Author: Rigs & Barge World
Russia’s state-controlled energy giant Gazprom has shipped a liquefied natural gas (LNG) cargo to China from its Portovaya LNG facility, marking the first apparent delivery since the US imposed sanctions on the project earlier this year, Reuters reported. The cargo was transported by the tanker Valera—previously named Velikiy Novgorod—which departed from the Portovaya terminal on the Baltic Sea on October 28 and discharged at the Beihai LNG import terminal in southern China. The Chinese terminal is also utilized by Novatek, Russia’s leading LNG producer, for deliveries from its Arctic LNG 2 project. Portovaya LNG, a small-scale plant with a production…
Opec+ is entering a new era with an agreement for a third-party assessment of each member state’s production capacity (MEES, 5 December). But with a US firm set to be awarded the contract to carry out the assessments, there is a complication. Three members – Iran, Venezuela and Russia – are all subject to US sanctions, and so alternative arrangements have been established for them to still participate in the process. Each country was provided with two options on how to proceed. (CONTINUED – 198 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…
El Wastani Petroleum Company (WASCO) has drilled the North El-Basant–1 exploratory well in the Nile Delta, uncovering an estimated 15–25 billion cubic feet (bcf) of additional natural gas reserves according to initial results. The company is currently completing procedures to bring the well online, with expected production reaching around 10 million cubic feet per day (mmcf/d), according to the Ministry of Petroleum and Mineral Resources. This step is part of the ministry’s effort to reduce the gap between production and consumption by encouraging investment partners to intensify the drilling of exploratory wells. WASCO is a joint venture between UAE Dana…
Aramco and ExxonMobil have entered into a Venture Framework Agreement (VFA) with their joint venture, Saudi Aramco Mobil Refinery (SAMREF), to explore a major expansion and upgrade of the Samref refinery in Yanbu, Saudi Arabia, aiming to transform it into an integrated petrochemical complex. According to a statement by Aramco, the project review will assess potential investments to enhance production of lower-emission premium distillates and high-performance chemical products. The proposed expansion also includes a coordinated strategy to reduce the site’s operational emissions. The partners will now initiate a preliminary front-end engineering and design phase to evaluate how the project could…
Forces from the Southern Transitional Council (STC) in Yemen launched a rapid offensive on 30 November, advancing into the oil-rich inland areas of Hadhramaut under operation “Promising Future.” The offensive displaced military and tribal forces and brought key oil fields under their control, shaking up Yemen’s balance of power. The displaced forces, that also were nominally under the broad umbrella of the internationally-recognized government, draw support from the local Islamist Islah party and are broadly aligned with Saudi Arabia. Tribal elements within Hadhramaut under the leadership of Amr bin Habrish had also this year been pushing for greater autonomy using…
Norwegian renewable energy company Scatec has signed shareholder agreements with Norfund and renewable energy developer EDF Power Solutions to partner on the Obelisk hybrid project in Egypt. The project includes a 1.1-gigawatt (GW) solar plant and a 100-megawatt (MW) / 200-megawatt-hour (MWh) battery storage system. Located in Nagaa Hammadi near Luxor, the project will be completed in two phases during 2026 and will supply electricity to Egypt’s national grid under a 25-year power purchase agreement (PPA), according to a statement by Scatec. Under the terms of the deal, Norfund will acquire a 25% stake in the project’s holding company, with Scatec…
U.S. oil hedging protects 800,000 bbls/d in Q4 2025 and Q1 2026 Source link
Moroccan state power firm ONEE has launched a tender for a 1,000km high voltage direct current (HVDC) transmission line linking the central region of Tensift to the southern city of Boujdour in the disputed Western Sahara Territory (see map). 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
Egypt’s largest offshore marine and oil support services provider, Maridive and Oil Services, has secured a 15-year contract in Qatar to provide maintenance and production support services, starting in the first quarter (Q1) of 2028, according to a release by the company to the Egyptian Stock Exchange. The contract, awarded to the company’s subsidiary Maridive Offshore Projects, carries an annual value of $10.15 million. The release noted that the deal ” is considered a testament to the company’s credibility and competence, reflecting its strong track record in serving diverse clients and meeting their varied requirements in executing major projects within…
TotalEnergies has reached an agreement to merge its UK upstream operations with NEO NEXT Energy Limited, creating a newly expanded company to be renamed NEO NEXT+ in a deal expected to close in the first half (H1) of 2026. Under the terms of the transaction, TotalEnergies will become the largest shareholder in NEO NEXT+ with a 47.5% stake, alongside partners HitecVision (28.875%) and Repsol UK (23.625%), according to a press release by TotalEnergies. The consolidated entity is projected to become the largest independent oil and gas producer in the UK, targeting production of more than 250,000 barrels of oil equivalent…