Author: Rigs & Barge World

Egyptian-UAE firm GoGas Holding has signed a Joint Development Agreement with Madkour Holding Group to establish a combined-cycle power plant in Nouakchott, Mauritania. The facility will be fueled by gas from the offshore Banda Tevet field, which is currently being developed by GoGas. The first phase of the plant is expected to begin generating electricity by the end of 2028, with an initial capacity of 200 megawatt (MW), reaching up to 365 MW. This step marks a major transformation in Mauritania’s energy sector, expanding the national electricity grid and strengthening the country’s role in the West African Power Pool (WAPP),…

Karim Badawi, Minister of Petroleum and Mineral Resources, reviewed the progress of the Egypt-Cyprus gas transport project, which aims to tie Cypriot Cronos gas field to Egypt’s natural gas liquefaction plants. This came during a meeting between Badawi and Pascal Breant, Managing Director of TotalEnergies for Egypt and Cyprus. They focused on strengthening their natural gas partnership and reviewed the latest updates on connecting the Cypriot Cronos field to Egyptian infrastructure, a project managed in collaboration with Eni. During the meeting, Badawi talked with Breant about the next phase of implementation. This partnership serves as a model for regional integration,…

As part of efforts to appoint new leadership to vacant positions following the retirement of their previous holders, Karim Badawi, Minister of Petroleum and Mineral Resources, has assigned Walid Ahmed Abdel Salam Hegazy as Chairman and Managing Director of the Petroleum  Marine Services company (PMS). Hegazy began his career as an engineer at Belayim Petroleum Company (Petrobel) in 2002, progressing through several positions before becoming General Manager for Projects at the company in 2019. In 2025, he was appointed General Manager for Projects at Shorouk Petroleum Company. PMS is the premier Egyptian offshore construction and services company,established in 2001. It…

President Donald Trump announced that his administration will tap the US Strategic Petroleum Reserve (SPR) to combat skyrocketing gas prices fueled by the ongoing conflict with Iran, according to CBS News. The move, confirmed by Energy Secretary Chris Wright, will see the United States release 172 million barrels of oil starting next week. The release is part of a massive, coordinated effort by the 32-member International Energy Agency (IEA) to inject a total of 400 million barrels into the global market; the largest emergency release in the organization’s history. Trump addressed rising gas prices in an interview with WKRC, a dual…

Saudi Aramco is offering buyers the option to load crude oil from its Red Sea terminals at Yanbu, rather than the primary Gulf terminals at Ras Tanura. The move comes as tanker transits through the Strait of Hormuz have slowed to a virtual standstill (MEES, 6 March) due to the conflict between the US-Israeli alliance and Iran. “Aramco has adjusted crude cargo operations to prioritize safety, service continuity, and help ensure reliability, temporarily redirecting allocated volumes to Yanbu as an option for customers unable to enter the Arabian Gulf,” an Aramco spokesperson told MEES. “We remain fully committed to supporting…

Crude oil prices rose again on Thursday despite record-breaking government interventions on Wednesday in light of the attack on oil tankers and refineries across the Middle East. On Wednesday, three oil tankers were reportedly attacked in the Strait of Hormuz, the narrow waterway through which over 20% of the global oil supply flows. Then, at night, a major oil refinery in Oman as well as three Iraqi oil tankers in its own territorial waters were attacked. The brazen attacks on oil tankers overshadowed the impact of the largest ever coordinated release of oil from reserves. The IEA, an International Energy Agency comprising…

Iranian crude oil has kept flowing through the Strait of Hormuz at near-normal levels, despite Tehran-linked attacks on ships that have slashed exports from other Gulf nations, according to a Reuters analysis of tanker tracking data. Since the joint US-Israeli strikes on February 28, Iran has exported approximately 13.7 million barrels of crude oil. These figures come from TankerTrackers.com, a maritime intelligence firm that monitors the “shadow fleet”, a clandestine network of vessels designed to bypass Western sanctions on oil and gas exports. While other firms reported lower figures, Kpler’s tracking data suggests a more aggressive flow, with Iranian exports…

The closure of the Strait of Hormuz has sent shockwaves through oil and gas markets, but it is also having a profound impact on supplies of other products from the region. The region is also a huge supplier of petrochemicals, and the biggest supplier of all is Saudi Arabia’s Sabic. The Saudi giant’s operations are at risk of being highly impacted by the closure of Hormuz, as it routinely exports products from Jubail Port on the Gulf coast to markets across the globe. (CONTINUED – 340 WORDS) Read this article for free Gain access to over 60-years of energy analysis…

The Egyptian Natural Gas Holding Company’s (EGAS) Executive Managing Director, Sayed Selim, visited the headquarters of Egypt Gas and the Natural Gas Vehicles Company (Cargas) to monitor work progress and performance levels. Selim ensured strict compliance with health, safety, and environment (HSE) standards across all projects. During the visit, Selim followed up on execution rates for both companies, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). He reviewed Egypt Gas’s plans for connecting natural gas to households and Cargas’s efforts to expand vehicle conversions. The managing director emphasized the importance of aligning performance with MoPMR expansion…

International oil majors, Chevron and Shell, are nearing agreements to expand oil and gas production in Venezuela, marking the first major deals since the US capture of President Nicolás Maduro in January, five sources familiar with the negotiations said to Reuters. The potential agreements are part of a broader plan backed by US President Donald Trump to rebuild Venezuela’s oil sector through an estimated $100 billion investment effort after years of underinvestment and mismanagement under Maduro and his predecessor, Hugo Chávez. Under the proposed terms, Chevron would gain rights to produce in the Ayacucho 8 block located south of its…