Author: Rigs & Barge World
Qatar, like its GCC neighbors, has been investing in diversifying its economy, although its goals on this front are relatively modest. The most visible recent wave of investment was ahead of the 2022 FIFA World Cup in Doha, which required massive infrastructure investments to promote tourism and hospitality. More recently, Qatar has been allocating billions to diversify its industrial base to build up alternative revenue streams. These investments are having an impact, with non-hydrocarbon trade revenues rising 15% year-on-year to a record $17.7bn last year driven by all sectors including metals, manufacturing, and chemicals (see chart); oil and gas still…
The North Oil Company (NOC) has successfully restored gas pumping operations at the AB2 compression station in Kirkuk, following a swift emergency response to a technical malfunction early Saturday. In a statement reported by the Iraqi News Agency (INA), the Ministry of Oil confirmed that specialized engineering and technical teams finalized the first stage of restoration by 12:30 p.m. local time. The works included installing a new 20-inch valve, allowing gas flow to resume to the North Gas Company (NGC) facilities. The restoration efforts were overseen directly by the NOC’s Director General, Amer Khalil Ahmed. The Ministry indicated that the site preparation and…
Russia’s state income from oil and gas is projected to fall sharply in February to around 410 billion roubles, nearly half the level recorded in the same month of 2025, according to Reuters estimates. The decline is attributed to the appreciation of the rouble and lower global oil prices. Oil and gas proceeds remain the backbone of the Kremlin’s finances, contributing more than 20% of federal budget revenues. These earnings have been under pressure as government spending on defence and security has surged since Russia launched its military operation in Ukraine in February 2022. Every month, revenues are forecast to…
The Middle East has emerged as a highly dynamic region in the global electrification movement, combining a transition away from oil to gas and renewables with fast-growing demand. The IEA estimates that regional electricity demand increased by 3.8% last year, driven by strong economic growth and air conditioning requirements. Demand for cooling will continue to grow rapidly due to population growth. Despite the focus on artificial intelligence investments by regional governments, many observers note that it is AC not AI that will remain the primary driver of electricity demand growth in the Middle East. (CONTINUED – 1052 WORDS) Read this…
The total production of the Sukari gold mine in 2025 came at 500,000 ounces, compared to 481,000 ounces in 2024, driven by higher ore throughput and improved equipment availability. The total cost of production is $783 per ounce, according to a press release by AngloGold Ashanti. AngloGold Ashanti acquired the Sukari gold mine from Centamin on November 22, 2024. In the fourth quarter (Q4) 2025, Sukari produced 119,000 ounces, down 5% from Q4 2024. This decline was partly caused by the processing of lower-grade materials. Integrating Sukari helped the overall production of the AngloGold Africa region to reach 1.75 million ounces…
Mubadala Energy, the Abu Dhabi-based international energy company, finalized the acquisition of a 15% stake in Egypt’s Nargis Offshore Concession from Eni, reinforcing the company’s position in the East Mediterranean and its long-term commitment to Egypt, Mubadala noted in a statement. “This acquisition further reinforces our long‑term commitment to Egypt, expanding our portfolio with a high‑impact growth opportunity alongside world‑class partners in the strategically important East Med region,” Mansoor Mohammed Al Hamed, Managing Director and CEO of Mubadala Energy, commented. The Nargis concession expands Mubadala Energy’s presence in the prolific East Nile Delta Basin. Located roughly 50 km offshore. The…
Adnoc’s international subsidiary XRG and Italian major Eni have signed a deal with state firm YPF for the development of the third-phase 12mn t/y Argentina LNG. The binding Joint Development Agreement (JDA) follows a non-binding agreement signed late last year (MEES, 7 November 2025). The partners will now start Front-End Engineering Design (FEED) and related activities for the two 6mn t/y floating LNG facilities that will process gas from Argentina’s Vaca Muerta shale basin. “This new step marks the formal inclusion of XRG into the project we have been developing together with Eni,” says YPF CEO Horacio Marín. “We will…
IE Week in London has come and gone. Unsurprisingly, the escalation of tensions between the US and Iran — and the risk of kinetic confrontation — dominated discussions (MEES, 13 February). Geopolitics trumped (no pun intended) oil fundamentals as participants peered into the US foreign policy crystal ball. Yet fundamentals were by no means ignored. Despite the start of 2026 being marred by temporary supply outages in the Caspian and the US, the forward outlook for supply and demand in analysts’ spreadsheets worldwide points to a sizeable surplus this year. The broad consensus is that implied stock builds will be…
Drilling Fluid Rheology is one of the most critical properties monitored on an oil and gas drilling rig. It defines how drilling mud flows under different shear rates and directly impacts:· Hole cleaning efficiency· Equivalent Circulating Density (ECD)· Pump pressure· Wellbore stability· Suspension of cuttings and weighting materialsRheology is the study of fluid flow behavior. In drilling operations, drilling mud rehalogy determines:· How easily mud flows through drill pipe and annulus· How well it transports cuttings to surface· How it suspends solids when pumps are offUnlike water, drilling fluids are non-Newtonian fluids, meaning their viscosity changes with shear rateIn short we can say…
In a 17 February decision, the Iraqi government agreed to pursue a settlement with Lukoil at its 480,000 b/d-capacity West Qurna-2 (WQ-2) oilfield. The private Russian company submitted a settlement and assignment proposal last week to transfer its 75% stake to state firm Basrah Oil Company (BOC) and recoup unpaid dues while settling outstanding debts and tax disputes at the giant oil field (MEES, 13 February). The decision did not disclose a settlement figure and was instead a preliminary move that empowers the oil ministry with a legal mandate to begin negotiations. In total Lukoil proposed a sum of less…