In 1957 Saudi Arabia discovered the Ghawar oil field, still the world’s largest. Output and exports were ramping up. It was imperative that executives at the Arabian American Oil Company (Aramco) increased their understanding of the broader regional, global energy and economic context.
They turned to Fuad Itayim, a Beirut-based economist to write a weekly newsletter privately published for the now world’s largest national oil company.
But the Gulf’s role in global oil markets continued to grow and outsiders were scrambling to get the inside track on Gulf energy thinking, they again turned to Fuad Itayim. Fuad quickly put together a team and so, began the Middle East Economic Survey. The first issue of MEES was published in September 1957.
MEES has been publishing industry-leading weekly analysis of the region’s oil and gas developments for over 6 decades. Home to the world’s largest and lowest cost oil and gas reserves, the Middle East and North Africa area is a region of heady possibilities, but one fraught with pitfalls.
From such humble beginnings MEES rapidly expanded its influence throughout and beyond the Mena region. In 1960, MEES was in fact the only foreign press agency at the very first OPEC meeting in Baghdad – and has been in Vienna for every meeting ever since keeping our clientele up to date with the latest insider track.
Our process allies innovative techniques from assessing real-time trade flows to satellite imagery analysis, with more than 60 years of experience to ensure that we remain the benchmark for our clients. Our editorial staff and analyst team are frequently in the field securing vital data points from remote oil and gas operations. And as a data-driven publication, MEES remains an objective firm that gives peace of mind to key industry leaders who are also willing to discuss important issues.
Of course MEES still has the inside track on the oil and gas sector in the Middle East and North Africa. We have never stopped in our quest for fair but incisive analysis.
But MEES has also moved with the times. Once getting the inside track on Opec thinking gave MEES the edge. But as news has become increasingly commoditized MEES has continually climbed the value chain. Nowadays MEES is just as well known for its incisive data-driven analysis.
MEES still publishes its flagship weekly publication– uninterrupted for 62 year. And we have now also added interactive and downloadable underlying data at your fingertips.
It’s not only the fact that MEES is a data-driven analytical publication that marks it a different beast to nearly every other trade publication. MEES’ focus on the Middle East makes it the one of the only resources to give a complete state-of-play and forward outlook for a region vital to energy security.
The ‘oil age’ isn’t quite over yet. As home of by far the world’s largest repository of low-cost barrels, the looming energy transition has if anything strengthened the Gulf’s comparative advantage as an investment destination over other oil provinces.
As a long-term data-driven publication, MEES only breaks stories worthy of announcing immediately that have the velocity to move markets. It has done so when Ali Naimi spoke exclusively to MEES following the oil crash of 2014. It has moved stock markets when announcing that Qatar would purchase a sizeable stake in Shell. And we continue to offer such insight to this very day.
It’s not by chance that MEES has sat down and spoken to the overwhelming majority of Middle East and North Africa Oil Ministers since our very beginning. A reality that continues to this very day over 60 years onwards.
The US statistical arm, the Energy Information Agency (EIA) has sourced MEES in every single report on the countries we cover. In fact, our analysis is used the overwhelming majority of the time.