Author: Rigs & Barge World

Q1 was a testing period for Israel’s two refineries: the 197,000 b/d Bazan in Haifa in northern Israel and the 100,000 b/d Ashdod in the south. Combined refinery output averaged 253,000 b/d over the quarter, operating at 85% of CDU capacity, despite missile attacks on Bazan and maintenance work at Ashdod (see chart 1). 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

Iran has announced that it is moving forward with plans to coordinate with Oman on the administration of the Strait of Hormuz, one of the world’s most important oil transit routes. Foreign Minister Abbas Araghchi said the initiative aligns with international law, stressing that both countries, as coastal states on the waterway, have a legitimate role in its oversight. He dismissed US positions that classify the strait as international waters guaranteeing unrestricted passage for all shipping. He added that regional countries bordering the Gulf would be consulted, while governance decisions would ultimately be made jointly by Iran and Oman. Araghchi…

Algerian state-owned energy company SONATRACH has launched construction of its part of the Trans-Saharan Gas Pipeline (TSGP), advancing a long-standing project aimed at transporting Nigerian natural gas to European markets, noted a statement by the company. The TSGP is jointly developed by SONATRACH, the Nigerian National Petroleum Company (NNPC), and Niger’s SONIDEP. The project is expected to establish a new export corridor for African natural gas, linking Nigeria, Niger, and Algeria before connecting to existing export infrastructure serving international markets, particularly Europe. The pipeline will run along the Trans-Saharan Road corridor from the Algerian-Nigerien border to Algeria’s National Gas Dispatching…

The Kuwaiti government has approved the merger of KPC’s two state-owned refining firms Kipic and KNPC, consolidating its 1.45mn b/d refining sector under a single corporate structure. The decision made by the Supreme Petroleum Council in April and published in the government gazette on 31 May would see KNPC taking over Kipic’s 615,000 b/d Al Zour refinery and the nearby 22mn t/y LNG import terminal. The merger has long been planned and forms part of a broader corporate restructuring of KPC’s subsidiaries (MEES, 12 April 2024). (CONTINUED – 796 WORDS) Read this article for free Gain access to over 60-years…

The price of oil surged by 3% to 5% mid-week as a military stand-off between the United States and Iran led to a fresh flare-up despite an existing temporary ceasefire. Prices for the main benchmarks, West Texas Intermediate and Brent, had been on a downward trajectory since the previous week. This initial drop came in response to optimistic declarations from the Trump administration regarding a potential diplomatic deal. However, the deal failed to materialize, complicating the landscape for both global oil producers and consumers, particularly after Iran explicitly denied the American narrative.The military conflict in the region follows a well-documented tactical…

Chinese battery manufacturer CATL expects energy storage solutions to account for 50% of its global sales by 2030, up from around 25% currently, according to Reuters. Kevin Tang, CATL’s Director of Energy Storage Systems for Europe, noted that the energy storage segment has expanded rapidly, rising from just 2% of the company’s battery sales five years ago. While CATL remains primarily focused on lithium-ion batteries for electric vehicles, which currently generate about three-quarters of its revenue, growing demand for renewable energy integration is driving demand in battery storage applications. “Once we have more renewable energy, we need energy storage,” Tang…

Across the Middle East, countries rely to varying degrees on gas for power generation, with demand increasing substantially in the hot summer months when residents turn on air conditioning units. The Israel-US conflict with Iran that broke out on 28 February has complicated summer electricity plans through the region, with the closure of the Strait of Hormuz having several knock-on effects, including a reduction in associated gas production as oil fields were shut down (MEES, 6 March). This impacts the various Gulf states in different ways, with Iraq the most exposed, while the UAE’s more diverse power mix leaves it…

Israel Key Combined Solar & Storage Capacity 1: Israel Installed Capacity (GW): Renewables Rise 20% To 8.2GW At End-2025 2: Solar PV Continues To Make Up The Lion’s Share Of Israel’s Renewable Installed Capacity (GW) 3: Israel’s Power Sector Liberalization Gathers Pace: Conventional IPPS Overtake IEC In 2025 (GW) 4: Israel Power Generated (TWh): Gas And Renewables Hit Records For 2025 As Coal Reduced To Just 9% Of Fuel Mix Source link

The ongoing Hormuz crisis has attracted widespread international attention due to its impact on the Middle East’s exports of crude oil, refined products, LNG, fertilizers and a host of other key commodities. But the conflict has also disrupted imports, with the impact varying considerably across the region. As with exports, Saudi Arabia and the UAE have been the least affected of the GCC states as they have ports outside the Strait of Hormuz through which they can partially re-route imports. Bahrain, Qatar and Kuwait have no such ports but have been able to receive goods through their neighbors’ facilities. (CONTINUED…

The Egyptian Cabinet approved a draft law that cancelled the exemption of natural gas from the value-added tax (VAT), making it subject to a table tax of EGP 20 per 1,000 cubic feet (cf). This comes as part of a wider plan to increase state revenues and widen the tax base. The Egyptian Tax Authority (ETA) clarified that the tax amendments -to be referred to the parliament for review-  will not result in higher household gas prices or impose additional financial burdens on consumers. Rasha Abdel Aal, Head of the ETA, explained in a statement that the proposed amendments are…