Latest in Tag: Oil Highlight
Latest in Tag: Oil
Al-Sisi discusses cooperation with Chevron Corporation in oil exploration
Agreement with American firm supports petroleum sector in Egypt in pivotal way, says Al-Sisi
Oil prices hike after EU leaders agree to ban most Russian crude imports
The President of the European Council said that the decision would immediately hit 75% of Russian oil imports.Â
Egypt awards 8 oil, gas exploration concessions to international companies
Eni, British Petroleum, Apex International, Energean Egypt, INA Nafta, Enap Sipetrol, and United Energy win oil concessions in Egypt’s first digital tender
Egypt attracts new exploration interest from oil, gas giants: IHS Markit
Eastern Mediterranean has proven remarkably resilient to broader upstream industry pressures of energy transition, portfolio concentration
Egypt’s oil, gas sector investments reach $27bn over 4 years
The minister’s remarks came during a lunch meeting organised by the American Chamber of Commerce (AmCham) Egypt headed by Tarek Tawfik.
Egypt’s Petroleum Minister, BP discuss joint business, international oil prices
BP’s Dev Sanyal affirmed company’s confidence in Egypt’s investment-attracting climate
Oil prices fall amid OPEC+ deadlock over output cuts
The COVID-19 pandemic took its toll on oil prices in 2020. For the past year, the US benchmark slumped 20.5%, while Brent crude lost 21.5%.
Crude oil prices drop as demand fears persist
The West Texas Intermediate for February delivery lost 61 cents to $47.62 a barrel. Brent crude for February delivery decreased 43 cents to $50.86 a barrel
Eni announces new oil discovery in Egypt’s Western Desert
A new exploration well as part of the Meleiha Concession has discovered new oil resources in Egypt’s Western Desert area, Italian energy giant Eni revealed on Wednesday.
Warnings issued of environmental disaster after oil spill off Yemen coast
UN announces that Houthis would allow experts to inspect, repair oil tanker
Oil prices climb on vaccine optimism, US crude inventories up last week
Many European countries and US states are tightening coronavirus restrictions. Analysts expect oil prices to come under pressure in the first half of 2021
Oil prices slip on the back of COVID-19 worries
Oil prices drop came amid a spike of new coronavirus infections in some major economies forced renewed restrictions or a delay of unwinding lockdowns.
Egypt, South Korea discuss boosting bilateral cooperation in oil, gas sector
They also discussed ways to develop cooperation between the two countries in the oil and petrochemicals sectors.
Al-Sisi urges more cooperation with Italy’s Eni in oil sectorÂ
Egypt is important partner for Italian company’s international activity, says Eni CEO Claudio Descalzi
Oil price hike revives petrochemical companies’ performance in Q3 of 2020
SIDPEC among most prominent beneficiaries of oil price rise, given increased demand for polyethylene
Oil prices gain amid positive data
West Texas Intermediate for September delivery rose to $41.01 a barrel, while Brent crude for October delivery climbed to $44.15 a barrel
Oil prices sink amid demand fears
Oil prices plunged as West Texas Intermediate for September delivery fell $1.35 to$39.92 a barrel, while Brent crude lost 81 cents to $42.94 a barrel
Oil prices gain after US inventories drop
Oil prices also got a lift from weak US dollar as there is normally a reverse correlation between foreign exchange value of the US dollar and oil prices
Oil prices slip amid multiple headwinds
West Texas Intermediate for September delivery settled at $41.07 a barrel, while Brent crude oil for September delivery was down to close at $43.31 a barrel
US crude oil production increases last week: EIA
US crude oil imports and exports both increased during the week ending July 17, the US Energy Information Administration
Oil prices climb amid demand hopes
Meanwhile, Brent crude oil for September delivery advanced 1.04 dollars to close at 44.32 dollars a barrel on the London ICE Futures Exchange.
Egypt calls on UNSC to address oil spill risks off Yemen coastÂ
Catastrophic environmental, economic impacts expected if tanker explodesÂ
Global oil demand to record historic growth in 2021: OPEC
While oil demand is still ravaged by COVID-19 crisis, gradual stabilization is expected to begin in Q2 of 2020, prompting cautious growth forecast in 2021
Moody’s expects prolonged depression in oil prices
Brent to average $35/bbl in 2020 and $45/bbl in 2021, Moody’s projects
Oil prices climb after Saudi Arabia pledges further output cuts
Oil prices have recently been boosted not only by hopes that demand will soon return, but also by massive voluntary and involuntary production cuts
Steel markets further hit following COVID-19, oil slump
Sector’s preliminary recovery also hindered following bad 2019, local market dynamics provide breather
US oil will not have impact Saudi economy: Saudi Experts
Oil market will improve after production reduction in line with OPEC plus starting 1 May, for a stabilisation in third quarter, says Bin Gomaa
US oil plummets below zero for first time, Brent declines to $26 a barrel
Decline proves market is not convinced by OPEC cuts, says former petroleum minister, US oil May delivery cratered by as much as -$37 a barrel.
Edison’s oil assets acquisition devalued to $600m after Algerian fields excluded
Procedures for purchasing Edison fields to be completed in 2020
Coronavirus, price war push oil producers to cut 2020 spending plans
Energean cuts its budget in Egypt by $140m