Author: Rigs & Barge World
Alaa El-Din Abdel Fattah, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM) conducted a field visit to review the progress in the construction at the Damietta project of the Suez Methanol Derivatives Company, one of ECHEM’s key petrochemical projects. The Damietta unit is developed to produce value-added derivatives that support downstream industries and reduce Egypt’s reliance on imports. It is designed to produce around 140,000 tons per year (t/y) of value-added petrochemical products, supporting several downstream industries, including fertilizers, furniture, wood panels, medium-density fiberboard (MDF), and ready-mix concrete. The project’s output will serve diverse applications, from acting as an anti‑caking…
Five years after launching the IFAD Murban Futures Contract to great fanfare, Adnoc is switching all crude oil pricing to a Platts Dubai-linked formula. The 31 July announcement effectively killed off IFAD Murban, the rationale for which was price discovery for Adnoc’s flagship crude. The same day, ICE announced that it was winding down the contract. In doing so, Adnoc has dismantled an institution into which it had poured considerable capital – including bringing in BP, TotalEnergies, GS Caltex, Inpex, PetroChina, JXTG, PTT, Shell, and Vitol as founding partners (MEES, 15 November 2019). The Abu Dhabi state energy giant merely…
The company is doing “a thorough assessment” of the project to develop a major gas processing facility that will be able to handle prolific gas flows when its parent, Adnoc Group, unlocks the Bab Gas Cap reservoir onshore Abu Dhabi 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
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, reviewed the operating position of the national natural gas network and the plans to secure supplies during the second half of summer. Badawi inspected operations from the national gas network control center at the Egyptian Natural Gas Company (GASCO), focusing on supplies to electricity generation plants and other major consumers. The minister was also briefed on gas deliveries to power plants amid high temperatures and soaring electricity demand. He also followed supplies to industrial facilities to support continued operations, alongside domestic consumption and export commitments. Moreover, Badawi said the Ministry of…
State oil marketer Somo issued a tender on 2 August to sell 268,131 tons (1.79mn barrels) of straight-run high-sulfur fuel oil (SRHSFO) stored on board the US-sanctioned floater Hellstugutinden after securing a waiver from the US’ Office of Foreign Assets Control (Ofac) allowing the sale. The waiver was issued on 9 February, shortly before the start of the Middle East conflict that has restricted exports from Iraq’s Basra terminals through the Strait of Hormuz. The cargoes are to be lifted Ex-Floater in one or two lots in the Khor al-Zubair lightering area, with bids closing on 11 August. The Hellstugutinden…
Join MEED’s analysts for an exclusive update on the Mena oil, gas and petrochemicals projects market, investment trends and upcoming contract opportunities. 🌐 Webinar: Mena Oil & Gas Projects Market 2026-27 🗓 Thursday 27 August 2026 | 🕐 11:00 AM GST | Register now Summary of the Mena oil, gas and petrochemicals projects market Overview of major megaprojects, including project programmesAnalysis of active contracts and spending to dateReview of top contracts by work already awardedLong-term capital expenditure outlays and forecastsKey contracts expected to be tendered and awarded over the next 18 monthsLeading clients, contractors and market participantsSpending by segment: oil, gas and petrochemicals (upstream, downstream,…
ADNOC Gas, the natural gas processing and marketing arm of Abu Dhabi National Oil Company (ADNOC), is considering building a liquified naturalgas (LNG) export facility on the UAE’s east coast as the country seeks to reduce its reliance on the Strait of Hormuz following disruptions caused by the Iran war, Bloomberg reports. The company has not made a final decision on the project, CFO Peter van Driel told Bloomberg Television. The proposed facility would give the UAE an alternative route for LNG exports without sending supplies through the contested waterway. The plan forms part of wider efforts to build infrastructure…
The 9 August attack was the second drone strike in as many weeks on the 400,000-barrel-a-day refinery on Saudi Arabia’s Red Sea coast by Yemen-based Houthi rebels 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
ADNOC Gas, affiliated to Abu Dhabi National Oil Company (ADNOC), reported net profit of $665 million for the second quarter (Q2) of 2026, exceeding its guidance range of $400 million-$600 million despite disruptions to maritime movements through the Strait of Hormuz. However, net income fell 52% year-on-year (YoY) from $1.39 billion in Q2 2025. Reuters reported that the decline came as the closure of the Strait of Hormuz disrupted the company’s operations following US and Israeli attacks on Iran. “ADNOC Gas delivered resilient Q2 net income above our guided range, despite a challenging operating environment, reflecting the strength of our…
Opec crude oil production increased by 1.54mn b/d last month as the US-Iran détente enabled Gulf producers to increase output. Although the MoU unraveled during the first half of the month and Iran resumed attacks on shipping in the Gulf, clandestine shipments through the Strait of Hormuz continued. The production increases lifted Opec output to 20.39mn b/d, its highest level since February. Most of the gains came from Iraq, Saudi Arabia and Kuwait, although there was also some growth outside the Gulf (see table). (CONTINUED – 1013 WORDS) Read this article for free Gain access to over 60-years of energy…