Author: Rigs & Barge World

The Ministry of Petroleum and Mineral Resources (MoPMR) has signed two Memoranda of Understanding (MoUs) with the Syrian Ministry of Energy to supply Syria with natural gas, petroleum products, and technical expertise. The MoUs were signed on the sidelines of Minister of Petroleum and Mineral Resources Karim Badawi’s meeting with a high-level Syrian delegation, headed by Deputy Minister of Energy for Oil Affairs Ghiath Diab, according to a statement by MoPMR. The first MoU establishes a framework for supplying natural gas to Syria for electricity generation, utilising Egypt’s national gas transmission network and Floating Storage and Regasification Units (FSRUs). The…

The Houthis’ campaign against maritime traffic in the southern Red Sea shone a spotlight on an often overlooked but critical region. But while the wholesale diversion of global shipping from the Red Sea since early 2024 attracted global attention, few focused on the continuing build out of military bases and commercial assets by a host of foreign powers in the region. The Houthi campaign is now on hold, yet recent events show that tensions continue to simmer on both flanks of the Red Sea and Gulf of Aden. Indeed, the effective neutering of Iran’s overseas influence by Israel in 2025…

The Trump administration plans to meet later this week with US oil company executives to discuss boosting natural gas and oil production in Venezuela following the removal of President Nicolas Maduro, a source familiar with the matter told Reuters. The talks are central to Washington’s efforts to reintegrate major US producers into Venezuela, where the government seized control of foreign-led energy operations nearly 20 years ago. Despite the planned meeting, industry sources from ExxonMobil, ConocoPhillips, and Chevron stated they have not yet held discussions with the White House regarding Venezuelan operations, contradicting recent claims from the administration. “Nobody in those…

Following the capture of the Venezuelan president and his wife, President Trump suggested during his first press conference that the United States would run the country. This off-the-cuff remark created significant ambiguity and left senior administration officials struggling to elaborate on the president’s official position.Meanwhile, the crisis in Venezuela persists. Sporadic gunfire and unidentified drones were reported in Caracas last night, amid rumours of friction between the military and the new government led by former Vice President Delcy Rodriguez. The ousted president, Nicolas Maduro, maintains a loyal following and is supported by government-sponsored armed gangs. Without alignment between the government…

Baker Hughes, an energy technology company, announced Monday the closing of the sale of its Precision Sensors & Instrumentation (PSI) product line to Crane Company. The transaction follows a divestiture agreement originally announced in July 2025. The PSI business includes the Druck, Panametrics, and Reuter-Stokes brands. These units provide precision measurement, sensing, and monitoring technologies used in energy, industrial, and aerospace applications. According to a Baker Hughes press release, the products are designed to deliver high-accuracy data for pressure, flow, natural gas, and radiation measurement in critical operating environments. Baker Hughes noted that this divestment, combined with the recently finalized…

Egypt LNG imports surged to a new all time high in 2025, with volumes more than tripling year-on-year to 8.92mn tons according to Kpler data. LNG imports only resumed in 2024 for the first time in four years, but the return has been turbocharged by the pace at which domestic production is declining. After importing 2.79mn tons in 2024 (including via Jordan’s import terminal), few envisioned last year’s surge to 8.92mn tons. The previous record was 7.53mn tons in 2016, and last year’s figure was up 19% on that. (CONTINUED – 881 WORDS) Read this article for free Gain access…

One year ago if asked which country, Lebanon or Syria, was better set for a major economic turnaround in 2025, most observers would likely have said the former. The Iran-backed Hezbollah militia had been severely weakened by its conflict with Israel, and a coalition was slowly forming to nominate a more neutral (and pro-western) president. This duly occurred in January 2025 with the election of Joseph Aoun and the formation of a technocratic cabinet (MEES, 17 January 2025). Syria, on the other hand, looked an utter shambles. Sunni anti-regime forces under Ahmed al-Jolani (later to become President al-Sharaa) were successfully…

Dana Gas, the Middle East’s largest private sector natural gas company, has received a $50 million payment from the Egyptian government, reducing overdue receivables, according to a press release issued by the company on January 5, 2026. This payment supports the company’s ongoing drilling program under the consolidation agreement signed with Egypt in December 2024. It optimized fiscal terms and designated additional acreage for exploration to incentivize new upstream investment in the Nile Delta and Mediterranean regions. Since the program commenced, Dana Gas has drilled four wells that added approximately 18 million standard cubic feet per day (mmscfd) of production…

Bahrain’s government is moving to tackle the sensitive issue of energy subsidies as it faces up to its precarious oil and gas balances. Gas production peaked in 2024 at an annual average of 2.60bn cfd, and the latest Jodi data shows that as of October, the 2025 full year average was set to fall to around 2.38bn cfd. US firm EOG Resources has been brought in to develop deep tight gas layers below Bahrain’s Awali field, but Bapco Energies CEO Mark Thomas recently told MEES that this project will only partially offset the decline in gas production (MEES, 7 November).…

Global energy analysts anticipate a gradual recovery in Venezuelan crude oil production following the U.S. strike and capture of President Nicolas Maduro, a development poised to reshape global supply dynamics, according to Reuters. US President Donald Trump announced that Washington would oversee the transition of the oil-rich nation while maintaining a strategic embargo. While the immediate impact on markets remains muted, the removal of the previous administration is seen as a primary step toward consolidating a new regulatory framework to attract the capital-intensive investment required for sector rehabilitation. Venezuela, once a major oil producer pumping up to 3.5 million barrels per day…