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The 5 September Opec+ ministerial conference did nothing to accommodate the wishes of the many world leaders who had courted Gulf decision-makers in the expectation they might relieve pressure on energy-consuming economies.

Iran inaugurated a liquefied petroleum gas (LPG) export terminal in the port of Bandar Abbas, following a two-month project to convert a disused gas storage facility.

The oil price boom has prompted a splurge in deal-making by Gulf funds, mirroring what the region’s sovereign wealth funds did when asset prices fell during the Covid pandemic.

Governments across the Gulf are enjoying another boom in  oil  and gas prices, which is all the more welcome given the fiscal crunch in many economies caused by the Covid pandemic.

Oman drew an audience of international oil companies and others to an event at London’s Mansion House in late July to push green hydrogen (GH2) and other ‘future fuels’ projects.

Dubai-based Blue Cactus joined several Chinese brokerages on the latest list of US sanctions targeting Iranian oil exports. The package of measures focused on the state-owned Persian Gulf Petrochemical Industry Company and adds to pressure on Tehran as negotiations on reviving the nuclear deal appear to reach their final make-or-break phase in Vienna – and gives an indication of Washington’s intentions should those talks fail.

Migrant flows: Gulf Co-operation Council countries are home to almost three-quarters of all migrants and refugees in the Arab region, according to the latest Situation Report on International Migration in the Arab Region.

Oil and gas markets are expected to remain buoyant, whether or not Saudi Arabia makes concessions to the United States and Europe by pumping more crude. Ahead of a crucial early-August meeting of Opec+ ministers, the signs are that the Saudi-Russian axis will hold, but the market is restructuring with China and other Asian buyers taking more from Russia while the Gulf sends more to Europe.

Qatar’s recent deals to bring five majors – Shell, TotalEnergies, ExxonMobil, ConocoPhillips and Eni – into the $29bn North Field East (NFE) project underline Doha’s ambitions for its liquified natural gas (LNG) sector and Emir Sheikh Tamim’s political priorities, as QatarEnergy’s sales are redirected towards Europe.

Western oil majors have been pulling out of the Russian gas industry, but that presents opportunities for the likes of Saudi Aramco who are less concerned about the reputational impact of investing in Siberian resources.

Organisation of Petroleum Exporting Countries (Opec) secretary-general Mohammad Sanusi Barkindo fell victim to a heart attack in his native Nigeria on 5 July, shortly before he was due to leave the post he had held with some skill and grace for six years. Veteran Kuwait Petroleum Corporation and government official Haitham Al-Ghais is scheduled take over as secretary-general in Vienna on 1 August.

GSN Risk Grade: B↑1. Methane emissions. QatarEnergy joined the Aiming for Zero Methane Emissions Initiative on 27 June, adding its weight to the aim of reaching near-zero methane emissions from operated oil and gas assets by 2030. It

Dana Gas has suspended a project to expand output at the Khor Mor gas field, following a series of rocket attacks in Iraq.

Iraq's state-owned Basra Oil Company (BOC) will acquire the biggest share in ExxonMobil's stake in the West Qurna 1 oilfield. Others involved in the field include PetroChina, Japan's Itochu, Indonesia's Pertamina and Iraq's Oil Exploration Company.

Oman's energy and minerals minister Mohammed Bin Hamad Al-Rumhi has retired from the job he held since December 1997, as part of a mini-reshuffle of the cabinet. There also have been some changes to governor positions.