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Middle East Gulf crude and condensate exports rose sharply during the first half (H1) of July, reaching their highest level since before the outbreak of the Iran war in late February, supported by a temporary easing of tensions between the US and Iran, according to shipping data from Kpler and Vortexa, reported by Reuters. Crude and condensate exports from Saudi Arabia, the UAE, Iraq, Kuwait and Iran increased by about 16% from June’s daily average to 12 million barrels per day (mmbbl/d) during H1 of July, according to Kpler. Vortexa estimated exports at an even higher 13.06 mmbbl/d over the…
As the US continues its mediation efforts to bring Libya’s rival factions to work together, a unified Libya is proving harder to achieve. An… Source link
Alaa El-Din Abdel Fattah, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), inspected the industrial complex of its affiliate, the Egyptian Ethylene and Derivatives Company (ETHYDCO). The facility produces ethylene and polyethylene, which are utilized across numerous downstream industrial applications. Abdel Fattah met with employees and expressed his gratitude for their efforts in sustaining operations, stressing the need to adhere to safety instructions and to promptly report any risks that may threaten individuals or equipment, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). As part of the visit, ECHEM convened the fourth regular meeting of…
The Energy and Environment Committee of Egypt’s House of Representatives, chaired by Tarek El Molla, has approved a government-drafted law authorizing the Minister of Petroleum and Mineral Resources to conclude an exploration and production (E&P) agreement between the Egyptian Natural Gas Holding Company (EGAS) and Cheiron for the East Alexandria Offshore block in the Mediterranean Sea, El Mal Newspaper reported. Under the proposed production sharing agreement (PSA), EGAS will receive a non-refundable signature bonus of $1 million. The agreement also requires the contractor to commit a minimum investment of $42.2 million, including the drilling of three exploration wells and the…
Abu Dhabi state renewables firm Masdar is moving ahead with its pioneering ‘round-the-clock’ (RTC) project that is intended provide 1GW of continuous baseload clean low-carbon power. On 13 July, Masdar announced that it had reached financial close for the $6.1bn project being built on a 60km2 area next to the 1.58GW Al Dhafra solar PV plant. The project was first unveiled in January 2025, when it was to be built further south in Azeezah (MEES, 17 January 2025), and Masdar broke ground in October. It comprises 5.2GW of solar PV capacity and 19GWh of battery energy storage (BESS) at two…
A consortium comprising Petroleum Projects and Technical Consultations Company (PETROJET) and The Engineering for the Petroleum and Process Industries Company (ENPPI) has secured a long-term Engineering, Procurement, and Construction (EPC) Framework Agreement with Petroleum Development Oman (PDO), the country’s largest oil and gas exploration and production company. The six-year agreement positions the PETROJECT–ENPPI consortium as one of four international consortia and contractors qualified to compete for project execution through competitive tenders within a project portfolio valued at over $6 billion. This achievement aligns with the Ministry of Petroleum and Mineral Resources strategy to open the door for local oil and gas…
Adnoc has increased supplies of seaborne crude oil and condensate to the 837,000 b/d Ruwais refining complex to the highest level since August 2025. Tanker supplies averaged 193,000 b/d last month and are in excess of 200,000 b/d over the first half of July, Kpler data shows. Tanker supplies are now running at the highest level since Adnoc opted to switch out offshore grades with its flagship Murban crude from last August in order to support Murban export prices (MALE, 6 June 2025). As Murban is delivered via pipeline, tanker deliveries plummeted from around 300,000 b/d to just 41,000 b/d…
Tensions between the United States and Iran escalated sharply on Saturday following a combined drone and missile strike by Iran on U.S. military bases in Jordan, which resulted in the deaths of two U.S. servicemen and left several other soldiers with serious injuries. In retaliation, U.S. Central Command conducted its eighth consecutive military assault, striking targets deep within southwestern Iran. These operations have hit radar stations, missile and drone storage sites, military installations, bridges connecting Bandar Abbas to the mainland, communication networks, and power plants.Military analysts suggest this pattern of activity may serve as a prelude to a potential ground…
Officials from the Ministry of Petroleum and Mineral Resources (MoPMR) conducted an inspection visit to the phosphate production sites of the New Valley Mineral Resources and Oil Shale Company (Wadico) in the El Shaghab area of Edfu, Aswan Governorate, as part of the ministry’s strategy to advance Egypt’s mining sector. WADICO’s phosphate operation is located in the Al-Jira area of Esna, west of El Sebaia, covering a concession area of 9.1 square kilometers (km). Crushing operations began in October 2014, and the site has extracted and stockpiled approximately 2.2 million tons (m/t) of phosphate ore. The mine currently holds operational…