Author: Rigs & Barge World
Adnoc is considering the biggest shake-up of its crude oil pricing since it launched the ICE Futures Abu Dhabi (IFAD) Murban contract in 2021 (MEES, 12 March 2021), and has started consultations with term buyers. This comes amid a once-in-a-generation transformation of the UAE’s oil sector as it grapples with the fallout from the closure of the Strait of Hormuz (MEES, 3 July) and simultaneously embarks on its post-Opec journey (MEES, May 1). As preparation for the IFAD launch, Adnoc removed destination restrictions and switched from retroactive to forward pricing (MAN, 8 November 2019). Since then, the Murban official selling…
The board of the Egyptian private equity group, B Investments Holding, has approved the divestment of its stake in Infinity Solar power projects (Infinity Solar 1, 2, and 3) in Benban Solar Park for $8.25 million, marking a full exit from renewables. The Board also authorized Hazem Barakat, the company’s Chairman, to undertake all necessary actions and legal procedures to finalize the transaction, the company said in a disclosure to the Egyptian Stock Exchange (EGX). The company acquired the three power plants in 2017 through a partnership with Egypt’s Infinity Solar Energy and international developer Ib Vogt. The project, which…
The South Korean oil and gas contractor recorded impressive financial results in Q1 2026 based on a healthy order backlog in the region. In an interview with MEED, president and CEO Hong Namkoong says the company is looking to win more work in an evo… Source link
The company’s financial problems have caused disruption to energy sector projects in North Africa Source link
Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that the petroleum sector’s five‑year plan aims to double domestic crude oil production by 2030 through expanded application of the latest technologies, most notably horizontal drilling and hydraulic fracturing, alongside the introduction of new contractual frameworks. This came during the Minister’s meeting with the Board of Directors of the Egyptian General Petroleum Corporation (EGPC) via videoconference, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). During the meeting, Salah Abdel Kerim, EGPC Chairman, and Amal Tantawi, Deputy Chairman for Financial and Economic Affairs, reviewed the items on…
Libya’s NOC and its partner Eni this week added significant hydrocarbon production capacity with the successful start-up of their Sabratha Compression Project, the two firms announced on 29 June. Initially set for launch in late-2025, the long-awaited project – developed by the Mellitah Oil & Gas joint venture – was intended to boost gas output from Bahr Essalam. Libya’s largest offshore gas field has nameplate capacity of 1.1bn cfd, but has suffered from production declines. (CONTINUED – 859 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by…
Abu Dhabi-owned Esyasoft and Tesla will develop an initial portfolio exceeding 15GWh across the GCC, UK, Western Europe and India Subscribe to read the full article Become a MEED subscriber for unlimited access to: Exclusive news, comment and analysis on the MENA region An unrivalled 20-year old archive Exclusive announcements on project news, bids, awards and updates The latest Industry data and competitor insights SUBSCRIBE To MEED REGISTER to unlock sample content Source link
The state energy giant plans to ramp up its low-carbon ammonia and urea production capacity in Mesaieed by 6.4 million tonnes a year through this major project Contractors have submitted bids to QatarEnergy for a planned project to expand its low-carbon ammonia and urea output capacity by building a new production complex in Qatar’s Mesaieed Industrial City. The planned blue ammonia and urea production facility will have a total output capacity of 6.4 million tonnes a year (t/y) and is understood to be the eighth expansion phase of QatarEnergy’s fertiliser production complex located in Mesaieed, MEED reported last April. QatarEnergy issued…
The scope of work on the five CRPOs covers engineering, procurement, construction and installation of structures at the Abu Safah, Berri, Manifa, Marjan and Zuluf offshore oil and gas fields Subscribe to read the full article Become a MEED subscriber for unlimited access to: Exclusive news, comment and analysis on the MENA region An unrivalled 20-year old archive Exclusive announcements on project news, bids, awards and updates The latest Industry data and competitor insights SUBSCRIBE To MEED REGISTER to unlock sample content Source link
The Egyptian General Petroleum Corporation (EGPC) is preparing to implement a Proof of Concept (PoC) for immersion cooling technology at the Petroleum Pipelines Company (PPC), according to Mohamed Abouelmagd, Assistant CEO for Information Technology at EGPC. This comes as part of the petroleum ministry’s strategy to promote sustainability, optimize energy utilization, and strengthen digital transformation capabilities. The announcement was made during an expanded technical forum organized by EGPC that brought together information technology representatives from affiliated petroleum companies to discuss the latest advancements in the technology and explore its role in improving data center efficiency and supporting sustainable operations. The…