Author: Rigs & Barge World
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…
Israel’s refining sector is struggling to bounce back from the damage inflicted by Iranian strikes during June’s 12-day conflict. The 197,000 b/d Bazan refinery at Haifa suffered significant damage in June, and operations remain limited while repair work continues. The impact of this was exacerbated by a malfunction at the smaller 100,000 b/d Ashdod refinery, that meant total Israeli refinery output dropped 39% year-on-year to a multi-decade low of just 158,000 b/d. As a result, Israel increased its imports of refined products to meet local demand. Read this article for free Gain access to over 60-years of energy analysis and…
Egypt exported a new liquefied natural gas (LNG) shipment from the Idku liquefaction plant to Turkey aboard the LNG HARMONY carrier, transporting approximately 150,000 cubic meters (m³) of LNG for Shell Global, according to the Ministry of Petroleum and Mineral Resources. LNG exports support the ministry’s strategy to encourage foreign partners to inject additional investments needed to increase domestic natural gas production and to boost Egypt’s role as a regional hub for energy trade, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). In October, Egypt exported a similar 150,000 m³ cargo of LNG from Idku…
Japan’s largest power generation company, JERA, has signed a 10-year liquefied natural gas (LNG) sale and purchase agreement with Torrent Power, one of India’s leading integrated power utilities, according to a statement by JERA. The deal, which begins in 2027, marks JERA’s first long-term contract to supply cargoes outside of Japan, signifying a major step in its global expansion strategy. Under the agreement, JERA will deliver approximately 270,000 tonnes of LNG annually, comprising four cargoes per year, on a Delivered Ex-Ship (DES) basis from its global portfolio. The deal capitalizes on complementary seasonal demand patterns between the two nations: India’s…