Author: Rigs & Barge World
Q: Recent comments from the IEA Executive Director that the “data always wins” have sparked a lot of discussion. You’ve frequently raised the importance of ensuring data remains unaffected by policy-biases, so what do you make of these comments? A: OPEC fully supports the importance of data. Actually, it underpins everything we do. Data before facts, is OPEC’s mantra for providing realistic outlooks that are coherent and consistent. Since you reference the IEA in your question, the real question should be which of the IEA’s data or data sets ‘always wins’, given the often-contradictory nature of its messaging? For example,…
Frist for påmelding er 15. september 2024. Kurset har en egenandel på kroner 5000,-. Det er 15 plasser på kurset. Vi tar forbehold om eventuelle endringer av datoer og sted for kurset. Hvem kan delta? For å delta på kurset stilles det blant annet krav til dokumentert kunnskap om fiskeriaktivitet gjennom å ha vært aktiv fisker eller tilsvarende, og at kursdeltager har minimum navigasjonssertifikat som fiskeskipper. Andre interesserte med relevans til fagfeltet seismikk og fiskeri, kan søke om å delta som observatør på kurset. Bakgrunn for kurset Hovedregelen er at det det ved alle seismiske undersøkelser på norsk sokkel skal være minst en fiskerikyndig om…
As part of efforts to enhance cooperation between Egypt and the US in the Energy Sector, Karim Badawi, Minister of Petroleum and Mineral Resources, met with Adam Cortese, CEO of Sun Africa, and his accompanying delegation. The meeting discussed the potential collaboration in the domains of oil and natural gas, renewable energy, carbon reduction, and mining activities. During the meeting, both sides explored opportunities for joint projects in renewable energy and smart energy solutions based on smart infrastructure, with a particular focus on solar power, green energy, and carbon capture and storage (CCS). The two sides asserted on the importance…
Opec crude oil production fell by 90,000 b/d to 26.87mn b/d for March but is now set to climb this month and next as voluntary cuts begin to be unwound. The Opec+ ‘Group of Eight’ will unwind production cuts by 138,000 b/d this month, accelerating to 411,000 b/d next month, despite oil prices crashing over the past week amid a broader market meltdown following US President Donald Trump’s ‘Liberation Day.’ The scale of the actual production increases should be markedly less than the headline announcement given that many Group of Eight members are already overproducing, while so-called ‘Compensation Cuts’ should…
Fiskere er eksperter på fisk og fiskerier. Vi trenger flere fiskerikyndige. Illustrasjonsfotoet er fra Henningsvær i Lofoten. Foto: Piotr Musioł 08.08.2024 Når seismikkfartøy og fiskebåter styrer på i samme farvann, kan det bli sjau. Flinke fiskerikyndige sørger heldigvis for at det nesten aldri skjer. «Dessverre går det litt trått å rekruttere nye folk – og det bekymrer oss litt», sier Jan Stenløkk i Sokkeldirektoratet, som har lært opp og godkjent nye fiskerikyndige de siste 15 årene. Jan Stenløkk har lært opp og godkjent fiskerikyndige i 15 år. I november kommer et nytt kurs. Meld deg…
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with executives from Barrick Gold, a global leader in mining, to reaffirm Egypt’s strategic commitment to transforming its mining sector into a key pillar of the national economy. The government is actively working to increase the sector’s contribution to GDP from the current 1% to 5–6%, driven by comprehensive regulatory reforms and close coordination with the Ministries of Finance and Environment. During the meeting, Barrick Gold expressed strong interest in exploring Egypt’s high-potential mineral regions, reflecting the country’s rising status as a premier destination for global mining investment. Badawi reaffirmed…
19/08/2024 We will be publishing the Resource Report 2024 at 10:00 on Wednesday, 21 August. The resources on the Norwegian continental shelf (NCS) must be managed with a long-term perspective. This report illustrates the opportunities we have on the NCS, and what it will take to ensure that these resources can continue to create value for society. Norway still has extensive oil and gas resources on the NCS. These resources can provide a basis for high levels of production, export and value creation for society for many years to come. The resource report will be launched on…
Misr Fertilizers Production Company (MOPCO) demonstrated strong performance in its fiscal year (FY) results of 2024, with revenues reaching EGP19.650 billion and net profits EGP15.120 billion–over a 153% increase compared to 2023. MOPCO has also recorded a 7.2% increase in working capital, reaching EGP 12.360 billion. Total investment has increased by 6.5%, amounting to EGP 53.840 billion. In addition, the company’s equity saw notable growth, reaching EGP 45.380 billion, a 4.9% rise from 2023 and an astounding 800% increase since 2015. The results were announced during the company’s general assembly meeting, held in the presence of the Minister of Petroleum and…
Saudi Aramco, Sinopec and the Yanbu Aramco Sinopec Refining Company (Yasref) have signed a framework agreement for a major petrochemicals expansion project at Yasref. The project is a key plank of Aramco’s strategy to bring its liquids-to-chemicals conversion capacity to 4mn b/d by 2030, and follows an MoU in December 2022 (MEES, 23 December 2022). In a joint 9 April statement, the trio announced the signing of a Venture Framework Agreement (VFA) “intended to pave the way for a major petrochemical expansion” at the Yasref refinery, located at Yanbu on the Red Sea coast. The Yasref refinery (Aramco 62.5%, Sinopec…
The National Iranian Gas Company (NIGC) announced that it delivered a total of 6.49 billion cubic meters (bcm) of natural gas to the industrial sector, including power plants, petrochemical units, steel producers, and cement factories, during the 18-day period from March 20 to April 7. According to Tehran Times, this marks a 6.89% increase compared to the same period last year, reflecting a notable uptick in industrial energy demand and supply capacity. The power generation sector recorded the highest volume of natural gas deliveries, receiving 3.63 bcm between March 20 and April 7, 2025—up from 3.39 bcm during the same…