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Beach Energy appoints new Chief Executive Officer

Posted: January 14, 2016 at 8:53 pm   /   Oil & Gas

Beach Energy Ltd is pleased to announce the appointment of Mr Matthew Kay as its new Chief Executive Officer, effective 17 July 2016 or such earlier date as is available and mutually agreed. Mr Kay holds tertiary qualifications in economics and a Master of Business Administration. He has over 25 years’ experience, and extensive senior […]

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Dana Gas Announces New Senior Management Appointments

Posted: January 14, 2016 at 3:03 pm   /   Oil & Gas

Dana Gas PJSC, the Middle East’s leading publicly listed natural gas company, has announced the following key senior management appointments. Chris Hearne was appointed as the Chief Financial Officer of the Company on 4 January 2016.  Prior to joining Dana Gas, Mr Hearne was with Serica Energy plc, an international oil exploration and production company […]

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Emerson to Automate Carbon Holding's Tahrir Petrochemicals Complex in $150 million Contract

Posted: January 14, 2016 at 2:52 pm   /   Oil & Gas

Automation and reliability programs for world’s largest naphtha cracker plant will support efficient, high-availability production of plastics and related materials for local and export markets. Emerson and Carbon Holdings, the privately owned Egyptian petrochemical firm, today announced that Emerson Process Management has been selected to provide automation and reliability technologies and services for Carbon Holdings’ […]

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Eni's sale of Saipem stake gets European Commission clearance

Posted: January 13, 2016 at 3:02 pm   /   Oil & Gas

Eni: sale of a stake in Saipem, the antitrust condition precedent has been satisfied after the clearance of the European Commission Reference is made to the sale by Eni S.p.A. (“Eni”) to Fondo Strategico Italiano S.p.A. of a stake in Saipem S.p.A., consisting of 55,176,364 ordinary shares that correspond to 12.5% of Saipem’s share capital […]

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Dana Gas to cut costs and jobs by half at Head Office, will continue to invest in Egypt

Posted: January 13, 2016 at 2:57 pm   /   Oil & Gas

Abu Dhabi-listed Dana Gas aims to slash its head office workforce by 40 percent and cut general and administrative costs by half between 2015 and early 2016, its chief executive said on Tuesday. The energy company will continue to invest in Egypt and sees its production in the country increasing, Patrick Allman-Ward told reporters on […]

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Shell's shareholder Standard Life to vote against BG deal

Posted: January 11, 2016 at 4:55 pm   /   Oil & Gas

Royal Dutch Shell’s bid to acquire BG Group was dealt a blow on Friday when a first major shareholder said it would vote against the $49 billion deal due to a weak outlook for oil prices and risks related to BG’s assets in Brazil. Standard Life Investment’s announcement came on the same day influential shareholder […]

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Fall of oil price pushes EGPC to halt tender for new exploration

Posted: January 10, 2016 at 7:57 pm   /   Oil & Gas

The price of Brent on international markets recorded $34.4 on Wednesday and reached a maximum of $45 in November. The Egyptian General Petroleum Corporation (EGPC) postponed offering new exploration tenders for oil and gas for foreign companies in ten areas until prices of Brent oil stabilise in international markets, instead of offering tenders early in […]

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Egypt approves Chinese coal-fired power plant proposals

Posted: January 10, 2016 at 7:49 pm   /   Electricity & Power

Egypt’s cabinet has approved two conditional contracts with Chinese firms to produce electricity from coal-fired plants with a total capacity of over 4000 megawatts, Electricity Minister Mohamed Shaker said. China’s Dongfang Electric Corporation plans to build a plant with a capacity of 1,980 megawatts while Shanghi Electric submitted an offer to construct four plants with […]

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Production in Zohr fields to begin before end of 2017

Posted: January 6, 2016 at 7:15 pm   /   Oil & Gas

EGPC Chairman: Procedures of establishing Petro Shorouk will begin to manage and develop Zohr field. Petrobel is nearing the official formation of Petro Shorouk, the company’s subsidiary that will be tasked with completing the first developmental phase of the Zohr natural gas field before the end of 2017. The Italian Eni discovered Zohr field in […]

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French banks to finance MIDOR Refinery expansion

Posted: January 6, 2016 at 7:12 pm   /   Oil & Gas

Egypt’s oil refinery MIDOR will finance its planned expansion, borrowing $1.2 billion from French lenders Credit Agricole and BNP Paribas, a loan that will be guaranteed by the Italian central bank and the Italian export development authority, oil minister Tarek El-Molla told Egyptian state news daily Al-Ahram. MIDOR signed in April two deals worth $1.4 […]

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