Author: Rigs & Barge World

Saudi Aramco is investing record sums in developing its gas reserves in pursuit of an ambitious gas growth strategy. Last year, the company revised up its gas growth target from 60% to 80% by 2030 (against a 2021 baseline) due to increased expectations of domestic demand requirements. With Aramco the only supplier of gas into the Saudi market, this is creating a huge economic opportunity for the energy giant, which it expects will generate billions in additional cash flow by 2030. Speaking to MEES this week, Aramco’s EVP for Gas, Abdulkarim al-Ghamdi, described the investment case for large-scale gas development…

Egypt has exported 150,000 cubic meters of liquefied natural gas (LNG) from Idku liquefication plant and is headed to Canada via French TotalEnergies’ LNG Endeavour vessel, marking the first shipment of 2026. According to the Ministry of Petroleum and Mineral Resources (MoPMR), this step supports the country’s role as a regional Hub for gas trading as well as encourages foreign partners to pump more investments for increasing domestic gas production. Parallel to its global trade efforts, Egypt is expanding its regional influence through integrated energy networks. In January 2026, the MoPMR signed two Memoranda of Understanding (MoUs) with the Syrian…

Prime Minister Mostafa Madbouly has inaugurated a Chinese technology industrial complex dedicated to manufacturing components for renewable energy projects within the Suez Canal Economic Zone (SCZONE), according to a statement by the Cabinet. Located inside the Tianjin Economic-Technological Development Area (TEDA)  in Sokhna, the $116 million complex marks a strategic milestone in Egypt’s efforts to become a regional hub for green economy industries, aligning with Egypt’s Vision 2030. The inauguration, which took place at the start of the Prime Minister’s tour of the SCZONE, included the launch of two major production facilities. The first, EliTe Solar Suez Technology, focuses on…

In the dead of night on 6 January, the leader of the UAE-backed secessionist Southern Transitional Council (STC) fled Yemen. Aidarous al-Zubaidi boarded a vessel at the port of Aden and was transported to Somaliland before being flown to Abu Dhabi via Mogadishu, reportedly with the help of UAE Major General Awad al-Ahbabi. The midnight escape marked a dramatic reversal in the fortunes of the UAE-backed STC. Days earlier the group appeared poised to consolidate control over swathes of strategic and oil-rich territories in Yemen’s east, positioning itself to exert leverage on the internationally recognized government (MEES, 5 December 2025).…

US President Donald Trump said he might block Exxon Mobil from investing in Venezuela after its CEO told him the country was currently unsuitable for investment during a previous White House meeting with at least 17 oil executives. Trump said he was unhappy with Exxon’s response and was inclined to keep the company out of Venezuela because of its cautious comments. Exxon’s CEO Darren Woods explained to Trump that Venezuela would need durable investment protections and changes to its laws before it could attract investment, noting the country lacked adequate legal and commercial frameworks. Woods said that restoring investment there…

The Egyptian Mineral Resources and Mining Industries Authority (MRMIA) approved the issuance and renewal of 53 mineral exploration and exploitation licenses during the fourth quarter (Q4) of 2025. This regulatory action, covering the period from October to December, aligns with the Ministry of Petroleum and Mineral Resources’ (MoPMR) strategy to streamline mining operations and enhance the economic value of the nation’s mineral wealth. Minister of Petroleum and Mineral Resources Karim Badawi endorsed the approvals following a technical review by a specialized committee and the MRMIA Board of Directors, according to a statement by MoPMR. According to MRMIA, the decisions include…

The US government is now running Venezuela says President Donald Trump, after capturing President Nicolas Maduro on 3 January and extraditing him to the US. Energy Secretary Chris Wright says the US will now handle all Venezuelan oil exports “indefinitely,” which would afford it a level of control over another country’s energy sector, a notion unprecedented in recent times. Venezuelan officials have been quiet in response to these statements, and the country’s political outlook remains unclear. The US calculates that it can work with Maduro’s deputy Delcy Rodriguez, who has been sworn in as interim leader, through a combination of…

Scatec, a leading renewable energy solutions provider, has signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) to develop a solar power plant with a total capacity of 1.95 gigawatts (GW) and a Battery Energy Storage System (BESS) to store the generated power with a capacity of  3.9 gigawatt-hours (GWh). Under the agreement, Scatec will develop one integrated solar and BESS hybrid system designed to provide continuous, around-the-clock renewable baseload power. In addition, the company will develop two standalone BESS projects to support grid stability and essential network services. The combined capacity will represent the largest…

Nearly three years into the raging war between the Sudanese Armed Forces (SAF) and the rival paramilitary Rapid Support Forces (RSF), the catastrophic hits on Sudan’s energy infrastructure are coming faster than ever. With the RSF making key gains in the south in recent weeks, and the army consolidating control over the east and the Red Sea coastline, Sudan’s de facto partition is solidifying, with the two factions facing accusations of indiscriminate shelling and drone strikes against vital sites on both sides of the divided country (MEES, 12 September 2025). (CONTINUED – 1273 WORDS) Read this article for free Gain…

Egypt is undergoing a fundamental structural transformation in its petroleum and natural gas sectors. A recent report by Rystad Energy, an Oslo-based leading independent energy research and business intelligence company, highlighted how the country leads globally in licensing rounds for 2025-2026, addresses overdue payments to international oil companies (IOCs), and reforms gas pricing to foster partnerships. Those efforts have stabilized production and restored investor confidence, positioning Egypt as a partner of choice for energy investment in Africa. Building on this foundation, the report, titled “Egypt’s Gas Reset: Clearing Debts, Reviving Drilling, and Scaling Renewables,” highlights the government’s proactive stance in…