Author: Rigs & Barge World
Crude oil exports from the Gulf states soared to a two-year high of 17.61mn b/d in June, counter to speculation that the 12-day Israel-Iran conflict might disrupt exports (MEES, 20 June). This was the highest monthly figure since June 2023, according to Kpler; the last month before Saudi Arabia implemented its 1mn b/d ‘lollipop’ cuts which ultimately laid the foundations for the 2.2mn b/d of voluntary cuts by eight Opec+ producers (MEES, 9 June 2023). The Group of Eight began tapering those cuts in April, and has accelerated the process since May; a total of 959,000 b/d of the cuts…
The Gulf of Suez Petroleum Company (GUPCO) held three training courses, which saw the participation of 51 trainees out of a total of 190 targeted by the program. These courses are part of a comprehensive training plan aimed at raising employee’s efficiency and enhancing their practical and theoretical capabilities. The training program used the application of Human and Organizational Performance (HOP) concepts, which focus on designing organizational systems characterized by flexibility and the ability to accommodate human errors. The courses come in the context of leveraging the existing partnership between the Egyptian General Petroleum Corporation (EGPC) and Baker Hughes to…
bp signed a Memorandum of Understanding (MoU) with Libya’s National Oil Corporation (NOC) to evaluate redevelopment opportunities in the mature giant Sarir and Messla oilfields in Libya’s Sirte basin. Under the MoU, bp will also explore the exploration potential of adjacent areas and examine the wider unconventional oil and gas potential within the country. The work scope of bp is to assess a range of technical data and, along with NOC, evaluate the presented opportunities to determine the feasibility of future development and exploration programs. “This agreement reflects our strong interest in deepening our partnership with NOC and supporting the…
The US continues to drive global LNG supply growth, with volumes primarily heading to Europe. For the first half of the year big Asian buyer… Source link
Through leading a consortium, ExxonMobil discovered a reservoir of natural gas at a prospect off the island’s coast, Reuters reported, citing Konstantinos Letymbiotis, the spokesperson of the Cypriot government. He explained that drilling operations revealed a 350-meter reservoir of natural gas at a depth of 1.9 kilometers in the Pegasus-1 well. Letymbiotis highlighted that this marks the second gas discovery in Block 10 by partners ExxonMobil and QatarEnergy, following the Glaucus-1 find announced in February 2019. He added that additional evaluation will be needed in the coming months to fully assess the findings. Earlier in 2025, drilling at Electra-1 confirmed…
Petroleum Marine Services (PMS) has been awarded the execution contract for Phase Four development of the Kamose offshore gas field in North Sinai. The scope of work includes the installation of three new offshore production platforms: Hoor, KDE-1, and Snefru. PMS will also deploy three 8-inch-wide offshore pipelines to link the new platforms to the existing production network, ensuring full connectivity to the company’s main offshore pipelines and integration with the floating production unit (MOPU). This aims to accelerate commissioning process and increase output from the Kamose natural gas field, the Ministry of Petroleum said on Tuesday. This phase builds…
A flurry of meetings this week between officials from the Iraqi federal government and the Kurdistan Regional Government (KRG) failed to finalize a deal to resume crude oil exports through the Iraq-Turkey Pipeline (ITP). A proposed ‘government to government’ compromise through which Erbil would put its contractual share of Kurdistan output into the pipeline gained traction, but Baghdad was ultimately reluctant to commit in writing to key conditions. Multiple sources confirm that the plan was for the KRG to send volumes equivalent to its contractual shares in various Kurdistan fields into the pipeline to be sold by federal state marketer…
The price of crude oil has shifted to bearish territory in light of softening demand, increased supply and evolving geopolitical risks. Despite a brief lull following a ceasefire between the US and the Houthis, Yemen’s Houthi rebels have resumed attacking ships in the Red Sea. A recent incident tragically resulted in a ship sinking and two crew members losing their lives, followed by another attack on the “Eternity C” that killed three mariners and wounded two others as of today, July 8, 2025. If these attacks persist, vessels will be forced to take longer, more expensive routes around Africa, alongside facing…
The Public Prosecution for Transport and Distribution, along with the Department of Health, Occupational Safety, and Environmental Protection (HSE) at the Egyptian General Petroleum Corporation (EGPC), held its quarterly meeting with companies operating in petroleum product transport and distribution. The meeting focused on reviewing the companies’ procedures for ongoing development in HSE practices, particularly those related to the transport and handling of petroleum products via tanker trucks. This comes as part of an integrated plan aimed at fostering more conscious engagement with the system’s human, operational, and procedural components. During the meeting, Ayman Abdel Badie, EGPC’s Vice Chairman for Transport…
Iran has brought three trains back online at the 2bn cfd South Pars Phase 14 gas processing plant, but the fourth 500mn cfd train which was damaged in an Israeli strike last month remains offline (MEES, 27 June). The processing trains at Kangan, northwest of Assaluyeh, receive gas via subsea pipelines from Iran’s giant South Pars gas field. Touraj Dehghani, CEO of South Pars Oil and Gas Company (SPOGC) announced on 25 June that operations at the Phase 14 facility have been restarted, with sales gas being supplied to the national grid. However, despite Iran’s semi-official Tasnim news agency stating…