Author: Rigs & Barge World
The Middle East’s position as a global energy powerhouse can no longer be defined solely by the scale of its hydrocarbon reserves. In today’s markets, where carbon performance increasingly shapes trade flows and price structures, Gulf states are confronting a new reality. Long-term competitiveness will depend not only on the production of energy, but on how cleanly and credibly that energy is delivered. Landmark policy shifts in key import markets are already changing the rules. The European Union’s Carbon Border Adjustment Mechanism (CBAM) (MEES, 27 October 2023), along with Asia’s rising demand for cargo-level certification, is turning carbon value into…
The GCC’s Interconnection Authority (GCCIA) began the delayed commissioning of its new 2.5GW Wafra (Z) substation in Kuwait this week . The new station is connected to the GCCIA’s existing Fadhili substation in Saudi Arabia and will raise interconnector capacity with the emirate to 3.6GW. Kuwait has been relying on imports through the existing 1.2GW connector this year, with flows averaging a record 851MW (613GWh) in June. Ministry of Electricity, Water and Renewable Energy (MEWRE) spokesperson Fatima Abbas on 30 July said imports have helped avoid “major faults and power cuts” in recent weeks. Peak demand in May and June…
China’s manufacturing sector showed a clear sign of contraction in July 2025, amid escalating trade tensions between the world’s two largest economies.The Chinese manufacturing Purchasing Managers’ Index (PMI), a key indicator of manufacturing activity, fell from 49.7 in June to 49.3 in July, defying economic analysts’ expectations. This marked the fourth consecutive month that the PMI has been below 50, which signifies a contraction in the sector. This downward trend suggests that the tariffs war between the U.S. and China is beginning to impact Chinese exporters.Adding to the tension, U.S.-China relations, which had shown signs of improvement, deteriorated again last…
Saudi Arabia’s budget deficit fell by 40% sequentially in Q2 to $9.2bn, bringing the total year-to-date figure to $24.9bn. Despite the improvement from Q1, this is already within touching distance of the budget forecast’s full year deficit figure of $26.9bn. Revenues increased by $10bn from Q1 to $80.4bn despite oil prices tumbling in early April following the rollout of the new US tariff regime. Oil revenues ticked up last quarter by $600mn to $40.5bn, while higher tax revenues drove non-oil revenues to a record $40bn. Q2 is typically the high-point for tax revenues, pointing to a weaker budget performance and…
The Egyptian Ethylene and Derivatives Company (ETHYDCO) and the Egyptian Projects Operation and Maintenance Company (EPROM) signed a Technical Services Agreement for the provision of technical services, project collaboration, and support in technical and engineering fields. This agreement allows ETHYDCO to utilize EPROM’s technical and operational expertise, especially in integrated technical support for its projects and production units. This collaboration is designed to continually enhance operational efficiency and performance while upholding top-tier engineering, safety, and occupational health standards, according to an EPROM statement. It also includes joint efforts in developing engineering and technical skills through specialized training, The agreement was…
Turkey will start providing Syria with natural gas on Saturday, August 2, Alparslan Bayraktar, Turkey’s Minister of Energy and Natural Resources, told the Anadolu news agency. Meanwhile, Syrian Energy Minister Mohammed al-Bashir noted in a statement released by his ministry and quoted by Reuters: “Starting August 2, Syria will begin receiving 3.4 million cubic metres of gas from Azerbaijan to Aleppo Governorate via Turkey”. This would contribute to generating some 900 megawatts of electricity and help enhance the stability of the electricity grid in Syria. He explained that Syria made a swap agreement with Azerbaijan, and the gas that will come…
Shell, the British oil giant, recorded $11.937 billion in Cash Flows From Operations (CFFO) in the first quarter of 2025, compared $9.281 billion in the same quarter of 2024,” reflecting strong operational performance in a less favourable macro environment,” according to a Shell statement. Meanwhile, the company’s adjusted net profit showed a 22 per cent decline to reach $4.3 billion during Q2 2025, compared to the same quarter of the previous year, a decline caused” by a drop in oil prices, lower gas trading results and outage-related losses” according to Reuters. The statement said that Shell’s focus “on performance, discipline…
Iraqi Kurdistan is set for a sizeable gas supply boost next year. The Pearl Consortium partners are due to complete a 250mn cfd expansion at the 500mn cfd Khor Mor gas field via their KM250 project by 1Q 2026, while targeting up to 75mn cfd in early production from an appraisal project at nearby Chemchemal by 3Q 2026. These projects would see combined output exceed 800mn cfd by the end of next year (see chart). 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…
The Egyptian General Petroleum Corporation (EGPC); and the Egyptian Natural Gas Holding Company (EGAS) signed a new agreement with Italy’s Eni, represented by its Egyptian subsidiary, the International Egyptian Oil Company (IEOC) ; and British bp, to begin exploration activities in the Mediterranean Sea. The agreement includes drilling an exploratory well in the Temsah concession area in the coming months, as part of plan to enhance natural gas exploration and support opportunities for discoveries. The agreement was signed by Salah Abdel Kerim, EGPC’ Chairman; Yassin Mohamed, EGAS’ Chairman; Francesco Gaspari, General Manager of Eni in Egypt, and Wail Shaheen, Regional…
The Ministry of Petroleum and Mineral Resources (MoPMR), in collaboration with Italy’s energy giant Eni, held a specialized workshop on Methane Emissions Management. Alaa El-Batal, First Undersecretary of the Ministry for Energy Efficiency, Climate, Environment, and Safety Affairs, inaugurated the event. The workshop saw broad participation from international energy companies and officials from Egyptian General Petroleum Corporation (EGPC) holding companies and their affiliates, representing safety, environment, energy efficiency, and production departments. In his opening speech, El-Batal noted that this workshop is part of a series of successful events organized by the Ministry together with leading global energy companies in Egypt.…