Oil & Gas News
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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.
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Romania's CIS Gaz opens new branch in Egypt
The company said it has also delivered the first batch of Romanian-manufactured equipment for the Egyptian government's Hayah Karima project.
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Egyptian investors consider pumping $380 million to produce sustainable aviation fuel
This fuel is derived from a variety of ingredients ranging from waste oils and fats to sugar crops and some trees and grasses.
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Shell Global aims for new exploration discoveries in Egypt
Shell aims to acquire new concession areas as part of its efforts to increase production, according to El-Molla.
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A New Dawn in Egypt: LUKOIL and EGPC Forge Path for Oil Exploration in the Eastern Desert
Explore the game-changing agreement between EGPC and LUKOIL in Egypt's Eastern Desert, set to enhance oil production, and drive investments.
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Egypt eyeing $17 billion in oil and gas investments by 2030
Oil Minister also meets BP and Adnoc officials to discuss their Egypt gas joint venture.
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Mulla: Oil, gas production in Egypt set to increase with $17B Investments
The plan also includes enhancing crude oil refining capacities and bolstering petrochemical production, with a total investment of approximately $17 b
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BP plans to inject new investments in Egypt amounting to $1.5B
This comes in light of maximizing the use of land and maritime facilities established to accelerate development and production plans to meet demands.
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ADNOC withdraws from Wataniya deal, TAQA Arabia among final offers
The Abu Dhabi National Oil Company (ADNOC) pulled out from the process of bidding on Egyptian Wataniya Petroleum, just as the deal was almost closed.