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Crude oil prices down Daily News Egypt

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


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.

Daily News Egypt