Author: Rigs & Barge World
The rise of Artificial Intelligence (AI) is driving a paradigm shift for global energy markets, with widespread adoption of the power-hungry technology forcing a rethink of long-standing demand assumptions. The idea of an imminent energy transition away from hydrocarbons to low-carbon alternatives is rapidly losing traction amid ever-increasing estimates of AI’s demand potential. In his keynote address opening Abu Dhabi’s Adipec conference on 3 November, Adnoc CEO Sultan al-Jaber focused on the speed at which the energy sector is being reshaped, with strong demand growth across the board: “While we may face headwinds in the months ahead, the long-term outlook…
Egypt will launch one of the largest natural gas exploration campaigns in the Mediterranean in 2026, marking a major step in reviving domestic production and attracting new investments, Karim Badawi, Minister of Petroleum and Mineral Resources, said during the first episode of the ministry’s podcast PetroCast. The year 2026 will see one of the largest exploratory campaigns in the Mediterranean Sea, including 14 exploratory wells targeting some 12 trillion cubic feet of gas(tcf), according to Badawi. He pointed out that lower investment in exploration and production has led to a drop in local production of gas and oil since 2021.…
Aramco’s Q3 results exceeded expectations, with the firm posting an adjusted net income of $27.98bn; its highest quarterly figure since 2Q 2024. This exceeded external analyst expectations of $26.5bn as the Saudi energy giant’s core crude oil operations benefitted from industry tailwinds. “Today, we have announced very strong results for the third quarter, and we are also significantly increasing our guidance for longer term growth,” CEO Amin Nasser told Aramco’s earnings call on 4 November. (CONTINUED – 787 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by…
Dana Gas has successfully added 21.3 billion cubic feet (bcf) of proved and probable gas reserves in Egypt during the nine months ending September 30, 2025. This achievement is part of the company’s ongoing $100 million investment program in the country under the 2024 Consolidated Concession Agreement. The company drilled three new wells in the Nile Delta, two of which, Begonia-2 and Salma Delta-6, confirmed 15 bcf of gas reserves, with potential upside of 3 bcf. These are expected to contribute 10–12 million standard cubic feet per day (mmscf/d) of production before the end of 2025. Dana Gas also re-completed…
Adnoc’s international subsidiary XRG was centerstage at this week’s Adipec, Abu Dhabi’s premium energy event. The firm signed a number of new agreements during the event as it continues its aggressive expansion, including two major gas export agreements. It also expanded its Egypt portfolio (MEES, 7 November). First was a non-binding Heads of Terms deal on 3 November for XRG to acquire an unspecified stake in Azerbaijan’s Southern Gas Corridor (SGC) CJSC, a joint stock company owned by Socar (51%) and the Ministry of Economy (49%). The company holds Azerbaijan’s stake in the SCP, Tanap and Tap pipelines that can…
Adnoc and SLB announced on 3 November during the Adipec conference in Abu Dhabi that they are deploying an artificial intelligence (AI)-powered Production System Optimization (AiPSO) platform across eight oil and gas fields in the emirate. Adnoc says that AiPSO uses millions of real-time data points, AI and Adnoc’s own proprietary machine learning. It will proactively monitor and optimize an entire production system from wellhead to processing, “enabling engineers to diagnose issues and optimize wells in minutes instead of days.” (CONTINUED – 161 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve…
Global oil prices dropped on Friday before the weekend close, recording a second consecutive week of losses. As of 18:00 GMT, WTI crude stood at $59.75 and Brent at $63.63 per barrel.This decline occurred despite analyst predictions that the lingering threat of U.S. action against Venezuela would cause a supply disruption and push prices higher—a fear that did not materialize this week.Venezuela holds a uniquely significant position in global oil: it has the world’s largest proven oil reserves; despite heavy sanctions, the country still contributes 1.0–1.1 million barrels a day to the global supply.Venezuelan oil is primarily heavy and sour…
Syria is preparing to offer up gas licenses covering its offshore and onshore to IOCs and hopes American firms Chevron and ConocoPhillips will take acreage, Syrian Energy Minister Mohammed al-Bashir tells MEES. He spoke after a meeting with executives from Chevron and Qatari energy officials on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) on 3 November. The meeting of the three delegations was held at Chevron’s exhibition stand. (CONTINUED – 1277 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…
Opec+ ministers opted to ease cuts again in December before pausing the process for Q1’s low demand season. The group is adhering to Saudi A… Source link
On the sidelines of the ADIPEC 2025 Exhibition and Conference in Abu Dhabi, Karim Badawi, the Minister of Petroleum and Mineral Resources, met with heads of several major international companies, including Technip Energies, Honeywell, and the Korean National Oil Corporation (KNOC) to discuss cooperation opportunities in the energy sector. During his meeting with Arnaud Pieton, CEO of Technip Energies, Badawi reviewed the progress of the Assiut National Oil Processing Company (ANOPC) complex, a major project for the production of diesel and high-value petroleum products. It is implemented by Technip Energies in cooperation with Enppi and Petrojet. The two sides also…