Author: Rigs & Barge World

Investors and mining executives on the second day of the Egypt Mining Forum said that recent government reforms are improving the country’s appeal as a mining destination, citing a better risk-reward balance and increasing openness to foreign investment. Speaking at one of the panel discussions on the second day of the forum, Mostafa Talaat, CEO of Egypt-based junior exploration firm ANKH Resources, praised the Cabinet’s efforts to foster transparency and open dialogue, saying these measures are encouraging companies to grow. “Transparency, an open dialogue, and global calls for investment, along with a spirit of working hand in hand, are all…

Italy’s Eni has signed a contract with Algerian state firm Sonatrach to explore for hydrocarbons in the Zemoul El Kbar contractual perimeter in the Berkine Basin, with an overall investment of $1.35bn, both firms announced on 7 July. The announcement followed a meeting in Algiers between Eni’s CEO Claudio Descalzi and Algerian President Abdelmadjid Tebboune, as well as oil minister Mohamed Arkab and Sonatrach chief Rachid Hachichi. (CONTINUED – 660 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…

Opec+ producers look set to complete the unwinding of 2.2mn b/d of voluntary production cuts in September after agreeing to accelerate the process again over the weekend. The Opec+ ‘Group of Eight’ shocked markets in April when it first started accelerating the tapering in the face of economic headwinds, but its gambit appears to be paying off with prices proving resilient despite increased production (MEES, 4 April). “The market needs to trust us,” says one Opec official, “in Q4 2024 they said that we couldn’t bring 2.2mn b/d back, but now look at the situation.” Absent a surprise decision to…

The Egypt Mining Forum has kicked off in its fourth edition at the Nile Ritz-Carlton hotel in Cairo on July 15.  The two-day event is held under the theme ‘Accelerating Commercial Exploration, Discovery and Extraction and Achieving Value Added from Raw Materials’, to highlight Egypt’s vast mining potential and promise investment opportunities in the exploration, search, and extraction of gold and minerals, as well as the manufacturing of mineral raw materials, according to a statement by the ministry of petroleum and Mineral Resources. “Egypt is open to all forms of investment. We stand ready to allocate additional areas for exploration…

During the opening ceremony of Egypt Mining Forum, Egypt signed two agreements with leading international gold mining companies to develop the mining sector in line with Egypt Vision 2030. Chairman of the Mineral Resources and Mining Industries Authority (MRMIA), Yasser Ramadan, has signed an exploration license agreement for gold and associated minerals with Mohamed Kamal, Chairman of Centamin PLC Central Mining, a subsidiary of AngloGold Ashanti. Moreover, Chairman yasser Ramadan and Head of Central Administration for Legal Affairs at the Ministry, Mohamed El Bagoury have signed a framework agreement with Henry Onslow, Exploration Manager at Barrick Mining Corporation. Following the…

Houthi attacks on shipping in the Red Sea have returned with a vengeance over the past week. The group attacked and sunk both the Greek-owned bulk carriers Magic Seas (IMO: 9736169) and Eternity C (IMO: 9588249), killing at least three sailors and taking multiple hostages in their first attacks in the Red Sea since December. It comes on the back of a fragile truce agreed between their ally Iran, the US, and Israel following 12 days of warfare (MEES, 27 June) and despite ongoing negotiations in Doha for a possible ceasefire between Israel and Hamas in Gaza. (CONTINUED – 1637…

During the fourth edition of the Egypt Mining Forum (EMF), Minister of Petroleum and Mineral Resources Karim Badawi presented recognition awards to the key partners supporting Egypt’s mining sector in its ongoing reform journey. Badawi delivered his recognition to Mahmoud Fawzi, Minister of Parliamentary and Legal Affairs; Ahmed Kouchouk, Minister of Finance, on behalf of whom the award was received by Vice Minister El-Kilany; and Yasmin Fouad, Minister of Environment. Additionally, Hanan Magdy, Deputy Governor of New Valley, received recognition on behalf of Governor of the New Valley, Mohamed El-Zamlout. Badawi further delivered his recognition to Mohamed El Sallab, Chairman…

The Egyptian Ethylene and Derivatives Company (ETHYDCO) completed a comprehensive carbon footprint study for all its operations. The study was carried out by the company’s General Department of Environmental Protection, in cooperation with the Petroleum Safety and Environmental Services Company (PetroSafe) and Integral. A carbon footprint is the quantity of greenhouse gases (GHGs) emitted as a result of certain industrial activities. These emissions are divided into three scopes: direct emissions resulting from combustion within the facility or from material leaks; indirect emissions from the consumption of purchased electricity; and indirect emissions across supply chains, such as transportation, business travel, the…

Opec has revised up its long-term oil demand outlook by nearly 3mn b/d, citing a series of policy U-turns in advanced economies which are slowing down the shift away from oil and gas. The group expects oil demand to continue growing out to at least 2050; “there is no peak oil demand on the horizon,” it emphasizes. In an address which set the tone for much of the discussions that would follow, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al Saud told the first day of this week’s 9th Opec Seminar in Vienna that “it is encouraging to see…

bp, a major international oil company, posted higher expectations for upstream production during Q2 2025 compared to Q1 2025. The company projects higher oil production and operations primarily in bpx Energy, while slightly higher in gas and low carbon energy. Meanwhile, bp noted that revenues from the gas and low-carbon energy segment are expected to be impacted by $0.1 to $0.3 billion, including effects from changes in non-Henry Hub natural gas benchmark prices. Furthermore, the company stated that the performance of the gas marketing and trading segment is anticipated to be in line with typical levels. In the oil production…