Latest in Tag: Oil Highlight
Latest in Tag: Oil
EU-funded project could save 20m tonnes of oil equivalent by 2035
EU holds workshop with Egyptian ministries to implement TARES project
$400m dues owed to RWE for its stake in Suez Oil Company fields
RWE’s contract in Gulf of Suez concession ends in July 2017; no request for renewal
Nigeria’s Avengers claim Niger Delta oil pipeline attacks
An oil pipeline belonging to the Italian oil company Agip came under several attacks in Nigeria’s oil-rich Bayelsa state. On Friday, the oil militants, the Niger Delta Avengers, claimed responsibility for the attacks.
BP announces new discovery in Egypt’s East Mediterranean
The discovery is located 12 kilometres from the shoreline
Niger Delta crisis escalates
Nigeria’s oil-dependent economy is under siege from militants who are targeting oil and gas installations in the Niger Delta. President Muhammadu Buhari is to make his first visit to the region this week.
NBE considers granting EGP 7bn to economic sectors in coming period: deputy chairperson
The bank settled EGP 2bn of non-performing debts from July 2015 until the end of April 2016, says Aboul Fotouh
Royal Dutch Shell’s profit evaporates amid oil price slide
The Anglo-Dutch energy giant saw its after-tax profit reduced to a trickle in the first quarter, suffering from falling oil prices and hit by huge costs arising from its takeover of British rival BG.
Balance of Payments overall deficit rose to $ 3.4bn during six month of FY 2015/2016
Net inflows of foreign direct investment in Egypt rose from $ 2.6bn to $ 3.1bn, says CBE
Decline in oil prices expected to affect emerging economies
Meanwhile, the expected budget deficit in the Gulf states’ will speed up the introduction of economic reform programmes, Shams conjectured
Investors are doubtful about return oil prosperity
Approximately 46% of participants said they believe oil will not rise to $100 per barrel again. Some 42% expected that it will reach that level only by 2025
Oil and Gas Player Venturesinto Power Sector
Edison is building Egypt’s first-ever electricity-generation facility financed by private-sector funds and fuelled by its own gas
Iran snubs oil giants, but optimism prevails
All eyes were on Iran as international leaders and global markets alike root for an end to the flood of cheap oil that’s wreaking havoc on the world economy. But Tehran has stopped short of providing relief.
Turkey involved in illegal oil trade with ‘Islamic State’ militants: Russia
Russia intends to destabilise the Turkish state by putting it on the defensive with trade sanctions, says analyst
Emerging markets rise for second week
Since the beginning of the oil price crisis, emerging markets have been experience a notable decline; the worst experienced in the market since the economic crisis in 2008.
Oil prices trend to continue in 2016: Jadwa Investment
Company lowered its forecast for oil prices throughout 2016 to $43 per barrel
Oil company investments worth $7bn for FY 2016/2017
Gas production to increase to 4.5bn cubic feet per day in 2016
Oil prices, weak performance of international markets drag EGX down
Reduction of oil prices has prompted foreign investors to sell their stocks in the markets over the past few days.
Five year plan for oil sector revealed
During the previous fiscal year (FY) 2014/2015, the oil and gas demand increased by 0.5m tonnes to a total of 73m tonnes. The share of demanded oil was 38m tonnes, of which 36% was fuel oil, 36% was gas oil, 16% gasoline, and 11% LPG
Collapse of oil prices strikes Gulf stock markets
Saudi Arabia’s market was the hardest hit, losing 9.93%, followed by Qatar with 6.35%, while Dubai’s financial market lost about 5.86%. Further, Abu Dhabi lost 4%, Kuwait shed 2.49%, and Muscat declined by 0.76%.
Arrears to foreign oil companies stand at $3bn by December
Value of the debt decreased following a reduction in global oil prices
Ganope to propose research and exploration bid in 2016
Ganope Chairman Abu Bakr Ibrahim told Daily News Egypt the new bid is awaiting approvals from the relevant entities regarding the sites, their number, and areas.
Saudi Arabia to reduce its reliance on oil
In a bid to shore up the Middle East nation’s finances battered by the global slump in crude prices, Saudi King Salman has pledged to diversify the country’s economy and veer off its heavy dependence on oil.
Oil prices hit fresh lows, dragging markets along
A barrel of the black stuff, which consistently traded above $100 between 2011 and 2013, now costs around $35, as OPEC continues to pump out the oil. Reasons include a bid to halt rival industries like shale “fracking.” Oil prices sank to the lowest level in seven years on Monday, hammering stocks and raising concern …
BP broadens stake in Egypt’s West Nile Delta project
Company acquired 22.75% in the North Alexandria concession as well as 2.75% in West Mediterranean Concession
OPEC to decide on oil export policy
The world’s net oil exporters aren’t expected to announce a production cut at their meeting in Vienna, despite a report yesterday that Saudi Arabia would propose one. But surprises can’t be ruled out either. Oil ministers from Angola and Iran have said they don’t expect the Organization of the Petroleum Exporting Countries (OPEC) to adjust …
US sanctions businessman buying oil from ‘Islamic State’, Al-Assad supporters
The US has slapped sanctions on a number of individuals accused of supporting Syria’s government. The blacklisted names include a “middleman” who buys oil from “Islamic State” and the head of the World Chess Federation
62 production sharing contracts signed by Egypt: EGPC Chairman
12 contracts signed in pipeline sector
Rockefeller Fund: ‘The oil age is coming to an end’
Stephen Heintz, president of the Rockefeller Brothers Fund, explains to DW how it makes perfect sense that a fund which got rich on oil is now divesting from fossil fuels. With its announcement to pull out of oil and coal, the Rockefeller Brothers Fund shifted nearly a billion dollars of capital out of fossil fuels …
Al-Sisi, Eni CEO discuss possibility of establishing gas hub
Both parties discussed forming a gas hub in eastern Mediterranean Sea to make Egyptian transport and export facilities available for nearby discoveries, says Italian giant
Egyptian petroleum exports decline as imports increase
The Egyptian petroleum exports decreased by 40.7% last June