Author: Rigs & Barge World
The European Investment Bank (EIB) is evaluating the financing of a renewable energy project in Egypt, which involves the design, construction, and operation of the Niat and Rasgha wind farms, two adjacent utility-scale onshore wind projects located in the Gulf of Suez. The proposed initiative is spearheaded by Alcazar Energy Partners II SLP (SCSP). With an estimated total project cost of approximately $572 million, the EIB is considering an investment of $152 million to support the development. The venture is currently under appraisal, reflecting the bank’s commitment to Egypt’s “Vision 2030” and its Integrated Sustainable Energy Strategy (ISES) 2035. These…
LNG tankers belonging to Qatar’s Nakilat shipping firm are beginning to return to the Gulf in preparation for the resumption of Qatari LNG exports following the US-Iran MoU. Kpler data shows a number of empty Qatari LNG tankers that have been waiting offshore India and Pakistan have begun moving back to the Gulf, while some that were offshore Oman have recently turned off their AIS transponders, pointing to a potential transit through the Strait of Hormuz. Qatar has been able to keep some LNG operations running at low levels by supplying cargoes to Kuwait (MEES, 10 April), and should be…
Karim Badawi, Minister of Petroleum and Mineral Resources, and Mohamed Farid, Minister of Investment and Foreign Trade, have agreed to establish a joint committee aimed at enhancing financing opportunities for petroleum sector projects, attracting international partnerships, and strengthening cooperation with global financial institutions. The agreement was reached during a meeting between the two ministers, as part of ongoing efforts to promote economic development and implement the state’s strategic vision. The newly formed committee will include representatives from the petroleum sector, the Ministry of Investment and Foreign Trade, the General Authority for Investment and Free Zones (GAFI), and the Egyptian Commercial…
The latest meeting of the Eastern Mediterranean 3+1 framework in Houston on 11 June produced more concrete outcomes than any previous gathering, with the four countries launching a new energy center, agreeing a cooperation roadmap and accepting an Israeli cyber and energy alliance proposal. Seven years after the United States formally joined the Cyprus-Greece-Israel trilateral cooperation mechanism, the four countries formally launched the Eastern Mediterranean Energy Center (EMEC) at Rice University’s Baker Institute. (CONTINUED – 1142 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive…
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…