Author: Rigs & Barge World

Iraq’s Ministry of Oil stated that newly developed refineries are now operating at 100% capacity, marking a major advance in the country’s refining sector and positioning Iraq among petroleum-product exporters that meet international quality standards. Adnan Mohammed Hammoud, Undersecretary of the Ministry of Oil for Refining Affairs, said the move reflects government efforts to expand domestic refining and reduce reliance on imports. Speaking to the Iraqi News Agency (INA), Hammoud noted that the full operation of the refineries is being carried out in line with directives from Prime Minister Mohammed Shia’a al-Sudani and under the direct supervision of Deputy Prime…

Karim Badawi, Minister of Petroleum and Mineral Resources, has approved the investment plans for the Alexandria Petroleum Company (APC) and the Amreya Petroleum Refining Company (APRC) for the fiscal year (FY) of 2026/2027. This came during the general assembly meetings of the two companies. According to a statement from the Ministry of Petroleum and Mineral Resources (MoPMR), the APC has allocated  EGP 10 billion for investments in the upcoming FY.  Reham Mohamed, Chairperson of APC, highlighted that this sum would be directed to several replacement and renewal projects. Notably, the successful rehabilitation of one of the boilers saved the company…

For much of the last two and a half years, Saudi Arabia has not been a happy hunting ground for drilling companies. The decision to ice plans to add 1mn b/d of crude oil production capacity two years ago, (MEES, 2 February 2024) coupled with the implementation of 1.5mn b/d of voluntary production cuts in 2023, led Aramco to suspend multiple drilling contracts (MEES, 12 April 2024). A refocusing of investments on gas development – in particular the Jafurah Basin unconventional project – helped to soften the blow, but Saudi Arabia has been a relatively muted market of late. Olivier…

Egypt and the European Union (EU) have signed a grant agreement worth €90 million that will be managed by the European Investment Bank (EIB) to enhance investments in the electricity grid in Egypt and develop renewable energy capabilities. In addition, a separate €35 million grant agreement was signed for Norway’s Scatec to support its green ammonia project in Ain Sokhna, according to the Cabinet’s statement. Signed on February 10 during the Egypt Sustainable Energy Outlook 2040 Conference in Cairo, these agreements underscore the deepening partnership between Egypt and the EU. Rooted in a collaboration established at COP27, this framework accelerates…

Morocco has finally secured a buyer for a 75% operator’s stake in its deepwater Gharb Deep Offshore area, four years after Spain’s Repsol relinquished the asset due to disappointing exploration results (MEES, 5 March 2021). On 22 January, Moroccan state firm ONHYM announced the signing of a deal with Murphy Oil, granting the US independent 10 exploration permits for the 16,989km2 acreage, which combines the ‘Gharb Offshore’ and ‘Rabat Deep’ blocks in Morocco’s offshore ‘Atlantic margin’ (see map). (CONTINUED – 607 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the…

The European Union (EU) and the Egyptian Government co-hosted the “Egypt Sustainable Energy Outlook 2040” conference at Cairo’s Manial Palace. Under the theme “Cooperation for Shared Prosperity,” the summit solidified the strategic energy partnership between the two regions, focusing on long-term policy, grid stability, and large-scale green investment. During the opening remarks, Angelina Eichhorst, Head of the EU Delegation to Egypt and the League of Arab States, emphasized that a transition to “homegrown, reliable, and cheaper energy” is the primary defense against global price volatility and supply manipulation. In his speech, Minister of Electricity and Renewable Energy Mahmoud Esmat said…

Media release: Taroom Trough exploration a boost for Qld energy security and regional investment | Australian Energy Producers Skip to content Source link

ADNOC Gas plc posted a record net profit of $5.2 billion (AED 19.10 billion) in 2025, marking a 3% increase from the previous year. This growth was driven by a 4% rise in sales and, according to the company’s press release, “demonstrates resilience despite a 14% year-on-year drop in average Brent crude prices to $69 per barrel.” “2025 represented a pivotal stage in the journey of ADNOC Gas, during which it achieved record profits while simultaneously continuing to invest in growth plans. This strong performance confirms the resilience and scalability of the company’s business, as well as its ongoing significant…

Chevron’s operations in the Saudi-Kuwait Partitioned Neutral Zone (PNZ) stand out as a success story for 2025, with production there growing at the fastest rate since it restarted in 2020. Saudi Arabian Chevron (SAC) represents Saudi Arabia at the onshore portion of the PNZ, holding a 50% stake in Wafra Joint Operations (WJO) alongside Kuwait Gulf Oil Company (KGOC). The US major’s net production from the PNZ had been relatively flat since 2021. Having averaged 56,000 b/d that year it edged up to 60,000 b/d by 2023 and stayed there in 2024. But it returned to growth last year, increasing…

Representatives of the  Egyptian Ministry of Petroleum and Mineral Resources (MoPMR) held talks with Australian and Canadian mining investors to discuss expanding exploration activities in the Eastern Desert. The discussions, taking place during the Investing in African Mining conference (Indaba) in South Africa, focused on streamlining licensing procedures and leveraging international expertise to modernize Egypt’s mining infrastructure. A high-level Egyptian delegation met with Doug Horak, CEO of the Australia-Africa Minerals & Energy Group (AAMEG), to establish a framework for attracting small and medium-sized Australian mining companies. Building on framework discussions initiated in late 2025, the meeting explored the transfer of…