Iran now has the largest volume of crude ever stored at sea, as sanctions, shipping bottlenecks and weaker Chinese buying reshape global oil flows.
Saudi Aramco has lowered its February official selling price for Arab Light crude to Asia for a third consecutive month, signaling continued pressure on regional demand.
Egypt and Lebanon have signed an MoU to supply natural gas to Lebanon’s Deir Ammar power plant, leveraging Egyptian LNG infrastructure and regional pipeline routes to boost electricity generation.
Saudi Aramco has awarded SLB a five-year contract covering stimulation, well intervention, frac automation, and digital solutions to support the Kingdom’s large-scale unconventional gas development program.
Iraq said natural gas supplies from Iran have been fully halted, resulting in the loss of up to 4,500 MW of power generation and highlighting Baghdad’s reliance on cross-border gas imports amid ongoing U.S. sanctions pressure.
Iraq says international oil companies operating in Kurdistan remain obligated to deliver crude to SOMO under a September export deal, raising fresh questions about control of pipeline flows and export authority.
The move underscores Washington’s renewed leverage in Iraq’s energy sector and shifting regional power dynamics.
Eni has signed a 10-year LNG supply deal with Türkiye’s BOTAŞ, its first long-term agreement with the country. Starting in 2028, Eni will deliver 0.4 MMtpy of LNG annually as it targets 20 MMtpy in global capacity by 2030.
PETROJET won a $273 million EPC contract from OQ Gas Networks to build a 193-km (120-mile) natural gas pipeline in Oman, part of the Fahud–Suhar Loop Line expansion to boost regional supply reliability.
ADNOC Gas has signed a $4 billion, 20-year natural gas supply agreement with EMSTEEL, securing stable lower-carbon gas for the UAE’s growing industrial sector. The long-term contract bolsters ADNOC Gas’ revenue base and underscores its role in supporting national manufacturing and energy-transition goals.
CRC Evans has secured a major contract for Saudi Arabia’s Master Gas III Pipeline Phase 3, delivering welding and construction on a 56-inch, 150-km pipeline. The award strengthens the company’s growing presence in the Middle East and highlights its advanced welding technologies and long-term role in the region’s gas infrastructure buildout.
The IEA says the next LNG wave is reshaping global gas markets, easing tight pipeline supply and helping Europe balance declines from Russia and Norway. Demand remains weak in Asia, but is expected to rebound by 2026.
Aramco has selected Baker Hughes’ Cordant APM suite for deployment across four Saudi gas compression stations as part of the Master Gas System expansion. The digital tools aim to improve reliability, reduce downtime and support the Kingdom’s push toward lower-emission gas operations.
Saudi Aramco is preparing to sign new U.S. LNG agreements with Woodside Energy and Commonwealth LNG, securing up to 4 MMtpy of supply from two major Louisiana export projects as it expands its global gas portfolio.
Kurdistan’s crude exports through the Iraq–Turkey pipeline continue to ramp up as international oil companies load their first cargoes at Turkey’s Ceyhan terminal, with Iraq planning 250,000 bpd in November shipments.
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