Author: Rigs & Barge World

An unbinding framework agreement was signed in the Chinese capital, Beijing, between the Red Sea National Petrochemicals Company and the China National Chemical Engineering Company (CNCEC), for the implementation of the Red Sea Petrochemical Project in the Suez Canal Economic Zone (SCZONE). The agreement was signed at the CNCEC headquarters in the presence of a high-level delegation from both the Egyptian and Chinese sides. It underscores the strategic importance of the project—one of Egypt’s most prominent future projects in the chemical industries sector, according to a press release by the Ministry of Petroleum and Mineral Resources. During his speech, Ibrahim…

A team of executives representing US companies, including Baker Hughes and Hunt Energy, travelled to Damascus earlier this month with the ai… Source link

Baker Hughes, the global oil and gas innovations supplier, is about to acquire Chart Industries, a U.S-based industrial manufacturing company working in gas-handling systems, through a deal worth $13.6 billion, Reuters reported. Sources said the transaction is expected to be announced in the coming days, though they noted that the agreement is not yet final. They added that the potential deal would replace the $19 billion all-stock merger Chart Industries agreed to with Flowserve in June. According to the Financial Times, Baker Hughes’ interest in acquiring Chart Industries prompted the company’s board to reconsider its merger agreement with Flowserve. Source…

Since its mid-2023 startup, Oman’s 255,000 b/d Duqm refinery has taken a different path from the country’s other plants. Operated by OQ8 – a joint venture between Kuwait Petroleum International (KPI) and Oman’s OQ – it has adopted a more commercially driven approach. “We hope to be a trading-led merchant refinery, capitalizing on opportunities as they present themselves,” OQ8 CEO David Bird told MEES in July last year (MEES, 5 July 2024). As a fully export-focused refinery, Duqm would benefit from flexibility in marketing its middle distillates-heavy output, including diesel and jet fuel – a strategy that has paid dividends…

Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR) met with Suhail Mohamed El Mazrouei, UAE Minister of Energy and Infrastructure, at Emirati Abu Dhabi to discuss cooperation opportunities across the energy sector. Both ministers agreed to form a joint working group to exchange best practices and success stories. The meeting aligns with the MoPMR goals to foster regional and international cooperation for energy security and expand benefit from Egypt’s existing infrastructure as a regional energy hub, said the ministry on Tuesday. At the end of the meeting, Minister Badawi extended an invitation to his UAE counterpart to visit Egypt.…

Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with Mathios Rigas, CEO of the Greek company Energean, at the Ministry’s headquarters in New Alamein City. During the meeting, both sides discussed ways to support and enhance joint cooperation in the oil and gas industry. They focused on expanding the application of Carbon Capture and Storage (CCS) technologies, leveraging the Greek company’s expertise and the alignment between Egypt and Greece in adopting environmental sustainability solutions and reducing carbon emissions. Badawi affirmed that Egyptian-Greek relations are witnessing growing strategic cooperation, especially in the energy sector. He highlighted that Egypt…

Ankara’s decision this week to exit the ITP treaty and its amendments sets the stage for negotiations on new terms with Baghdad for utilization of the oil export system. Turkey appears to favor an expansive energy framework that would include gas and electricity alongside oil. It could also seek flexible terms that would allow it to contract users other than Federal Iraq, potentially including the Kurdistan Regional Government (KRG). But the Iraqi government is likely to insist on exclusive rights to the ITP. Failure to agree amicable terms risks further uncertainty over the future of Iraqi Kurdistan’s oil sector. The…

TotalEnergies’ hydrocarbon production increased by 1% to 1,966 barrels of oil equivalent per day (boe/d) during the first half (H1) of 2025 compared to 1,956 boe/d in H1 2024. The company’s liquid production in H1 2025 amounted to 1,440 barrels per day (bbl/d), while gas production reached 2,807 million cubic feet per day (mmcf/d). Regarding the results of the second quarter (Q2) of 2025, production recorded 1,956 boe/d, comprising 1,437 bbl/d of oil and 2,767 mmcf/d of natural gas. Regarding its financial results, TotalEnergies achieved cash flow from operations (CFFO)of $13.6 billion in H1 2025 and $6.6 billion in Q2…

President Abdel Fattah El-Sisi held a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources. During the meeting, the President emphasized the importance of petrochemical and mining projects carried out by the Ministry of Petroleum and Mineral Resources. He highlighted their significant contribution to maximizing the added value of Egypt’s natural and mineral resources, meeting local market demands, facilitating exports, and expanding related industries, as they create jobs and boost national economic returns. The President also directed that efforts to localize related industries in Egypt and attract investments to this vital sector be accelerated. The discussion came in a…

Egypt LNG *Imports By Origin: With 3 FSRUS Now Connected To The Grid At Ain Sukhna LNG Imports Saw Late July Ramp-Up (Mn Tons) Egypt Imports Of Israeli Gas Drop Further In June On Conflict-Related Shut-Ins Of Leviathan & Karish In Israel (mn cfd) 1: Gas Consumption Slumps On Reduced Supplies (bn cfd) 2: Gas Burn Inches Up As Cairo Prioritizes Power Over Industry (bn cfd) 3: Fuel Oil Burn Ramps Back Up As Cairo Looked To Prevent Blackouts (‘000 b/d) Source link