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Royal Dutch Shell’s profit evaporates amid oil price slide
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.
Balance of Payments overall deficit rose to $ 3.4bn during six month of FY 2015/2016
Net inflows of foreign direct investment in Egypt rose from $ 2.6bn to $ 3.1bn, says CBE
Decline in oil prices expected to affect emerging economies
Meanwhile, the expected budget deficit in the Gulf states’ will speed up the introduction of economic reform programmes, Shams conjectured
Investors are doubtful about return oil prosperity
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
Oil and Gas Player Venturesinto Power Sector
Edison is building Egypt’s first-ever electricity-generation facility financed by private-sector funds and fuelled by its own gas
Iran snubs oil giants, but optimism prevails
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.
Turkey involved in illegal oil trade with ‘Islamic State’ militants: Russia
Russia intends to destabilise the Turkish state by putting it on the defensive with trade sanctions, says analyst
Emerging markets rise for second week
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.
Oil prices trend to continue in 2016: Jadwa Investment
Company lowered its forecast for oil prices throughout 2016 to $43 per barrel
Oil company investments worth $7bn for FY 2016/2017
Gas production to increase to 4.5bn cubic feet per day in 2016
Oil prices, weak performance of international markets drag EGX down
Reduction of oil prices has prompted foreign investors to sell their stocks in the markets over the past few days.
Five year plan for oil sector revealed
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
Collapse of oil prices strikes Gulf stock markets
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%.
Arrears to foreign oil companies stand at $3bn by December
Value of the debt decreased following a reduction in global oil prices
Ganope to propose research and exploration bid in 2016
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.
Saudi Arabia to reduce its reliance on oil
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.
Oil prices hit fresh lows, dragging markets along
BP broadens stake in Egypt’s West Nile Delta project
Company acquired 22.75% in the North Alexandria concession as well as 2.75% in West Mediterranean Concession
OPEC to decide on oil export policy
US sanctions businessman buying oil from ‘Islamic State’, Al-Assad supporters
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
62 production sharing contracts signed by Egypt: EGPC Chairman
12 contracts signed in pipeline sector
Rockefeller Fund: ‘The oil age is coming to an end’
Al-Sisi, Eni CEO discuss possibility of establishing gas hub
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
Egyptian petroleum exports decline as imports increase
The Egyptian petroleum exports decreased by 40.7% last June
Lifting sanctions on Iran puts pressure on Arab oil producing states
2m barrels of crude oil daily surplus between world production and consumption
$650m value of partner’s share of gas, oil monthly with Brent decline: Petroleum Minister
Value of crude obtained daily from foreign companies declines to $380m
Oil supply forecast to shrink next year
Cheap oil threatens North Sea fields
Eni’s share value inches up after announcement of Egypt’s natural gas discovery
The value per share reached €15.2 after company’s CEO announced that he expected investments worth 6bn to $10bn for development of field
Multi-company drilling for gas in Mediterranean will occur: Sherif Ismail
We have reached an agreement with Eni over Noras field gas, with production estimated at 500m cubic feet daily, says minister