Author: Rigs & Barge World
Wael Sawan, the CEO of Shell stated that his company is being “very careful” with its Middle East shipments, due to the Israel-Iran conflict, to ensure not taking unnecessary risks, Reuters reported. The conflict started on June 13, 2025 and escalated rapidly into a full-fledged exchange of missiles, drones, and air force strikes. Sawan also highlighted the importance of Strait of Hormuz in this regard and the consequences of its closure, saying “The Strait of Hormuz is, at the end of the day, the artery through which the world’s energy flows, and if that artery is blocked, for whatever reason,…
Egypt is taking the needed measures to secure the natural gas supplies, said Prime Minister Mostafa Madbouly at a press conference following the weekly Cabinet meeting. During the meeting, which marks the first for the Crisis Committee formed to monitor repercussions of the escalating Israeli- Iranian conflict, Madbouli said Egypt has received three Floating Storage and Regasification Units (FSRU), only one of which is currently operating, and the other two will come online by the end of June. In this respect, the government has activated an emergency plan to prioritize natural gas allocations few hours after the beginning of the…
The Middle East’s three LNG exporters are doubling down on LNG export plans, even as more states in the region tip into gas deficit. Regiona… Source link
TAQA Arabia, Egypt’s leading private sector energy and utility provider, has won the Power and Water Project of the Year and the Sustainable Initiative of the Year awards at the ‘Big 5 Egypt Impact Awards 2025’ for building the country’s first and largest solar-powered desalination plant. The plant, developed by TAQA Water in partnership with Somabay, is expected to supply more than 7,300 cubic meters per day (cm/d) of clear, fresh water for Somabay’s destination. The two awards highlight the company’s leadership in clean energy innovation and its vital role in advancing Egypt’s renewable energy and sustainable development agenda, TAQA…
The military conflict between Iran and Israel took a turn for the worse, as some missiles passed through Israel’s layered anti-missile defence system that resulted in a damage to a major medical centre and a hospital on Thursday morning. In response, Benjamin Netanyahu, the Israeli prime minister, vowed to exact a heavy price for the attack.It is almost a week since Israel launched a daring attack on Iran’s military targets, eliminating the most important figures in the military hierarchy; they included the chief of staff of the armed forces, the commander of the air force and above all, the chief…
The Japanese key gas player, Tokyo Gas, ruled out that the Israel-Iran war will directly affect its liquefied natural gas (LNG) purchases as it gets its LNG neither from the UAE nor Qatar, the company’s CEO Nobuhiro Sugesawa said. Meanwhile, he told Reuters that the company would increase its purchases from the US, from which it secures 10% of its supply. Tokyo Gas is looking at the developments of the situation with utmost interest, he said, noting that the conflict could push up the LNG prices, disrupting the global supply. Tokyo Gas Co., Ltd. is Japan’s largest city gas utility,…
Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA) announced on 11 June that it has awarded three production concessions to Adnoc and its “strategic partners.” All three are for previously awarded exploration concessions, where the license holders made commercially viable discoveries/appraisals. Nine exploration blocks were awarded through two licensing rounds launched in 2018 and 2019, and this week’s announcements brings the total number that have been upgraded into production concessions to four. Only one exploration concession has been relinquished so far; the Offshore 1 asset held by Eni (70%) and Thailand’s PTTEP (30%) (MEES, 7 February). (CONTINUED -…
Algeria’s National Agency for the Valorisation of Hydrocarbon Resources (ALNAFT) has awarded exploration licenses of five regions, out of six, to leading oil companies through the “Algeria Bid Round 2024” competition. The six proposed areas included Grand M’Zaid located in the Oued Mya basin; Ahara located in the Illizi basin; Reggane II in the Reggane basin; Zerafa II located in the Ahnet Gourara basin; Toual II located in the Berkine basin; and Guern El Guessa II located in the Gourara Timimoun basin. According to ALNAFT, seven bids were received. After the evaluation session, five areas were granted as follows; Ahara…
Egyptians woke on 13 June to the prospect that they could be faced with painful blackouts over the coming weeks as Israel and Iran exchanged blows (MEES, 13 June). Israel typically supplies Egypt with around 1bn cfd of gas, but this is due to drop as the Chevron-operated 1.1bn cfd Leviathan and Greek firm Energean’s 500mn cfd Karish, both located offshore northern Israel, have been taken offline. Energean says that it received notice from Israel’s Energy Ministry on 13 June “ordering the temporary suspension of production and activities of the Energean Power FPSO, following the recent geopolitical escalation in the…
The International Energy Agency (IEA) released a report on the oil market medium-term outlook, where it expected structural changes in the oil market amidst the outbreak of the Israel-Iran conflict. It forecasted that global oil demand will increase by 2.5 million barrels per day (mmbl/d) between 2024 and 2030, reaching the plateau of around 105.5 mmbl/d by the end of the decade. Furthermore, the report mentioned that the global oil production is expected to grow by 5 mmbl/d reaching 114.7 mmbl/d in 2030 led by Saudi Arabia and the U.S. It attributed this increase to the robust gains in natural…