Middle East
News
March 02, 2026
Qatar suspended production at its Ras Laffan LNG plant after a drone attack, disrupting roughly 20% of global LNG supply and tightening gas markets worldwide.
News
March 02, 2026
Saudi Aramco halted operations at its 550,000-bpd Ras Tanura refinery after a drone strike, though crude exports from nearby terminals remain operational.
News
March 02, 2026
Israel temporarily shut natural gas production at key offshore fields, including Karish, amid escalating conflict with Iran, raising concerns over regional gas exports.
News
March 02, 2026
Oil prices surged nearly 9% as traffic through the Strait of Hormuz slowed dramatically amid escalating Middle East conflict, raising supply disruption fears.
News
March 01, 2026
Update: Oil prices jumped after U.S.–Israeli strikes on Iran — but gains have been more muted than feared. World Oil’s latest analysis examines why crude hasn’t spiked further, the role of OPEC+ output increases, and the evolving risk to Strait of Hormuz flows.
News
March 01, 2026
Two oil tankers were attacked near the Strait of Hormuz as Iran-related tensions escalate, raising concerns over potential disruption to a chokepoint that carries roughly 20% of global seaborne crude and LNG flows.
News
March 01, 2026
OPEC+ will add 206,000 bpd of oil production in April as Middle East tensions escalate following strikes on Iran, raising concerns over potential disruptions to Strait of Hormuz crude flows.
News
February 26, 2026
Aramco has started unconventional gas production at the Jafurah shale field and launched the Tanajib Gas Plant, advancing its plan to expand Saudi gas production capacity by approximately 80% by 2030.
News
February 23, 2026
Iraq approves agreement transferring West Qurna 2 field operations from Lukoil to Basra Oil Company, reshaping control of a 460,000-bpd upstream asset with 14 Bbbl in reserves.
Article
February
Saudi Aramco’s suspension of dozens of jackups continues to reshape the Middle East offshore drilling landscape. This analysis examines how redeployments, cold stacking and shifting investment plans are tightening utilization, pressuring dayrates and redefining global jackup fleet strategy heading into 2026.
News
February 16, 2026
ABL has been awarded a marine warranty survey contract to support offshore construction and installation work for the Phase 4 development of Egypt’s Kamose gas field in the Mediterranean.
News
February 12, 2026
EnerMech has secured a two-year contract extension to provide offshore rig crane inspection and lifting services for a Middle East operator, supporting safe and reliable offshore drilling operations.
News
February 11, 2026
MOL Group has entered Libya’s upstream sector through a joint venture with Repsol and TPAO to explore the deepwater O7 offshore block in the Mediterranean, marking its latest international expansion and strengthening North Africa exploration activity.
News
February 09, 2026
ADNOC Gas reported record 2025 net income of $5.2-billion as domestic gas demand and infrastructure expansion support long-term growth. The company is advancing major UAE gas processing and pipeline projects, with new development FIDs expected in 2026.
News
February 05, 2026
Kuwait Oil Company and bp have extended their Enhanced Technical Services Agreement through 2029, advancing enhanced oil recovery work and field development support at the giant Greater Burgan field and other key Kuwait assets.
News
February 03, 2026
TotalEnergies and Kuwait Oil Company have signed a memorandum of understanding to strengthen technical cooperation and advance studies related to potential exploration opportunities in Kuwait.
News
February 03, 2026
SLB has been awarded a $1.5 billion, five-year integrated development contract by Kuwait Oil Company for the next phase of the Mutriba field, covering HPHT and sour reservoirs.
News
February 02, 2026
Siemens has opened its first Digital Industries Software office in Saudi Arabia, expanding local support for energy, industrial manufacturing, mobility and infrastructure projects as the Kingdom advances its Vision 2030 digital transformation strategy.
News
January 30, 2026
Saudi Arabia recorded its fastest economic growth since 2022 in 2025, driven by higher crude output under OPEC+ supply increases and stronger oil-sector activity.
News
January 29, 2026
Brent crude climbed above $71 a barrel as U.S. President Donald Trump warned Iran to accept a nuclear deal or face possible military action, reigniting fears of supply disruptions through the Strait of Hormuz and adding a fresh geopolitical risk premium to oil markets.
News
January 29, 2026
SLB has won two five-year contracts from Petroleum Development Oman to supply wellheads and artificial lift systems for Block 6, supporting production and in-country value initiatives.
