Author: Rigs & Barge World
US President Donald Trump launched his Board of Peace on 22 January in the Swiss Alps, during the World Economic Forum’s annual Davos jamboree. After its initial soft launch in October, Mr Trump gathered world leaders for speeches, a PowerPoint presentation, and signing ceremony for the new international organization. Beyond its start-up rhetoric and corporate structure, the newly formed Board of Peace represents a major shift in the framework for diplomacy and peace in the Middle East. Since 1993, relations between Israel and Palestine were supposed to be governed by the Oslo Accords that set out mutual obligations under a…
Syria and Jordan have signed an agreement to supply natural gas to Syria through Jordanian territory, in a move aimed at strengthening Syria’s fragile electricity grid, officials said to Reuters. The agreement, signed at Syria’s Ministry of Energy in Damascus, brings together the Syrian Petroleum Company and Jordan’s National Electric Power Company. Under the deal, Syria will receive around 4 million cubic meters (mmcm/d) of natural gas per day, equivalent to approximately 140 million cubic feet (mmcf), to support power generation. The latest agreement builds on a broader regional energy arrangement signed in 2025 to transport gas to Syria via…
The MENA region is set for another year of profound geopolitical change as the ripples from global upheaval threaten to wash away existing structures. The changes bring both opportunity and risk for regional powers, but the transformations are beyond the ability of any one nation to control. The extent of the shift was on full display at the World Economic Forum’s (WEF) annual Davos gathering this week. Canada’s Prime Minister Mark Carney shocked observers in declaring that the “rules-based order” is dead; “we are in the midst of a rupture, not a transition.” (CONTINUED – 1064 WORDS) Read this article…
Dana Gas, the Middle East’s leading publicly listed regional natural gas company, and Crescent Petroleum, the oldest private oil & gas company in the Middle East, alongside their partners in the Pearl Petroleum Consortium, have signed a series of long-term gas sales agreements (GSAs) to supply natural gas from the Chemchemal field to major industrial consumers in the Kurdistan Region of Iraq (KRI). The 10-year agreements cover the sale of up to 142 million standard cubic feet per day (mmscf/d) to cement and steel producers. Deliveries are scheduled to commence in the second half of 2027, coinciding with the expected…
Libyan Prime Minister Abdulhamid al-Dbeibeh has announced a landmark 25-year oil development agreement with France’s TotalEnergies and US-based ConocoPhillips, committing more than $20 billion in foreign-funded investment to the country’s energy sector, according to Reuters. The deal, concluded through the Waha Oil Company, aims to increase Libya’s production capacity by up to 850,000 barrels per day (bbl/d). According to al-Dbeibeh, the project is projected to generate net revenues exceeding $376 billion over its 25-year lifespan. A source at Waha Oil said the company’s current daily production typically ranges between 340,000 and 400,000 bbl/d during normal operations. Waha, a subsidiary of…
Kurdish aspirations for self-rule in Syria suffered a devastating blow over the past fortnight. Military and political setbacks for the Kurdish-led Syrian Democratic Forces (SDF) have strengthened the government of President Ahmed al-Sharaa in its push for centralized governance. Since the early stages of Syria’s brutal civil war, the SDF proved itself as one of the US’ most reliable and robust allies in the fight against the Islamic State (ISIS). But if the Syrian Kurds hoped this would carry over into US support for an autonomous Kurdish region in post-war Syria, recent events have quashed that aspiration. (CONTINUED – 1725…
The Cabinet approved the allocation of several plots of land in the Red Sea Governorate to the General Authority for Red Sea Ports to support the development of green hydrogen projects and related infrastructure During the Cabinet’s 76th meeting, chaired by Prime Minister Mostafa Madbouly, an area of 251.73 acres has been allocated to establish a green hydrogen production plant, an area of 50.17 acres has also been allocated to establish the marine pier for the green hydrogen project, in addition to 173.92 acres to be used in implementing the route of the electricity transmission cable line. This decision aligns…
SLB, the global technology leader, has announced a 9% sequential revenue increase for the fourth quarter (Q4) of 2025, reaching $9.75 billion. The results reflect a 5% growth compared to Q4 2024, signaling a stabilization in global upstream activity, according to a press release by the company. In the Middle East and Asia, the company’s revenue rose by 8% sequentially in Q4, although it recorded a 4% decline when compared to the same period in 2024. For the full fiscal year 2025, SLB’s total revenue reached $35.71 billion, a slight 2% decrease from the $36.29 billion reported in 2024. SLB’s…
Libya has announced the second devaluation of the dinar in less than a year as the internationally recognized government faces a worsening foreign currency crisis and declining oil revenues, which the central bank has blamed on lower global oil prices. Crude and condensate output increased by 22% last year to a 15-year high of 1.374mn b/d for 2025 (MEES, 2 January), but the central bank has pointed to a decrease in oil revenues transferred to its accounts over the past two years as oil prices have fallen. (CONTINUED – 1002 WORDS) Read this article for free Gain access to over…
The Ministry of Petroleum and Mineral Resources (MoPMR) launched the “Takamol” platform recently for information technology integration. Takamol is a cloud computing solution for the oil, gas, and mineral resources industries, serving 150 companies and more than 250,000 employees, revealed Ahmad Moharram, Takamol Project Manager, during an episode of Petrocast, the Ministry of Petroleum and Mineral Resources’ (MoMPR) podcast. The platform provides an integrated work environment with three main services: enhancing efficiency, collaboration, and sector-wide connectivity. The scope of these services encompasses the full stack—software, platform, and infrastructure. The Manager of the Takamol program noted that the petroleum and mineral…