Author: Rigs & Barge World
US President Donald Trump’s “Board of Peace” has held its first meeting after being officially formed in January (MEES, 23 January). On 19 February, Mr Trump said the US will commit $10bn to reconstruct Gaza, and that nine countries – Kazakhstan, Azerbaijan, UAE, Morocco, Bahrain, Qatar, Saudi Arabia, Uzbekistan, and Kuwait – have contributed more than $7bn. There is also $2bn from the UN and $75mn from FIFA for “soccer-related projects in Gaza.” Indonesia, Morocco, Kazakhstan, Kosovo, and Albania have also signed up to the International Stabilization Force (ISF) meant to act as a peacekeeping force alongside a reconstituted police…
The Middle East Oil Refinery (MIDOR) has officially reached its maximum production capacity following the successful completion of comprehensive maintenance, marking a strategic shift toward Egypt’s energy self-sufficiency goals. Amr Lotfy, Chairman of MIDOR, confirmed that the refinery is currently processing 170,000 barrels per day (bbl/d). During the company’s general assembly to approve the 2025 financial results, chaired by the Minister of Petroleum and Mineral Resources Karim Badawi, Lotfy highlighted several key operational achievements, including the successful restart of production units at 100% capacity, the activation of kerosene treatment operations for the first time, and the continued export of high-quality…
Media release: Gas agreement confirms critical role of gas in Australia’s manufacturing future | Australian Energy Producers Skip to content Source link
Karim Badawi, Minister of Petroleum and Mineral Resources, discussed with representatives of the International Finance Corporation (IFC), the private sector arm of the World Bank, investment and financing opportunities within the domains of petroleum refining, petrochemicals, and value-added industries, as well as the mining sector and the exploitation of mineral ores. This came through a meeting which included Ethiopis Tafara, IFC’s Vice President for Africa, and Cheick-Oumar Sylla, the IFC Regional Director for North Africa and the Horn of Africa They also identified potential avenues of cooperation between the Ministry and the IFC, as a key developmental partner for…
Karim Badawi, Minister of Petroleum and Mineral Resources, inspected the drilling operations of the first development and production well at the West Mena gas field in the Northeast El Amreya area in the Mediterranean Sea. The field is scheduled to begin initial gas production by the end of this year, adding an estimated 160 million cubic feet per day (mmcf/d) of gas and 1,900 barrels of condensate, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). The inspection visit took place aboard the drilling vessel STENA IceMAX, following its arrival in Egypt last week to begin…
Libya has finally announced the results of its first oil and gas bid round since 2007 (MEES, 17 December 2007), nearly a year after it was launched (MEES, 7 March 2025). NOC described it as the “most significant event in Libya’s oil sector in 17 years.” In a televised event on 11 February, NOC officials opened the bids submitted by IOCs and announced the winners of five out of the 20 onshore and offshore blocks that were on offer. (CONTINUED – 2663 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into…
The Iraqi cabinet approved what it described as an “amicable settlement” with Russia’s Lukoil over the transfer of operations at the giant West Qurna 2 oil field to the state-run Basra Oil Company, Reuters reported, citing an official statement. The move follows Baghdad’s decision last month to nationalize the field after the United States imposed sanctions on Lukoil as part of efforts to pressure Moscow over the war in Ukraine. West Qurna 2 is one of the world’s largest oilfields, contributing roughly 0.5% of global oil supply and nearly 10% of Iraq’s total crude output. The nationalization comes as discussions…
Petrosannan Petroleum Company, a joint venture (JV) between Ukraine’s Naftogaz and the Egyptian General Petroleum Corporation (EGPC), plan to invest around $40.32 million for the upcoming fiscal year, targeting daily production of 4,439 barrels of crude oil and 7.9 million cubic feet (mmcf) of gas, Chairman Ayman Morshedy told the General Assembly that convened to approve the budget for fiscal year (FY) 2026/2027. The approval builds on the strong results achieved during the current fiscal year, which were commended by the assembly, according to an EGPC statement. Salah Abdel Kerim, CEO of EGPC, highlighted Petrosannan’s efforts to make two oil…
One of Oman’s most-anticipated upstream awards in recent years has been finalized, with Malaysian NOC Petronas (70%) partnering with Oman’s OQEP (30%) at the Block 18 offshore asset. Petronas will operate the block, and the company’s VP of International Assets Mohd Redhani Abdul Rahman said at the 12 February signing ceremony that “through our innovative exploration approaches and OQEP’s basin expertise, we aim to jointly unlock the potential of Block 18, contributing to Oman’s long-term energy security.” (CONTINUED – 743 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details…
Türkiye and Ethiopia have signed a memorandum of understanding (MoU) on energy cooperation during President Recep Tayyip Erdogan’s visit to Addis Ababa, marking a step toward deeper collaboration in joint energy projects, Reuters reported. Erdogan traveled to the Ethiopian capital at the invitation of Prime Minister Abiy Ahmed, in his first visit to the country in 11 years. The agreement was signed following talks between the two leaders and is intended to serve as a roadmap for expanding bilateral energy ties. According to Türkiye’s Energy Ministry, the accord covers cooperation in renewable energy and energy efficiency projects, as well as joint…