Author: Rigs & Barge World

As temperatures soar in the East Med, electricity demand is rising. So far Egypt has been able to stave-off extensive power cuts but how long can it last with key regasification capacity yet to be increased? Cairo recognized the need for more gas and procured three additional FSRUs to enable increased LNG imports, but the first two to arrive are sitting idle as work to connect them to the gas grid is still incomplete. Egypt will likely have a gas shortfall of around 2.5bn cfd this summer – demand peaks at around 6.5bn cfd, while output is around 4bn cfd…

Prime Minister Mostafa Madbouly held a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources; and Mahmoud Esmat, Minister of Electricity and Renewable Energy, to discuss several issues, including the efforts to secure the necessary fuel for operating power plants, the executive status of new and renewable energy projects connected to the national grid, and the status of payment arrears owed to foreign partners. Badawi reviewed the status of petroleum product supplies and the efforts to secure and increase them to ensure the sustainable operation of power plants. He emphasized that the Ministry is continuously monitoring the regasification vessels…

Baker Hughes and Petronas have signed a Memorandum of Understanding (MoU) to form a strategic partnership aimed at exploring business opportunities that could contribute to advancing Asia’s energy growth and transition efforts. According to the MoU, the two companies will work together in enhancing local supply chain capabilities and assessing the potential implementation of various technology solutions. Supporting these initiatives, Baker Hughes revealed plans to broaden its current service operations in Malaysia by establishing a comprehensive aeroderivative gas turbine module repair facility. This is not the first collaboration between Baker Hughes and Petronas. The two companies have built a multi-year,…

Iraq’s ministry of oil has launched a rushed process to assess offers to lease a Floating Storage and Regasification Unit (FSRU). Deputy oil minister for gas affairs, Izzat Sabir, told MEES on the sidelines of this week’s Opec Seminar that his country aims to “reach an agreement within ten days.” Iraq’s cabinet on 8 July reaffirmed its commitment to signing a contract. This comes after offers were received from a handful of companies in late-June, after Iraq opened up the process beyond its favored-provider; the Iraqi-owned, UAE-registered Breeze Investments (MEES, 6 June). Breeze has been the preferred option for Baghdad…

The African Energy Chamber (AEC), representing the continent’s energy sector, called on OPEC member countries and their partners to take bold steps to overturn global restrictions on fossil fuel financing. This came during the opening of the 9th OPEC International Seminar held in Vienna where the Chamber emphasized the urgent need to restore upstream investment and challenge policies that withhold critical funding from African nations. “Africa has borne the brunt of contradictory global energy policies. While developed nations continue to fast-track public and private investments into natural gas to bolster their own energy security, multilateral institutions enforce blanket bans on…

Canadian miner Aton Resources has reported drilling results showing gold grades of 33.86 grams per ton (g/t) and silver grades of 419 g/t at the Abu Marawat deposit, part of its retained exploration areas within the Abu Marawat concession in Egypt’s Eastern Desert. The drilling results also confirmed grades of 44.59 g/t of gold and 103 g/t of silver from another intersection. These findings indicate rich concentrations and promising mineral extensions within the deeper geological formations, stated the Ministry of Petroleum and Mineral Resources. The company has completed 113 drill holes that totalled 9,642 meters on undrilled surface zones with…

The owners of Saudi Arabia’s National Industrial Gases Company are considering an IPO. In separate announcements on the Tadawul stock exchange, Sabic (74% stake) and National Gas and Industrialization Company (9%) announced that they are evaluating a potential IPO of the firm, which is the sole supplier of nitrogen and oxygen to Sabic’s domestic operations. Sabic says that the potential IPO is “in line with Sabic’s priorities of optimizing its portfolio and focusing on its core business.” (CONTINUED – 328 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details…

United Energy Egypt (UEE) hosted the second edition of the Women in Influence (WII) event on June 25, at its headquarters, in collaboration with Carerha, an EdTech female-focused platform that empowers women economically and fosters inclusive workplaces. The gathering brought together pioneering women and dedicated allies from the energy sector and other traditionally male-dominated industries, reaffirming UEE’s ongoing commitment to inclusive leadership, gender equality, and the advancement of women across all career stages. The event began with opening remarks from Yasmin Ali, the driving force behind the WII Network at UEE, who highlighted the company’s commitment to building a workplace…

Egypt’s installed wind capacity broke the 3GW mark in June after French firm Engie announced “the full commissioning” of its 650MW Red Sea Wind Energy project in Ras Gharib on the Gulf of Suez, boasting that it “is the largest operational wind farm in the Middle East and Africa.” “Initially scheduled for the third quarter of 2025, the connection to the grid of the wind farm’s entire 650 MW of installed capacity was thus completed in June 2025,” Engie said on 1 July. (CONTINUED – 602 WORDS) Read this article for free Gain access to over 60-years of energy analysis…

During the 9th International Seminar hosted by the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Minister of Petroleum and Mineral Resources Karim Badawi delivered a keynote address at the ministerial session titled “Pathways to a Resilient Energy Landscape.” Badawi underscored energy’s vital role in economic growth, emphasizing Egypt’s balanced strategy for an optimal energy mix. He detailed the approach, which includes boosting oil and gas production, reducing emissions and carbon intensity, and expanding renewable energy and hydrogen use to ensure a sustainable and secure energy future. The session included senior officials from Venezuela, Equatorial Guinea, Azerbaijan, Canada, Senegal,…