Author: Rigs & Barge World
The fragile US-Iran ceasefire appears to be broadly holding, despite Iran’s continued control over the Strait of Hormuz and contradictory statements from both sides over its terms. That talks in Islamabad, Pakistan, are still scheduled to start on 11 April in these circumstances is arguably a positive sign that both sides are seeking a negotiated settlement. Still, the US and Iran remain far apart in their stated negotiating positions, while Israel is a wildcard with its own objectives that could yet disrupt the talks if it deems unacceptable any concessions that Washington might offer to Tehran. Israeli Prime Minister Benjamin…
Baker Hughes is accelerating its strategic involvement in underground natural gas storage projects in collaboration with the Ministry of Petroleum and Mineral Resources (MoPMR), according to Amro Ismail Elsharkawi, the company’s Country Director. The initiative aims to leverage Egypt’s geological potential to enhance the state’s capacity as a regional natural gas hub while driving production through advanced digital platforms. Speaking in a recent interview with Petrocast, the MoPMR’s podcast, Elsharkawi reported that the company is working directly with the ministry and the Egyptian Natural Gas Holding Company (EGAS) on subsurface storage feasibility. These projects are considered vital to the national strategy…
Media release: Gas tax proposal would make Australia “uninvestable” and threaten future energy supply, report finds | Australian Energy Producers Skip to content Source link
The Egyptian Maintenance Company (EMC) reported exceptional operational and financial results in 2025, with revenues rising by 31% to EGP 16.7 billion, while new contracts increased by 27% to EGP 19.6 billion, according to Mohsen Kotb, the company’s chairman. Operating profits more than doubled to EGP 1.57 billion, compared to EGP 700 million in 2024, marking the highest growth rate in the company’s history, Kotb stated during the company’s general assembly. International operations recorded a breakthrough, with contracts outside Egypt reaching EGP 6.6 billion, up 85%, contributing 58% of total pre-tax profits. EMC is currently executing projects across several Arab…
A series of Israeli air strikes in recent days has effectively shut down most of Iran’s petrochemicals production. The main targets of the attacks were utility plants that provide electricity and steam for Iran’s two largest petrochemical hubs at Mahshahr (4 April) and Assaluyeh (6 April) in Khuzestan and Bushehr provinces. The two sites account for more than 80% of Iran’s petrochemicals capacity. There were also attacks on petrochemical plants in Shiraz and Marvdasht on 6 April. Israel began its campaign against Iran’s petrochemical sites with a 30 March attack on Tabriz (MEES, 3 April) as it increasingly targeted assets…
The Alexandria Petroleum Maintenance Company (Petromaint) recorded its highest-ever revenues in 2025, rising by 56% year-on-year (YoY) to EGP 11.8 billion, compared to EGP 7.6 billion in 2024. The results, which were approved during the company’s general assembly, reflect strong confidence in its specialized workforce and technical capabilities. Chairman Amr Osama presented the company’s financial results for the fiscal year (FY) ending 2025, reporting net profit of EGP 725 million, compared to EGP 580 million in 2024—a 125% increase. He noted that profits also surpassed the company’s target by 158%. He also noted that Petromaint secured contracts exceeding EGP 2.5 billion…
Saudi Arabia has fully restored oil pumping capacity through its East-West pipeline, which holds a total capacity of 7 million barrels per day (mmbbl/d). The East-West pipeline is a critical strategic asset, serving as Saudi Arabia’s primary export artery while the Strait of Hormuz remains closed. By transporting crude from the eastern fields to the Red Sea coast, the pipeline allows the Kingdom to bypass the maritime chokepoint entirely, ensuring the continued flow of oil to global markets despite the regional blockade. The Saudi Ministry of Energy confirmed on Sunday that the energy facilities and the pipeline segments affected by…
The collapse of US-Iran negotiations in Pakistan on Saturday signals a dangerous new phase in regional instability. Despite four marathon sessions, the talks ended abruptly without a breakthrough or a scheduled return to the table. The only significant thing that happened appeared to be the rare handshakes between an American politician and an Iranian members of the ruling elite, after 47 long years!The American delegation operated under a rigid deadline with minimal flexibility, while Vice President JD Vance’s reported hopes for a peaceful resolution were overshadowed by the administration’s hardline stance. Pakistan, which risked its relationship with Gulf allies to…
Three years into Sudan’s raging conflict, the war-torn country’s partition is becoming a reality, with both the Sudanese Armed Forces (SAF) and the rival paramilitary Rapid Support Forces (RSF) settling into the new status quo. After years of intense fighting and deliberate targeting of critical infrastructure, the country is now de facto divided in a Libya-style partition (MEES, 12 September 2025): the army controls the east and the Red Sea coast, including the Bashayer-2 Marine Terminal at Port Sudan from which crude from Sudan and its southern neighbor is exported. (CONTINUED – 830 WORDS) Read this article for free Gain…
South Korea is close to securing crude oil supplies from Kazakhstan, as Seoul steps up efforts to diversify energy sources amid ongoing conflict in the Middle East, the country’s industry minister announced, according to Reuters. Industry Minister Kim Jung-kwan indicated that negotiations had made significant progress, adding that specific volumes and further details were expected to be announced early next week, according to remarks made in an interview with local broadcaster KBS. The push comes after Kim and presidential chief of staff Kang Hoon-sik travelled to Kazakhstan earlier this month to secure shipments of crude oil and naphtha, as disruptions to…