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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
Oil prices hike ahead of OPEC meeting after large production cuts expectations
Brent increased by $0.75 to $61.57, WTI up by $0.65 to $56.75
Leopard: everything must change so everything can stay the same?
The great Italian writer Lampedusa has his central character Prince Tancredi articulate the most profound statement about conservative politics ever made: “If we want things to stay as they are,” he tells his uncle, “things will have to change.”
Shell close to finalising sale of its oil assets in Western Desert
The company intends to progress in maritime tenders to expand its business, says source
Egypt aims to increase oil exports revenues to $8.5bn in FY 2019/20
Quantities include the foreign partner’s share at an average price of $55 a barrel, say government sources
Oil prices plunged to $59.12 per barrel on the back of increased US stockpiles
Decline in global demand for oil threatens to OPEC’s plans to cut production, says Youssef
Two missiles hit Iranian oil tanker near Saudi port
The Iranian government vows to take a ‘proper response’
KSA’s GDP is currently 40% reliant on oil exports: Colliers International
SAR 61.4bn, estimated size of relevant entertainment market in the Kingdom by 2030, says Colliers
Government stabilises fuel prices as hedging contracts defy oil fluctuations
A government source told Daily News Egypt that the government has fixed the prices of petroleum products, in parallel with fixing the value of hedging against price fluctuations, which protects the state budget from bearing any additional burdens.
Egypt targets 3.8% growth in oil, condensates production in FY 2019/20
Refining 3.6m tonnes of crude oil, gas production increases to 51.1m tonnes, says source
Oil loses $5 a barrel after Aramco’s announcement of restoring full production
Market to face oil glut in coming period, prices to fall under $60: Source
Baltim production increases to 100m scf/day
The ministry of petroleum said in a statement that the remaining five wells in the field will be developed during the second quarter of next year.
Trump says he does not want war after attack on Saudi oil facilities
UK, Germany agree on need for international response to Saudi attack: UK PM’s spokesperson
Aramco’s oil facilities still within range of our attacks “could be targeted at any moment”: Houthis
Movement said Saudi Arabia should stop its “aggression, blockade on Yemen”
Iran denies US accusations of carrying attack against Aramco oil facilities
Iraqi government dismissed media reports about use of its territory in attack
UK accuses Iran of selling oil from seized oil tanker Adrian Darya 1 to Syria
Iranian ambassador to UK summoned by UK Foreign Secretary
Government aims to renew hedging against oil price fluctuations
Oil price fell below $60 a barrel, contrary to expectations, according to industry source
Qarun Petroleum Company invests $237m in FY 2019/20
Moreover, he said that the average daily production of the company during the year reached 31,700 barrels of oil per day, while the company’s total investment amounted to about $182m.
Investments in oil sector reach $10.633bn in FY2020
Foreign companies pump 94.3% of investments, state-owned companies represent 5.7%
Egypt’s Petroleum Minister to participate in South Sudan Oil & Power Conference
Egypt, South Sudan own 90% of oil production in Nile Basin
Houthis claim attack on Saudi Arabia’s Shaybah oil field
The facilities attacked included a refinery and oil storage, Al Masirah said, citing a military spokesman. It did not say when the attack took place.
Egypt’s PMI amounts to 50.3 in July: IHS Markit
Overall, firms are generally positive regarding future condition of economy, says David Owen
Oil prices fall to $61.15 per barrel as trade war subsides
Decline in oil prices to reduce fuel subsidies to 10% in Q1 of FY 2019/20
Iran captures new tanker in Gulf claiming it was smuggling oil
Pompeo says he is confident that US could build maritime coalition in Gulf
Libya’s largest oil field shut down
El Sharara oil field is located at the south-western Murzuq Desert.
Government hedges against oil price increase at under $70 per barrel
Renewal of hedging contracts every 3 months with review of oil value in markets: Source