Author: Rigs & Barge World

  Minister of Petroleum and Mineral Resources, Karim Badawi, met with shareholders of Abu Tartour for Phosphoric Acid Company (AT-PHOS) to review the progress and latest developments in the phosphoric acid production project at the Abu Tartour phosphate mine in the New Valley Governorate, Western Desert. During the meeting, the minister highlighted the importance of the project, which aims to enhance the added value of mineral ores by using it in local production rather than exporting them as raw material. Badawi noted the project represents a prominent model of integration between the government and private sector in implementing industrial and…

Since its launch in late 2024, Adnoc’s international subsidiary XRG has been making waves (MEES, 6 December 2024). The $80bn firm was established with three core strategic platforms – Global Chemicals, International Gas, and Low Carbon Energies – but has now switched out the latter for a new ‘Energy Solutions’ platform. The move came during XRG’s 3 June Board of Directors meeting, where the Board “endorsed the company’s five-year business plan for 2025–2030, reaffirming its commitment to accelerated growth and long-term value creation.” (CONTINUED – 881 WORDS) Read this article for free Gain access to over 60-years of energy analysis…

Petrofac, a leading international service provider to the energy industry, has been awarded an Engineering, Procurement and Construction Management Services (EPCM) contract by ADNOC Gas to expand gas production facilities on Das Island. The project is valued at $1.2 billion. The contract includes providing procurement and construction services to build a new inlet facility, and two new gas dehydration and compression trains, each with a capacity of 420 million standard cubic feet per day (mmscf/d), and related infrastructure. According to the contract, Petrofac will also upgrade existing facilities to increase the site’s capacity for collecting and transporting raw natural gas.…

Iraq is facing acute gas shortages this year, as a significant reduction in Iranian inflows in late-May has removed a key plank of its supply strategy. This leaves it reliant on its insufficient domestic gas feedstock, topped up with oil burn in order to keep power plants operational. Improving power provision is a key priority for the government, with the oil ministry tasked with boosting gas supply. Sitting down with MEES in London a day after speaking at the Iraq Britain Business Council’s Spring Conference on 3 June, Oil Minister Hayan Abdulghani expressed confidence that Iraq will be able to…

The Ministry of Petroleum and Mineral Resources(MoPMR)  has revealed a number of initiatives to support the family of Khaled Shawki, the oil truck driver who lost his life last week. Shawki opted to drive his burning truck away from a gas station, sacrificing his life to save those present at the scene. Minister of Petroleum and Mineral Resources,  Karim Badawi, directed the provision of two job opportunities within Egypt’s petroleum sector for two members of Shawki’s family. Furthermore, a cooperation protocol was signed between the Ministry of Petroleum and Mineral Resources and the Al-Orman Association, according to which the monthly…

Global oil demand will continue rising in the next 25 years to reach 120 million barrels per day, which is 24 per cent higher than its current level, according to Haitham El-Ghais, the secretary-general of the Organization of Petroleum Exporting Countries (OPEC). “Oil will remain an integral part of the energy mix at around 30% still in 2050,” El Ghais said on Tuesday at the Global Energy Show in Canada. He nwarned that failing to invest enough capital to meet projected demand growth risks undermining energy security and causing volatility for both producers and consumers, according to Reuters. He noted…

The Port of Hamriyah in the UAE, an important distillate storage hub, suffered devastating fires on 31 May which caused significant damage to at least three of the port’s main terminals. The fire broke out early Saturday morning, with some sources alleging a tanker truck as the cause. The explosion engulfed the 101,920 m3 (641,060 barrel) Greenol Terminal with dramatic videos of multiple storage tanks in flames circulating on social media. Satellite imagery shows substantial damage. With Hamriyah’s relatively small, independent tank farms clustered in close proximity, the neighboring terminals of Asia Petrochem (50,000 m3) and Verasco (170,000 m3, 1.07mn…

Nigeria and Saudi Arabia’s state oil giant, Aramco, are facing challenges in finalising a landmark $5 billion oil-backed loan, according to Reuters. The falling crude prices have raised concerns among banks expected to support the arrangement. Oil-backed loans allow a company or a country to acquire a loan in exchange for future oil production or returns. The deal would represent Nigeria’s largest oil-backed loan to date and mark Aramco’s most significant financial involvement in the country.Aramaco is expected to be the lead financier of the loan, together with Gulf banks. However, sources indicated that the recent drop in oil prices…

Iraq is optimistic that last week’s decision by Opec+ to re-launch a postponed capacity assessment process later this year will enable it to secure a higher quota in 2027. Speaking to MEES this week, oil minister Hayan Abdulghani says “there is traction within Opec+ to re-assess members’ quotas,” adding that Iraq’s nominal crude oil production capacity currently stands “at more than 5mn b/d.” This figure takes into account Iraq’s export capacity. The assessment is intended to revamp out-of-date Opec+ baselines from which cuts were calculated (MEES, 30 May), with Iraq routinely arguing that its current quota allocation doesn’t take into…

Modern Gas, an Egyptian joint stock company with operations in both Saudi Arabia and the United Arab Emirates (UAE), and the Alexandria Petroleum Maintenance Company (Petromaint), a leading oil and gas service provider in Egypt offering a wide range of expert services, held a meeting with the Iraqi Ministry of Oil. The meeting discussed the prospects of Modern Gas’s participation in natural gas network connection projects for power generation plants, brick factories, and cement plants in Iraq. The meeting was held on the sidelines of first edition of the Iraq Oil and Gas Technology Exhibition (OiGatech 2025), in the presence…