Author: Rigs & Barge World
Israel’s key current focus may be on threats from its northern and southern borders but there is also internal strife brewing with the finance and energy ministries clashing in recent weeks over a perceived lack of competition within the country’s domestic gas market. At first the finance ministry’s qualms related to the ongoing inter-ministerial committee that is discussing gas export policy, with a leaked letter to the press some two years ago warning that a potential decision to increase already stringent export quotas could see domestic gas prices rise (MEES, 28 February & MEES, 7 July 2023). (CONTINUED – 2190…
The “Gygra” deposit is situated at 2800 metres below sea level. (Photo: Centre for Deep Sea Research UiB) 02/04/2025 The Centre for Deep Sea Research at the University of Bergen (UiB) and the Norwegian Offshore Directorate have discovered a new sulphide location on the Knipovich Ridge, west of Svalbard. “A sulphide sample was collected during an expedition along the Knipovich Ridge in December 2024. Further mapping of the area was conducted in March of this year, and we are now certain that we’ve discovered a new sulphide deposit,” says Hilde Braut, Assistent director of the new…
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Unlike his charismatic father, the eye-doctor-turned, current Syrian leader, Bashar al Assad, has been very unfortunate, when it comes to holding his country with a rich history in the realm of civilization, together, for well over a decade. It became a playing field for numerous actors on his watch to sow seeds of individual vested interests, in the aftermath of civil unrest that followed the Arab Spring. The US, Iran, Russia and Turkey are all in it, vying for holding on to their own sphere of influence. A coalition of rebel groups launched a major offensive on 28 November, 2024,…
Speech: Samantha McCulloch addresses the 2025 Australian Domestic Gas Outlook Conference | Australian Energy Producers Skip to content Source link
Iraq’s archaic refining fleet churns out huge volumes of fuel oil, providing power plants with enough volumes to offset gas shortages and leaving a substantial surplus for export. For the year ahead, Iraq may have to burn record volumes of both fuel oil and crude during the summer’s peak electricity demand season after the US this month opted not to renew a 120-day waiver permitting payment for Iranian electricity imports (MEES, 14 March). With Iraqi officials concerned Washington could move to block crucial Iranian gas exports, they are looking at alternatives, including LNG imports, but time is running out. Iraq’s…
The OPEC+ meeting that took place on December 5, 2024, did not lead to a master plan in order to address the pressing needs of its members. Nor did it boldly declare that the measures that they adopted would achieve their most cherished goal, ‘stabilizing’ the markets, the code word of the OPEC +for an increase in the price of oil. The cartel put on a unified front by declaring that members promised to adhere to the individual quota of each. In this context, the assessment procedures by the third parties have been pushed back until November, 2026; this had…
The price of crude oil slightly increased last week, perhaps due to the lingering anxieties over the handling of Syria by fractured opposition, consisting of various rebel groups.Even a minor incident in the Middle East usually affects the sentiments of both analysts and investors that in turn reflects on oil and gas prices.Although the take-over was more or less bloodless, the rebel groups hardly see eye-to-eye; since they are divided along religious and ethnic lines, it is hard to imagine a unified front in the coming months, as age-old rivalries may create friction against such a noble mission.With the dominance…
Saudi Aramco’s base oils subsidiary Luberef produces and markets high value lubricants which are used in a range of sectors including automotives and emerging energy-transition industries such as wind turbines. The firm is finalizing a major expansion project which will enable it to move further up the value chain, and is now studying a further potential expansion project which would yield still-higher margins. After securing bumper revenues and profits over 2021-2023, higher feedstock costs led to a sharp drop in profits to a post-pandemic low of $259mn last year. The firm operates facilities at Yanbu and Jeddah in Saudi Arabia,…
In recent weeks, the Iranian government has implemented drastic measures in an attempt to manage the situation, with limited success: schools have switched to online learning, universities have shut down, and President Masoud Pezeshkian has publicly urged citizens to lower their thermostats by at least two degrees. Additionally, the foreign ministry has suggested that officials wear warmer clothing to save energy.For ordinary Iranians, the crisis is worsened by their shrinking purchasing power; as of Thursday, December 19, the national currency, the Iranian rial, has plummeted, with the exchange rate reaching 775,500 rials to one US dollar in open markets.Iran]s energy…