Author: Rigs & Barge World
Six months after the landmark Leviathan export deal to Egypt was approved, there are concerns that state utility IEC might struggle to secur… Source link
The Syrian Petroleum Company (SPC) plans to build a new heavy crude oil pipeline system linking oil fields in the northeast to the country’s Banias oil terminal on the Mediterranean. The company issued an Engineering, Procurement, Construction, Commissioning and Financing (EPCCF) tender on 18 June, with bids closing on 20 July. The new pipeline is expected to cost $2.7bn and have capacity to carry 400,000 b/d. It is to be built in two 200,000 b/d phases, with the option to extend capacity to 600,000 b/d in a third stage. The winning contractor will operate the system for 15 years and…
Cypriot mining company Fawakheir Mines Complex (FMC), formerly known as SMW Gold Limited, plans to invest nearly $20 million over the next two to three years as it resumes operations in Egypt, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). This came through a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and FMC Executive Chairman Philipp Hiendl to discuss the company’s plans to resume gold and mineral exploration activities in the Eastern Desert. Hiendl said FMC is studying new opportunities in Egypt’s recently launched open mining areas, reflecting the company’s confidence in…
Syrian Petroleum Company (SPC) issued a tender on 14 June for a new 210,000 b/d refinery at Furqlus, near Homs. Future expansion plans include integrating a petrochemicals plant. The project was first announced last year (MEES, 19 December), and the refinery will operate on a mix of Syrian Light (37.7° API), Syrian Heavy (24.1° API), condensate and imported crude, with at least 85% of its output being Euro-V compliant clean products, along with 150,000 t/y of base oils. (CONTINUED – 175 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the…
In line with the Ministry of Petroleum and Mineral Resources (MoPMR)’s strategy to promote environmental sustainability and corporate social responsibility (CSR), Belayim Petroleum Company (Petrobel) has launched the “Zero Waste” project at its Abu Rudeis camp in South Sinai. The initiative stands as a pioneering model that integrates environmental protection with socio-economic development, supporting Egypt Vision 2030 and the United Nations (UN) Sustainable Development Goals (SDGs), noted a video by the MoPMR. The project was implemented through a collaborative effort between Petrobel, the Desert Research Center, and Hemaya Association. It features an integrated system for recycling organic and non-hazardous solid…
Egypt’s total crude oil production has exceeded 540,000 barrels per day (bbl/d), marking a return to growth after a period of decline, Karim Badawi, Minister of Petroleum and Mineral Resources, said during a meeting with the leadership of the Egyptian General Petroleum Corporation (EGPC). Badawi praised the efforts of EGPC and its affiliated companies for the increase, emphasizing their role in increasing production and ensuring secure fuel supplies through coordinated efforts across the petroleum value chain, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The Minister reaffirmed that safety remains the petroleum sector’s top priority, stressing…
Abu Dhabi National Oil Company (ADNOC) has sold more than 30 million barrels (mmbbl) of spot crude oil to Asian refiners and trading firms this month, according to market sources, as buyers moved to secure supplies following the announcement of a US-Iran ceasefire agreement, Reuters reported. The sales covered Das, Upper Zakum, and Umm Lulu crude grades for June-August loading, with cargoes reportedly marketed at flat prices or slight premiums to the Dubai benchmark. The volumes were purchased by refiners and traders across India, China, Japan, and South Korea. Indian refiners Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited…
Exxon Mobil has entered into a preliminary agreement to supply liquefied natural gas (LNG) to South Africa’s Zululand Energy Terminal (ZET), which is set to become the country’s first LNG import facility once constructed, Reuters reported. The planned terminal forms part of South Africa’s broader shift away from coal‑fired power generation, which still provides the majority of the country’s electricity supply. ZET was aiming to finalize an LNG supply agreement with Exxon Mobil within the coming months, Reuters reported in March. Exxon Mobil’s participation underscores the strategic importance of Richards Bay port—where ZET is being developed on South Africa’s east…
During a G7 summit press conference in Évian-les-Bains, France, President Trump disclosed that a combination of rapidly depleting Strategic Petroleum Reserves (SPR) and the imminent threat of a global depression forced his hand in signing a Memorandum of Understanding (MoU) with Iran.The US SPR has been plummeting since the start of the conflict. In response to a journalist’s question, President Trump admitted that the US would run out of reserves in about four weeks. He noted that French President Emmanuel Macron had frequently raised this issue, emphasizing the risk of a global economic collapse rivaling the Great Depression of the…
US companies are expanding their role in Syria as Washington throws its weight behind the country’s new administration. The US-Syria Business Council convened a high-level US-Syria Energy Roundtable in Washington on 10 June, and Syrian executives were prominent speakers at this week’s Atlantic Council Energy Forum. The Syrian Petroleum Company (SPC) is now preparing to sign a contract on 17 June with US independent ConocoPhillips and its partner Novaterra Energy to unlock more gas supplies from existing onshore fields. (CONTINUED – 1440 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into…