Author: Rigs & Barge World
The United States significantly increased military pressure on Iran by launching targeted strikes against multiple military installations, including radar stations, speedboats, and missile storage facilities.This military action followed an incident where a Qatari-owned tanker came under alleged Iranian fire while navigating the Strait of Hormuz along a shipping lane positioned closer to Oman than Iran.The Strait of Hormuz is a vital global chokepoint that normally handles over 30,000 vessel transits annually and carries roughly 20 million barrels of oil per day, representing about 20 percent of global consumption. However, the recent conflict has severely disrupted this traffic, causing daily transits…
Egypt’s installed renewable energy capacity has reached 9,516 megawatts (MW), supported by 500 megawatt-hour (MWh) of battery energy storage, Mahmoud Esmat, Minister of Electricity and Renewable Energy, announced during a Cabinet meeting chaired by Prime Minister Mostafa Madbouly. The installed renewable energy capacity comprises 2,982 MW of hydropower, 3,500 MW of solar energy, and 3,034 MW of wind energy. Esmat explained the ministry’s roadmap to expand renewable energy generation and increase its share in Egypt’s electricity mix to 45% within the next two years. By the end of 2026, Egypt plans to add 1,700 MW of new solar capacity and…
The OECD’s Nuclear Energy Agency says global nuclear capacity will triple by 2050 only under its most transformative scenario, with the Gulf’s reactor procurement decisions among the projects that will determine which path the industry takes Global nuclear capacity will triple by 2050 only if governments and industry achieve a step change in project delivery that has no recent precedent, according to a new outlook published by the OECD’s Nuclear Energy Agency (NEA). The Nuclear Energy Outlook tracks nearly 313 gigawatts electric (GWe) of new nuclear capacity under construction, planned or proposed worldwide, and finds that the tripling target agreed…
Join MEED’s analysts for an exclusive update on Saudi Arabia’s gigaprojects programme, investment priorities and emerging opportunities across the kingdom 🌐 Webinars: Saudi Giga Projects: Market Update for Q3 2026 🗓 Tuesday 21 July 2026 | 🕐 11:00 AM GST | Register now Saudi projects market outlook and giga projects update2026 contract awards, project activity and market performanceGiga project reprioritisation, funding allocation and delivery progressKey project announcements, milestones and market developments to watchMajor contracts awarded across construction, infrastructure and utilitiesUpcoming tenders and contract award opportunities over the next 6–12 monthsGeopolitical risks and their impact on project execution and investmentProgress across NEOM,…
The appointment of project management consultants follows Adnoc Offshore recently awarding the main EPC contracts for the scheme, which involves raising the Upper Zakum field’s oil production potential to 1.5 million b/d 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
Cyprus has confirmed that ExxonMobil (60% op) and QatarEnergy (40%) are in looking to expand their offshore Cyprus portfolio, adding more acreage to negotiations first revealed by MEES in May (MONDAY, May 15). Speaking in Nicosia on 30 June, President Nikos Christodoulides said discussions with the consortium over Blocks 4 and 10A are “progressing towards their successful completion.” (CONTINUED – 774 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 Source link
The United States (US) reimposed sanctions on Iranian oil on July 7, with a US official warning that Tehran’s attacks on vessels transiting the Strait of Hormuz were wholly unacceptable and would draw consequences, Reuters reported. Oil prices jumped more than 5% after the announcement. The US Treasury had authorized Iranian oil sales until August 21 under the accord with Tehran, but the decision shortens the wind‑down period, setting a new cutoff of July 17. The US action followed reports that three tankers had been struck by unidentified projectiles in or near the Strait of Hormuz in recent days, the…
Operator commits $2bn to fold ports, rail and logistics parks into a single platform, lifting Khorfakkan capacity to 5 million TEUs, three months after the port was struck by intercept debris and as the Strait of Hormuz comes under renewed attack 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
Egypt’s oil and gas sector is seeing increased interest from international investors Source link
The contract duration is three years Source link