Author: Rigs & Barge World
The Minister of Petroleum and Mineral Resources, Karim Badawi, said that the Ministry views its workforce as a cornerstone in achieving its strategy and meeting citizens’ needs for petroleum products and natural gas while contributing to the national economy. During a meeting with a delegation from the General Trade Union for Petroleum Workers (GTUPW) on Labor Day, Badawi highlighted the six pillars of the Ministry’s strategy, underscoring their importance for attracting new investments and driving growth within the petroleum sector. The Minister also commended the efforts exerted by the workforce to overcome challenges and deliver positive results. For their part,…
In recent years Oman’s oil and gas developments have moved ahead on two distinct tracks. Gas has raced ahead as IOC development of non-associated gas fields has enabled a series of gas-fed industrial projects. Meanwhile, crude oil has been curbed by persistent Opec+ cuts, though, in terms of overall liquids output this has been partly alleviated by rising condensate output thanks to the gas gains (MEES, 24 January). Latest official data for Q1 show Oman’s liquids production stayed flat at 987,000 b/d, of which MEES calculates crude averaged 754,000 b/d, the lowest quarterly figure since 2021. (CONTINUED – 928 WORDS)…
Baker Hughes, an energy technology company, reported a 39.5% reduction in emissions intensity for its scope 1 and 2 greenhouse gas (GHG) emissions compared to its 2019 baseline, as outlined in its 2024 Corporate Sustainability Report (CSR). This achievement highlights the company’s commitment to delivering lasting value through sustainability, supported by strong corporate governance and a “people first” culture. “Sustainability continues to be a key competitive advantage for Baker Hughes, helping us deliver long-term value to all of our stakeholders,” said Allyson Anderson Book, Chief Sustainability Officer at Baker Hughes. “Our 2024 CSR shows how each part of our business…
Equinor reported strong financial and operational performance during the first quarter (Q1) of 2025. According to the results, Equinor delivered adjusted operating income of $8.65 billion and $2.25 billion after taxes. The company reported net operating income of $8.87 billion and net income at $2.63 billion. Adjusted net income was $1.79 billion, leading to adjusted earnings per share of $0.66. Operationally, Equinor achieved a total equity production of 2,123 million barrels of oil equivalent (mmboe) per day in the first quarter, down from 2,164 mmboe in the same quarter last year. The company said that the operational performance for most…
Abu Dhabi on 18 April announced that it has opened a sales and marketing office in Beijing “aimed at strengthening long-term business relationships between Adnoc and its customers and partners in the People’s Republic of China.” The announcement came during a visit to China of Adnoc CEO Sultan al-Jaber. During his visit, three LNG sales deals were signed with Chinese firms, with Mr Jaber noting that “we are confident that the opening of this office and the signing of the LNG supply agreements are important steps that will contribute to strengthening cooperation with our Chinese partners and create new opportunities…
Petroleum Minister Karim Badawi attended the closing ceremony of the Industry Simulation Program (ISP)—an initiative by the Society of Petroleum Engineers (SPE) Egypt branch and hosted by Enppi. Held from February 9 to 24, 2025, the program aimed to equip university students with practical industry skills, focusing on advanced technologies such as AI and machine learning. In his speech, Badawi outlined the six key pillars of the ministry’s strategy, explaining how young trainees could draw on these pillars to develop their career experiences and become effective contributors to their implementation. He praised the winning teams for the performances which showcased…
Pivot to gas could benefit DJ Basin producers Source link
The Gulf Mercantile Exchange (GME) on 20 April signed an MoU with China’s Shanghai Futures Exchange (SHFE) to “to establish a framework for strategic cooperation between the Middle East and China’s derivatives markets.” In a press release, the region’s largest commodities and futures exchange says that “this partnership supports GME’s ongoing efforts to position the Gulf as a global commodities hub and aligns with SHFE’s internationalization strategy to connect with key markets across the world.” (CONTINUED – 408 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by…
bp announced its financial results for the first quarter (Q1) of 2025, reporting underlying replacement cost (RC) profits of $104 billion compared to $1.2 billion for the previous quarter and $2.7 billion during the same period of 2024. The statement revealed that the company’s profit attributable to shareholders for Q1 2025 reached $687 billion, compared to approximately $1.96 billion in Q4 2024 and $2.3 billion in Q1 2024. Regarding oil production and operations, the RC profit before interest and tax for Q1 2025 was $2.8 billion, compared to $2.6 billion in the previous quarter, according to bp. The company explained…
The Deputy CEO of the National Iranian Drilling Company (NIDC) for Drilling Operations Hamidreza Shafiei-Makvand announced that it drilled and completed eight oil and natural gas wells its rigs during Farvardin (March 21–April 20), the first month of the Iranian calendar year. Makvand elaborated that one of the wells was a developmental well, while the other seven were workover wells. He added that six of the wells are located in the operational area of the National Iranian South Oil Company (NISOC), and all have been finalized and handed over to the employer. Makvand noted that one well was drilled as…