Author: Rigs & Barge World

Just as South Sudan celebrated the long-awaited resumption of its Dar Blend crude exports via Sudan’s Red Sea Bashayer terminal, attacks targeting vital infrastructure in war-torn Sudan compromised the country’s lifeline crude exports. The partial halt of flows over the past year has already cost both countries hundreds of millions of dollars in lost revenue, not to mention increased operational costs, and these latest attacks threaten an even more damaging complete halt. 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…

The Chairman of the Egyptian Drilling Company (EDC), Osama Kamel, revealed that the company drilled 200 new wells and repaired over 600 in 2024. Showcasing the company’s performance, Kamel noted that it also added two new rigs using the latest technologies in drilling and safety performance maintenance. This was reported during the company’s general assembly meeting, headed by Minister of Petroleum and Mineral Resources Karim Badawi. On the expansion front, EDC has taken serious steps to grow its business outside Egypt, targeting new markets such as India, UAE, Qatar, Oman, Turkey, Algeria, West Africa, Brazil, and Thailand. Kamel also highlighted…

Amid all the optimism surrounding US President Donald Trump’s Gulf tour and decision to lift sanctions on Syria this week (MEES, 16 May), a sense of opportunity is also growing in Syria’s western neighbor Lebanon. Marred by a devastating conflict with Israel last year and a five-year economic depression, Lebanon formed a government in January which for the first time in decades does not include Iran-backed Hezbollah. This signals a reset in its foreign relations with closer ties to the US, France, and Arab Gulf states (MEES, 17 January). (CONTINUED – 265 WORDS) Read this article for free Gain access…

Representatives of the Egyptian petroleum sector showcased the investment opportunities the sector offers together with incentives the government grants to investors in the oil and gas sector, during their  participation in the Africa Energies Summit, held last week in London. The summit is one of the most prominent global energy-related events that brings together decision-makers and executive experts in the energy sector. The summit provides a strategic opportunity to showcase investment opportunities across the African continent, with Egypt at the forefront, thanks to its rapidly evolving investment climate and progressive legislative and economic environment. The Egyptian oil and gas leaders…

The deposits in Sukari Gold mine (SGM) are expected to exceed the initial estimates as shown by recent prospecting studies, Prime Minister Mostafa Madbouly stated following his two-day field visit to the mine in Marsa Alam, Red Sea governorate. The total investment in Sukari over the past decade exceeded $2 billion, with mining equipment alone valued at $235 million, including cranes, crushers, heavy machinery, and mobile facilities, according to Madbouly. The Prime minister addressed recent controversy about whether Egypt is receiving its fair share from the mine under existing agreements, especially after the South African AngloGold Ashanti acquired Centamin, the…

Saudi Aramco is examining potential upgrades to its 400,000 b/d Samref refinery at Yanbu as part of a major overhaul of its downstream operations. The joint venture refinery is owned 50:50 with US major ExxonMobil and, having started up in 1984, is one of the kingdom’s oldest refineries. Samref processes up to 400,000 b/d of Arab Light crude and, despite being more than 40 years old, it has relatively low fuel oil yields of around 20%. Gasoline and diesel account for the bulk of the products output, alongside significant volumes of jet-kerosene (see chart). Samref was developed to export refined…

Iran, one of the largest oil exporting countries and a key player in the Organization of the Petroleum Exporting Countries (OPEC), has recently increased its oil storage capacity by adding 2 million barrels, after starting the operation of two tanks that have been upgraded at Iran’s Kharg oil terminal in the operational zone. The reconstruction of the tanks, whose capacity is 1 million barrels of oil (mmbbl) each, was completed and announced on Saturday during a visit by Hamid Bovard, CEO of the National Iranian Oil Company (NIOC) and Deputy Minister of Petroleum. Bovard stated that these tanks are expected…

Turkey has made new natural gas discovery in the Black Sea with reserves amounted to 75 billion cubic meters (bcm), Turkish Radio and Television Company (TRT) reported quoting President Recep Tayyip Erdogan. “Our work at the Goktepe-3 well (in the Black Sea), which began on March 27 with our 7th-generation drilling ship Abdulhamid Han, was completed as of yesterday,” he said. Erdogan explained that this amount of gas will enable the country to meet the residential demand  for approximately 3.5 years, noting that the economic value of the discovery estimated at $30 billion. The President affirmed the Ankara’s commitment to…

Just weeks after Libya assured potential investors it was “open for business” (MEES, 11 April), deadly clashes in the western capital are threatening the divided country’s short-lived stability. Late on 12 May, violent clashes erupted in Tripoli, where rival militia groups with various political and tribal affiliations frequently engage in turf wars (MEES, 20 December 2024), albeit on a more limited scale. (CONTINUED – 964 WORDS) 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

With summer fast approaching and with it peak electricity demand, Egypt has moved to secure more regasification capacity to enable increased LNG imports in the coming months. Currently, Egypt has just the 750mn cfd Hoegh Galleon Floating Storage and Regasification Unit (FSRU), which has been moored at Ain Sukhna since June last year. But by the time summer comes around, Egypt plans to have a total of four FSRUs operational. (CONTINUED – 1592 WORDS) 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…