Author: Rigs & Barge World
Bunkering activity at the UAE’s Fujairah’s and Khor Fakkan hubs has become increasingly subdued in recent months as the US tightened enforcement measures against firms allegedly breaching sanctions on Iran. In December, the Office of Foreign Assets Control (Ofac) sanctioned two vessels operating in Khor Fakkan – Khadiga and Skylight – citing their transporting of Iranian product and links to Red Sea Ship Management. (CONTINUED – 507 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…
Chevron has begun exclusive negotiations with Iraq over the massive West Qurna 2 oilfield, bringing it closer to taking over the asset from Russian producer Lukoil, which is under sanctions, according to Reuters. Chevron said the discussions will involve sharing confidential information and could significantly expand its presence in Iraq, following Baghdad’s decision to nationalise the West Qurna 2 field. The office of Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that an agreement had been signed between Chevron and the Basra Oil Company (BOC). Under the arrangement involving BOC, Lukoil, and Chevron, the West Qurna 2 contract will be temporarily…
Preparations are well underway for Iraq to receive its first LNG cargo this summer. After several meetings with Iraqi oil, electricity and port officials, US LNG infrastructure firm Excelerate Energy has chosen three jetties – 2,3 and 4 – at Khor al-Zubair (see map) to berth its Hull 3407 floating storage and regasification unit (FSRU). MEES understands that imports are on schedule to begin in mid-June. 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
State energy giant Saudi Aramco is preparing to launch its first exports from the $100 billion Jafurah gas project later this month, following the sale of several ultra-light crude (condensate) cargoes to global majors. Trade sources confirmed that Chevron has booked two shipments for late February and March. Additional cargoes for next month were secured by ExxonMobil and Indian Oil Corporation (IOC). The deals were reportedly struck at premiums of $2 to $3 per barrel over the Dubai benchmark, reflecting strong international interest in the new supply stream. Aramco expects to ship between four and six cargoes monthly from the…
The Arabian Gulf Oil Company (AGOCO) has restarted operations at the Sinoun oil field in the Nalut area, as part of the broader strategy of the National Oil Corporation (NOC) to raise production and improve operational efficiency. Production had been suspended for more than three and a half years due to financial constraints and technical difficulties related to transporting crude through the pipeline to the Mellitah Industrial Complex in Zwara city. The restart follows directives from the NOC Chairman to prioritize output growth, a move aimed at bolstering state revenues and the national economy. AGOCO’s technical and engineering teams completed…
Saudi Arabia and other oil producers faced a unique set of challenges last year. The kingdom’s energy sector leadership had to navigate the Israel-Iran conflict in June, US tariffs and policy uncertainty from the White House, all while steadily unwinding Opec+ production cuts. The release of December Jodi statistics (see table for full data) provides a clearer picture of how Saudi Arabia managed its oil and gas reserves amid the tumult, and highlights the extent to which 2025 was a landmark year for the kingdom. There has been considerable focus on last year’s unwinding of Opec+ cuts, which enabled Saudi…
Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with representatives from international technology providers and service companies operating in Egypt, including SLB, Baker Hughes, Weatherford, National Energy Services Reunited Corporation (NESR), and Expro. The meeting discussed the executive steps for establishing an integrated mechanism to develop drilling technology and field Development. This initiative is part of the Ministry’s five-year plan to increase domestic production of crude oil and natural gas, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). During the meeting, Badawi stated that the Ministry has made significant strides in preparing…
Petroleum Marine Services (PMS) generated total revenues of $261.5 million in 2025. The revenues included $129 million from development projects and $132.6 million from maintenance, inspection, drilling, and other marine services, CEO Amr Badawy said during the general assembly meeting to approve the company’s 2025 financial results. Badawy explained that PMS’s strategy is focused on diversifying and expanding its activities through cable-laying and deepwater installation works, in addition to port dredging. The company is also focused on broadening its client base, increasing business volumes, and strengthening partnerships with existing customers. In 2025, PMS secured 44 new contracts and awards valued…
BxT Trading. the joint-venture between Bahraini state firm BapcoEnergies and TotalEnergies, was officially launched last month (MEES, 16 January) and has wasted little time entering the market. The JV is taking a sizeable clean products’ storage position at Jebel Ali – a prominent regional storage and trading hub. Sources say the firm has taken at least four storage tanks at the Advario (previously Star Energy) terminal in Jebel Ali and has begun moving cargoes down from Bapco’s Sitra refinery in Bahrain. It has apparently converted gasoline tanks to gasoil. Kpler shows multiple middle distillate cargoes discharging at the terminal so…
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