Middle East
News
April 16, 2026
The White House is pressing U.S. oil producers to increase output as a global supply shock unfolds. But with uncertainty over how long disruptions will last, companies remain cautious on new drilling.
News
April 16, 2026
Oil shipments through the Strait of Hormuz are at a near-standstill as producers and tanker owners clash over who bears transit risk. The standoff is driving freight rates higher and adding pressure to already strained global supply flows.
News
April 16, 2026
ABL Group and PetroSafe have signed an MoU to enhance offshore and onshore asset integrity, safety and marine assurance services across Egypt’s growing energy sector.
News
April 15, 2026
The U.S. has expanded sanctions targeting an Iranian oil shipping network tied to Hossein Shamkhani, aiming to curb crude exports as tensions in the Strait of Hormuz disrupt global supply.
News
April 15, 2026
Saipem has secured $400 million in offshore EPCI contracts from Aramco for water injection platforms, pipelines and subsea infrastructure at the Safaniya oil field in Saudi Arabia.
News
April 15, 2026
The U.S. and Iran are moving toward further negotiations to extend a fragile ceasefire, even as tensions over the Strait of Hormuz continue to disrupt global oil flows and keep markets on edge.
News
April 14, 2026
The IEA, IMF and World Bank warn that the Middle East conflict is causing prolonged disruptions to global oil and gas markets, with supply shortages and elevated prices expected to persist.
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.
