Author: Rigs & Barge World
Abu Dhabi National Oil Company (ADNOC) has floated a second crude oil tender within a week, set to close on June 11, trade sources told Reuters. The company is offering Upper Zakum, Umm Lulu, and Das crude cargoes for loading between June and August 2026, with bids invited for up to 2 million barrels (mmbbl), traders said. The three grades, Upper Zakum; Umm Lulu, and Das, are pumped from Gulf fields and shipped via the Strait of Hormuz. ADNOC offered the cargoes on a free‑on‑board basis from storage at Fujairah, Zirku, and Das Island, and also via ship‑to‑ship transfers in…
The war between the Sudanese Armed Forces (SAF) and the rival paramilitary Rapid Support Forces (RSF) is now in its fourth year, with each side settling into the status quo in the divided country (MEES, 10 April). As divisions become embedded, the SAF-backed government is slowly seeking to rebuild Sudan’s battered energy infrastructure. Targeted drone strikes on power facilities have plunged Sudanese cities into darkness over the past few years. Attacks have damaged the main thermal power plant in El-Obeid, as well as the Nile River’s 1.25GW Merowe Dam, whose hydropower station – the country’s largest – previously generated 40%…
Mahmoud Esmat, Minister of Electricity and Renewable Energy, met with a delegation from Norway’s Scatec to review the operation of the first phase of the 561 megawatt (MW) Obelisk Solar Power Plant and the 100 /200 megawatt-hour (MWh) battery energy storage system that was connected to the national grid earlier this year. They also reviewed progress on the second 564 MW phase of the plant, which is scheduled to enter service within the coming weeks as part of plans to add new renewable energy capacity during the summer. Once fully operational, the Obelisk project will become Africa’s largest hybrid solar and…
Karim Badawi, Minister of Petroleum and Mineral Resources, participated in a high-level panel on the future of energy during St. Petersburg International Economic Forum (SPIEF), alongside a number of ministers and senior officials. The SPIEF is an annual global business and economic event held in Russia, bringing together world leaders, government officials, and executives to discuss investment opportunities, economic trends, and international cooperation. It is often described as Russia’s leading platform for economic dialogue and deal-making. During his speech, the Minister emphasized that Egypt’s integrated vision for the energy sector is centered on securing the local market’s energy needs, in…
Q1 was a testing period for Israel’s two refineries: the 197,000 b/d Bazan in Haifa in northern Israel and the 100,000 b/d Ashdod in the south. Combined refinery output averaged 253,000 b/d over the quarter, operating at 85% of CDU capacity, despite missile attacks on Bazan and maintenance work at Ashdod (see chart 1). 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
Iran has announced that it is moving forward with plans to coordinate with Oman on the administration of the Strait of Hormuz, one of the world’s most important oil transit routes. Foreign Minister Abbas Araghchi said the initiative aligns with international law, stressing that both countries, as coastal states on the waterway, have a legitimate role in its oversight. He dismissed US positions that classify the strait as international waters guaranteeing unrestricted passage for all shipping. He added that regional countries bordering the Gulf would be consulted, while governance decisions would ultimately be made jointly by Iran and Oman. Araghchi…
Algerian state-owned energy company SONATRACH has launched construction of its part of the Trans-Saharan Gas Pipeline (TSGP), advancing a long-standing project aimed at transporting Nigerian natural gas to European markets, noted a statement by the company. The TSGP is jointly developed by SONATRACH, the Nigerian National Petroleum Company (NNPC), and Niger’s SONIDEP. The project is expected to establish a new export corridor for African natural gas, linking Nigeria, Niger, and Algeria before connecting to existing export infrastructure serving international markets, particularly Europe. The pipeline will run along the Trans-Saharan Road corridor from the Algerian-Nigerien border to Algeria’s National Gas Dispatching…
The Kuwaiti government has approved the merger of KPC’s two state-owned refining firms Kipic and KNPC, consolidating its 1.45mn b/d refining sector under a single corporate structure. The decision made by the Supreme Petroleum Council in April and published in the government gazette on 31 May would see KNPC taking over Kipic’s 615,000 b/d Al Zour refinery and the nearby 22mn t/y LNG import terminal. The merger has long been planned and forms part of a broader corporate restructuring of KPC’s subsidiaries (MEES, 12 April 2024). (CONTINUED – 796 WORDS) Read this article for free Gain access to over 60-years…
The price of oil surged by 3% to 5% mid-week as a military stand-off between the United States and Iran led to a fresh flare-up despite an existing temporary ceasefire. Prices for the main benchmarks, West Texas Intermediate and Brent, had been on a downward trajectory since the previous week. This initial drop came in response to optimistic declarations from the Trump administration regarding a potential diplomatic deal. However, the deal failed to materialize, complicating the landscape for both global oil producers and consumers, particularly after Iran explicitly denied the American narrative.The military conflict in the region follows a well-documented tactical…
Chinese battery manufacturer CATL expects energy storage solutions to account for 50% of its global sales by 2030, up from around 25% currently, according to Reuters. Kevin Tang, CATL’s Director of Energy Storage Systems for Europe, noted that the energy storage segment has expanded rapidly, rising from just 2% of the company’s battery sales five years ago. While CATL remains primarily focused on lithium-ion batteries for electric vehicles, which currently generate about three-quarters of its revenue, growing demand for renewable energy integration is driving demand in battery storage applications. “Once we have more renewable energy, we need energy storage,” Tang…