Author: Rigs & Barge World
ExxonMobil Egypt, a leading provider of high-quality lubricants and fuels with a wide network of convenience retail shops and centers, renewed and expanded its collaboration with the Sawiris Foundation for Social Development (SFSD), providing additional support to the “Bab Amal” program. The partnership aims to assist nearly 100 families in Assiut Governorate, with implementation handled by the Giving Without Limits Association. This move reaffirms ExxonMobil Egypt‘s commitment to expanding the positive impact of this successful collaboration on local communities, building on the program’s solid achievements since it started. It also reflects the company’s ongoing dedication to supporting community-driven initiatives that…
This week saw a landmark event for Adnoc Gas expansion plans, with the firm taking FID on the first phase of its $5bn Rich Gas Development (RGD). RGD will increase Adnoc Gas’ processing capacity by 1.5bn cfd, and the firm awarded Engineering, Procurement and Construction Management (EPCM) contracts for work at four sites – Asab, Bu Hasa, Habshan and Das Island. Adnoc Gas currently has more than 10bn cfd processing capacity, and RGD is a core part of plans to increase this to nearly 14bn cfd through the addition of 3.7bn cfd capacity by the end of the decade. Overall,…
Minister of Petroleum and Mineral Resources Karim Badawi attended the “Energy Transition: Eastern Mediterranean and Southeast Europe” Summit, held in the Greek capital Athens on June 17–18, 2025. Badawi participated as a keynote speaker in a panel discussion titled “Achieving Regional Synergy in a Transitional Energy Landscape” along with George Papanastasiou, Cypriot Minister of Energy, Commerce and Industry; and Tasos Chatzivasileiou, Greek Deputy Minister of Foreign Affairs. During the session, Badawi underscored the Egyptian petroleum sector’s commitment to balancing energy security with environmental responsibility. He highlighted their strategic priorities, including boosting regional cooperation and maximizing infrastructure use. A key initiative…
The International Energy Agency (IEA) stated in a report that any disruption to transit flows in the Strait of Hormuz (SoH) would have significant consequences for global oil and LNG markets. The report, issued in December 2023, notes that prolonged disruption will trigger a sharp surge in oil prices and lead to swift, widespread supply shortages. Moreover, worldwide LNG supply could fall by approximately 295 mmcm/d. SoH is a narrow, strategically vital waterway located between the Persian Gulf and the Gulf of Oman, separating Iran to the north and Oman and the UAE to the south. It serves as a…
US crude oil production has entered a period of decline warns the US Energy Information Administration (EIA) in its latest Short Term Energy Outlook (STEO). The EIA is the latest entity to ring the alarm bell over the US crude production outlook in the wake of the post-‘Liberation Day’ oil price fall. “We forecast U.S. crude oil production will decline from an all-time high of 13.5 million barrels per day (b/d) in the second quarter of 2025 (2Q25) to about 13.3 million b/d by 4Q26 because of decreasing active drilling rigs and declining oil prices,” notes the EIA in the…
Minister of Petroleum and Mineral Resources Karim Badawi met with Ahmed Elsewedy, CEO and Managing Director of El Sewedy Electric Company, along with his accompanying delegation. The meeting discussed ways to enhance joint cooperation in mineral resources, petroleum, petrochemicals, and green energy activities. During the meeting, Badawi reviewed the six main pillars of the ministry’s work strategy, which include numerous investment opportunities across all petroleum activities and the promising mining sector. Badawi stated that issuing the decision to transform the Egyptian Mineral Resources Authority (EMRA) into an economic entity under the name “Mineral Resources and Mining Industries Authority ” represents…
Israeli military strikes against Iran’s nuclear program have long been held up as a worst-case scenario for geopolitical risk in the Middle East, and on 13 June that scenario materialized as Israeli military jets struck the Natanz uranium enrichment facility among other sites across the country. Reports indicate Iranian nuclear scientists were targeted as well. The extent of the strikes and of Iran’s initial response was still unfolding as MEES went to press, with Iranian drones en route to Israel. Iran’s response to the attacks will be a key inflection point for the region. Iran’s initial retaliatory strikes have been…
TotalEnergies acquired PETRONAS interests in multiple blocks offshore Malaysia and in one block offshore Indonesia. The blocks are still under operations of exploration, appraisal and development programs. According to the partnership, TotalEnergies is to take over 50% of PETRONAS’s shares in Blocks SK301b and SK313. Significant gas discoveries were made at these blocks, with production capacities exceeding 4 trillion cubic feet (tcf) of gas. The blocks are expected to be developed to support gas supply to Malaysia LNG from 2030. TotalEnergies will also own interests in several other exploration blocks offshore Malaysia. The transaction is pending customary conditions, including regulatory…
Montney operators ready for LNG Canada startup Source link
Prime Minister Mostafa Madbouly chaired a meeting on 16 June to review progress on implementing the government’s initial public offering (IPO) program for companies in the petroleum and public business sectors. The meeting was attended by Karim Badawi, Minister of Petroleum and Mineral Resources; Mohamed Shimi, Minister of the Public Business Sector; Hassan El-Khatib, Minister of Investment and Foreign Trade; and a number of officials from relevant bodies. At the start of the meeting, the Prime Minister stressed the government’s keen interest in the regular and continuous follow-up of the implementation of the government IPO program and the measures undertaken…