Author: Rigs & Barge World
Representing Egypt’s petroleum sector at the Global African Hydrogen Summit in Namibia, Yasseen Mohamed, First Undersecretary of the Ministry of Petroleum and Mineral Resources, said in a panel discussion that Egypt is committed to supporting green hydrogen initiatives as a cornerstone of its energy transition strategy and climate change mitigation efforts. He pointed out that the country’s geographical location, infrastructure, and expertise make it a pivotal partner in the efforts to transition to clean energy. Mohamed also presented Egypt’s vision on Africa’s Green Hydrogen potential, adding that regional integration and international cooperation are both crucial for strengthening Africa’s position as…
The International Energy Agency (IEA) forecasted a rise in global oil production by 2.7 million barrels per day (mmbl/d), to record 105.8 mmbl/d in 2025, as a reflection of the OPEC+ decision to ease back its earlier oil production cuts. According to report, IEA also expects production to rise by 2.1 mmbl/d, reaching 107.9 mm/d in 2026. It noted that the supply in August moved up slightly to 106.9 mmbl/d. Additionally, the report anticipated an increase in global demand by 740,000 barrels per day (bbl/d) in 2025. IEA stated that refinery crude output increased by 400,000 bbl/d to reach 85.1…
On the sidelines of the Gastech Exhibition and Conference 2025 in Milan, Karim Badawi, Minister of Petroleum and Mineral Resources, held a series of meetings with the heads of major international energy companies. The discussions were part of Egypt’s efforts to support its position as a regional energy hub and attract more foreign investment. The Minister met with Patrick Pouyanné, Chairman and CEO of TotalEnergies to discuss cooperation in exploration and production projects in natural gas and new energy activities. They also explored opportunities for injecting new investments to leverage Egypt’s advanced energy infrastructure. The Minister further met with Musabbeh…
Woodside Energy Trading Singapore Ltd and PETRONAS LNG, a subsidiary of Petroliam Nasional Berhad (PETRONAS), have signed a fully termed sale and purchase agreement (SPA) for the delivery of 1 million tons per annum (Mtpa) of liquified natural gas (LNG) to Malaysia starting in 2028, for 15 years. The agreement converts the non-binding Heads of Agreement (HOA) reached in June 2025 into a binding contract, highlighting both companies’ commitment to strengthening collaboration across the LNG value chain. Based upon the agreement, LNG will be supplied from Woodside’s global portfolio, potentially including volumes from its newly sanctioned Louisiana LNG project in…
Karim Badawi, the Minister of Petroleum and Mineral Resources, said that the Egyptian government prioritizes creating a stable, attractive investment climate in the oil and gas sector. He mentioned this during his chairmanship of the roundtable session titled ‘Maximizing Egypt’s Natural Gas as a Value-Added Resource’, which took place as part of the Gastech 2025 Exhibition and Conference in Milan. Also joined the roundtable was George Papanastasiou, Cypriot Minister of Energy, Commerce and Industry; Osama Mobarez, Secretary General of the East Mediterranean Gas Forum (EMGF), and heads of major international companies. A comprehensive package of measures, including investment incentives and…
The price of WTI and Brent crude oil saw a slight increase on Wednesday, a movement that could be attributed to heightened geopolitical tensions in the Middle East. This followed reports of a significant Israeli airstrike in Doha, Qatar on Tuesday, which was reportedly targeting Hamas leaders. While initial reports claimed the leaders survived, Hamas stated that several bodyguards were killed in the attack. The Israeli government has not publicly confirmed the outcome of the operation. This incident drew widespread international condemnation on Tuesday, but tensions appeared to be easing on Wednesday. As a result, any upward pressure on oil and…
On the sidelines of the Gastech 2025 conference, Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi held a meeting with a World Bank delegation led by Zubin Bamji, Director of the Bank’s Global Gas Flaring Reduction Partnership (GFMR). The talks reinforced the strategic partnership between Egypt and the World Bank (WB) in advancing the oil and gas sector and promoting sustainable energy solutions. Minister Badawi expressed Egypt’s appreciation for the WB’s pivotal role as a key partner in the sector’s development and modernization. He underlined that while renewable energy is expanding, oil and gas will remain essential components of…
The Egyptian Natural Gas Holding Company (EGAS) has signed a memorandum of understanding (MoU) with bp for assessing opportunities to implement a drilling program of five exploratory wells at depths ranging from 300 to 1,500 meters in the Mediterranean Sea. The agreement aims to accelerate natural gas production from the West Nile Delta by leveraging existing infrastructure. Drilling operations are scheduled to begin next year, with potential new discoveries to be tied to current facilities after evaluation. Following the signing, Karim Badawi, the Minister of Petroleum and Mineral Resources, noted that the agreement with bp reflects the strength of a…
Egypt plans to carry out an ocean bottom node (OBN) seismic survey project in the Eastern Mediterranean, covering an area of 95,000 square kilometers using the latest global technologies in seismic surveying and exploration, according to Karim Badawi, the Minister of Petroleum and Mineral Resources. The project aims to utilize gas resources in the Eastern Mediterranean, while boosting investment opportunities in gas exploration and production in Egypt, said Badawi during the GASTECH Exhibition and Conference in Milan, Italy. The Minister pointed out that accurate data provided via the project will reduce risks, enabling investment opportunities for international companies to expand…
The Supreme Council of Energy held a meeting chaired by Mostafa Madbouly, the Prime Minister to discuss securing energy supplies from diverse sources to support the state’s objectives across key productive and developmental sectors. The meeting also emphasized aligning with Egypt’s sustainable development vision and attracting more domestic and foreign investments. It was attended by Karim Badawi, Minister of Petroleum and Mineral Resources; and Mahmoud Esmat, Minister of Electricity and Renewable Energy, among other ministers. During the meeting, attendees highlighted the state’s efforts, in cooperation with numerous global companies and private sector institutions, to implement more energy projects, particularly in…