Author: Rigs & Barge World
Four solar and wind energy projects were awarded qualification certificates to start selling the energy they generate to industrial projects according to the Peer-to-Peer (P2P) Mechanism for electricity generation and consumption. The four projects together have a total capacity of 400 megawatts and investments totalling $388 million. Under this system, companies will build power plants and sell the generated electricity directly to industrial consumers. They will pay fees to the Egyptian Electricity Transmission Company in return for its transmission of this energy. The government has no role in the process as it wont bear any costs and will not provide…
Media release: Pioneering marine turtle conservation project takes out top prize at energy industry awards | Australian Energy Producers Skip to content Source link
ExxonMobil announced that it has entered exclusive negotiations with the French unit of Canadian energy group North Atlantic to sell the 82.89 % stake Exxon owns in the French subsidiary Esso, according to Reuters. The sale is planned to be implemented in Q4 2025, at a price of EUR149.19 ($168.82) per share before distributions, or EUR32.83 after distributions. An Esso note stated that once the transaction is completed, North Atlantic would make a mandatory offer to buy for the remaining shares of Esso on the same financial terms as the initial offer, noting that this bid would be launched in…
Q: How would you describe OQEP’s current strategy? A: What distinguishes OQEP from other companies is our ability to attract partners, especially IOCs and independents. This didn’t come from nowhere, it comes from the culture we have built within our team to ensure that we are seen as a trusted, reliable partner with strong, local knowledge; both technical knowledge and understanding the way things are run and governed in Oman. Those relationships, our technical, commercial, and operational abilities have positioned us to be where we are today. With these strengths, we want to continue building new types of relationships which…
The recently discovered cases of gasoline contamination originated from a shipment with sulphur levels exceeding the permitted limit, said Prime Minister Mostafa Madbouly during his weekly press conference. He further explained that the inspection of imported refined gasoline and diesel is carried out by private laboratories that are not affiliated with the state. Madbouly added that President Abdel Fattah El-Sisi has directed taking legal actions, including financial penalties, against those responsible for this problem. The Minister of Petroleum, Karim Badawi, presented the President with a plan to implement a new system to avoid the recurrence of this problem in the…
OQEP, the listed upstream subsidiary of state Omani energy firm OQ, has undergone phenomenal growth over the past 15 years, with net production rising from 18,000 b/d in 2009 to around 230,000 b/d. But OQEP is not about to rest on its laurels and has ambitions to boost output further with a focus on gas to achieve a balanced portfolio. OQEP CEO Ahmed al-Azkawi sat down with MEES on the sidelines of the Oman Petroleum and Energy Show (MEES, 21 May). “We intend to go beyond our current 230,000 boe/d,” al-Azkawi says. Not only is the company taking a lead…
Eni, the Italian oil giant, has signed an exclusivity agreement with Global Infrastructure Partners (GIP), a leading global infrastructure investor. According to the agreement, Eni will be negotiating only with GIP-excluding all other competitors, on the sale of the 49.9 per cent Eni holds in Eni CCUS Holding – a leading European player in the CCUS sector (Carbon Capture, Utilization and Storage). The agreement aims to progress the confirmatory due diligence phase and complete the drafting of the documents related to the sale. Eni CCUS Holding operates Hynet and Bacton in the UK and L10 in the Netherlands. Eni stated…
Media release: Australia’s oil and gas industry welcomes Sussan Ley’s new Shadow Cabinet | Australian Energy Producers Skip to content Source link
The Minister of Petroleum and Mineral Resources Karim Badawi has inagurated an integrated operations center for TAQA, an international company focused on Energy solutions, in Egypt. This center serves as a major hub for managing the company’s activities in Egypt and is also considered a launching point for its operations in Africa, according to a statement issued by the Ministry of Petroleum and Mineral Resources on Tuesday. Through this project, TAQA is capitalizing on Egypt’s promising opportunities, logistical advantages, advanced infrastructure, and distinguished geographical location”, noted the statement. Badawi welcomed the presence of TAQA in the Egyptian energy sector, noting…
The Kurdistan Regional Government (KRG) has awarded two gas licenses to US-owned companies in a bid to revive momentum in its upstream sector. Speaking on 19 May at a signing ceremony in Washington D.C., Prime Minister Masrour Barzani stressed repeatedly that American companies were awarded the acreage in a clear bid to also firm up political support from the US in its ongoing dispute with Baghdad over the legality of the KRG’s oil and gas contracts. The first of the awards is in the form of a binding term sheet that the KRG signed with US firm HKN and Onex…