Author: Rigs & Barge World

Italy’s Eni this week announced a 1tcf gas discovery near existing export infrastructure offshore Libya, which will allow fast-track development and tieback. The discovery could not have come at a better time with energy security again top of the political agenda in Europe amid a looming gas crisis after Iranian strikes caused extensive damage to Qatar’s gas facilities (MEES, 6 March). Iran’s attack on Qatar’s Ras Laffan LNG complex this week caused damage that could take up to five years to repair (MEES, 20 March), meaning that the implications for global gas balances will extend well beyond the eventual re-opening…

Iran’s attacks on regional energy infrastructure have reached the Red Sea port of Yanbu, which has swiftly become one of the most important facilities for the continued export of oil from the Middle East while the Strait of Hormuz is closed. On 19 March, a drone caused damage to the Samref refinery in Yanbu, adjacent to the Yanbu North oil terminal, although loadings have continued. Saudi Aramco aims to export up to 5mn b/d of crude oil from Yanbu North and the Yanbu South terminal around 20km down the coast, up from less than 1mn b/d prior to the conflict.…

Israel’s Energy Minister Eli Cohen has said the 22.4tcf Leviathan and 4.3tcf Karish gas fields will likely remain offline until at least 25-26 March. Production at the two fields was shut down on the morning of 28 February when Israel launched military strikes against Iran (MEES, 6 March). NewMed Energy, which has a 45% non-operating stake in Leviathan, is optimistic that a restart is imminent. CEO Yossi Abu told the company’s Q4 earnings call on 16 March that the company is “working together with the government, very closely with them, without getting into details, I assume that we will be…

The third week of the Middle East conflict has been characterized by an escalation in attacks on energy infrastructure that threaten severe, long-term impacts on global energy supplies. Iran had already been targeting energy assets in neighboring states, but its response to Israel’s strike on South Pars gas processing facilities was swift and fierce, taking these assaults to a whole new level. US President Donald Trump denied advance knowledge of the 18 March South Pars attack (MEES, 20 March) and says he has told Israel there can be no repeat – Israeli Prime Minister Benjamin Netanyahu also said his country…

South Australia’s oil and gas industry congratulates Premier Peter Malinauskas on his re-election and looks forward to working with his government on ensuring natural gas continues to play a central role in the state’s economic growth and energy security. Australian Energy Producers Chief Executive Samantha McCulloch said Premier Malinauskas recognised the importance of natural gas to the state’s economy and energy system, and in driving growth in manufacturing industries. “The SA Government, led by Premier Malinauskas and Treasurer Tom Koutsantonis, understands that natural gas is also central to South Australia’s energy and industrial transformation agenda,” Ms McCulloch said. “Ensuring reliable…

Barely a month ago, Qatar hosted the LNG2026 conference in Doha, where it laid out plans to expand capacity from 77mn t/y to 142mn t/y in the years ahead. Now, as the smoke clears from devastating Iranian missile attacks on Ras Laffan, 50km north of the Qatari capital, it is looking at a multi-year effort to repair existing facilities, while expansion plans face further delays. Iran hit Ras Laffan with two missile attacks on 18 and 19 March, causing significant damage to the Pearl GTL plant (MEES, 20 March) and Qatar’s LNG plants. On 19 March, QatarEnergy CEO Saad Sherida…

Egypt is working to settle all its outstanding dues to international partners in the oil and gas sector by the end of June, in parallel with the regular payment of monthly dues, according to Karim Badawi, Minister of Petroleum and Mineral Resources. Badawi pointed out that the MoPMR has been working to gradually reduce the dues from about $6.1 billion on 30 June 2024 to $1.3 billion currently, with the necessary coordination in place to fully settle them by 30 June 2026. This comes in implementation of President Abdel Fattah El-Sisi’s directives to accelerate the settlement of partners’ dues, thereby…

Israel struck at least three onshore plants processing gas from Iran’s giant South Pars gas field on 18 March, prompting the largest retaliation by the IRGC on energy infrastructure in Arab Gulf countries since the start of the conflict in the Gulf (MEES, 20 March). Early reports and comments by Iranian officials indicate that the attacks struck the third, fifth and sixth processing plants at the Assaluyeh industrial hub. These facilities process gas from the field’s offshore phases 4-5, 9-10 and 15-16 respectively (see map). (CONTINUED – 628 WORDS) Read this article for free Gain access to over 60-years of…

Iraqi officials are running against the clock to find outlets for large volumes of refined products before storage capacity fills up. The Strait of Hormuz closure cut off Iraq’s primary export outlet, and it needs to keep its refineries operational to supply domestic demand and provide an outlet for crude production to allow for continued output of some associated gas output (MEES, 6 March). The problem is that refinery output of some products, such as fuel oil and naphtha, exceeds domestic demand and once excess volumes fill up storage tanks, refinery throughputs would have to be curtailed, limiting gasoline output.…

Reports that the Federal Government is considering imposing even higher taxes on Australia’s gas industry would leave Australia more exposed to future energy shocks, Australian Energy Producers Chief Executive Samantha McCulloch said. “This would be the worst possible time for Australia’s economy and energy security to impose a new, retrospective tax on an essential energy sector,” Ms McCulloch said.   “Imposing higher taxes on Australian gas producers would stop investment in new gas supply, leading to gas shortfalls, higher energy prices, and the closure of Australian industries that rely on reliable and affordable gas.” “The current surging petrol and diesel prices in…