Author: Rigs & Barge World
Long-underutilized, Middle East electricity interconnections came to the forefront in 2025 due to Kuwait’s chronic power shortages. 2026 is … Source link
As markets prepare to open tomorrow, analysts and investors are closely monitoring the fallout from the high-profile U.S. nocturnal raid that captured Nicolás Maduro and his wife. While the operation initially sparked euphoria, that sentiment is rapidly shifting toward anxiety as the short-term market implications remain uncertain.President Trump’s subsequent victory speech did little to stabilize nerves. His declaration that “the US will run post-Maduro Venezuela” has caused international alarm, resonating far beyond autocracies or nations facing criminal charges. This assertive stance has specifically unsettled authorities in Greenland and Denmark, reviving concerns about Trump’s previous interests in Greenland’s strategic value as…
India has directed its oil refiners to submit weekly disclosures of crude oil purchases from Russia and the United States, a first-of-its-kind move intended to provide the Prime Minister’s Office with verified data for ongoing trade negotiations with Washington, sources familiar with the matter told Reuters. Issued through the Petroleum Planning and Analysis Cell (PPAC), the mandate aims to replace third-party estimates with official figures, thereby easing diplomatic friction over India’s energy sourcing. The data-sharing initiative comes as Indian officials anticipate that Russian crude imports will drop below one million barrels per day (mmbbl/d) in the coming months—a significant decline…
Karim Badawi, Minister of Petroleum and Mineral Resources, signed a Memorandum of Understanding (MoU) on January 4 with Saad bin Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and CEO of QatarEnergy, to secure a steady supply of liquefied natural gas (LNG) to Egypt. In a decisive step toward consolidating Egypt’s energy security, the Egyptian Natural Gas Holding Company (EGAS) and QatarEnergy finalized an executive mechanism for the delivery of natural gas cargoes to be delivered in Ain Sokhna and Damietta ports throughout the summer of 2026. This MoU reinforces the strategic partnership between Egypt and Qatar in energy.…
Saudi Arabia’s crude oil and refined products exports jumped by more than 400,000 b/d in October to a 30-month high of 8.359mn b/d as the impact of production increases was magnified by falling domestic demand. This offset a sharp monthly fall in oil prices, and Saudi oil export revenues rose to a nine-month high of $18.7bn for the month. For Saudi Arabia, the strategy of accelerating the unwinding of voluntary Opec+ production cuts in 2025 has paid off. The production increases are being paused for Q1 when global demand is seasonally weak, but could resume again from April (MEES, 2…
Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italy’s Eni, has drilled Dorra-36 and West Yasmine-3 new wells in its Western Desert concession, kicking off its 2026 drilling campaign. According to the Ministry of Petroleum and Mineral Resources (MoPMR), the move is part of an accelerated strategy to offset natural decline and maximize recovery of mature basins through advanced geological evaluation. Initial testing of the two new wells showed an estimated combined production of 1,650 barrels of crude oil per day (bbl/d) and approximately 19 million standard cubic feet per day (mmscf/d) of natural…
Tunisia ended 2025 on a high note, commissioning its largest solar power plant yet. The government also approved tenders for 2.35GW new solar and wind projects for 2026. Renewables accounted for a record 5.1% of power generation in 2024, a figure that it is unlikely to have been improved on by much last year. Progress has been slow in recent years as financing delays have held up projects, but the government will be hopeful that it is now on the right track as it pushes towards its target of 35% renewables by 2030. (CONTINUED – 669 WORDS) Read this article…
Egypt is due to receive approximately $2.7bn from the IMF this month as part of two ongoing agreements. $2.5bn is due to be released once the IMF board approves the disbursement, following the completion of the fifth and sixth reviews of Egypt’s economy as part of an $8bn Extended Fund Facility loan agreed in March 2024 (MEES, 8 March 2024). The remaining $200mn will be released after the first review of a resilience and sustainability facility (RSF) that provides Egypt with access to $1.3bn (MEES, 14 March 2025). (CONTINUED – 331 WORDS) Read this article for free Gain access to…
After years of delays, Iran is now making progress in commissioning the technically challenging 320,000 b/d South Azadegan Central Treatment Export Plant (CTEP). The second of four 80,000 b/d trains was brought online in December, bringing the facility’s capacity up to 160,000 b/d, the oil ministry’s Shana news agency reports. The remaining two trains (A and B) are undergoing mechanical completion and should enter service by March 2026 (MEES, 28 November 2025). The CTEP facility is a key project for Iran as it targets capacity gains from Azadegan and the other fields in the West Karun cluster. This cluster is…
On 29 December, Saudi Arabia’s Acwa Power announced that it has entered into multiple Share Purchase Agreements (SPA) in China for the acquisition of 1.25GW of wind power projects. This includes one operational facility with 250MW capacity and four under-construction assets with combined capacity of 1GW. In a statement to the Tadawul, Acwa said it had previously announced entry into China with a development pipeline of 1GW of renewable energy projects, “out of which 333MW satisfied Acwa Power conditions and were added to the company’s operational portfolio.” (CONTINUED – 118 WORDS) Read this article for free Gain access to over…