Author: Rigs & Barge World
Qatar’s UCC Holding and Syria’s new government signed a $7bn electricity investment deal last week, signaling the international community’s latest attempt to help Syria rebuild after 14 years of civil war. “This agreement marks a crucial step in Syria’s infrastructure recovery plan. It will strengthen our national grid, expand access to electricity, and help meet growing demand through partnerships that combine international expertise with local priorities,” Syrian Energy Minister Mohammad al-Bashir said at the 29 May signing ceremony. (CONTINUED – 736 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the…
The Petroleum Projects and Technical Consultations Company (PETROJET) has completed the manufacturing of high-quality subsea systems that will be exported to Angola as part of a development project in the African country. According to PETROJET, the scope of work includes manufacturing and loadout of two manifolds, one Subsea Distribution Unit (SDU), along with suction piles, wet parking frames, Umbilical termination Assembly (UTA) foundations, and Electrical Distribution Units (EDUs). The work also involved a six-month extension to produce additional subsea frames and equipment. Expanding its activities, PETROJET has added the manufacturing of small-bore tubing to its portfolio covering bending, welding, assembly,…
North American E&P operators spend less in Q1 2025 Source link
The Italian energy giant Eni and Argentina’s leading energy company YPF have signed a key agreement to advance the Argentina LNG (ARGLNG) project. The agreement was signed during a meeting between Argentine President Javier Milei and Italian Prime Minister Giorgia Meloni. The agreement outlines the necessary steps to reach a final investment decision for the project’s next phase which includes developing the infrastructure for gas production, treatment, transportation, and liquefaction using floating liquefied natural gas (FLNG) units, with a planned capacity of 12 million tons of LNG per year. Argentina LNG is a large-scale, integrated gas project focused on tapping…
Morocco is securing substantial international support for its controversial autonomy plan for Western Sahara. Since mid-May, it has signed new deals with the UK, the UAE, and the EU to further cement its sovereignty claims over the disputed territory, which it has occupied since the withdrawal of former colonial power Spain in 1975. Morocco controls about 80% of the sparsely-populated territory, which the UN considers a “non-self-governing territory.” Meanwhile, the Algeria-backed Polisario Front controls the remaining 20% (see map), seeking an end to Moroccan “occupation” and the establishment of an independent state for the indigenous Sahrawi people. (CONTINUED – 926…
Israel’s refinery output for Q1 dropped 16% from the previous quarter to 243,500 b/d, or 82% of nameplate capacity, according to the latest filings from the country’s two refineries: the 197,000 b/d Bazan Refinery at Haifa in the north and the 100,000 b/d Ashdod Refinery in southern Israel. This was largely due to maintenance work at Bazan where overall output was down 23% quarter-on-quarter to 154,400 b/d, or 78% of capacity. The drop “stemmed mainly from the shutdown of the hydrocracker (HCU), hydrogen production unit, [57,000 b/d] CDU 3 and ancillary facilities for periodic maintenance,” Bazan says. (CONTINUED – 665…
Boost in U.S. LNG exports expected to lower LNG prices Source link
Adnoc has significantly ramped up imports of Iraqi straight run fuel oil (SRFO) in recent months with volumes averaging 33,600 b/d (8 cargoes total) through January-May according to Kpler, as the state firm secures new feedstock for its 837,000 b/d Ruwais refining complex. Operations at Ruwais have been transformed following the late-2023 completion of the Crude Flexibility Project (CFP) upgrades to the 417,000 b/d Ruwais West refinery in late-2023. This enabled Adnoc Global Trading (Adnoc 65%, Eni 20%, Austria’s OMV 15%) to replace light Murban crude feedstock with heavier barrels; primarily domestic Upper Zakum. Adnoc has now announced that Murban…
*Egyptian authorities are keen to highlight the progress the country has made over the last twelve months in enacting reforms required by its $8bn IMF loan agreement (MEES, 14 March). This IMF loan, agreed in March last year, has also helped unlock key foreign direct investment (FDI) from Egypt’s Gulf allies and appears to have given Egyptians working abroad the confidence to send more of their hard-earned money back home. *Last year’s record $46.6bn FDI was largely driven by one project: the UAE’s $35bn planned Mediterranean resort of Ras el-Hekma (MEES, 17 May 2024). This skewed the numbers, with $40.5bn…
As Saudi Arabia moves forward on its trajectory towards ending oil burn by 2030, 2028 is shaping up to be an inflection point. Recent months have seen a number of contracts awarded for developing gas-fired power generation capacity in the kingdom, with the projects due to be completed in 2028. A key driver behind the 2028 date? It’s when the Master Gas System (MGS) Phase III expansion project is due to be completed. If Saudi Arabia is to succeed in its efforts to eliminate oil burn, this project will play a pivotal role. Not only does it increase MGS capacity…