Author: Rigs & Barge World
President Abdel Fattah El-Sisi has approved a memorandum of understanding (MoU) for a grant worth 300,000 Kuwaiti dinars from the Arab Fund for Economic and Social Development (AFESD) to finance a feasibility study aimed at increasing the capacity of the electricity interconnection line between Egypt and Jordan, according to Al Ahram citing the official Gazette. The approval was issued under Presidential Decree No. 568 of 2025 and came after obtaining Cabinet approval, parliamentary endorsement on March 30, 2026, and presidential ratification on April 5, 2026. Egypt exported 306.08 million kilowatt-hours (kWh) of electricity to Jordan during 2025, generating total revenues…
Badr El-Din Petroleum Company (BAPETCO) plans to start production of a new well in the Badr 15 area in the Western Desert by the end of this month at a rate of around 15 million cubic feet per day (mmcf/d) of natural gas, alongside 500 barrels per day (bbl/d) of condensates, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The update was presented during Karim Badawi, Minister of Petroleum and Mineral Resources, inspection tour of BAPETCO’s fields in the Western Desert, where he witnessed hydraulic fracturing operations at the newly discovered well. Badawi asserted that the ministry…
US President Donald Trump agreed to end the war with Iran to prevent what he labeled global economic “bedlam” as oil inventories fell to critical lows (MEES, 19 June). At the G7 summit in France, where he signed a memorandum of understanding with Tehran to cease hostilities and begin negotiations, he adopted a notably softer tone toward Iran than his normal comments. In contrast, his pointed criticism of Israeli policy in Lebanon came as a surprise given that Washington had until now granted its ally free rein there. “I feel bad for Lebanon,” he said, speaking to reporters. “Israel has…
Yasser Ramadan, Chairman of Egypt’s Mineral Resources and Mining Industries Authority (MRMIA), met with Reda Selim, Chairman of Egypt’s New Valley for Mineral Resources and Oil Clay (Wadico); Nasser Shaheen, Chairman of Misr Phosphate Company; and Cheng Yali, General Manager of China’s Hubei Xingfa Chemicals Group Company. The meeting focused on exploring ways to strengthen cooperation in executing value-added projects for phosphate ore, aiming to process it into high-economic-return industrial products. During the meeting, the participants reviewed updates on the ongoing collaboration between the parties and followed up on the executive procedures for the joint project. They also discussed mechanisms…
Saudi Arabia’s renewable plants generated a record 24.7TWh last year as its clean-energy revolution continued to gather pace. Solar and wind accounted for more than 5% of total power generation as a result, and with the capacity gains continuing this year, the share of renewables in the mix should rise higher still. The new data from Saudi Energy’s 2025 Sustainability Report underscores the pace at which renewables are transforming from a sideshow to a core part of Saudi Arabia’s electricity mix. Not only do they displace oil from power plants, they provide crucial supply diversity to strengthen the kingdom’s power…
European Union (EU) companies will be prohibited from trading or marketing Russian liquefied natural gas (LNG) from 2027, regardless of whether the cargoes are destined for the EU or third countries, according to Reuters. The EU letter, sent by the office of EU Energy Commissioner Dan Jorgensen to shipping brokerage and LNG advisory firm Poten and Partners, clarified that the restrictions apply to all Russian LNG transactions conducted by EU operators. “The ban prohibits companies from trading or marketing Russian LNG to third countries as it is not relevant whether the Russian LNG is destined for the EU or not,”…
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…