MEES - Weekly Oil & Gas News Analysis

MEES, which stands for Middle East Economic Survey, is a weekly publication dedicated to reporting on energy news, data, and analysis in the Middle East and North Africa region. Each week, we cover a wide range of topics, including Oil & Gas, Transportation and LNG, Refining and Petrochemicals, Power and Water, OPEC, Geopolitical Risks, Corporate Strategies, as well as Economics and Finance. Our aim is to provide comprehensive insights and information relevant to the energy sector.

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Kuwait Power Sector Runs Out Of Capacity

1 week ago | mees.com | Jamie Ingram

The remarkable decline of Kuwait’s power generation sector hit a new and unwanted milestone last month; peak load exceeded available generation capacity. Recently released statistics from the Ministry of Electricity (MEWRE) show that peak load reached a June record of 16.98GW (up 5.5% year-on-year), exceeding available capacity of 16.275GW. Worse still, when demand hit 16.98GW on 22 May, available capacity was lower still at just 15.46GW due to ongoing maintenance work.
Egypt Staves Off Blackouts Amid Resumption Of Israeli Gas Imports

1 week ago | mees.com | Peter Stevenson

The perils of Egypt’s dependence on gas imports were painfully exposed this week, when Israel halted gas exports on the morning of 13 June in anticipation of Iran’s response to its airstrikes (MEES, 13 June). Egypt’s gas balances were already stretched amid delays in installing two new floating storage and regasification units (FSRUs), and Cairo has scrambled to secure additional fuel oil supplies for later this summer in order to build up strategic reserves.
Scatec Accelerates Egypt Wind & Solar Projects

1 week ago | mees.com | Peter Stevenson

Norwegian renewables firm Scatec is progressing both wind and solar projects across Egypt. On 15 June it announced plans to build a 900MW onshore wind project at Ras Shukeir on the Gulf of Suez and also said it has reached financial close of the 1.1GW ‘Obelisk’ solar project in southern Egypt, where it began construction in May (MEES, 9 May).
Iran Conflict Exposes Israel’s Energy Vulnerabilities

1 week ago | mees.com | Peter Stevenson

In a calculated move on the morning of 13 June, Israel took offline the 1.1bn cfd Leviathan field and the 500mn cfd Karish for precautionary reasons, as it launched its first wave of attacks on Iran (MEES, 13 June). This left only the 1.0bn cfd Tamar field operational. MEES understands that Tamar output is now at record levels, with all of its production supplying the domestic market for the first week of the conflict.
Trump To Decide On Potential Iran Strikes ‘Within Two Wee...

1 week ago | mees.com | Jamie Ingram

US President Donald Trump has appeared to back away from plunging the US into the Israel-Iran war.
Oil Markets Welcome Trump Pause On Iran

1 week ago | mees.com | Jamie Ingram

Oil markets have endured a turbulent week since Iran and Israel’s decades-long shadow conflict escalated into open warfare on 13 June. The psychodrama around whether or not President Donald Trump was preparing to bring the US into the conflict added to the volatility through much of the week, but his decision on 19 June to hold off for two weeks lowered the risk of a regional spillover (MEES, 20 June). Oil prices retreated on Mr Trump’s statement.
IEA Forecasts Peak Demand by End of Decade

1 week ago | mees.com | Jamie Ingram

Global oil markets are undergoing a fundamental transformation says the IEA, as it points to demand growth slowing to a trickle from 2028 onwards before entering a slight decline in 2030. The group’s closely watched medium term outlook, Oil 2025, was released this week and on a macro level it has largely stuck to the projections in last year’s report (MEES, 14 June 2024), with demand plateauing at the end of the decade.
Saudi Renewables Surge To Displace Direct Oil Burn

1 week ago | mees.com | Jamie Ingram

Saudi Arabia’s renewable power generation more than doubled to a record 11TWh last year as it brought online 3.7GW of new solar capacity. This left Saudi Arabia just 2.4TWh behind the region’s renewables leader, the UAE, last year and continued capacity growth means that it is set to jump ahead of its neighbor this year.
Israel-Iran Conflict Puts Spotlight On Hormuz Bypass Pipelines

1 week ago | mees.com | Jamie Ingram

The breakout of the Israel-Iran conflict has increased concerns over the security of supply of oil and gas from the Middle East, especially should the US ultimately enter the war. Israel has so far refrained from targeting Iranian oil production and export facilities, and Iran has not sought to pressure Israel’s Western allies through disrupting energy flows from the region.
Israel Sends Warning To Iran With Gas Strike

1 week ago | mees.com | Jamie Ingram

Israel extended its military offensive against Iran to the Islamic Republic’s gas sector on 14 June, striking onshore gas facilities near the industrial hub of Assaluyeh. Israeli drones damaged processing facilities for South Pars Phase 14 on the coast and the nearby Fajr Jam gas plant, around 20km inland. This marked Israel’s first such strike against Iranian oil and gas assets, although for now it has refrained from following it up with additional such strikes.