Author: Rigs & Barge World
Media release: Brisbane to host global LNG2029 Conference and Exhibition | Australian Energy Producers Skip to content Source link
India’s state-run Hindustan Petroleum Corp Ltd (HPCL) is planning to import Venezuelan crude oil for the first time to expand its activities in the processing of heavier grades in its new fiscal year (FY) beginning in April, Chairman Vikas Kaushal said. Indian refiners are evaluating Venezuelan crude supplies being marketed by trading houses Vitol and Trafigura under a U.S.-mandated sales mechanism following Washington’s recent action against Venezuelan President Nicolas Maduro. HPCL aims to enhance operational flexibility by leveraging two new facilities—the residue upgrading unit at its Vizag refinery and the Barmer refinery in Rajasthan—allowing it to raise heavy crude processing.…
On 22 January, Adnoc Offshore announced that it had awarded a $942mn EPC contract to US engineering firm McDermott International to increase capacity at its Nasr oil field to 115,000 b/d by 2027. The project has long been part of Adnoc’s ambition to increase crude oil production capacity to 5mn b/d by 2027 (MEES, 7 November 2025). The field is part of the Umm Shaif & Nasr concession (Adnoc 60%, TotalEnergies 20%, Eni 10%, CNPC 6%, CNOOC 4%). McDermott is also working on expanding the Umm Shaif field from 275,000 b/d to 390,000 b/d by 2027. (CONTINUED – 255 WORDS)…
Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone (SCZONE), hosted Peter Mollema, the Dutch Ambassador to Egypt, to discuss expanding bilateral investment in renewable energy and green hydrogen production. According to an official statement issued by the SCZONE, the meeting held at the authority’s New Capital headquarters focused on leveraging Egypt’s strategic location and natural resources to support the global energy transition. Gamal El-Dien highlighted that the SCZONE is prioritizing the localization of green fuel industries as a cornerstone of its sustainable development strategy. Furthermore, he reviewed the progress of high-value projects within the zone, specifically the “Egypt…
An EU ban on fuels made from Russian crude came into effect this week. From 21 January, importers must prove that refined products imports have been produced from non-Russian origin crudes. The regulations add more complexity into global oil trade flows that have been increasingly fragmented since Russia’s invasion of Ukraine in 2022. (CONTINUED – 1049 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
Energean has received $80 million in outstanding dues from the Egyptian General Petroleum Corporation (EGPC), in early January, according to a statement by Energean. This settlement is part of a broader state initiative that has seen approximately $5 billion in receivables paid to international oil companies (IOCs) since mid-2024. Total sector arrears have dropped from a peak of $6.1 billion to a projected $1.2 billion by June 2026, a move Prime Minister Mostafa Madbouly highlighted as essential for restoring investor confidence. Energean also announced that it is preparing a multi-well exploration campaign in Egypt. Drilling is scheduled to begin at…
Venezuela expects to attract around $1.4 billion in investment this year in projects operating under oil production-sharing contracts (PSCs) promoted by the government, up from about $900 million last year, Interim President Delcy Rodríguez said. PSC is a type of agreement between a government (or state-owned oil company) and a private oil and gas company in which the government provides the resource, the company provides the investment and expertise, and they split the profits from production. Rodríguez made the remarks during a meeting with oil executives, lawyers and lawmakers at state-owned oil company PDVSA’s headquarters in Caracas, where discussions focused…
The IEA has revised up its expectations for global oil demand growth this year to 930,000 b/d, citing “a normalization of economic conditions after last year’s tariff turmoil and lower oil prices than a year ago” (see table1). The revision comes as the IMF also upgraded its global growth expectations, noting that “trade tensions have continued to abate but remain subject to occasional flare-ups” (see p16). 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
The General Authority for the Suez Canal Economic Zone (SCZONE) signed a contract with China National Chemical Engineering Company Co., Ltd. (CNCEC) worth $34 million in investments to establish an industrial project for soda ash production in the Sokhna Industrial Zone. The agreement follows an October meeting between President Abdel Fattah El-Sisi and executives from CNCEC and its subsidiary, TCC Group, which underscored the strategic importance of the project as Egypt’s first integrated soda ash production complex. The deal includes two integrated projects. The first, spanning an area of 100,000 square meters, aims to manufacture production facilities, lines, and equipment,…
Egypt has exported a new shipment of Liquefied Natural Gas (LNG) from the Idku liquefaction plant to Türkiye, marking the second consecutive cargo dispatched this year as the country ramps up its regional energy hub activities. The shipment, consisting of 150,000 cubic meters (m³), was transported aboard the Methane Becki Anne carrier on behalf of Shell, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). This follows a similar shipment of 150,000 m³ sent earlier this month to Canada via French TotalEnergies’ LNG Endeavour vessel. The MoPMR noted that these exports are part of Egypt’s ongoing…