Oil & Gas News
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Egypt considers importing liquefied natural gas to avoid shortage during summer
They said the gas would be routed through an existing facility in Jordan, although Egypt is seeking to establish its own floating terminal.
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Saudi ADES Holding signs long-term agreement to invest $66M in Egyptian oil fields
This is part of a consortium leading local Exploration and Production (E&P) player to operate and enhance production in key oil brownfields in Egypt.
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Egypt starts repaying up to $1.5 bln in oil company arrears, sources say
Egypt began accumulating arrears to companies and contractors during a long-running foreign currency shortage.
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Egypt, Bahrain probe boosting cooperation in petroleum field
Zainal stressed the importance of working on fostering cooperation in new activities that reinforce integration between the two countries.
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Molla: Oil products market in Egypt promising, growing
The petroleum products marketing market in Egypt has many advantages with promising opportunities, growth, and development.
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Egypt Plans For Gas Shortage By Lining Up FSRU
Even during the current demand off-season, Egypt is close to slipping into a gas deficit despite continued imports of around 1bn cfd from Israel.
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Agiba Petroleum Company to pump $500M in Egypt during FY24/25
Agiba is aiming for a daily production rate of approximately 30,000 barrels of crude oil and 119 million cubic feet of natural gas during FY24/25.
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After many postponements, Fuel prices are up by EGP 1
In a move to address mounting economic pressures, Egypt has announced a hike in fuel prices by LE 1 across all gasoline types.
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Egypt’s Modern Gas to develop $533K subsidiary in Saudi Arabia
The establishment of the new company is part of the petroleum ministry’s strategy and Modern Gas’ plan to expand abroad.
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EGP 99.6bn allocated for petroleum sector development in 2023/24
El-Said highlighted that Egypt Vision 2030 identifies the petroleum sector as one of seven key areas driving economic growth.
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Major Gulf bourses up on strong oil prices; Egypt extends slide
The index encountered a technical glitch earlier in the day displaying inflated gains, before the issue got fixed towards the end of the trading.
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Egypt Launches Natural Gas Company in Saudi Arabia with Capital of 2 Million Riyals
“Modern Gas Saudi Arabia” with an initial capital of 2m Saudi riyals, with a contribution of 80% of the capital structure of the Egyptian company.
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Egypt aims $145B raise in petroleum, non-petroleum exports within 6 years
Egypt plans to increase industrial production by 20 percent, enhance the green economy's contribution to the gross domestic product to minimum 5%.
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Egypt Drilling: Orion Flops As Shell Kicks Off Six-Well WDDM Campaign
Eni’s highly-anticipated Orion wildcat off Egypt’s Sinai has turned up dry. Hopes of a major 2024 find now rest on Shell’s ongoing Khufu.
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Chevron expands Egypt's natural gas reserves with $60M investment
Chevron, an American energy giant, is set to bolster Egypt's natural gas production with a significant investment of $60 million in the Mediterranean.
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Fuel prices likely to rise in Egypt: Petroleum official
Fuel prices in Egypt may witness an increase of about 10 percent – equivalent to one pound in gasoline prices.
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TAG Oil Targets Egypt's Largest Frack, Eyeing Significant Oil Market Impact
TAG Oil embarks on Egypt's largest fracking operation in the Badr Oil Field, signaling a strategic shift in the global oil landscape with over 500m.
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Co. Working To Unlock Great Oil Resources in Egypt
The Canadian oil and gas company is currently trading at about CA$0.48 per share. The return to target from this price is 129%.
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BP plans to invest $1.5bln in Egypt, Bloomberg News reports
The joint venture, expected to be formed in the second half of this year, will be 51% owned by BP and 49% by ADNOC, the companies said at the time.
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Petronas Lubricants Expands in Egypt, Aiming to Make It African Export Hub
Discover how Petronas Lubricants International is working with EV For Petroleum Services Company to expand its presence in the Egyptian market.