Latest in Tag: Oil Highlight
Latest in Tag: Oil
Total acquires Maersk Oil for $7.45bn in share and debt transaction
Total company announced in a statement that its boards and A.P. Møller-Mærsk boards have approved Total acquisition of 100% of the equity of the E&P company Maersk Oil & Gas A/S (Maersk Oil), in the form of a debit and share transactions. Both boards agreed that This proposed transaction is subject to the applicable legally …
Petroleum Ministry to re-draft contracting forms by end of 2018
The petroleum committee met foreign partners to discuss their suggestions for amendments
Increased explorations and high production rates caused by political stability: Minister of Petroleum
Minister of Petroleum and Mineral Resources Tarek El Molla said that Egypt’s success in attracting petroleum investments and increasing investment in research and exploration were driven by several factors, foremost of which is the political stability witnessed by Egypt and the continuous support of the state to the oil sector, which is full of distinct …
Foreign oil companies invested $8.1bn in Egypt in the last fiscal year
Investments are more than before by $2.2bn, up by 23%
Best performance week for Oil since beginning of 2017—Al Masah Capital Weekly Report
Oil was the star of the week, with weekly gains exceeding 9%, recording the best performance week for the commodity
92% decrease in global demand on Egypt’s oil in 2018: Credit Suisse
Nigeria and Libya production surprised to the upside, and demand growth hit a speed bump in Q1 17, says the report
Egypt to receive Iraqi oil next week
First shipment will be 2 million barrels, according to Ezz El Regal
OPEC likely to extend oil output cut
After logging their biggest one-day drop in more than a month on Wednesday, oil prices have stabilized on the news that Saudi Arabia and Kuwait signaled that a deal to extend oil production curbs was in the pipeline.Oil prices were fluctuating between modest gains and losses on Thursday, after falling 3.8 percent in the previous …
The deal of economics: Egypt needs Saudi oil, but for what price?
Experts believe the US role made the rich oil country resume its oil shipments
Egypt will receive oil shipments from KSA late March: El Molla
Aramco stopped supplying Egypt with oil six months ago
Egypt becoming an energy superpower, UK being its top oil and gas partner
Egypt has successfully restored foreign investors’ confidence in the economy, says UAE’s minister of state and CEO of ADNOC
France’s ambassador to Egypt calls for French oil and gas companies to take advantage of Egypt’s investment opportunities
It’s a historic time for Egypt, as new natural gas explorations will bring self sufficiency to the country, Marc Benayoun, CEO Edison
Ministry of Supply to increase oil, sugar prices on ration cards in February
The Ministry of Supply and the cabinet are considering substantial modifications to the ration system after the completion of the ration cards filtration by the end of January. The ministry raised the price of oil to EGP 12 instead of EGP 10, sugar to EGP 8 instead of EGP 7, and vegetable ghee to EGP …
Prime Minister calls on Petroleum Ministry to swiftly complete oil, gas development projects
Gas self-sufficiency to be achieved by end of 2019, says prime minister
The global energy sector: what to expect in 2017?
Five main trends will be leading changes in the energy industry, requiring leaders to revisit their strategies in 2017, says Booz Allen Hamilton
Could the visit of Libya’s National Oil Corporation chairperson to Cairo solve Egypt’s oil imports challenge?
On Wednesday, the chairperson of Libya’s National Oil Corporation (NOC) visited Cairo to meet with Minister of Petroleum Tarek El Molla to discuss mutual cooperation opportunities between the two countries in the oil and gas sector. The visit comes after the announcement of new gains in Libya’s oil production this week. Despite Egypt’s abundance …
Khalda Petroleum reduces cost of oil produced from Apache concession to $4.5/barrel
We saved $155,000 daily on drilling expenses during FY 2015/2016, says Abdel Azim
13.9% increase in value of Egyptian imports from East Asian countries in 2015
The Central Agency for Public Mobilization and Statistics (CAPMAS) recently issued its annual bulletin of trade exchange between Egypt and East Asian countries for 2015, including export and import statistics from Malaysia, China, India, Japan, Indonesia, Pakistan and South Korea The total value of imports from East Asian countries reached EGP 151.6bn in 2015 versus …
In Cartoon: The safety net for subsidies is being cut away at by the government
Apache to invest $960m in western desert concessions during current fiscal year
Ongoing discussion in regards to increasing FY 2017/2018 investments with Apache’s officials, says Abdel Azim
Oil company IPOs to be held in Egyptian, international stock exchanges: El Molla
The Ministry of Petroleum and Mineral Resources introduced a list including eight petroleum and petrochemical companies to the Ministry of Investment and ICapital—a National Investment Bank company and coordinator of the IPOs programme—to be in charge of offering part of their shares or increasing their capitals through the Egyptian Exchange (EGX). Minister of Petroleum Tarek …
Joint projects with Iraq in oil, drilling activities under study: Petroleum Ministry
The minister is currently visiting Iraq, discussed potential partnership with Iraqi prime minister
Parliament calls on government to review Aramco agreement, find out why October shipment suspended
The Saudi company has not informed the government about resupplying Egypt with petroleum
Aramco oil deal with Egypt still on, suspension of October shipments ‘exceptional’
Aramco informed EGPC of its inability to supply Egypt with shipments of petroleum products for October only, says Egyptian official
Increase of oil prices, costs reduction will stabilise global integrated oil and gas business: Moody’s
In terms of debt and its impact on companies’ credit profiles, the report said there would be a gradual recovery until the industry’s net debts have stabilised
Troops loyal to rival government seize Libyan oil ports
Soldiers under Libyan General Khalifa Hifter have seized at least two oil ports from a militia loyal to the UN-backed unity government. The popular military commander supports the rival cabinet in Tobruk.
Oil, gas and the ‘long transition’ to a low-carbon economy
Oil and gas industry representatives are gathering in Norway for the biennial ONS energy conference. Conference Committee Chair John Knight talks to DW about the role of oil and gas in a transitioning energy economy.
A slippery decision: Chevron oil pollution in Ecuador
Chevron has won a key challenge against a multi-billion-dollar judgment over polluting the Ecuadorian Amazon with toxic oil waste. But the case is far from over – a challenge is still pending in Canada.
Investments by foreign companies reach $8.5bn during current FY: Minister of Petroleum
$3.8bn investments of BP in Atul field for producing 300m cubic feet of gas in December 2018
Is pressure for Egypt’s reform coming from the IMF or from oil prices?
While the IMF conditionality is the focus of the reform agenda, oil prices may be driving government considerations