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Al-Sisi urges more cooperation with Italy’s Eni in oil sector
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 coast
Catastrophic environmental, economic impacts expected if tanker explodes
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
Draft 2020-2021 budget sets oil price at $61per barrel
State employees’ wages to increase by 11.3%: Finance Minister
Oil drops below $25/barrel for first time since 2003
Increase in Saudi oil exports leads to excess supply, says Medhat Youssef
MENA is vulnerable to oil prices decline, Russia more prepared than previous shocks: IIF
How will ongoing oil tension impact MENA region?
Oil declines 22% trading; KSA announces production increase
Global trade war and Coronavirus threaten oil markets: former petroleum minister
Government’s amendment to oil agreements, price review prompt industry to rise again: Shell
Shell Egypt’s total natural gas production level is 350m cubic feet per day, says Moataz Darwish
Finance Ministry downgrades oil prices’ expectations to $64 per barrel
Interest rates to slightly decrease by end of FY2019/20, says report
Oil falls to $54.45 as Russia requests time to assess additional OPEC production cuts
Coronavirus outbreak threatens the oil market by falling global demand: Source
Petroleum Minister says oil production need to increase
El-Molla reviews crude oil production plans
9 oil, gas search agreements signed at $452m investment in Mediterranean, Western Desert
The first agreement in the East Horus region, Western Desert, is with the Egyptian General Petroleum Corporation (EGPC) and Shell, comes at a minimum investment of approximately $24.5m, and a signature grant of $23m to drill five wells.
Oil prices jump to highest level in more than 3 months, recording $68.66
Brent rise will not affect Egypt, thanks to hedging mechanism: Source
Egypt implements 27 petroleum projects with $31bn investments: El-Molla
Egypt’s gas production increase to 7.2bn scf/day, $5bn investments to raise fuel storage capacity
Egypt signs four petroleum agreements for oil, gas exploration with investments worth $155m
Minister of Petroleum and Mineral Resources, Tarek El Molla stated that the first agreement is signed between the Egyptian General Petroleum Corporation and International Egyptian Oil Company (IEOC) for oil and gas exploration in the south-eastern Siwa concession area in the Western Desert, with a minimum investment of about $17m, allocating about $1.2m to drill four new wells.
Oil prices fall to $64.19 barrel due to US-China trade war
Brent rate increased by 1.5% on Friday after OPEC’s agreement to further reduce production