collapse of the interim truce, striking Iranian air defense and coastal military assets.
The interim US-Iran truce collapses after Iran strikes multiple commercial ships in the Strait of Hormuz, ending the 60-day safe-passage window early.
OPEC+ announces a fifth consecutive monthly output increase, raising production by 188,000 barrels per day from August.
Saudi Arabia's crude exports fall to a 21-month low of 6.8 million b/d in June, even as production held broadly steady month-on-month.
The US Navy opens a widened shipping route through the Strait of Hormuz near Oman, allowing increased naval traffic in both directions.
Brent crude falls to $72 a barrel, its lowest level of the quarter, as the US-Iran MOU and easing shipping restrictions weigh on prices.
The IMO and Oman organize an evacuation of long-stranded mariners via Omani waters, offering relief after months of crew welfare concerns.
Mellitah Oil and Gas, a joint venture between Libya's NOC and Eni, selects Hill International to support project management on its facilities.
Aramco and Sempra announce a strategic energy-infrastructure collaboration, deepening ties between the Saudi major and the North American energy group.
Wood is awarded a five-year long-term agreement by Saudi Aramco, extending the UK engineering firm's presence in the Kingdom's energy sector.
The US and Iran sign a memorandum of understanding committing to end military operations, with Iran pledging 60 days of free safe passage through the Strait.
OPEC+ data shows quota-participating output rising to 24,866 kbpd in May, the first full monthly picture reflecting the UAE's formal exit.
ADNOC Gas signs a $5 billion gas supply agreement for the TA'ZIZ methanol project in Abu Dhabi, backing one of the emirate's flagship petrochemical schemes.
Sinopec signs a $1.1 billion contract to build the third phase of Saudi Arabia's Master Gas System, spanning nearly 4,000 km of pipeline.
Oman's continued upstream licensing activity is cited as evidence of the sultanate's comparative resilience amid the wider regional disruption.
Analysis confirms Qatar's long-term LNG capacity outlook has been cut and the North Field East expansion delayed following wartime damage at Ras Laffan.
Target Engineering secures three EPC contracts worth more than $500 million for Gulf energy projects, its most significant recent wins.
McDermott partners with SLFE on execution planning for a major strategic agreement with Saudi Aramco, deepening the contractor's Kingdom presence.
Saudi Arabia's May trade data shows crude exports near 6.2 million b/d and refined product exports up sharply, reflecting higher OPEC+ output.
The US naval blockade of Iranian ports ends after roughly six weeks, removing one of the most direct constraints on Iranian export volumes.
ADNOC adjusts its Fujairah export corridor to sustain non-Hormuz-dependent capacity as the company shifts toward post-war normalization planning.
Tenaris confirms an extension to its long-term OCTG supply agreement with ADNOC under Rig Direct conditions, as Abu Dhabi ramps up drilling activity.
US natural gas prices diverge sharply from European and Asian benchmarks as curtailed Qatari and Gulf LNG exports tighten import markets.
Data shows Iran's oil production down roughly 28% from February levels, with further declines expected as the US naval blockade persists.
Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, produces first LNG from its initial export train in Texas.
A tentative de-escalation phase begins as ceasefire terms hold for a second week, with Brent crude starting a sustained daily decline.
QatarEnergy signs an MoU with Egypt and ExxonMobil to study commercializing Cypriot gas discoveries via Egypt's existing LNG infrastructure.
QatarEnergy, TotalEnergies and ConocoPhillips sign an MoU for offshore exploration cooperation in Syria, signaling Doha's push into new upstream markets.
Arcius Energy, a joint venture between BP and ADNOC, takes final investment decision on the Harmattan gas field in Egypt's El Burg concession.
Project Freedom is paused at the request of Pakistan and other regional partners after Iranian strikes on the UAE and Oman.
Washington unveils Project Freedom, a southern-route initiative intended to help mariners navigate the Strait of Hormuz while avoiding Iranian waters.
Seven OPEC+ members agree to raise combined output by 188,000 barrels per day starting in June, continuing a gradual unwinding of prior cuts.
The UAE formally exits OPEC after 59 years of membership, marking a significant shift in the group's Gulf composition.
Brent crude touches $118 a barrel, its highest level of the quarter, as markets weigh persistent supply disruption against fragile diplomacy.
Analysis confirms Gulf producers cut a combined 9.28 million b/d of crude output between February and April as the Hormuz closure limited exports.