Middle East
News
April 13, 2026
OPEC oil output fell by nearly 8 million bpd in March, the largest drop on record, as the Iran war and Strait of Hormuz disruption curtailed exports from key Gulf producers.
News
April 13, 2026
ABL and Petroleum Marine Services (PMS) have signed an MoU to provide offshore rig moving, marine assurance and risk services in Egypt, supporting drilling operations in the Red Sea and Gulf of Suez.
News
April 12, 2026
The U.S. Department of Energy has loaned 8.5 million barrels of crude from the Strategic Petroleum Reserve in a second release aimed at stabilizing oil markets amid supply disruptions tied to the Iran war.
News
April 12, 2026
President Trump said the U.S. will move to blockade the Strait of Hormuz after failed Iran talks, raising major risks to global oil and LNG flows through the critical energy chokepoint.
News
April 10, 2026
Saudi Arabia said attacks on key oil and gas infrastructure, including the East-West pipeline, disrupted production and exports, cutting output capacity by more than 600,000 bpd and tightening global supply.
News
April 10, 2026
A processing unit at the Aramco-TotalEnergies SATORP refinery has been shut down following damage linked to the Middle East conflict. While no injuries were reported, the extent of the outage and its potential impact remains under review.
News
April 09, 2026
Oil flows through the Strait of Hormuz are expected to recover slowly following the U.S.-Iran ceasefire, with millions of barrels stranded in the Gulf and shipping, insurance and geopolitical risks continuing to limit transit.
News
April 09, 2026
Egypt has agreed to purchase the full output of Cyprus’ Aphrodite gas field under a long-term deal, securing future supply as domestic production declines and demand continues to rise.
News
April 08, 2026
Oil and gas prices dropped sharply after a U.S.-Iran ceasefire deal, but the market remains on edge as Strait of Hormuz flows are still largely restricted. With more than 800 vessels stranded and supply disruptions lingering, the pace of recovery remains highly uncertain.
News
April 08, 2026
A U.S.-Iran ceasefire agreement is set to reopen the Strait of Hormuz, easing supply concerns and triggering sharp declines in oil and natural gas prices, though uncertainty remains over safe transit and the truce’s durability.
News
April 08, 2026
ExxonMobil reported a 6% drop in global production in the first quarter as Middle East conflict disrupted Gulf operations, including damage to LNG facilities in Qatar.
News
January 13, 2026
ELITE Oil & Gas has acquired EUTEX’s hazardous-area training business, expanding CompEx and IECEx-certified training services across Asia and the Middle East.
News
April 07, 2026
U.S. strikes near Iran’s Kharg Island, coupled with President Trump’s threat of wider attacks, are raising fresh concerns over global oil supply as tensions around the Strait of Hormuz persist.
News
April 07, 2026
Eni has discovered an estimated 2 Tcf of gas offshore Egypt, with the Denise W-1 well located near existing infrastructure—positioning the project for fast-track development and reinforcing Eastern Mediterranean supply potential.
News
April 06, 2026
Qatar LNG tankers have diverted routes as transit through the Strait of Hormuz remains constrained, highlighting ongoing disruption to global energy flows.
News
April 06, 2026
Masirah Oil plans to begin drilling three development wells at the offshore Yumna field in Oman’s Block 50, advancing production activity in the area.
News
March 31, 2026
Tensions in the Strait of Hormuz escalated after a tanker was struck and President Trump urged allies to secure the waterway, heightening risks to global oil and LNG flows as shipping disruptions threaten supply and energy markets.
News
March 30, 2026
WTI crude settled above $100 per barrel for the first time since 2022, as the Iran conflict and disruptions in the Strait of Hormuz tighten global oil supply, raising concerns over inflation, shipping constraints and further upside risk for energy prices.
News
March 30, 2026
The G-7 signaled it is prepared to take coordinated action to stabilize global oil and gas markets as the Iran conflict drives volatility, with officials reaffirming support for strategic reserves, secure supply flows and measures to limit disruptions to energy trade and pricing.
News
March 30, 2026
President Trump threatened to target Iran’s oil infrastructure, power plants and Kharg Island export hub if a deal to reopen the Strait of Hormuz is not reached, raising the risk of further escalation as disrupted shipping continues to tighten global oil markets.
News
March 27, 2026
As the Middle East conflict continues to disrupt global oil and LNG flows, panelists at CERAWeek by S&P Global pushed back on two questions gaining traction in energy circles: why doesn’t the U.S. simply intervene with force to reopen the Strait of Hormuz, or seize Iran’s Kharg Island export hub?
