Author: Rigs & Barge World

Israel’s 197,000 b/d Bazan refinery suffered significant damage when it was hit by Iranian missiles on 14 June (MEES, 20 June), and the plant is still months away from returning to full operations. The refinery was immediately taken offline after the strike. In early July, Bazan was able to partially restart the 27,000 b/d capacity CDU 1 and 57,000 b/d CDU 3 but the largest unit, the 113,000 CDU 4, remains offline (MEES, 4 July). “Full production activities are expected to resume in the fourth quarter of 2025,” says CEO Assaf Alamgor, telling investors that “two out of three of…

The Egyptian Tax Authority (ETA) stated that there is no truth to reports of disputes between the government and oil companies over the new value-added tax (VAT) law, confirming that the law is clear and a full agreement has been reached on all issues and that the executive regulations will be issued soon, according to a statement by the Ministry of Finance. ETA explained that the Egyptian General Petroleum Corporation (EGPC) is the sole purchaser of crude oil in Egypt. It bears the value-added tax at a rate of 10% as the recipient and beneficiary of the commodity, whether the…

Minister of Petroleum and Mineral Resources Karim Badawi said that the ministry is working to fully utilize petrochemical production capacities and explore expansion opportunities to increase added value, cut import costs, boost exports, and support the economy. His remarks came during inspection tours of petrochemical production complexes in Alexandria Governorate. He noted that the ministry’s efforts to secure gas infrastructure and regasification vessels have supported plant operations, raised output, and ensured the optimal use of gas. He added that the incentives introduced by the ministry to encourage partners to invest and expand production are also bearing fruit. The Minister also…

Oman has started 2025 with back-to-back fiscal deficits as a result of the fall in oil prices. After recording a $350mn deficit in Q1, its first since 2021, Muscat notched a $320mn deficit in Q2 (see chart). 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

Minister of Petroleum and Mineral Resources Karim Badawi met with Minister of State for Military Production Mohamed Salah El-Din to review ongoing and future cooperation between the two ministries. Badawi stated that his ministry is eager to expand its collaboration with the Ministry of Military Production to implement economically impactful projects that directly benefit citizens. He praised the military production companies for their efficiency, precision, and history of delivering high-quality projects on time. For his part, Salah El-Din highlighted the joint project to produce prepaid gas meters. He explained that this initiative serves two purposes: conserving state resources and encouraging…

Karim Badawi, Minister of Petroleum and Mineral Resources, met with Roberto Ebert, Ambassador of Chile to Cairo, along with a delegation from the Chilean ENAP Sipetrol, which has current investments in Egypt, to discuss cooperation plans in oil production in collaboration with the Egyptian General Petroleum Company (EGPC). The meeting addressed ways to accelerate ENAP’s operations in the West Amer  Area in the Eastern Desert in cooperation with EGPC, in order to increase production rates and review its future plans to drill new wells and expand exploration activities. Operating in Egypt since 1998, ENAP Sipetrol has operations in several key…

Trilateral energy cooperation between Egypt, Jordan and Iraq is deepening. Jordan acts as a hub, importing electricity from Egypt and exporting electricity to Iraq in turn. Discussions are underway with both Egypt and Jordan about expanding these existing interconnections, and also with Saudi Arabia over potentially connecting their grids. Officials met earlier this month for talks on quadrupling the current Egypt-Jordan link from 500MW to 2GW over the next two years and potentially further to 2.2GW by the turn of the decade. (CONTINUED – 934 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…

Removing CO₂ emissions from the atmosphere will be critical to meeting global net-zero targets. According to the World Economic Forum, scientists predict that up to 10 Gt CO₂ will need to be removed annually from the atmosphere by 2050 — and that volume will have to double by 2100. This is clearly a challenge, but also an opportunity. By capturing and separating the hydrogen and carbon in hydrocarbons, we aim to provide valuable feedstocks that can potentially contribute in the production of lower carbon products such as synthetic fuels, chemicals, fertilizer, power generation, and heat. For that to happen, carbon…

Abu Dhabi state renewables firm Masdar announced on 19 August that financial close has been achieved for the 2GW Al Sadawi solar PV plant in Saudi Arabia’s Eastern Province. The project is being developed by Masdar alongside Korea’s Kepco and China’s GD Power Development, with the consortium signing a power purchase agreement (PPA) last year (MEES, 6 December 2024). The partners won the project in Round 5 of Saudi Arabia’s National Renewable Energy Program (NREP) with a levelized cost of electricity (LCOE) of just US¢1.29/KWh. Masdar says that “Project financing facilities have been secured with eight leading regional and international…

Iran’s president Masoud Pezeshkian inaugurated the NGL 3100 gas processing facility in the western Ilam province on 17 August . The $1.6bn project has suffered long delays and was developed to handle associated gas from the Dehloran, Cheshmeh-Khosh, West Paydar and Azar fields which is currently flared. Iran’s petroleum ministry says the facility includes two gas compression stations, a 100MW power plant and 350km of pipelines. The complex will process 240mn cfd of raw gas, injecting 4.3mn m3/d (152mn cfd) of sweetened gas into the national grid. It will initially process 80mn cfd, with volumes gradually increasing. (CONTINUED – 206…