Author: Rigs & Barge World
Libya’s oil output and exports are the highest in more than a decade as the country welcomes new output gains and renewed international interest in its upstream sector as it recovers from years of unrest (MEES, 5 September). According to the latest figures from data intelligence firm Kpler, crude and condensate exports averaged 1.21mn b/d for 3Q 2025, a 48% increase year-on-year and the highest quarterly figure since the country’s 2011 revolution. (CONTINUED – 902 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…
Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), visited Petrobakr Petroleum Company, a joint venture between EGPC and Vaalco Energy, to follow up on the implementation of work plans and to motivate employees and encourage them to exert efforts to meet the Ministry of Petroleum’s goals to increase Egypt’s oil and natural gas production. The visit, attended by leaders from EGPC, Vaalco Energy, and senior executives at Petrobakr, began with a presentation on occupational safety, environmental protection, exploration, operations, and ongoing projects. Khaled Mounir, Chairman of Petrobakr, gave a presentation that shed light on the company’s performance…
Media release: Building a smarter tax system for Australia’s resource economy in focus at the Energy & Minerals Tax Conference 2025 | Australian Energy Producers Skip to content Source link
Swiss commodities trading giant Gunvor has had its planned acquisition of Lukoil’s international assets blocked by the US. Lukoil had announced the deal for its €19.1bn ($22bn) international portfolio on 30 October (MEES, 31 October), but in an incendiary 6 November post on X, the US Treasury Department posted “As long as Putin continues the senseless killings, the Kremlin’s puppet, Gunvor, will never get a license to operate and profit.” Although Gunvor’s origins lie in the post-Soviet trading of Russian oil, the firm has sought to distance itself from the Kremlin since Russian co-founder Gennady Timchenko exited in 2014 just ahead…
Egypt’s Ministry of Public Enterprise Sector has announced progress in developing a major green ammonia production facility in Suez, following high-level talks between Minister Mohamed El-Shimy and executives from Envision Energy, a Chinese company specialized in wind turbines manufacturing, and Benchmark Power International, an investment platform focused on integrating renewable energy into green hydrogen. The meeting, held at the ministry’s headquarters in the New Administrative Capital, brought together Envision Energy Vice President Frank Yu and Benchmark Power Chairman Ahmed Bahgat, alongside senior officials from the Chemical Industries Holding Company (CIHC) and El Nasr for Fertilizers and Chemical Industries (SEMADCO). The…
The Egyptian Chemical Industries Company (KIMA), a listed fertilizer producer, recorded a net profit after tax of approximately EGP 482.7 million during the first quarter (Q1) of the fiscal year (FY) 2025/2026, marking a 1,164.59% leap compared to its level in the same period of the previous year. The profit surge was driven primarily by higher revenues from sales and foreign currency differences. The company’s operating profit also climbed substantially to EGP 524 million, compared to EGP 71 million a year earlier. KIMA also increased its urea exports during the quarter to 30,250 tons, up from 22,600 tons in the…
Egypt’s need for more gas has pushed it to offer up frontier and largely unexplored regions in recent years. Cairo was able to attract majors Chevron and Shell into taking blocks in the country’s Red Sea in 2019, but both subsequently relinquished their acreage (MEES, 31 October). This presented Egypt with the opportunity to carve up a portion of its northern Red Sea region into four large blocks that were included in a bid round launched on 4 November (see map). (CONTINUED – 558 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news…
Middle Eastern oil producers, including Saudi Arabia, Iraq, and Kuwait, will increase crude oil shipments to India in December. This strategic move allows the Organization of the Petroleum Exporting Countries (OPEC) members to reclaim market share as Indian refiners pivot from Russian supplies due to tightening Western sanctions. The shift follows a pause in purchases from Russia by many Indian refiners after the United States (US), the European Union (EU), and the United Kingdom (UK) imposed fresh sanctions on top Russian producers, including Rosneft and Lukoil, last month. The sanctions disrupted typical trade flows, prompting buyers in the world’s third-largest oil…
Karim Badawi, Minister of Petroleum and Mineral Resources, has appointed Alaa El-Din Abdel Fattah as the new Chairman of the Egyptian Petrochemicals Holding Company (ECHEM). He will assume the position on January 1, 2026, succeeding Ibrahim Mekki. El-Din Abdel Fattah began his career as a chemist at Alexandria Petroleum Company in 1993. He rose through the ranks until he became Assistant General Manager for Operations at the Egyptian Linear Alkyl Benzene Company (ELAB) in 2010. He then served as General Manager for Paraffin and Alkyl Production in 2017 and was appointed Chairman and Managing Director of ELAB in 2024. Badawi…
Adnoc is bullish on the long-term outlook for its core oil and gas offerings, as it invests in expanding crude oil production to 5mn b/d by 2027 and sustaining it there for the foreseeable future. “LNG will grow by 50 percent…oil [demand] will stay above 100 million barrels per day beyond 2040,” CEO Sultan al-Jaber told Abu Dhabi’s flagship Adipec conference on 3 November. Crude oil capacity currently stands at 4.85mn b/d, although associated gas processing capacity is lagging, limiting Adnoc’s ability to fully tap into its wellhead capacity without resorting to flaring. The Adnoc Gas subsidiary is charged with…