Author: Rigs & Barge World
Norwegian renewables developer Scatec has begun construction of its 1.1GW ‘Obelisk’ solar project, which also includes 100MW/200MWh of battery storage in southern Egypt, the firm announced on 5 May. “We are proud to break ground on Egypt’s first hybrid solar and battery project, building on our proven track record with similar developments,” Scatec CEO Terje Pilskog says. (CONTINUED – 243 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
1: Weekly Middle East* Crude Exports: Volumes Decrease Despite Opec+ Easing Production Cuts (mn b/d) 2: IFAD Murban, GME Oman Both Flip Into Contango At The Turn Of The Year, Signalling Oversupply And Incentivizing Stockbuilds ($/B) 3: Dubai Crude M1 Vs M3 Spread ($/b): Structure Weakening, But Continues To Signal Near-Term Undersupply 4: Brent Dubai EFS ($/B): Brent Strengthening Against Dubai As Opec+ Unwinds Cuts, Boosting Supply Of Middle East Crudes Source link
In December 1975, when Ilich Ramírez Sánchez, aka Carlos the Jackal, and an armed group attacked Opec headquarters in Vienna and took dozens of ministers and delegates hostage, one man kept his cool. His name was Abdul Samad al-Awadhi, a member of the Kuwaiti delegation and a former head of the Kuwait Petroleum Corporation’s (KPC) Europe operations. He died in London last week. On 21 December, Carlos and five men armed with guns and explosives forced their way into the Opec building and took 60 people hostage after killing an Austrian policeman, an Iraqi security guard and a Libyan delegate.…
ADNOC Gas plc, one of the affiliated companies of the Abu Dhabi National Oil Company (ADNOC) and a world-class integrated gas processing and sales company, announced that it achieved increase in its net income by 7% Year on Year (YoY) after reaching $1.27 billion during Q1 2025 compared to $1.187 billion in Q1 2024. According to the company’s financial results, it recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of $2.16 billion during Q1 2025, up 4% from $2.076 billion in the same period last year. ADNOC Gas attributed its strong performance to sustained domestic gas demand, higher than…
The Ministry of Petroleum and Mineral Resources (MoPMR) affirms its commitment to taking all necessary regulatory measures and conducting all needed examinations to verify the quality of petroleum products and ensure their conformity with Egyptian standard specifications, according to a statement released by the ministry on Wednesday. The statement is the ministry’s second addressing the claims spread on social media about the poor quality of gasoline products in circulation. The MoPMR stressed that it is looking into complaints received on its hotline 16528) , noting that they are being investigated, and samples are being taken from the fuelling stations mentioned…
ADNOC Distribution, one of Abu Dhabi National Oil Company (ADNOC) subsidiaries and the UAE’s largest fuel and convenience retailer, reported a growth in its net profit by 16%, to reach $174 million during Q1 2025, compared to $150 million during Q1 2024. The Company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $275 million in Q1 2025, up 11% year-on-year (YoY) which amounted to $248 million. These strong results reflect growth in both fuel and non-fuel segments, driven by the Company’s focus on sustainable growth and cost efficiencies, the company said. ADNOC Distribution added 20 new service stations in…
The Egyptian General Petroleum Corporation (EGPC) approved the consolidation of eight of Capricorn’s existing Egyptian concession agreements into a single integrated agreement to be ratified by the Egyptian Parliament in 2025. The concessions, in which Capricorn together with Cheiron Oil and Gas Limited hold a 50% stake, are the Badr El Din (BED), Obaiyed, North Alam El Shawish, North Matruh, Sitra, BED 3, and BED 2 and BED 17 development concessions, along with the North Um Baraka exploration concession. The new integrated agreement will provide up to a 20-year life through an initial 10-year term, followed by two five-year extensions…
Harbour Energy operational results showed a 190% increase in its production volumes, reaching 500,000 barrels of oil equivalent per day (boe/d) during the first quarter (Q1) of 2025. The production was split into 40% liquids, 40% European natural gas, and 20% non-European natural gas. The company, a major player in the oil and gas industry with a wide presence across the world, has added new wells in the UK, Argentina, Egypt and Germany, according to the company’s website. Furthermore, it reported a 90% production efficiency. The company stated that the costs of operations in Q1 2025 were 30% lower than…
Algiers is close to wrapping up its first bid round since 2014. It hopes to attract some of the largest international players, including pos… Source link
Nigeria’s oil regulator stated that ExxonMobil will invest $1.5 billion in developing its deepwater operations in the country, Reuters reported. The company will pump this amount of money, during the period between the second quarter (Q2) 2025 through 2027, in developing the Usan deepwater oilfield, located on the key offshore block OML 138 in the eastern Niger Delta. According to Reuters, ExxonMobil is expected to reach the final investment decision (FID) on the Usan project in late Q3 2025 as the project is pending approval from the Field Development Plan and the securing of necessary internal and partner funding. …