Author: Rigs & Barge World
As part of its $20 billion divestment program, bp is exiting the Netherlands’ retail market through an agreement to sell its Mobility & Convenience and bp pulse operations there to Catom. According to the company’s statement, the transaction, pending regulatory approval, is expected to close by the end of 2025. This move aligns with bp’s strategy to streamline and upgrade its downstream portfolio, concentrating on core integrated operations. The deal covers approximately 300 bp-owned or branded service stations, some of which feature electric vehicle (EV) charging facilities, 15 active bp pulse EV charging hubs and eight more under development. It…
The Minister of Petroleum and Mineral Resources Karim Badawi met on Monday with the Minister of Electricity and Renewable Energy, Mahmoud Esmat, to discuss and review the work plan in light of developments and ongoing preparations to meet the rising demand for energy amid soaring temperatures. The meeting reviewed indicators showing increased energy demand compared to peak loads from the previous year. To address the issue, both ministries are operating within the framework of the national energy strategy to stabilize the electric grid during peak hours, particularly through joint working committees tasked with ensuring interrupted fuel supply to power generation…
Long term testing at Adnoc’s Ruwais Diyab unconventional gas asset is approaching its conclusion, with a potential FID next year. Elsewhere,… Source link
First Undersecretary for Energy Efficiency, Climate, and Safety at the Ministry of Petroleum and Mineral Resources, Alaa El Batal, held a meeting with a high-level delegation from the European Bank for Reconstruction and Development (EBRD), led by Gianpiero Nacci, Managing Director for Climate Strategy and Delivery, and Mark Davis, Managing Director for the Southern and Eastern Mediterranean (SEMED) region. The meeting focused on strengthening cooperation and supporting joint efforts to improve energy efficiency, reduce emissions, and advance the energy transition. During the meeting, El Batal praised the partnership between the Ministry and EBRD. He stated that EBRD is one of…
Crude oil exports from the Gulf states soared to a two-year high of 17.61mn b/d in June, counter to speculation that the 12-day Israel-Iran conflict might disrupt exports (MEES, 20 June). This was the highest monthly figure since June 2023, according to Kpler; the last month before Saudi Arabia implemented its 1mn b/d ‘lollipop’ cuts which ultimately laid the foundations for the 2.2mn b/d of voluntary cuts by eight Opec+ producers (MEES, 9 June 2023). The Group of Eight began tapering those cuts in April, and has accelerated the process since May; a total of 959,000 b/d of the cuts…
The Gulf of Suez Petroleum Company (GUPCO) held three training courses, which saw the participation of 51 trainees out of a total of 190 targeted by the program. These courses are part of a comprehensive training plan aimed at raising employee’s efficiency and enhancing their practical and theoretical capabilities. The training program used the application of Human and Organizational Performance (HOP) concepts, which focus on designing organizational systems characterized by flexibility and the ability to accommodate human errors. The courses come in the context of leveraging the existing partnership between the Egyptian General Petroleum Corporation (EGPC) and Baker Hughes to…
bp signed a Memorandum of Understanding (MoU) with Libya’s National Oil Corporation (NOC) to evaluate redevelopment opportunities in the mature giant Sarir and Messla oilfields in Libya’s Sirte basin. Under the MoU, bp will also explore the exploration potential of adjacent areas and examine the wider unconventional oil and gas potential within the country. The work scope of bp is to assess a range of technical data and, along with NOC, evaluate the presented opportunities to determine the feasibility of future development and exploration programs. “This agreement reflects our strong interest in deepening our partnership with NOC and supporting the…
The US continues to drive global LNG supply growth, with volumes primarily heading to Europe. For the first half of the year big Asian buyer… Source link
Through leading a consortium, ExxonMobil discovered a reservoir of natural gas at a prospect off the island’s coast, Reuters reported, citing Konstantinos Letymbiotis, the spokesperson of the Cypriot government. He explained that drilling operations revealed a 350-meter reservoir of natural gas at a depth of 1.9 kilometers in the Pegasus-1 well. Letymbiotis highlighted that this marks the second gas discovery in Block 10 by partners ExxonMobil and QatarEnergy, following the Glaucus-1 find announced in February 2019. He added that additional evaluation will be needed in the coming months to fully assess the findings. Earlier in 2025, drilling at Electra-1 confirmed…
Petroleum Marine Services (PMS) has been awarded the execution contract for Phase Four development of the Kamose offshore gas field in North Sinai. The scope of work includes the installation of three new offshore production platforms: Hoor, KDE-1, and Snefru. PMS will also deploy three 8-inch-wide offshore pipelines to link the new platforms to the existing production network, ensuring full connectivity to the company’s main offshore pipelines and integration with the floating production unit (MOPU). This aims to accelerate commissioning process and increase output from the Kamose natural gas field, the Ministry of Petroleum said on Tuesday. This phase builds…