Author: Rigs & Barge World
Media release: Australian oil and gas sector congratulates Opposition Leader Sussan Ley | Australian Energy Producers Skip to content Source link
Oman’s Sultan Haitham Al Said visited Algiers on an official state visit between 4-5 May, leading a delegation including deputy prime minister for defence affairs Shihab Al Said and foreign minister Badr al-Busaidi. The visit comes less than six months after Algeria’s President Abdelmadjid Tebboune visited Muscat over 28-30 October. As part of the visit, Oman’s sovereign wealth fund Oman Investment Authority (OIA) and Algeria’s finance ministry signed a preliminary agreement to establish a joint investment fund worth more than OMR 115mn ($299mn). According to OIA, the fund will target investments in mining, pharmaceuticals, and food security. (CONTINUED – 783…
Khalda Petroleum, Belayim Petroleum Company (Petrobel), and the Gulf of Suez Petroleum Company (GUPCO) have made three new oil and gas discoveries in their concession areas in the Western Desert and the Gulf of Suez. Khalda Petroleum succeeded in making the South NUT-1 discovery in the Western Desert. Electrical logs confirmed the presence of gas shows with a net thickness of 253 feet. The expected reserve to be added before drilling the well was estimated at about 12.5 million barrels of oil equivalent (mmboe). Work is currently underway to measure pressures, and the well will be tested and evaluated as soon…
Media release: NT Budget reinforces critical role of gas in Territory’s economic growth | Australian Energy Producers Skip to content Source link
The Egyptian International Gas Technology Company (GASTEC), an EGAS affiliate, signed a cooperation agreement with Novartis Egypt for Pharmaceuticals to supply biogas to the latter’s factory in Cairo. This is within the framework of the fourth and fifth pillars of the Ministry of Petroleum and Mineral Resources’ (MoPMR) strategy, which are focused on diversifying sustainable energy sources, promoting environmental sustainability, and reducing emissions. The supply will be carried out through GASTEC’s advanced truck-transported compressed natural gas system. The agreement was signed by Abdelfattah Farahat, GASTEC Chairman and Managing Director, and Islam Anwar, Head of Technical Operations at Novartis Egypt. Farahat…
In the latest in a long line of White House statements which have taken the world by surprise, US President Donald Trump this week said that Yemen’s Houthis had “capitulated” and that as a result “we will stop the bombings.” The 6 May announcement came just a week before President Trump is due to visit the GCC and will have been well received in capitals there, although it will have caused consternation in Israel which is engaged in an increasingly fierce conflict with the Houthis. The agreement was mediated by Oman, and in a 6 May statement, the Omani Foreign…
Australia’s oil and gas industry looks forward to working with Prime Minister Anthony Albanese’s new Ministry to progress necessary reforms for Australia’s long-term energy security and economic growth. Australian Energy Producers Chief Executive Samantha McCulloch welcomed the re-appointment of Minister for Resources and Northern Australia Madeleine King. “Minister King understands the critical and long-term role of natural gas in our energy mix and the importance of a strong and sustainable gas industry for Australia. We welcome the opportunity to continue to work with Minister King on the implementation of the Future Gas Strategy” Ms McCulloch said. “An urgent priority must…
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Saad Sherida Al-Kaabi, Qatari Minister of State for Energy Affairs, Deputy Chairman and President and CEO of Qatar Energy, in Doha today to discuss and explore cooperation and joint investments in the energy sector. The meeting addressed means to accelerate the launching of joint natural gas projects and the signing of long-term contracts according to which Qatar, the owner of the third largest gas reserves in the world, will supply Egypt with natural gas to help in covering the local demand, which usually increases in summer months. They further discussed…
Fresh off the back of a year of record profits, Adnoc Gas has put itself in position for another record breaking year with Q1 profits up 7% year-on-year to $1.27bn. The gains were largely driven by an increase in domestic gas sales, coupled with a flexible approach to LNG sales which enabled the firm to capitalize on a strong LNG spot market. “The growth is across the board,” Adnoc Gas CFO Peter van Driel told the firm’s 6 May earnings call. The firm has three core revenue generating areas which all experienced strong quarters; selling gas into the domestic market;…
Egypt has set a plan to convert 220,000 cars to run on natural gas over three years, starting with 50,000 in fiscal year 2025/2026, according to a statement by the cabinet on Monday. Revealing the plan came during a meeting of Prime Minister Mostafa Madbouly with Minister of Finance Ahmed Kouchouk, Minister of Petroleum and Mineral Resources, Karim Badawi and Central Bank Deputy Governor Essam Omar, to follow up on the government’s efforts to convert cars to run on natural gas. Madbouly directed officials to encourage more citizens to join the initiative by introducing more incentives, stressing that conversion to natural…