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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.
Russia intends to destabilise the Turkish state by putting it on the defensive with trade sanctions, says analyst
Since the beginning of the oil price crisis, emerging markets have been experience a notable decline; the worst experienced in the market since the economic crisis in 2008.
Company lowered its forecast for oil prices throughout 2016 to $43 per barrel
Gas production to increase to 4.5bn cubic feet per day in 2016
Reduction of oil prices has prompted foreign investors to sell their stocks in the markets over the past few days.
During the previous fiscal year (FY) 2014/2015, the oil and gas demand increased by 0.5m tonnes to a total of 73m tonnes. The share of demanded oil was 38m tonnes, of which 36% was fuel oil, 36% was gas oil, 16% gasoline, and 11% LPG
Saudi Arabia’s market was the hardest hit, losing 9.93%, followed by Qatar with 6.35%, while Dubai’s financial market lost about 5.86%. Further, Abu Dhabi lost 4%, Kuwait shed 2.49%, and Muscat declined by 0.76%.
Value of the debt decreased following a reduction in global oil prices
Ganope Chairman Abu Bakr Ibrahim told Daily News Egypt the new bid is awaiting approvals from the relevant entities regarding the sites, their number, and areas.
In a bid to shore up the Middle East nation’s finances battered by the global slump in crude prices, Saudi King Salman has pledged to diversify the country’s economy and veer off its heavy dependence on oil.
Company acquired 22.75% in the North Alexandria concession as well as 2.75% in West Mediterranean Concession
The US has slapped sanctions on a number of individuals accused of supporting Syria’s government. The blacklisted names include a “middleman” who buys oil from “Islamic State” and the head of the World Chess Federation
12 contracts signed in pipeline sector
Both parties discussed forming a gas hub in eastern Mediterranean Sea to make Egyptian transport and export facilities available for nearby discoveries, says Italian giant
The Egyptian petroleum exports decreased by 40.7% last June
2m barrels of crude oil daily surplus between world production and consumption
Value of crude obtained daily from foreign companies declines to $380m
The value per share reached €15.2 after company’s CEO announced that he expected investments worth 6bn to $10bn for development of field
We have reached an agreement with Eni over Noras field gas, with production estimated at 500m cubic feet daily, says minister