Author: Rigs & Barge World
The EBRD has approved a $475mn loan for Jordan’s $6bn planned Aqaba-Amman Water Desalination and Conveyance Project (AAWDCP). The Reverse Osmosis (RO) plant is intended to deliver 300 mcm/y of desalinated water from Aqaba to Jordan’s population centers, meeting around 40% of domestic demand by 2030. The loan was approved on 23 Apil. EBRD Vice President Matteo Patrone described the project, also known as the National Water Carrier project, as “critically important” to Jordan’s long-term water resilience, and described the finalization of technical and legal agreements with project developer, France’s Meridiam, as a key step toward implementation of the Public…
Karim Badawi, Minister of Petroleum and Mineral Resources, issued a reshuffling of assignments that included the heads of certain companies in the petroleum and mineral resources sector. The aim is to strengthen petroleum sites with the necessary competencies to achieve future objectives and to facilitate the exchange of expertise, according to the Ministry of Petroleum and Mineral Resources (MoPMR). The reshuffle included positions left vacant, or soon to be vacant, as their holders retire. Hebat Allah Mohamed Abdel Qader Ali Hassan has been appointed Chairperson and Managing Director of Nile Petroleum Company. She held several progressive roles within the sector,…
The United Arab Emirates’ (UAE) decision to exit OPEC and the wider OPEC+ alliance poses a significant upside risk to global oil supply over the medium term, Goldman Sachs, a leading global investment banking firm, reported. According to Reuters, the bank noted that while immediate impacts are limited by current geopolitical constraints, the move weakens the producer group’s control over global inventories and grants Abu Dhabi greater autonomy over future output levels. The bank’s base case currently anticipates that UAE crude production will recover to 3.8 million barrels per day (mmbbl/d) by October 2026, up from 3.6 mmbbl/d recorded before…
The Organization of the Petroleum Exporting Countries and allies (OPEC+) will maintain cooperation despite the United Arab Emirates’ (UAE) withdrawal, Russia’s Deputy Prime Minister Alexander Novak announced, according to Reuters. Novak emphasized that he does not foresee an oil price war following the UAE’s departure, pointing instead to the prevailing global oil supply deficit. The UAE announced its withdrawal from OPEC, delivering a significant setback to the producers’ alliance at a time when an unprecedented energy crisis, sparked by the Iran war, has laid bare divisions among Gulf states. The UAE ranked as the fourth‑largest producer within OPEC+, the alliance…
The Ministry of Petroleum and Mineral Resources (MoPMR) is advancing negotiations with France’s TotalEnergies over expanded gas exploration in the deep Herodotus Basin of the Western Mediterranean, with both sides aiming to finalize a memorandum of understanding (MoU) in the near term. This came in a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and Pascal Brian, Managing Director of TotalEnergies in Egypt and Cyprus. Badawi stressed the petroleum sector’s commitment to offering attractive opportunities for strategic partners to intensify natural gas exploration as a cornerstone of the ministry’s vision to gradually increase domestic production. The Mediterranean region…
As the crisis in the Strait of Hormuz continues without a sustainable solution, there are clear indications that the impact will spill into realms beyond energy supply. The price of fertilizer, for instance, is already increasing, which will in turn affect global food prices in the near future.Rise in fertilizer priceIn another development, reports from Brazil indicate that sugarcane farmers have seen an opportunity to capitalize on ethanol production during the present crisis. Brazil usually supplies around 45% of global sugar trade; however, mill owners can decide how much of the sugarcane harvest is diverted to ethanol versus sugar production.…
The National Gas Company (NATGAS), a subsidiary of Valmore Holding, has extended natural gas services to over two million households across Egypt, underscoring the company’s sustained growth and capacity to serve a broad segment of citizens. Building on more than 25 years of expertise, NATGAS has accelerated the expansion of its network across key governorates, including Cairo, Giza, Alexandria, and Beheira. This growth has enabled faster, more accessible energy services while upholding the highest standards of safety and operational efficiency. Today, the company supplies natural gas to over 12,000 commercial clients and nearly 900 industrial clients, underscoring its expanding role…
Algeria launched its long-awaited hydrocarbons bid round on 19 April, offering up seven “high-impact” blocks for bidding (see table). The blocks are mostly concentrated around existing oil and gas fields in the Berkine and Illizi basins (see map), with state upstream regulator Alnaft saying they lie in “highly active petroleum provinces, surrounded by mature fields, ongoing exploration, and development campaigns.” (CONTINUED – 1400 WORDS) 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
Iraq is moving forward with plans for the $5 billion Basra–Haditha crude oil pipeline, establishing a high-level commission to oversee development of the strategic project, Oil & Gas Middle East reported. Iraqi Prime Minister Mohammed Shia’ Al-Sudani has ordered the formation of the commission, to be chaired by the Oil Ministry’s Undersecretary and composed of specialized advisers alongside senior officials from the oil industry and minerals ministries. The government has approved an allocation of $1.5 billion for the project this year, to be financed through the Iraq–China oil-for-infrastructure mechanism, according to a statement from the Prime Minister’s Office. The Basra–Haditha pipeline is…
Yasser Ramadan, Chairman of the Egyptian Mineral Resources and Mining Industries Authority (MRMIA), convened a series of high-level meetings with Turkish and American officials to bolster Egypt’s mining sector. These discussions, held on the sidelines of the Organization for Economic Co‑operation and Development (OECD) Critical Minerals Forum in Istanbul, focused on creating an attractive investment environment through international partnerships. During the forum, Ramadan also met with Mike Kopp, Senior Advisor to the US Secretary of Energy. The discussions explored joint opportunities in mining and critical minerals while leveraging American technical expertise. Notably, the US side expressed significant interest in organizing a…