Author: Rigs & Barge World
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Egypt’s Mansour Group and Chinese battery manufacturer Tianneng Battery Group have signed a memorandum of understanding (MoU) to explore investment opportunities in battery manufacturing and energy storage solutions in Egypt, the Ministry of Investment and Foreign Trade said in a statement. The proposed cooperation will explore producing lead-acid batteries for automobiles and lithium batteries for new-energy vehicles, according to the statement. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, witnessed the agreement, saying the project could support Egypt’s efforts to localize battery manufacturing and components used in new-energy vehicles. Lithium batteries and new-energy vehicle components represent promising sectors for…
Kuwait’s oil-dependent economy has weathered unprecedented disruption, yet major investment and infrastructure deals point to resilience 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
Middle East diesel exports through the Strait of Hormuz have risen in recent weeks although volumes remain insufficient to stabilize global markets for the middle distillate. Kpler data shows that exports increased to a four-month high of 165,000 b/d in July, but remain a fraction of typical pre-conflict levels of around 800,000 b/d (see chart). Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link
Karim Badawi, Minister of Petroleum and Mineral Resources, said Egypt is moving to restore oil and gas production growth after clearing foreign partners’ arrears, which stood at $6.1 billion in June 2024. Speaking to newspaper editors and media figures, Badawi said Egypt fully cleared the arrears in June 2026, helping restore investor confidence. Exploration and production activity increased by around 20% during 2026 as partners expanded drilling and production programs. Badawi said crude oil production has returned to an upward path, while the ministry targets higher natural gas production in FY 2026/27. Egypt recorded 112 new discoveries over the past…
MEED reported in May that Saudi Aramco had selected the French contractor for its two new groups of project management consultants and brownfield EPC service providers 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
Regional oil companies are prioritising gas processing, with 2026 emerging as a standout year for project awards 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 conflict sparked by joint US/Israeli airstrikes against Iran on 28 February has reached the six-month mark, confounding President Donald Trump’s initial optimism that it would be done and dusted within six weeks. Instead, the protracted conflict has metastasized, ensnaring the six GCC states as well as Iraq, Jordan, Yemen and even Egypt. Far from toppling the regime in the Islamic Republic of Iran, the conflict has provided Tehran with the opportunity to make good on its repeated threats to close the Strait of Hormuz, through which around 20mn b/d of oil was shipped before the war began. This has…
DNO ASA, a Norway-based oil and gas exploration and production operator, has reached an agreement on the terms of a recommended all-cash acquisition to acquire Capricorn Energy plc, a UK-listed independent upstream energy company, in a deal valuing the firm at approximately $396 million (£292 million), according to a press release by Capricorn. The offer effectively supersedes an earlier agreed transaction with Genel Energy plc, providing a higher cash consideration and marking DNO’s entry into the Egyptian upstream sector. Commenting on the Acquisition, Randy Neely, Chief Executive Officer of Capricorn, said: “We are pleased to recommend this higher all-cash offer…