Oil & Gas News
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Egypt in $500 million settlement with Israel Electric Corp
Under the agreement, Egypt will pay the amount over a period of 8-1/2 years in exchange for the Israeli company dropping all other claims.
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Gas Market Regulatory Authority to transfer 25% of revenues to Finance Ministry
The authority is currently organizing the internal market for the domestic distribution of natural gas.
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Egypt's Petroleum minister confers with Saudi counterpart on joint cooperation
The meeting took place on the fringe of the World Economic Forum held at the Dead Sea resort city in Jordan.
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Shell appoints its former Tunisia chief to head Egypt business
Tunisian Kassem was named as chairman and managing director in Egypt.
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Egypt on track to end fuel subsidies
Egypt is on track to end subsidies on most fuels by June 15 as part of a reform programme led by the International Monetary Fund.
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Egypt’s non-oil exports hit $2.043 bln in January
Non-oil manufacturing exports amounted to $1.611 billion during the same month, whereas food exports registered $432 million.
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Egypt's petroleum ministry, Germany's DEA sign $20 mln energy exploration deal
The deal is in regards to oil and natural gas exploration in Ras Badran and Khaleeg El-Zeit in the Gulf of Suez.
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Egypt is shaping up to become a real energy hub
The large scale concessions awarded during the EGYPS2019 conference in Cairo showed the appetite of IOCs, such as Shell, BP and ENI in Egypt.
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Saudi Aramco and Egypt’s SUMED sign oil deals
The two signed a deal to supply fuel oil storage capacity of 165,000 cubic metres in the Red Sea port of Ain Sokhna.
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BP to invest about $1.8 bln in Egypt this year
BP Chief Executive Bob Dudley expects a crude oil price of $50-65 a barrel over the next year.
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Egypt's PM inaugurates third International Petroleum Conference in Cairo
It is being held under the auspices of President Abdel-Fattah El-Sisi and will see the participation of a number of Arab and African oil ministers.
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Egypt carrying out oil refining megaprojects worth $9 bln
The new project, which cost $1.3 billion, is meant to meet the local market's needs for oil and high-octane gasoline, the minister added.
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Project: Discharge valves (2 Lots)
Supply of (a) discharge valves for petroleum materials & (b) computers & small servers.
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Italian oil giant Eni says overall investments in Egypt total $13 billion since 2015
Egyptian presidency spokesman Bassam Rady said that Descalzi told El-Sisi about the company’s plan to increase investments in the coming period.
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Western Desert produces about 60% of Egypt's crude oil
The minister urged foreign companies to invest in the Western Desert as he expects more discoveries to be unearthed in this area.
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Budgeting for oil prices
The decline in oil prices will relieve the pressure on Egypt’s budget, but can it be sustainable?
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Mubadala and BP enter ENI Nour concession in Egypt
ENI will retain a 40% share in the concession, which is in participation with the Egyptian Natural Gas Holding Company (EGAS).
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Egypt says U.S. oil firms showing appetite for offshore projects
Petroleum Minister Tarek El Molla said he expects US energy companies to participate in two bidding rounds due before year-end.
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Essential Oil Market Report by Product, Application & Region - 2024
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