Author: Rigs & Barge World

Abu Qir Fertilizers and Chemical Industries posted a 31% decline in its net profit for the fiscal year ending in June 2025 compared to the previous year to settle at EGP  9.34 million, according to a statement sent by the company to the  Egyptian  stock exchange. The company’s unaudited results included an amendment in the classification of expenses accrued due to the temporary closure of the company’s facilities. While the statement didn’t mention the reasons for the shutdown, it is most probably related to the period when the government stopped natural gas supplies to fertiliser factories due to a shortage…

ADNOC inked a 15-year Sales and Purchase Agreement (SPA) agreement with the Indian Oil Corporation Ltd (IndianOil), India’s leading integrated energy player, to deliver 1 million tons of liquefied natural gas (LNG) annually, mainly from ADNOC’s lower-carbon Ruwais LNG project. According to the agreement, LNG shipments will be delivered to ports across India, helping to meet the nation’s rising energy demand while strengthening its energy security. By 2029, ADNOC will supply IndianOil with a combined 2.2 mtpa of LNG, making the company its largest customer. This volume will include 1.2 mtpa from Das Island operations and 1 mtpa from the…

As Bahrain enters the final weeks of the sweltering summer season, the island kingdom is wrapping up its first ever summer of LNG imports. Five years after commissioning its $1bn LNG import terminal at the end of 2019, Manama has joined neighbors Kuwait (MEES, 22 August) and Dubai as an importer of the fuel (MEES, 13 June). A total of six cargoes amounting to 440,000 tons have so far been discharged at the island’s import terminal since May. The Bahrain LNG import terminal has regassification capacity of 800mn cfd (5.9mn t/y) and send-out capacity of up to 500mn cfd, leaving…

Badr El Din Petroleum (BAPTECO) has produced an average of 53,000 barrels of oil equivalent per day (boe/d) this year, drilled 18 wells and carried out 79 well workover and recompletion operations with total investments amounting to $183 million, Chairman Ashraf Abdel Gawad told the company’s general assembly, chaired by Minister of Petroleum, Karim Badawi. This meeting, held to approve the company’s results of the fiscal year (FY) 2024/2025, was attended by petroleum Sector leaders as well as representatives of BAPTECO’s international partners in the Western Desert, Cheiron and Capricorn Energy. Badawi confirmed that international companies operating in the Western…

In a meeting with Mostafa Madbouly, Egypt’s Prime Minster, Karim Badawi, Minister of Petroleum and Mineral Resource, reviewed the expansion plans for various exploration and discovery activities, as well as the efforts to attract more international companies to invest in this promising sector. Badawi emphasized that all available opportunities and potential in the oil and gas fields are being maximized. He also highlighted the recent developments in the activities of international companies working in the sector in Egypt. In this context, Badawi referred to the recent announcement regarding the successful drilling of the North Lotus exploration well, which was drilled…

Gulf of Suez Petroleum Company (GUPCO) invested $452m in FY 2024/25, maintained production level at around 57,000 barrels per day (bbl/d) and completed the first phase of the North Safa field, Abdul Wahab El-Maghawry, the company’s  Chairman, told its General Assembly headed by Minister of Petroleum and Mineral Resources Karim Badawi.  El-Maghawry added that the second phase of the North Safa Field is expected to go online in the third quarter of the current fiscal year. He also said the company is currently implementing a plan to drill and repair 14 wells in its concessions. El-Maghawry also pointed out that…

Production from the Partitioned Neutral Zone (PNZ) has remained steady so far this year and is on course for a full-year average broadly in line with 2024 levels. The PNZ is managed jointly by Saudi Arabia and Kuwait, with most production shipped overseas. Average exports of 341,000 b/d over the first seven months of the year are just 10,000 b/d below 2024 levels (see chart). Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link

The volume of butane gas provided by the Petroleum Gas Company (Petrogas) during the fiscal year ending in July came at 3.674 million tons, the company’s Chairman, Mohamed Farahat noted during the general assembly chaired by Karim Badawi, the Minister of Petroleum and Mineral Resources. During the same period, the company filled 313 million butane cylinders through 45 filling stations, owned by both the public and private sectors, which were provided through 3,028 distribution centres nationwide. He also mentioned that the company’s plants repaired and maintained 2.5 million cylinders for safe use and injected 175,000 new cylinders into the market.…

Kuwait’s gas production set a new monthly record of 2.07bn cfd in June (see chart 1), and is well on track to beat last year’s annual record of 1.83bn cfd for the year as a whole. Production averaged 1.85bn cfd over the first six months of 2025, the latest Jodi figures show. With associated gas output likely to rise further as Kuwait’s crude oil production increases, the full year figure could be much closer to 2bn cfd. Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive…

Baker Hughes, an energy technology company, won a long-term agreement for supplying services to bp for its Tangguh Liquefied Natural Gas (LNG) plant in Papua Barat, Indonesia. Under the 90-month deal, Baker Hughes will deliver spare parts, repair solutions, and field engineering services for essential turbomachinery—including heavy-duty gas turbines, steam turbines, and compressors—across three LNG trains, ensuring sustained reliability of the plant.  The agreement reinforces the company’s role as a trusted provider of integrated solutions. The agreement extends Baker Hughes’ long-standing partnership with bp at the Tangguh LNG project, which began in 2009 and was strengthened in 2024 with a…