Latest in Energy Highlight
Latest in Energy
British energy giant BP recorded multi-billion dollar losses in the second quarter due to payments linked to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. Low oil prices also weighed on results. The loss was "mainly relating to the recently announced agreements in principle to settle claims arising from the 2010 Deepwater Horizon accident," said Bob Dudley,…
The gas flow between Iran and Turkey has been shut down after an explosion on a natural gas pipeline in the Turkish province of Agri. The country's energy minister has suggested that Kurdish rebels were to blame. The fire, which began Monday in Turkey's eastern Agri province was quickly brought under control, Turkey's energy minister Taner Yildiz said on Tuesday….
Bolivia has given the green light to oil exploration in seven of 22 protected natural reserves. President Evo Morales said this will not harm the natural world, and challenged environmental opposition. Bolivia's President Evo Morales recently announced that seven of 22 protected national parks will be opened for oil exploration in 2016, as current reserves of the country are expected…
The world's largest chemical company, BASF, has said continuously low oil prices have taken their toll on its second-quarter performance. But executives insisted the firm was holding up well despite volatile markets. A strong rise in demand for synthetic materials helped BASF boost its operating profit in the second quarter, the German chemicals giant reported Friday. Operating earnings before special…
By the rate of consumption of crude oil which is around 4.5bn tons per year from 2010, and which is growing every year, oil is expected to be depleted by the year 2050.
JPMorgan Chase raised its expectations for oil for the years 2015 and 2016 in light of the improvement in demand, which will result in a lower number of crude oil barrels in the global markets.
Egyptian ministers seeking to maximise the reliance on RDF and agriculture waste, along with coal, in energy mixture
Mehleb says interim government has yet to decide whether it will increase fuel and diesel prices
To 19 billion cubic metres (bcm) annually from 16 bcm
Warning that time was running out for the planet to avoid worst-case climate change
Reuters – Kuwait’s national oil group will provide Egypt with 85,000 barrels of crude oil per day under a new contract which boosts supply from the Gulf Arab state by 31%, state news agency KUNA reported on Tuesday. Kuwait Petroleum Corporation (KPC) will also increase its supply of diesel and jet fuel to 1.5m tonnes …
Temperature rises would sharply raise risks to food and water supplies and could trigger irreversible damage
State-owned Egyptian Natural Gas Holding Company (EGAS) plans to launch an international tender for deep water gas exploration next year
By Oxford Business Group The start of production at a concession in Egypt’s Nile Delta basin by a German firm has come as welcome news, an indication of the sizable potential offered by the country’s offshore blocks. With local consumption growing, the North African state is looking to balance the need to expand output to …
Russian ministers’ visit expected to touch on atomic power
Chinese state-owned Sinopec will buy a one-third share in the Egyptian oil and natural gas business of US firm Apache Corp.
“Qatar is pressuring Egypt” for Morsi supporter crackdowns, says Chamber of Commerce chairman for petroleum products
Ministry of Water and Irrigation reviews possibility of using solar energy to improve water pumps.
Oriental Planet: Middle East Oil & Gas sector expected to maintain steady growth in spite of significant developments in global energy domain
The strike – now in its third week – came after protests first emerged in June and has virtually stopped production and exports at key terminals in Ras Lanuf, Sedra, Brega and Zoueitina on the central coast.
Apache Corporation reports oil and gas discoveries in Egypt’s western desert
Iran has meanwhile called for lower production this week in order to maintain and even boost crude oil price levels.
Egypt and South Korea will cooperate in the field of nuclear power development
Confirms agreement between Iraq State Oil Company and Egypt for pipeline
Egyptian National Gas had allegedly asked the jointly owned Israeli-Egyptian East Mediterranean Gas Company (EGM) to cancel the agreement.
Claims the State is seeking to restructure subsidies
Sourcing of funding for EGP 5.5bn project include World Bank, African Development Bank and European Investment Bank
Daily information briefs from all the governorate’s fuelling stations will be publically posted online
Tariq al-Mala was appointed vice president of the company, tasked with overseeing operations on behalf of the Petroleum Ministry, succeeding Amru Mustafa
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