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Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
Israel-Iran war imperils Egypt’s energy supply
Egypt’s government was already preparing for potential energy shortages this summer, and the loss of Israeli gas supply has made things worse
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Energean ready to go deep into Africa
Mediterranean-focused gas producer looks to replicate Israel success story and is hunting projects across the continent, with particular interest in West Africa
Israel’s gas performance chafes against narrow export horizons
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
Egypt looks to arrest its upstream decline
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
Hydrocarbon Processing Refining Databook 2025: Middle East & Africa
The Middle East is focusing on modernisation and expansion projects, while Africa is seeking to reduce its imports of refined products
Oil cannot escape Mideast conflict forever
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
IOCs undeterred by Middle East conflict
Companies operating offshore assets in the region are unlikely to halt development plans for now, even as hostilities intensify
The Middle East conflict and the oil price puzzle
An escalation in the conflict could threaten global oil supplies, so why is the market not reacting?
Israel Egypt Eastern Mediterranean
Simon Ferrie
6 February 2023
Follow @PetroleumEcon
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Energean maps out East Med plans

The independent is developing fields off the coasts of Israel and Egypt

UK-listed Energean is in the process of expanding its production in the Eastern Mediterranean. Petroleum Economist spoke to commercial director Nick Witney about the company’s plans and doing business in the region. Energean has a 200,000bl oe/d “medium-term target”. When do you expect to reach that threshold and where is production currently? Witney: In 2022, production averaged 41,000bl/d oe. Now that Karish Main has achieved first gas and has progressed through the majority of its commissioning, our 2023 guidance is 131,000–158,000bl/d oe, while 200,000bl/d oe is expected to be reached in 2024. Karish came onstream in late October, and all three wells opened before year-end, producing 5,3

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