Author: Rigs & Barge World

Libya’s gas exports, all of which go to Italy via the 8bcm/y (775mn cfd)-capacity Greenstream pipeline, fell to just 105mn cfd for 2025, the lowest figure in more than two decades. The 2025 volumes are down 22% year-on-year and stand at just 11% of the record 964mn cfd achieved in 2007. This is the lowest annual figure since 2003’s 73mn cfd, marking a sixth consecutive annual decline (see chart). (CONTINUED – 705 WORDS) 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…

AVEVA, a global leader in industrial software, has appointed Khaled Salah as Vice President (VP) of  Africa operations. In his new role, Salah will lead a 30-member  team to execute the company’s growth strategy across the continent, reporting directly to Jesus Hernandez, Senior Vice President (SVP) for Europe, the Middle East and Africa (EMEA). Commenting on the appointment, Hernandez stated: “Africa is a strategic region for AVEVA. In this major industrial market, customers, world leaders in the fields of Energy, Metal & Mining, Chemicals, and Water, are looking for AVEVA’s expertise to accelerate and drive their digital transformation and sustainability…

After months of talks and intensive negotiations, the high profile $35bn Israel-Egypt gas export deal “has taken effect,” says NewMed Energy, a partner at the Chevron-operated 1.2bn cfd Leviathan gas field. On 16 January, Chevron announced that it has met the final condition of the deal by taking a final investment decision (FID) on expanding Leviathan to 2.1bn cfd by 2029 (MEES, 8 August 2025). (CONTINUED – 824 WORDS) 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…

Halliburton, an American oil service company, has reported a significant sequential improvement in its fourth-quarter (Q4) 2025 earnings, posting a net income of $589 million, compared to $18 million in the previous quarter, according to a press release by the company. Jeff Miller, Chairman, President, and CEO of Halliburton, attributed the strong finish to the year to the company’s strategy and resilient international franchise. Excluding impairments and tax adjustments, the company’s adjusted net income reached $576 million, up from the adjusted $496 million reported in the third quarter (Q3). Revenue for the quarter climbed to $5.7 billion, while adjusted operating…

US Gulf Coast refiners Valero Energy and Phillips 66 have purchased Venezuelan crude oil cargoes from independent trading houses, marking the first such transactions since Washington authorized the sale of up to 50 million barrels of the country’s stranded reserves, according to Reuters. The deals were facilitated through the Geneva-based trading house Vitol, which, along with rival Trafigura, recently secured special US licenses to market Venezuelan crude. This development follows a landmark agreement between Washington and Caracas in early January 2026, aimed at clearing tens of millions of barrels of oil held in storage following the ouster of President Nicolás…

Cyprus hopes to join the ranks of gas producing nations next year with the development of its 3.1tcf (gas in place) Cronos field, discovered in 2022. Located in Block 6 (Eni 50%op, TotalEnergies 50%), the developers plan to send Cronos gas to Egypt, taking advantage of synergies and under-utilized Egyptian infrastructure. It will then supply the 5mn t/y Segas LNG export facility at Damietta. (CONTINUED – 930 WORDS) 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…

Bharat Petroleum Corporation Ltd (BPCL), the second largest Indian Oil Marketing Company, secured one-year term deals for Iraqi and Omani crude grades as Indian refiners pivot back toward Middle Eastern suppliers to mitigate the impact of tightened sanctions on Russian oil. In addition to the Iraqi and Omani agreements, the state-run refiner is actively seeking additional volumes of Murban crude from the United Arab Emirates (UAE) through a separate tender. This shift in procurement strategy follows a significant tightening of US sanctions on October 22, 2024, which targeted Russia’s primary oil producers, Rosneft and Lukoil. The US Treasury Department mandated…

ENGIE, a French major player in energy transition, has signed a 10-year Biomethane Purchase Agreement (BPA) with PepsiCo UK to supply 60 gigawatt-hours (GWh) of renewable gas annually, a deal valued at approximately £70 million ($94 million). The project is the first of its kind for the UK food and beverage industry. It represents a regional first for PepsiCo across Europe, the Middle East, and Africa (EMEA), according to an ENGIE press release. Under the agreement, which is expected to commence in 2027, ENGIE will construct a new anaerobic digestion (AD) plant. This facility will convert organic waste and residues…

Oil markets are enduring a wild ride in early 2026, with fast-moving geopolitical developments in Iran causing sharp price reactions. While the US’ ousting of Venezuelan President Nicolas Maduro resulted in little more than a tired shrug from oil markets, the response to mass protests in Iran has been much stronger, reflecting concerns over potential disruption to the oil sector in Opec’s fourth -largest producer (MEES, 16 January). Even before protests broke out (MEES, 2 January), speculation was rife that a second round of conflict could break out between Israel and Iran this year. As the death count among protestors…

Egypt has cleared approximately $5 billion of the arrears due to its foreign partners in the oil sector, significantly reducing the sector’s debt as the state moves to accelerate upstream exploration, Prime Minister Mustafa Madbouly said during the Cabinet’s weekly meeting.  Egypt’s total arrears for International Oil Companies have dropped from a mid-2024 peak of $6.1 billion and are expected to reach$1.2 billion by the end of June 2026, which is the normal rate, according to Madbouly. He stressed the Egyptian state’s commitment to paying monthly dues of foreign partners according to the specified timetable, adding that this policy ensures that…