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Saudi Arabia Signs Energy MoUs with Egypt, Oman

The signing of the MoU between Saudi Arabia and Egypt (Asharq Al-Awsat)
The signing of the MoU between Saudi Arabia and Egypt (Asharq Al-Awsat)
    Sharm el-Sheikh - Lamia Nabil
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Saudi Arabia Signs Energy MoUs with Egypt, Oman

The signing of the MoU between Saudi Arabia and Egypt (Asharq Al-Awsat)
The signing of the MoU between Saudi Arabia and Egypt (Asharq Al-Awsat)

Saudi Arabia signed two separate memoranda of understanding in the energy field with Egypt and the Sultanate of Oman on Monday, on the sidelines of the 2022 United Nations Climate Change Conference and the second edition of the Green Middle East Initiative summit, which were held in the Egyptian city of Sharm el-Sheikh.

Saudi Minister of Energy Prince Abdulaziz bin Salman and the Egyptian Minister of Electricity and Renewable Energy, Dr. Muhammad Shaker, signed an MoU for bilateral cooperation, which aims to enhance cooperation in the production and export of electricity from renewable energy, transport of clean hydrogen transport, and electrical interconnection.

The agreement also encourages digital transformation, innovation, cyber-security, and artificial intelligence, as well as the efforts to develop qualitative partnerships in localization, services and supply chains.

Moreover, the MoU supports joint research with universities, research centers and others, in addition to the holding of conferences, seminars and work sessions, as well as building human capacities through training and exchanging information and experiences, with the aim to deepen and expand cooperation between the two countries.

The Saudi minister of Energy and his Omani counterpart, Minister of Energy and Minerals Salem bin Nasser Al-Awfi, signed an MoU for energy cooperation, which includes strengthening cooperation in renewable energy, electricity, energy efficiency and hydrogen, applying the circular carbon economy approach to reduce the effects of climate change, and developing standards to support the use of sustainable materials.

The memorandum also encourages digital transformation, innovation, cooperation between specialized companies, and the development of qualitative partnerships for the localization of materials, products, services, supply chains and technologies, in all fields of energy.

The memorandum includes exchanging training courses and experts’ visits, and conducting scientific research on energy, which would contribute to strengthening cooperation between the two countries.

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Nearly 30% of US Gulf of Mexico Oil Output Offline after Storm

Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)
Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)
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Nearly 30% of US Gulf of Mexico Oil Output Offline after Storm

Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)
Cars drive off of Interstate 10 in Laplace, La., on Friday, Sept. 13, 2024, as floodwater still covers the roadway two days after Hurricane Francine swept through the area. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)

Nearly 30% of US Gulf of Mexico crude oil production and 41% of its natural gas production remained offline on Saturday following Hurricane Francine, the US offshore energy regulator said.

There was more than 522,000 barrels of oil production per day and 755 million cubic feet of natural gas offline due to the storm, the Bureau of Safety Engineering and Enforcement said.

There were 52 oil and gas platforms unmanned by energy workers, down from 171 evacuated platforms at its peak earlier in the week.

The storm, which drew fuel from exceedingly warm Gulf of Mexico waters, came ashore Wednesday in Louisiana with 100 mph (160 kph) winds and drenched a large swath of the South, including parts of Arkansas and Florida. Forecasters say the storm's slow progress will mean days of heavy rain in the Southeast, creating a flash flooding risk.

Another 3 to 6 inches (8 to 15 centimeters), with about 8 inches (20 centimeters) in some locations, were expected in parts of central and northern Alabama through Sunday. In northeastern Mississippi, western Tennessee, western Georgia and the Florida Panhandle, another 2 to 4 inches (5 to 10 centimeters) was expected.

No deaths or serious injuries have been reported in Francine's aftermath.