Author: Rigs & Barge World

Minister of Petroleum and Mineral resources, Karim Badawi conducted a field visit at Alexandria Port to oversee the preparations plan for the US regasification unit Energos Power to be docked at Ain Sokhna Port. This comes as part of ongoing field follow-ups and intensified preparations by the Ministry of Petroleum and Mineral Resources to ensure full readiness of the petroleum sector’s infrastructure to meet the rising demand for natural gas, especially from power stations and critical sectors during the summer months. During the visit, Minister Badawi reviewed the progress of technical work and necessary modifications on the vessel, which had…

Adnoc Logistics and Shipping (Adnoc L&S) and Abu Dhabi petrochemicals firm Borouge announced on 11 June a $531mn 15-year agreement in which the logistics firm will manage the petrochemical firm’s export operations. According to Adnoc L&S it will take on the port management, container handling, and provide at least two container ships to support the transfer of petrochemicals from the Borouge Container Terminal at Ruwais to Jebel Ali in Dubai and Khalifa Port in Abu Dhabi (see map p7). The firm says it will manage up to 70% of Borouge’s annual production, which currently sits above its 5mn t/y nameplate…

Dubai has revised up its clean energy capacity targets for 2030 from 5GW to 7.5GW, 34% of planned 22GW total capacity, according to the Dubai Electricity and Water Authority (Dewa). Originally, Dewa planned for clean energy — currently comprising solar and waste-to-energy power — to make up 25% of generation capacity by the end of the decade. The lion’s share of this comes from the Mohammed Bin Rashid (MBR) Solar Park (see map), where the 2030 capacity target has been raised to 7.26GW. The first five MBR phases have been completed, and 800MW of the under-construction 1.8GW Phase 6 (Dewa…

The BP rumor mill keeps spinning, with Bloomberg reporting this week that Abu Dhabi state energy giant Adnoc is interested in snapping up segments of the beleaguered UK firm. Reports of potential wholesale acquisitions for the firm have been frequent, but the list of viable suitors is thin and few compelling arguments have been made; suggestions that the firm could be carved up shouldn’t be ignored. It has been suggested that Adnoc’s international subsidiary XRG is especially interested in BP’s gas and LNG assets, as well as its fuel retail business. No surprise there. XRG is aggressively expanding into international…

1: Qatar Records $150mn Deficit In Q1, The First Since 2021 ($bn) 2: Falling Benchmark Oil Prices Has Squeezed Qatari Government Revenues ($bn) 3: The World Is Set To Add Over 200mn t/y Of LNG Capacity* By The End Of The Decade (mn t/y) Source link

In response to Israeli strikes on nuclear targets in Iran, which have heightened political tension in the region, the Ministry of Petroleum and Mineral Resources (MoPMR) has activated a pre-prepared emergency plan to prioritize natural gas allocations This plan includes halting natural gas supplies to some industries, increasing diesel consumption by power plants to the maximum level and coordinating the operation of some stations to run on diesel, according to a statement by the MoPMR. According to Reuters, some Egyptian Fertilizer companies had to stop production on Friday due to the expected drop in natural gas supplies after major Israeli…

Prime Minister Mostafa Madbouli held a meeting on Friday afternoon to review the government’s plan to secure the country’s needs of oil and natural gas following the Israeli military operation in Iran. The meeting was attended by Hassan Abdallah, Governor of the Central Bank of Egypt, Mahmoud Esmat, Minister of Electricity and Renewable Energy, and  Karim Badawi, Minister of Petroleum and Mineral Resources. During the meeting, the Minister of Electricity and Renewable Energy, Mahmoud Esmat, indicated that there is full coordination with the Ministry of Petroleum and Mineral Resources regarding supplying power plants with the quantities of gas or diesel…

Turkey is emerging as Iraq’s largest foreign supplier of electricity as Baghdad has turned to its northern neighbor to help replace lost energy supplies from Iran this summer. Iraq’s electricity ministry signed a new “electricity exchange contract” with Turkish trader Alfirin Enerji Ticaret on 4 June to double imports to 600MW. On the same day, the cabinet approved plans to contract 650MW of floating power plant capacity from Turkish firm Karpowership. In total, this brings ‘Turkish’ supplies up to 1.25GW, equivalent to the 1.2GW capacity interconnectors from Iran. Iranian electricity flows have been suspended since the US banned Iraq from…

ExxonMobil Corporation and the State Oil Company of the Republic of Azerbaijan (SOCAR) signed a Memorandum of Understanding (MoU) to partner on enhancing Azerbaijan’s oil and gas resources. SOCAR President Rovshan Najaf and ExxonMobil Vice President John Ardill signed the agreement. The agreement outlines plans to deepen collaboration in exploration, production, and energy innovation. “We’re very pleased about this partnership. It is a significant first step in further developing Azerbaijan’s resources, driving energy innovation, and increasing a reliable energy supply,” ExxonMobil said in a statement. “Azerbaijan has a long history in hydrocarbon development and exciting potential in unconventionals,” said ExxonMobil’s…

Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d). Khalda completed drilling operations for the Fox Deep-02 appraisal well. Results from the well indicate the presence of oil-bearing layers in both the Alam El Bueib and Alamein reservoirs, with the oil-bearing layer reaching a thickness of 110 feet. Initial test results from the Alam El Bueib layer showed a production rate of approximately 2,600 bbl/d of crude oil. Technical…