Latest in Tag: Oil Highlight
Latest in Tag: Oil
$500m to be used for importing petroleum products
The Electricity Ministry would first make available $200m in funds in order to purchase and distribute 400,000 tonnes of mazut fuel oil as part of a strategic reserve for the country’s electricity stations.
NGOs oppose European bank’s plan to fund oil drilling in Egypt
The European Bank for Reconstruction and Development proposes a $40m loan for Kuwait Energy to drill for oil
Electricity Ministry: citizens must share burden with state
The Ministry of Electricity and Energy says the government is working on remedying the current power crisis, but dependence on fuel imports to meet domestic demands will strain state budget
French oil company buys Shell’s fuel network in Egypt
The details of the transaction and its price have not been disclosed.
Oil prices fall sharply
Brent North Sea crude for delivery in June sank $1.42 to $103.05 per barrel in London afternoon deals.
OPEC sticks to 2013 oil demand projection
The Organisation of Petroleum Exporting Countries forecast total average oil demand of 89.7 million barrels per day, up 0.8 million per day from 2012, unchanged from its previous projection.
Libya to ship oil to Egypt on soft credit terms next month
Libyan official: ‘If you are a good neighbour and something is wrong with your neighbour, you cannot feel comfortable with yourself’
EGAS explores Delta, Mediterranean for oil and gas
So far holding company receives bids from BP, Sea Dragon, Edison, Dana Gas and Pura Vida
Kamel Amr meets Iranian minister on Syrian crisis
Kamel Amr highlights importance of achieving aspirations of Syrian people
Petroleum minister to be retried
Sameh Fahmy to be retried on the case of exporting gas to Israel
Egypt reduces oil imports
Egypt has cut back on a total of nine million barrels of imported oil for the second quarter of the year, without any official explanation
Choking up
By Philip Whitfield Notice the traffic? Given up going out? Carrying a doggy bag on the shopping run? Good news. Nobody will be able to afford to drive soon. Everyone’s money will be spent paying the gas bill and keeping cool in ice baths. Who dares flick on the air-con? Bit chilly? Snuggle up in …
Rebel Economy wrap
Original sin: Where did Arab economies go wrong?
Brent Crude Oil Prices Near $116
The jump represented the largest weekly increase in two months
Iraq expels Turkish firm from oil exploration deal
The exploration deal was for a tract of land in oil-rich Basra province and had been awarded in May to Kuwait Energy, TPAO and Dragon Oil of the United Arab Emirates
Rebel Economy Wrap
US victory shines light on Egypt’s inexperience, energy problems
Egyptian-Cypriot gas exploration likely to raise tension with Israel
Foreign ministers of Egypt and Cyprus have said the prospect of cooperating to exploit offshore hydrocarbons reservoirs is vast. However a “dispute between Egypt and Israel might ensue”, petroleum agreements expert and member of the Association for International Petroleum Negotiators at Zaki Hashem& Partners, EssamTaha, told Daily News Egypt. Egypt’s Foreign Minister, Mohamed KamalAmr, said …
Rebel Economy Wrap
Egypt’s oil curse – part 2
Rebel Economy Wrap
The oil curse explained
Egypt and Cyprus to jointly explore Mediterranean deepwaters
The Cypriots have asked to use Egyptian expertise in reaching gas and oil discovery agreements, especially in deep water, and also in the seismic surveying.
EU tightens financial noose on Iran with new sanctions
Under the package, the EU bans all transactions between European and Iranian banks unless authorised in advance by national authorities.
Chavez wins another six-year term in Venezuela
The socialist regime continues for more six years in Venezuela
Iran’s economy sags under sanctions
Ayatollah Ali Khamenei ordered Iran to adopt an “economy of resistance”
Kuwait injects $60.5 million into Egypt’s gas sector
The Kuwaiti government, represented by the Kuwait Fund for Arab Economic Development (KFAED), has a signed a deal to loan 17 million Kuwaiti Dinars ( $60 million) to aid the expansion and development of the Egyptian natural gas distribution grid. In the presence of Prime Minister Hesham Qandil, the Minister of Planning and International Cooperation …
Oil prices drop after brief rebound
EU President: “Europe is on the way out of the crisis”
Presidents of Sudan and South Sudan to meet
Ethiopian summit comes amidst fighting along disputed border
Shell to sue Greenpeace
Shell and Greenpeace in a tussle over the Arctic
The volcano erupts
The outpouring of rage in Islamic countries isn’t just about a low-budget film insulting the prophet Muhammad. It is the eruption of a volcano that has been simmering for the past eleven years
Oil prices slide in nervous market
“The sudden sharp decline in crude oil prices late last night in New York remains a mystery today,” said CMC Markets analyst Michael Hewson
CAPMAS: Trade deficit has risen 48 per cent
By Hend El-Behary Egypt’s trade deficit nearly doubled, reaching EGP 17.6 billion in June, compared to EGP 11.9 billion in the same month last year, a 47.9 per cent jump according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). Exports have plunged by 18 percent, falling to EGP 14.6 billion, a decrease of …