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The Ministry of Supply and the cabinet are considering substantial modifications to the ration system after the completion of the ration cards filtration by the end of January. The ministry raised the price of oil to EGP 12 instead of EGP 10, sugar to EGP 8 instead of EGP 7, and vegetable ghee to EGP …
Gas self-sufficiency to be achieved by end of 2019, says prime minister
Five main trends will be leading changes in the energy industry, requiring leaders to revisit their strategies in 2017, says Booz Allen Hamilton
On Wednesday, the chairperson of Libya’s National Oil Corporation (NOC) visited Cairo to meet with Minister of Petroleum Tarek El Molla to discuss mutual cooperation opportunities between the two countries in the oil and gas sector. The visit comes after the announcement of new gains in Libya’s oil production this week. Despite Egypt’s abundance …
We saved $155,000 daily on drilling expenses during FY 2015/2016, says Abdel Azim
The Central Agency for Public Mobilization and Statistics (CAPMAS) recently issued its annual bulletin of trade exchange between Egypt and East Asian countries for 2015, including export and import statistics from Malaysia, China, India, Japan, Indonesia, Pakistan and South Korea The total value of imports from East Asian countries reached EGP 151.6bn in 2015 versus …
Ongoing discussion in regards to increasing FY 2017/2018 investments with Apache’s officials, says Abdel Azim
The Ministry of Petroleum and Mineral Resources introduced a list including eight petroleum and petrochemical companies to the Ministry of Investment and ICapital—a National Investment Bank company and coordinator of the IPOs programme—to be in charge of offering part of their shares or increasing their capitals through the Egyptian Exchange (EGX). Minister of Petroleum Tarek …
The minister is currently visiting Iraq, discussed potential partnership with Iraqi prime minister
The Saudi company has not informed the government about resupplying Egypt with petroleum
Aramco informed EGPC of its inability to supply Egypt with shipments of petroleum products for October only, says Egyptian official
In terms of debt and its impact on companies’ credit profiles, the report said there would be a gradual recovery until the industry’s net debts have stabilised
Soldiers under Libyan General Khalifa Hifter have seized at least two oil ports from a militia loyal to the UN-backed unity government. The popular military commander supports the rival cabinet in Tobruk.
Oil and gas industry representatives are gathering in Norway for the biennial ONS energy conference. Conference Committee Chair John Knight talks to DW about the role of oil and gas in a transitioning energy economy.
Chevron has won a key challenge against a multi-billion-dollar judgment over polluting the Ecuadorian Amazon with toxic oil waste. But the case is far from over – a challenge is still pending in Canada.
$3.8bn investments of BP in Atul field for producing 300m cubic feet of gas in December 2018
While the IMF conditionality is the focus of the reform agenda, oil prices may be driving government considerations
EU holds workshop with Egyptian ministries to implement TARES project
RWE’s contract in Gulf of Suez concession ends in July 2017; no request for renewal
An oil pipeline belonging to the Italian oil company Agip came under several attacks in Nigeria’s oil-rich Bayelsa state. On Friday, the oil militants, the Niger Delta Avengers, claimed responsibility for the attacks.
The discovery is located 12 kilometres from the shoreline
Nigeria’s oil-dependent economy is under siege from militants who are targeting oil and gas installations in the Niger Delta. President Muhammadu Buhari is to make his first visit to the region this week.
The bank settled EGP 2bn of non-performing debts from July 2015 until the end of April 2016, says Aboul Fotouh
The Anglo-Dutch energy giant saw its after-tax profit reduced to a trickle in the first quarter, suffering from falling oil prices and hit by huge costs arising from its takeover of British rival BG.
Net inflows of foreign direct investment in Egypt rose from $ 2.6bn to $ 3.1bn, says CBE
Meanwhile, the expected budget deficit in the Gulf states’ will speed up the introduction of economic reform programmes, Shams conjectured
Approximately 46% of participants said they believe oil will not rise to $100 per barrel again. Some 42% expected that it will reach that level only by 2025
Edison is building Egypt’s first-ever electricity-generation facility financed by private-sector funds and fuelled by its own gas
All eyes were on Iran as international leaders and global markets alike root for an end to the flood of cheap oil that’s wreaking havoc on the world economy. But Tehran has stopped short of providing relief.