Author: Rigs & Barge World
Libya’s National Oil Corporation (NOC) has resumed production at the El Feel and Wafa oilfields after operations were temporarily halted following disruptions at the Mellitah Oil & Gas Complex, according to Reuters. The company also confirmed that work has restarted at the offshore Sabratha platform. The Mellitah complex is jointly operated by NOC and Italy’s Eni. It manages production from the El Feel oil field, which produces between 80,000 and 90,000 barrels per day (bbl/d) under normal operating conditions. The temporary interruption also affected gas and fuel supplies used by power generation facilities, leading to the shutdown of several electricity…
Exports from Saudi Arabia’s Red Sea oil export terminals via the Bab al-Mandeb are being disrupted following the Houthi’s 20 July announcement of a blockade on the kingdom (MEES, 24 July). Some tankers have continued to use the route, while others have opted to avoid the chokepoint between Yemen and Eritrea/Djibouti, diverting north towards Egypt’s Suez Canal. More such diversions can be expected after the Houthis claimed attacks on two Saudi tankers on 22 July (MEES, 24 July). The Bab al-Mandeb offers the quickest route from Saudi Arabia’s Red Sea coast to its primary markets in Asia. Since Red Sea…
The deal has been awarded by China Petroleum Engineering & Construction Corporation in its capacity as the main EPC contractor on the project to build off-plot facilities at Abu Dhabi’s Southeast cluster of oil fields Subscribe to read the full article Become a MEED subscriber for unlimited access to: Exclusive news, comment and analysis on the MENA region An unrivalled 20-year old archive Exclusive announcements on project news, bids, awards and updates The latest Industry data and competitor insights SUBSCRIBE To MEED REGISTER to unlock sample content Source link
The contract covers the consultancy services for package seven of Smaisma North in Qatar Subscribe to read the full article Become a MEED subscriber for unlimited access to: Exclusive news, comment and analysis on the MENA region An unrivalled 20-year old archive Exclusive announcements on project news, bids, awards and updates The latest Industry data and competitor insights SUBSCRIBE To MEED REGISTER to unlock sample content Source link
Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), received Polly Ioannou, Ambassador of the Republic of Cyprus to Egypt, to discuss strengthening the strategic partnership between the two countries in the natural gas and mining sectors. Badawi reviewed the reforms and modernization of Egypt’s mining investment environment, which he said enhance the sector’s competitiveness, attracting more international investment. The meeting highlighted the joint efforts that resulted in Cypriot mining company FMC Cyprus Ltd. resuming operations in Egypt in gold and mineral exploration in the Eastern Desert. Ioannou said cooperation with Egypt transformed Cyprus’s gas discoveries into operational projects. She…
Baker Hughes reported revenue of $6.74 billion for the second quarter (Q2) of 2026, down 2% year-on-year (YoY) from $6.91 billion despite a 2% sequential increase. The energy technology company also posted net income of $681 million, down 3% compared to the same period last year and 27% lower than the previous quarter. The decline was mainly due to the sale of its Precision Sensors & Instrumentation (PSI) and Surface Pressure Control (SPC) businesses, which no longer contribute to the company’s revenue. Meanwhile, adjusted net income rose 3% YoY to $640 million, while adjusted EBITDA increased 2% to $1.23 billion.…
Iranian attacks damaged two Kuwaiti power and water desalination plants over the weekend, placing huge strain on the emirate’s already fragile power sector. The attacks came as Kuwait grappled with temperatures in excess of 45°C and any blackouts or water shortages could have had a devastating impact. Power outages have so far been kept to a minimum. All told, there were three attacks on two plants over 17-18 July, forcing the Ministry of Water, Electricity and Renewable Energy (MEWRE) to disconnect generating units to conduct repairs and ensure grid stability. The ministry also called on residents to reduce electricity consumption…
British Petroleum (bp) is having late-stage talks to sell its Lightsource solar energy unit to a consortium backed by Kuwait’s sovereign wealth fund, as bp is focusing on oil and gas to boost returns, Reuters reported, citing the Financial Times. Green energy-focused private equity firm Qualitas Energy has joined forces with Wren House, the infrastructure investment arm of Kuwait’s sovereign wealth fund, the Kuwait Investment Authority, to submit a joint bid, according to people familiar with the matter. bp has intensified efforts to streamline its operations and pivot back toward core oil and gas activities, aiming to cut debt, strengthen…
A consortium led by Blackstone, Brookfield and KKR will acquire a 49% stake in Kuwait Oil Company’s 320km pipeline network – making it the country’s largest-ever energy infrastructure partnership and foreign direct investment Register for MEED’s 14-day trial access Kuwait Oil Company (KOC) has signed a $16bn infrastructure agreement with a consortium comprising Blackstone, Brookfield and KKR to establish a joint venture covering the country’s domestic and export crude oil pipeline network. Structured as a 20.5-year lease-and-leaseback transaction, the deal covers all 13 of KOC’s crude oil pipelines, spanning about 320 kilometres. Known as Project Peregrine, the transaction is…
Strong funding, capital and policy support help regional lenders withstand geopolitical and economic shocks Source link