Dana Gas expects to obtain approval from the Egyptian Parliament for the agreement concluded with the Egyptian Natural Gas Holding Company (EGAS) at the end of this year, Mohammed Mubaideen, Head of Investor Relations at the company told CNBC Arabia. This new agreement will guarantee the company drilling 11 new wells and investments of $100 million during the next two years, and will also ensure the unification of concession areas between the two companies, Mubaideen noted. Mubaideen also stated that the decline in the company’s profits during the second quarter of this year is mainly due to t ..read more

Lebanon plans to explore gas potential at Block 9, located off its southern coast, with the recent arrival of the Transocean Barents drilling rig, said Lebanon’s Public Works and Transport Minister Ali Hamie. “The arrival of the equipment marks an important step in the preparation for the drilling of the exploration well in Block 9, which will begin by the end of August 2023,” Total Energies said in a statement. The exploration process is led by France’s TotalEnergies (TTEF.PA) along with Italian oil giant Eni (ENI.MI), and state-owned QatarEnergy. Exploration of Block 9 was initially del ..read more

Egyptian President Abdel Fattah El Sisi has issued a decision to renew the appointment of Waleid Gamal El-Dein as the Chairman of the Suez Canal Economic Zone (SCZone) for one year as of 12 August 2023. Gamal El-Dein took over the position as the Executive Director of the SCZone in January 2020, then as the Vice President of the Authority for Investment and Promotion Affairs in May 2022 and finally as the Chairman of the authority in August 2022. SCZone’s strategy 2020/25 aims to localize targeted industries that enhance the authority’s global competitiveness as well as meet the needs of regio ..read more

The Suez Canal Economic Zone has announced the arrival of the first green fuel container ship in the world. The ship was received by East Port Said in the first voyage of the ship, belonging to the shipping line Maersk, to an Egyptian port overlooking the eastern Mediterranean. The ship is coming from Asia, passing by Africa, through Egypt, and then on to Europe. The container ship arrived at the port of East Port Said, which is ranked among the ten most important ports in the world, according to a World Bank report. This reflects the confidence of the shipping lines in the Authority’s po ..read more

Wintershall Dea announced that it has won a new license by the North Sea Transition Authority (NSTA) to store CO2 under the seabed. The license is for the Camelot area, which is a combination of depleted gas fields and an overlying saline aquifer. According to a press statement from Wintershall Dea, the Camelot license has the potential to store up to 6 million tonnes of CO2 annually, which would significantly boost carbon abatement efforts in the UK. This award is considered an important stepping stone for the company to access the UK’s CCS industry and develop Northwest Europe as a key ..read more

Iraqi Minister of Oil Hayan Abdul Ghani has announced the continues reconstruction and rehabilitation operations for the north refinery located Al-Sumoud complex in Baiji. He noted that the refinery would have production capacity 150,000 barrels per day (bbl/d) and it is planned to be completed by the end of 2024. Abdul Ghani emphasized the importance of the refinery’s construction and operation in boosting the national production of octane, kerosene, naphtha, and liquid gas. He pointed that the ministry is working on returning the refinery back to its previous production rates. For his part ..read more

ADNOC and the National Central Cooling Company PJSC (Tabreed) announced the first geothermal energy project set to decarbonize the cooling of the buildings in Masdar City, Abu Dhabi. The announcement came following the conclusion of testing on two geothermal wells which produce hot water at temperatures exceeding 90 degrees Celsius and flow rates of approximately 100 liters per second. The hot water generated by the heat from the wells will now pass through an absorption cooling system to produce chilled water, which will then be supplied to Tabreed’s district cooling network at Masdar Ci ..read more

India’s Managalore Refinery and Petrochemicals Limited MRPL decided to halt its refinery fuel exports in the next two to three years to expand the revenues of the local retail network. MRPL, a subsidiary of state-controlled Oil and Natural Gas Corp (ONGC.NS), plans to expand its retail outlets in southern India to 1,800 by 2027 instead of 71 now, said Sanjay Varma, the managing director of MRPL. MRPL added 31 retail fuel outlets during 2022-23 FY, taking the total number of outlets to 63 as of 31 March. Its gross refining margin was at $9.88/bbl in 2022-23, up from $8.60/bbl in the previous fi ..read more

TWMA was awarded a $15 million contract to support an oil and gas large-scale project for bp in Egypt. According to the contract, TWMA will utilize its award-winning RotoMill drill cuttings processing technology to process all drilling waste generated from bp’s WND & END exploration and development project in the Mediterranean Sea. Expected to last up to five years, work will commence in October this year. The RotoMill has been chosen for its environmental benefits. It uses a process of thermal desorption to separate drill cuttings and associated materials into their three constituent part ..read more

Canada, the world’s fourth biggest oil producer, pledges to export an additional 200,000 barrels of oil as well as 100,000 barrels of natural gas, the country’s Natural Resources Minister Jonathan Wilkinson told BBC.   Wilkinson stated that several countries are committed “to help in terms of displacing Russian oil and gas”.   The minister’s remarks came after requests from Canada’s allies at a ministerial meeting at the International Energy Agency (IEA) in Paris, which aims to accelerate the transition to clean energy.   “We expect that by the end of the year we will be fully u ..read more