Oil & Gas News
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ExxonMobil Considers Investing in Marketing, Distributing Petroleum Products in Egypt
The company is investing in two areas to search for gas in the Mediterranean Sea, in which work will begin early in the new year.
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Israel reroutes gas exports to Egypt via Jordan
All Israeli gas pipeline exports to Egypt have been redirected through the FAJR gas pipeline in Jordan, following a halt in flows via the East Mediterranean Gas (EMG) pipeline.
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Chevron halts gas exports via EMG pipeline from Israel to Egypt
The 90-kilometer pipeline is the main link between the Chevron-operated Leviathan offshore gas field and Egypt.
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Egypt's petroleum sector aims to drill 110 exploratory gas wells until 2030
Egypt's petroleum sector is planning to drill 110 exploratory gas wells by 2030 with an investment of approx 4.8 billion dollars.
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Egypt plans oil projects worth $4.5bln
According to the report, the strategy also focused on “turning Egypt into a regional oil and gas marketing centre.”
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Eni Secures Three Exploration Contracts in Egypt
Eni will explore two of the Mediterranean Sea blocks independently while the third will be explored in partnership with bp and QatarEnergy.
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Egypt talks with Eni, BP to enhance investment opportunities
Egypt's Minister of Petroleum and Mineral Resources, Engineer Tarek El Molla, discusses business collaborations with CEOs of British Petroleum and Eni.
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BP Secures Offshore Exploration Block in Egypt
British Petroleum (BP) wins a bid for offshore exploration in Egypt. The oil giant secures this as part of the 2022 International Bid Round by the Egyptian Natural Gas Holding Company.
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Investments in Egypt's oil & gas sector in 2014-2023 amounts to LE1.2T
Between 2014 and 2023, the Egyptian government invested LE1.2 trillion in the oil and gas sector, evidenced by completed projects worth LE844.2bn and others in-progress worth LE344bn.
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Egypt converted over half a million vehicles to run on natural gas
Egypt has converted 507,000 vehicles to run on natural gas as part of its national initiative meant to replace old cars that use traditional gasoline.
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Egypt to hedge oil supply during FY2023/2024, finance minister
Egypt engages directly in the oil derivatives market to lock in supplies, becoming a significant market player. An official revealed that Egypt has purchased hedging contracts covering 35% of its expected oil imports.
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BP and ENI among the winners in Egypt licensing round
The companies paid $7.5 million in signature bonuses and have committed to investments totalling about $281 million.
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Oil and gas rich Egypt launches major new licensing round
Egypt has unveiled a new licensing round, offering up 23 diverse onshore and offshore blocks in proven basins and in frontier areas.
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Egypt Targets $9 Billion in Oil, Gas Investments within Year
The targeted investments in the petroleum sector until the end of the current fiscal year are estimated at between 8.5 and 9 billion dollars.
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Kuwait’s KUFPEC acquires 40 percent in Shell Egypt’s Nile Delta offshore block 3
Kuwait Foreign Petroleum Exploration Company (KUFPEC) signed an agreement with BG International, a subsidiary of Shell.
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Egypt Approves GASCO Project to Boost Western Desert Gas Complex Capacity
The Gasco project is expected to provide employment opportunities for about 2,500 workers with an investment cost of about $380 million.
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UAE's ADNOC starts official operations in Egypt: Petroleum Ministry
ADNOC Distribution, the UAE's largest fuel and retail distributor, inaugurated its first fuel service station in Egypt, read an official statement.
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Kuwait’s KUFPEC acquires 40 percent in Shell Egypt’s Nile Delta offshore block 3
Kuwait Foreign Petroleum Exploration Company (KUFPEC) signed an agreement with BG International, a subsidiary of Shell.
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OPEC Fund allocates $10M to support commodities imports in Egypt
The OPEC Fund for International Development supports food security in Egypt with a $10 million allocation for commodities imports. This is part of a $200 million trade finance facility in collaboration with ITFC.
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Egypt to expand oil and gas production from Zohr gas field
The government of Egypt aims to substantially increase the production of oil and gas within the Zohr field.