Author: Rigs & Barge World

“Egypt enjoys a promising potential in liquefied natural gas (LNG) complexes, supported by a well‑developed national gas transmission network and a strategic geographic location that links its production areas with global markets”, said Prime Minister Mostafa Madboul during his visit to the Egyptian Liquefied Natural Gas LNG (ELNG) complex located in Idku, Beheira. Participating in the visit, Karim Badawi, Minister of Petroleum and Mineral Resources, described the Idku LNG complex as one of Egypt’s most important strategic assets. He highlighted progress in cooperation between Egypt, Cyprus, and international partners on projects aimed at transporting and processing Cypriot gas through Egyptian…

The Middle East’s refined oil traders have been dealt a major blow by the closure of the Strait of Hormuz, with trade slowing to a trickle. Geopolitical shifts were already complicating the landscape for traders in the UAE, as a tightening of US sanctions on Russian and Iranian barrels had created new industry headwinds prior to the conflict. As they adapt to the new normal, traders are trying to find workarounds, including trucking oil across the UAE to facilities outside the strait. (CONTINUED – 640 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…

Prime Minister Mostafa Madbouly reaffirmed the government’s commitment to attracting new investments into the oil and gas sector during a tour of the natural gas production facilities in Egypt’s West Delta Deep Marine (WDDM) during a visit to Beheira Governorate. Madbouly was accompanied by Karim Badawi, Minister of Petroleum and Mineral Resources, and executives from foreign companies that are operating in the area, including UK Shell, Malaysia’s Petronas, and Kuwait Foreign Petroleum Exploration Company (KUFPEC). The WDDM area is operated by Rashid Petroleum Company (Rashpetco), the joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) alongside Shell and Petronas. During…

The global aviation industry is facing its biggest crisis since the Covid-19 pandemic in 2020. At its heart, the latest crisis stems from reduced jet fuel availability, which is threatening physical shortages this year. “Airlines now face unprecedented and simultaneous challenges,” says the International Air Transport Association (IATA) in its recently released 2026 global outlook. It says the biggest challenges are the doubling of input costs, “a genuine threat of physical fuel shortage,” and a global economic slowdown hampering travel demand. (CONTINUED – 734 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news…

President Abdel Fattah El-Sisi reviewed progress on the second phase of projects aimed at strengthening Egypt’s national electricity grid during a meeting with Mahmoud Esmat, Minister of Electricity and Renewable Energy, noted a Cabinet Statement. According to the presidential spokesperson, Ambassador Mohamed El-Shenawy El-Shennawy, the meeting looked into the implementation status of the second phase of grid reinforcement projects, which comprises around 105 projects. Esmat also briefed the president on plans to connect solar and wind energy projects to the national grid by 2027. The meeting also shed light on the ongoing solar energy and battery storage projects as part…

Prime Minister Mostafa Madbouly reaffirmed the government’s commitment to attracting new investments into the oil and gas sector during a tour of the natural gas production facilities in Egypt’s West Delta Deep Marine (WDDM) during a visit to Beheira Governorate. Madbouly was accompanied by Karim Badawi, Minister of Petroleum and Mineral Resources, and executives from foreign companies that are operating in the area including UK Shell, Malaysia’s Petronas, and Kuwait Foreign Petroleum Exploration Company (KUFPEC). The WDDM area is operated by Rashid Petroleum Company (Rashpetco), the joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) alongside Shell and Petronas. During…

Saudi Arabia has been exporting record amounts of refined products from its Red Sea refineries since the build up to the Hormuz crisis. The kingdom’s 1.9mn b/d fleet of Red Sea refineries is supplied through the 7mn b/d East-West pipeline, and has become an important source of refined products following the closure of the Strait of Hormuz. The Red Sea refineries are generally modern plants designed to supply European markets with ultra low sulfur diesel (ULSD). Saudi Aramco increased throughputs at its Red Sea plants in the buildup to the Middle East conflict that broke out on 28 February as…

Morocco sees natural gas as a key pillar of its national strategy to achieve energy sovereignty and diversification amid political and global supply challenges, despite being a regional leader in renewable energy and having limited gas reserves. The country’s dirty secret is that while renewables accounted for a record 24.6% of power generation and 41.3% of installed capacity in 2024 (see chart 1), the single largest source of power generation is coal. Morocco plans to phase out coal-fired power generation by 2040 (MEES, 31 October 2025), but in 2024 it accounted for 59.3% of the total and MEES estimates that…

Egypt announced on 10 June that it has “fully settled its arrears to foreign oil and gas partners,” in line with its expedited target (MEES, 29 May). The buildup of IOC receivables has been a recurring theme in Egypt in recent years, and as IOCs have been unwilling to invest heavily due to payment concerns, this has contributed to declining oil and gas output. In order to address this, Minister of Petroleum Karim Badawi made paying off arrears a priority since assuming the role in mid-2024. The arrears stood at a massive $6.1bn at the time, and Egypt’s ability to…

Prime Minister Mostafa Madbouly, held a meeting to follow up on securing financing for new and renewable energy projects, ensuring alignment with their implementation timelines, according to a statement issued by the Cabinet. Madbouly emphasized that mobilizing the required funds is essential to support the national electricity grid, reduce reliance on conventional fuels, and enhance energy efficiency. He also called for continued coordination between the Ministries of Electricity and Finance, along with relevant entities, to accelerate the integration of additional clean energy capacities to meet rising demand and ensure service sustainability. The meeting highlighted the government’s strong commitment to renewable energy…