Author: Rigs & Barge World

Nuclear power is gaining momentum in the Middle East, with the UAE emerging as the region’s front-runner, surpassing Iran in both operational capacity and international engagement. Meanwhile, Saudi Arabia is laying the groundwork to launch its own civilian nuclear energy program, signaling growing ambition across the Gulf. “The world is waking up to the realities of grid security and the need for reliable, abundant, and clean electricity. If we want to lead in AI and digital infrastructure, we must lead in energy. Nuclear offers the scale, stability and speed needed to meet this moment,” the CEO of Emirates Nuclear Energy…

Sudan’s military-led government has secured a deal with Egypt to increase power supplies for its Northern State to address a 40-day power blackout caused by the ongoing fighting in the war-torn country, according to state news agency SUNA. The Northern State, just south of the border with Egypt, had been crippled by widespread blackouts for months following attacks earlier this year on the Nile River’s 1.25GW Merowe Dam hydropower station, which generates 40% of Sudan’s electricity (MEES, 24 January). The army has blamed the attacks on the rival paramilitary Rapid Support Forces (RSF) (MEES, 18 April). (CONTINUED – 178 WORDS) Read…

Aramco has kicked off its first bond sale of the year with a three-tranche dollar-denominated offering. The firm confirmed the issuance under its Global Medium Term Note Programme on 27 May. Aramco is raising $5bn through the offering, which closes on 2 June. The Saudi energy giant has made no secret that it would be returning to the debt markets again this year. Last year it completed a $3bn Sukuk in October, which followed a $6bn three-tranche bond offering in July (MEES, 4 October 2024). (CONTINUED – 283 WORDS) Read this article for free Gain access to over 60-years of…

ADNOC Distribution, in partnership with TotalEnergies Marketing Egypt (TEME), launched ADNOC Voyager lubricants across Egypt. This marks the first time ADNOC Voyager products will be available at third-party points of sale in the country. ADNOC Voyager products are currently available at select points of sale in Greater Cairo and the Nile Delta, as well as on Amazon and noon e-commerce platforms, with ambitions to reach 3,000 points of sale nationwide by the end of 2026. Selected ADNOC Voyager products are produced at a state-of-the-art TEME blending facility in Borg El Arab, contributing to Egypt’s industrial development, creating skilled job opportunities,…

Shell Egypt celebrated the conclusion of the training of 1000 entrepreneurs through its annual Itlaqaah program , in collaboration with Flat6labs, Egypt’s leading venture capital firm. This initiative is part of the flagship enterprise development global program, Shell LiveWIRE, aiming to strengthen local economies through entrepreneurship, innovation, and meaningful employment. The training took place through what is known as a transformative cycle, during which entrepreneurs are provided with practical training to identify ideas and develop businesses. This program’s cycle included more than 120 startup teams, which benefited from intensive mentorship and capacity-building initiatives. It introduced two dedicated tracks in March…

Egypt is actively expanding its natural gas infrastructure through renting three Floating, Regasification and Storage Units,(FRSU) with plans to add a fourth one soon, said Minister of Petroleum and Mineral Resources, Karim Badawi, during a press conference on Wednesday at the new Administrative Capital. Renting the FRSUs comes within the framework of the ministry’s efforts to hedge against the drop in local production, and achieve the first pillar of the ministry’s strategy related to covering citizens’ needs of petroleum products most effectively and sustainably, Badwai noted. The ministry has been intensifying efforts to enhance energy security and sustainability through different…

Egypt’s latest moves to secure long-term LNG import deals provide further evidence that Cairo sees domestic gas output remaining at low levels for the foreseeable future. Desperate for gas to stave off blackouts amid an expected temporary drop in volumes from Israel, Egypt this week reduced gas supplies to industry as part of a precarious balancing act (MEES, 23 May). Egypt’s decision to secure four Floating Storage and Regasification Units (FSRUs) for use this summer took many observers by surprise (MEES, 16 May). This followed a flurry of reports that Egypt is in talks with Arab states to supply its…

Sinopec, China’s state-owned oil and gas giant, has launched a hydrogen energy-focused venture capital fund with an initial investment of $690 million, the company said in a statement quoted by Reuters. As the largest fund in China devoted to hydrogen investment, it will focus on early-stage ventures and the development of critical materials, essential equipment, and high-potential proprietary technologies across the hydrogen value chain. The fund is a subsidiary of Sinopec Capital Co., with external partners such as Shandong New Growth Drivers Fund Management Co. and Yantai Guofeng Investment Holding Group Co., according to Reuters. Sinopec has acquired equity stakes…

During my opening remarks I noted that despite some sobering messages from our Wood Mackenzie study on Australia’s investment competitiveness, there is cause for optimism.   This week has demonstrated why.  We’ve had the welcome announcement from the Queensland Government that it’s releasing nine new areas for future gas exploration to boost future supply.  The Minister said: Queensland is open for business.   Yesterday, Minister Murray Watt announced the conditional approval of Woodside Energy’s North West Shelf extension – a critical project for Western Australia’s long-term energy security and economic growth.   I commend the Minister for backing this vital project, and being…

Kuwait is targeting 2bn cfd of non-associated natural gas production by 2040 as it seeks to prevent its LNG import bill from rising ever higher. Non-associated gas output currently stands just shy of 700mn cfd, accounting for slightly more than a third of total gas capacity of approximately 2bn cfd (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