Middle East – Oil & Gas 360

LNG shutdowns and refinery halts complicate global energy outlook

March 2, 2026

(World Oil) – The turmoil unfolding in the Middle East is sparking the biggest disruption to oil and natural gas markets since Russia’s invasion of Ukraine in 2022. Qatar shut down the world’s largest LNG export facility, Saudi Arabia suspended operations at its biggest oil refinery and tanker traffic through the crucial Strait of Hormuz has all but halted. And it’s only Day 3. U.S. President Donald Trump

Chevron declares force majeure as Israel shuts Leviathan gas field

March 2, 2026

(Oil Price) – Chevron has declared force majeure at Israel’s Leviathan natural gas field after the government ordered a temporary suspension of production on security grounds, marking the second time in less than a year that hostilities with Iran have disrupted Eastern Mediterranean gas flows. Israel’s energy ministry directed operator Chevron to shut in Leviathan following joint U.S.-Israeli strikes on Iran

Israel halts Leviathan, Karish gas fields after Iran strikes

March 2, 2026

(World Oil) – Israel ordered the temporary shutdown of some natural gas fields after launching an attack on Iran in a joint operation with the U.S. The halt is a security measure, the Energy Ministry said in a statement, without specifying the fields affected. Energean Plc, the operator of the Karish deposit, said it had been instructed to suspend production.

Oil prices spike after Middle East conflict stokes supply shock jitters

March 2, 2026

(Investing) – Oil prices rose sharply Monday on concerns of increasing supply disruptions after the U.S. and Israel launched a wave of attacks against Iran. At 11:23 ET (16:23 GMT), Brent oil futures surged 6.8% to $77.80 a barrel, after earlier climbing to its highest level since January 2025, while West Texas Intermediate crude futures rose 5.7% to $70.85 a barrel, just below its highest

Gulf oil producers open the taps as Iran risk premium builds

February 27, 2026

(Oil Price) – As U.S.-Iran tensions climb and talk of a potential strike refuses to fade, the UAE and Saudi Arabia are already behaving as if an oil supply disruption is a matter of when, not if. If they move more crude now, there is a chance there will be calm markets later. Abu Dhabi is set to export additional volumes

From energy to AI: Five big themes behind Carney’s mission to India- oil and gas 360

Saudi Aramco bringing shale gas revolution to Arabian Desert

February 27, 2026

(BOE Report) – The shale revolution that made the United States the world’s top oil producer is taking shape in the Arabian Desert. The shale revolution that made the United States the world’s top oil producer is taking shape in the Arabian Desert. Deep in the sands southeast of Saudi Arabia’s giant Ghawar oilfield, state oil company Aramco is pushing

Aramco starts up Jafurah, eyes 80% gas capacity growth by 2030

February 26, 2026

(World Oil) – Aramco has marked two major milestones in its gas expansion strategy with the start of unconventional production at the Jafurah field and the commissioning of the Tanajib Gas Plant, reinforcing its target to significantly expand Saudi Arabia’s gas production capacity by 2030. The company confirmed that first shale gas production from Jafurah began in December 2025. Located across approximately 17,000 sq

Saudi Arabia boosts oil output, exports for US attack on Iran contingency, sources say

February 25, 2026

(BOE Report) – Saudi Arabia is increasing its oil production and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, two sources familiar with the plan said on Wednesday. The Saudi government media office did not immediately respond to a request for comment on the plan. U.S. President Donald

Kuwait readies $7 billion oil pipeline deal with global investors

February 24, 2026

(Oil Price) – State-held Kuwait Petroleum Corporation (KPC) is considering following in the footsteps of its Saudi and Abu Dhabi peers by tapping major international infrastructure investors to buy a stake in its crude oil pipeline network in a deal that could be valued at about $7 billion, sources with knowledge of the plan told Reuters. The Kuwaiti national oil company has

Oil prices hold near seven-month highs with US-Iran talks in focus

February 24, 2026

(Investing) – NEW YORK – Oil prices were little changed near a seven-month high on Tuesday as traders waited for news from nuclear talks between the U.S. and Iran. Brent futures fell 25 cents, or 0.4%, to $71.24 a barrel at 10:41 a.m. EST (1541 GMT), while U.S. West Texas Intermediate crude fell 25 cents, or 0.4%, to $66.06. Earlier in the

Oil at six-month high with nuclear talks and US tariffs in focus

February 23, 2026

(Investing) – LONDON- Oil prices reached a six-month high on Monday as the U.S. and Iran prepared for a third round of nuclear talks while increased economic uncertainty was also in focus after the latest U.S. tariff upheaval. Brent crude futures were up 62 cents or nearly 0.9% at $72.38 a barrel, a fresh six-month high, by 1432 GMT while U.S.

U.S.-Iran tensions threaten to send oil tanker rates soaring

February 20, 2026

(Oil Price) – The ratcheting up of tensions between the United States and Iran could push an already red-hot supertanker market even higher with rates soaring to the highest level since 2019, analysts say. The daily rate for hiring a supertanker on the key Middle East-to-China route has surged threefold since the beginning of the year, to over $150,000. That’s

Premium Content