Author: Rigs & Barge World
Jordan received on Friday the Energos Force floating, storage, and regasification unit (FSRU) at its Aqaba port, ahead of its connection to the Arab Gas Pipeline. The unit is set to commence operations next Tuesday, facilitating the gasification of liquefied natural gas (LNG) shipments, according to Jordan’s news agency. Egypt and Jordan signed a cooperation agreement in 2024 that entails leveraging Egypt’s floating storage and regasification units (FSRUs) to supply Jordan with natural gas and secure its local market demands. Jordan will benefit from the LNG to operate its power plants, said Sufian Batayneh, General Director of National Electric Power Company…
Iraq held high-profile ceremonies last week showcasing progress the country is making in bringing online new gas processing capacity aimed at ending routine gas flaring. Prime Minister Mohammed al-Sudani inaugurated two new gas plants which have been brought online since late-2024. These took processing capacity to more than 2.1bn cfd, from 1.3bn cfd in 2023 (MEES, 6 June). Yet despite this increased capacity and bullish comments from officials, there is little indication of significant increases in gas capture rates. The newly inaugurated plants are the 130mn cfd Faihaa gas plant operated by China’s UEG and brought online in December 2024,…
The European Commission announced on 28 July that it has opened an “in-depth investigation to assess” Adnoc’s purchase of German chemicals firm Covestro (MEES, 4 October 2024). The EC cites “preliminary concerns that foreign subsidies granted by the United Arab Emirates (‘UAE’) could distort the EU internal market.” The move has caused renewed jitters over whether the deal will secure EC Foreign Subsidies Regulation (FSR) clearance (MEES, 6 June), but informed sources still point to the deal ultimately being approved. One brokerage source highlights that the announcement’s reference to “possible” rather than realized foreign subsidies “and seems more focused on…
The Middle East’s position as a global energy powerhouse can no longer be defined solely by the scale of its hydrocarbon reserves. In today’s markets, where carbon performance increasingly shapes trade flows and price structures, Gulf states are confronting a new reality. Long-term competitiveness will depend not only on the production of energy, but on how cleanly and credibly that energy is delivered. Landmark policy shifts in key import markets are already changing the rules. The European Union’s Carbon Border Adjustment Mechanism (CBAM) (MEES, 27 October 2023), along with Asia’s rising demand for cargo-level certification, is turning carbon value into…
The GCC’s Interconnection Authority (GCCIA) began the delayed commissioning of its new 2.5GW Wafra (Z) substation in Kuwait this week . The new station is connected to the GCCIA’s existing Fadhili substation in Saudi Arabia and will raise interconnector capacity with the emirate to 3.6GW. Kuwait has been relying on imports through the existing 1.2GW connector this year, with flows averaging a record 851MW (613GWh) in June. Ministry of Electricity, Water and Renewable Energy (MEWRE) spokesperson Fatima Abbas on 30 July said imports have helped avoid “major faults and power cuts” in recent weeks. Peak demand in May and June…
China’s manufacturing sector showed a clear sign of contraction in July 2025, amid escalating trade tensions between the world’s two largest economies.The Chinese manufacturing Purchasing Managers’ Index (PMI), a key indicator of manufacturing activity, fell from 49.7 in June to 49.3 in July, defying economic analysts’ expectations. This marked the fourth consecutive month that the PMI has been below 50, which signifies a contraction in the sector. This downward trend suggests that the tariffs war between the U.S. and China is beginning to impact Chinese exporters.Adding to the tension, U.S.-China relations, which had shown signs of improvement, deteriorated again last…
Saudi Arabia’s budget deficit fell by 40% sequentially in Q2 to $9.2bn, bringing the total year-to-date figure to $24.9bn. Despite the improvement from Q1, this is already within touching distance of the budget forecast’s full year deficit figure of $26.9bn. Revenues increased by $10bn from Q1 to $80.4bn despite oil prices tumbling in early April following the rollout of the new US tariff regime. Oil revenues ticked up last quarter by $600mn to $40.5bn, while higher tax revenues drove non-oil revenues to a record $40bn. Q2 is typically the high-point for tax revenues, pointing to a weaker budget performance and…
The Egyptian Ethylene and Derivatives Company (ETHYDCO) and the Egyptian Projects Operation and Maintenance Company (EPROM) signed a Technical Services Agreement for the provision of technical services, project collaboration, and support in technical and engineering fields. This agreement allows ETHYDCO to utilize EPROM’s technical and operational expertise, especially in integrated technical support for its projects and production units. This collaboration is designed to continually enhance operational efficiency and performance while upholding top-tier engineering, safety, and occupational health standards, according to an EPROM statement. It also includes joint efforts in developing engineering and technical skills through specialized training, The agreement was…
Turkey will start providing Syria with natural gas on Saturday, August 2, Alparslan Bayraktar, Turkey’s Minister of Energy and Natural Resources, told the Anadolu news agency. Meanwhile, Syrian Energy Minister Mohammed al-Bashir noted in a statement released by his ministry and quoted by Reuters: “Starting August 2, Syria will begin receiving 3.4 million cubic metres of gas from Azerbaijan to Aleppo Governorate via Turkey”. This would contribute to generating some 900 megawatts of electricity and help enhance the stability of the electricity grid in Syria. He explained that Syria made a swap agreement with Azerbaijan, and the gas that will come…
Shell, the British oil giant, recorded $11.937 billion in Cash Flows From Operations (CFFO) in the first quarter of 2025, compared $9.281 billion in the same quarter of 2024,” reflecting strong operational performance in a less favourable macro environment,” according to a Shell statement. Meanwhile, the company’s adjusted net profit showed a 22 per cent decline to reach $4.3 billion during Q2 2025, compared to the same quarter of the previous year, a decline caused” by a drop in oil prices, lower gas trading results and outage-related losses” according to Reuters. The statement said that Shell’s focus “on performance, discipline…