Author: Rigs & Barge World
As part of efforts to enhance Egypt’s role as a regional energy hub, Minister of Petroleum and Mineral Resources, Karim Badawi, participated in the ‘Future of Energy Security Summit’ in London, where he was invited by the International Energy Agency (IEA) and the UK Government. The Minister outlined Egypt’s strategy to diversify its energy mix, increasing reliance on renewables to 42% by 2030, attracting investments, and strengthening regional cooperation to secure energy supplies, including gas linkage agreements with Cyprus, Greece, and Italy. Badawi emphasized the need for a fair and realistic approach to energy transition that considers each country’s unique…
The global economy faces an unprecedented level of market complexity and fluidity, the IMF says in its World Economic Outlook (WEO) update this week, warning that “extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity.” As a result, the IMF downgraded its global economic growth expectations for 2025 by 0.5 percentage points to 2.8% and by 0.3 percentage points to 3.0% for 2026. Speaking at the WEO release on 22 April, IMF Chief Economist Pierre-Olivier Gourinchas said “we’re entering a new era as the global economic system that has operated for the…
The Ministry of Petroleum and Mineral Resources (MoPMR) is announcing an extension of the closing date for the current opportunities, which includes 13 blocks (seven undeveloped discoveries and six exploration blocks). The new closing date is set for July 2, 2025, at 12:00 PM CLT, in response to requests from interested companies due to the Spring and Eid holidays, according to the Egypt Upstream Gateway (EUG). Source link
19/02/2024 The Norwegian Offshore Directorate has published a new Appendix 4 to the Guidelines for the Measurement Regulations. The Norwegian Offshore Directorate has published a new Appendix 4 to the Guidelines for the Measurement Regulations. This Appendix is a spreadsheet that can be used to submit an uncertainty budget for CO2 tax measurements to the Norwegian Offshore Directorate pursuant to Section 96 of the Measurement Regulations. The spreadsheet has been prepared in collaboration with the industry. An uncertainty budget for CO2 tax measurements must be submitted to the Norwegian Offshore Directorate on an…
Dragon Oil concluded its participation at GOTECH 2025 with signing key strategic agreements and memoranda of understanding (MoUs), reinforcing its global expansion and leadership in the energy sector. The company successfully wrapped up its participation at GOTECH 2025 by signing a series of strategic MoUs with prominent international partners. These agreements mark significant progress in the company’s efforts to expand globally and drive innovation within the energy industry. The signed agreements include a collaboration with Business Oil Africa to develop oil and gas assets in GabonThe award of a new concession agreement with the Egyptian General Petroleum Corporation (EGPC) for the East…
20/02/2024 The Resource Accounts for 2023 show an increase in the volume of reserves and contingent resources. The overall petroleum resources have been reduced somewhat. The volume of undiscovered resources has been reduced, primarily in unopened areas in the Barents Sea. Areas opened for petroleum activities have seen a minor reduction, which is offset by exploration results in 2023. Estimates for the overall resource volumes (including volumes sold and delivered) on the Norwegian shelf amount to 15,575 million Sm³ of oil equivalent (o.e.), which means a minimal reduction of 191 million Sm³ of…
Egyptian Prime Minister Mostafa Madbouly confidently stated at his weekly press conference on 10 April that “there will be no electricity load shedding in the summer of 2025,” with the pledge echoed by cabinet spokesman Mohamed al-Homsani. “Despite the financial costs, the state is committed to securing all necessary funding to ensure uninterrupted power supply,” he says. (CONTINUED – 805 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
Dragon Oil Egypt Holdings (DOHL) signed a Memorandum of Understanding (MoU) with the Egyptian General Petroleum Corporation (EGPC) to consolidate existing concession agreements in the Gulf of Suez under a unified framework. The agreement was signed in the presence of Saeed Mohammed Al Tayer, Chairman of Dragon Oil, and Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources. The MoU was Signed by Salah Abdel Kareem, CEO of EGPC, and Ali Rashid Al Jarwan, CEO of DO, the agreement underscores Dragon Oil’s commitment to digital transformation, regional energy development and operational excellence. It marks a pivotal move towards consolidating concession…
This year’s award features a new design. 22/02/2024 For the twentieth time, companies are invited to nominate candidates for what will now be known as the Improved Recovery Award. Nominate your candidate The deadline for nominations is 15 April. The award will be presented during ONS in August. “We encourage the companies, academia and others to nominate innovative work for the Improved Recovery Award 2024”, says Anders Soltvedt, head of the jury and discipline coordinator, reservoir technology in the Norwegian Offshore Directorate. He adds that “improved recovery from the fields is more important than…
Kuwait has begun the long-planned merger of its two domestic state-owned refining companies. The move will see KPC’s Kipic and KNPC subsidiaries form a single entity which will operate the emirate’s 1.42mn b/d refining capacity as well as 3.12mn b/d gas processing capacity and the 22mn t/y Al Zour LNG import terminal. The latter and the 615,000 b/d Al Zour refinery are operated by Kipic, which was hived off from KNPC in 2016. In a 15 April letter reported by state agency Kuna, Wadha al-Khateeb who has been CEO of both firms since last year, said that the merger will…