Author: Rigs & Barge World
The Egyptian oil and gas sector has successfully added new wells to the gas production map in both the Mediterranean Sea and the Western Desert. In the Mediterranean, the second well in the West El-Burullus (WEB) offshore field was placed on the production map, increasing the field’s output from about 25 to 37 million cubic feet per day (mmcf/d). The project is being developed and produced through a local joint‑venture vehicle (PetroWeb) with Cheiron as the operator/lead developer. Production is planned to grow over 70 mmcf/d of natural gas following the connection of the third well in the coming days.…
The Greater Tortue Ahmeyim (GTA) LNG project offshore Mauritania and Senegal is operating at full capacity, its operators expect a strong year ahead. “The project ramped up to the floating LNG vessel’s nameplate capacity of 2.7 mtpa equivalent, averaging nameplate production through December 2025,” junior partner Kosmos said in its Q4 results on 2 March. (CONTINUED – 770 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
Kuwait Petroleum Corporation (KPC) has begun cutting crude oil production and declared force majeure amid ongoing disruptions to energy shipments through the Strait of Hormuz as the conflict between US and Iran enters its eighth day Reuters reported. The state-owned company said it reduced crude output and refining throughput as a precautionary measure due to escalating regional tensions and growing risks to tanker movements in the Arabian Gulf. KPC said the force majeure was declared due to explicit threats by Iran against the safe passage of vessels through the Strait of Hormuz, continued attacks on Kuwait and the near-total absence…
The conflict between the US and Iran highlights the vulnerability of Kuwait’s power sector. The generation fleet is old, and installed capacity has even shrunk in recent years, from 20.25GW in 2021 to 19.63GW. The emirate has been targeted by a huge number of Iranian missiles and drones over the past week, and it could struggle to rebuild lost capacity if any of its plants are damaged. (CONTINUED – 203 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…
Iran is experiencing the most uncertain leadership transition in the 47-year history of the Islamic Republic amid a power vacuum left by the US-Israeli lethal strike on its Supreme Leader Ayatollah Ali Khamenei. The country’s political leadership appears to have largely lost command and control of its armed forces and the remnants of the Islamic regime that survived the initial attacks are even more hardline than before. Their decisions, specifically the choice of the next supreme leader, will not only influence the prospects of reaching a ceasefire with Washington in the coming days and weeks, but possibly the nature of…
Most IOCs in Iraqi Kurdistan have shut in their oil fields after the US and Israel launched their military campaign against Iran on 28 February. The decision was proactive, given that the region’s fields have periodically suffered drone and missile attacks even during calmer periods. Kurdistan production fell by more than 70% from February levels to just under 70,000 b/d at the height of the shut-ins earlier this week. Kpler shows no Kurdish oil loading from Ceyhan since 2 March. (CONTINUED – 827 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve…
The joint US-Israeli strikes against Iran have sparked a regional conflagration to which no clean resolution looks likely. With US President Donald Trump expressing his desire for regime change, the Iranian government sees itself as engaged in an existential conflict and is striking hard against its neighbors in the Gulf Arab states in a bid to cause as much economic havoc as it can and raise the economic and political cost of the conflict for the US. The Iranian establishment has spent years preparing itself to survive a war of attrition with Israel and the US and through its support…
Rising military tensions between the US, Israel, and Iran are disrupting oil and gas supplies across the Middle East, intensifying fears over global energy security and renewed price volatility, Reuters reported. Iraq, the second-largest producer in OPEC, has slashed nearly 1.5 million barrels per day (mmbbl/d), about half of its total output, due to storage limitations and the absence of secure export routes, officials told Reuters. Authorities warned that as much as 3 million bpd, almost the country’s entire production capacity, could be shut in within days if exports fail to resume. In the gas sector, QatarEnergy has halted operations…
QatarEnergy has declared force majeure to several buyers after announcing a halt in the production of liquefied natural gas (LNG) and related products, according to a press release by the company. Force majeure is a legal clause that allows a company to temporarily suspend or cancel its contractual obligations when extraordinary events beyond its control prevent it from fulfilling them. Such events can include wars, natural disasters, government actions, or major supply disruptions. In these situations, the company is not held liable for failing to deliver under the contract. The company said the move follows its earlier decision to suspend…
President Vladimir Putin warned that Russia may halt gas supplies to Europe as energy prices surge following the escalating crisis involving Iran, according to Reuters. Speaking on March 4, Putin said the possibility was being considered as the European Union moves toward banning purchases of Russian pipeline gas by 2027 and restricting new short-term contracts for Russian liquefied natural gas (LNG) from April 2026. Global oil and gas prices have spiked after US and Israeli attacks on Iran and retaliatory strikes by Tehran against Gulf Arab neighbours. The conflict has disrupted shipping through the Strait of Hormuz and forced shutdowns…