Author: Rigs & Barge World
Saudi Arabia’s Acwa announced on 2 April that two of its large-scale solar PV plants in the kingdom are subject to temporary power dispatch limitations on instruction from the National Grid SA. In a disclosure to the Tadawul, Acwa said that the 1.425GW Al Kahfah and 2GW Ar Rass 2 solar plants continue to operate at limited capacity as a result. The limitations were imposed “following instructions from the grid operator citing alleged reactive power fluctuations affecting grid stability, matters that both project companies deny,” explained Acwa. The two plants are managed by separate project companies, both of which are…
The war that started with US and Israeli attacks on Iran on February 28, 2026, and escalated throughout the Arabian Gulf, could well be the third Gulf war that will have a wider impact on global energy security and markets. The other two conflicts were the Iran-Iraq war of 1980-1988 and Iraq’s invasion of Kuwait and the war of liberation from August 1990 to February 1991. These and the Arab-Israeli war in October 1973 — and the accompanying oil supply crisis — shaped global oil and energy relations as well as the Middle East and its relationship with the world…
ExxonMobil published an update on 8 April on the impact of the Iran war on its operations in the Middle East. Although its only producing upstream assets in the Middle East Gulf region are in Qatar and the UAE, combined production from the two countries is equivalent to around 20% of Exxon’s global oil-equivalent production. The company notes that this represents a smaller percentage of its upstream earnings. It expects that the Middle East conflict will have reduced its global oil-equivalent production by around 6% in Q1 against the previous quarter, implying a substantial 300,000 boe/d impact; Q4 output was…
Egypt has succeeded in addressing the challenge of accumulated dues owed to investment partners in the oil and gas sector, a problem that had negatively impacted investment flows and led to a decline in oil and gas production rates, Minister of Petroleum and Mineral Resources, Karim Badawi, told attendees of an American Chamber of Commerce (AmCham) event. The country reduced investment partner arrears from $6.1 billion in June 2024 to approximately $1.3 billion, with a target to fully settle all outstanding debts by June 2026, he said. Badawi emphasized that the commitment to regular monthly payments has already bolstered investment…
The Natural Gas Vehicles Company (Cargas) converted 30,000 vehicles to run on Compressed Natural Gas (CNG) during 2025, marking a 61% increase compared to the previous year, according to Chairman and Managing Director Mohamed Ismail. At this rate, the company accounted for 41% of the total CNG market, backed by its nationwide network of 56 conversion and maintenance centres. The results were announced during the company’s ordinary general assembly meeting, which was convened to approve the fiscal year (FY) 2025 results. The meeting was attended by Karim Badawi, Minister of Petroleum and Mineral Resources, alongside leaders from the Egyptian General…
Japan is weighing an additional release of about 20 days’ worth of oil reserves as early as May as the vital Strait of Hormuz remains largely closed despite a fragile two-week ceasefire between the US and Iran, according to Reuters. Japan began releasing oil from its stockpiles on March 16 in coordination with other nations and on its own. The country is making available about 50 days’ worth of oil consumption and has asked the International Energy Agency (IEA) to consider a coordinated release of a second batch, as Reuters reported. IEA member countries agreed on March 11 to release 400 million…
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Expanding investment opportunities across Egypt’s geological basins was the focus of the meeting that Karim Badawi, Minister of Petroleum and Mineral Resources, held with Egypt Upstream Gateway (EUG). Badawi in particular highlighted the recent agreement between South Valley Egyptian Petroleum Holding (Ganope) and the British bp for Block (6) in the Red Sea, noting that it represents a positive boost to the ongoing bid round, which is scheduled to close in May 2026. EUG, Egypt’s National Data Repository, safeguards and manages exploration data while serving as the central platform for promoting upstream opportunities. By streamlining access to seismic and well information,…
The Egyptian Natural Gas Holding Company (EGAS) has signed a 15‑year agreement to buy the entire output of the Cypriot Aphrodite gas field, with an option to extend the deal for an additional five years, Bloomberg reported, adding that the field would start production in about six years EGAS signed the preliminary deal with the companies that operate the Aphrodite project and Cyprus’ state-run oil and gas firm, The Aphrodite partners, and Egypt also agreed on a framework to develop a gas transmission system off the Mediterranean coast, noted the news agency. Cairo and the Aphrodite partners will set up a…
Iran’s closure of the Strait of Hormuz is forcing a reassessment of the waterway’s long-term viability as a regional export route (MEES, 27 March). Policymakers are again drawing lines on maps in search of corridors and alternative routes for Middle Eastern energy supplies to international markets. Damascus, and its backers in Washington, see an opportunity for Syria to serve as a possible conduit. But geography and security considerations limit its prospects. Syrian President Ahmed al-Sharaa visited Germany and the UK this week, his first trip to both countries, where he pitched Syria’s geographical location as a “link between East and…