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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
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.