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Spain's Gamesa wins EPC contracts for two wind farms in Egypt with combined capacity of 160 MW

Posted: April 7, 2016 at 2:27 pm   /   Renewables

The company will install 80 of its G80-2.0 MW turbines in the Gabbal El Zayt region, located along the Red Sea coastline. Gamesa, a global technology leader in wind energy, has secured two new EPC orders* for the construction of two wind farms in Egypt. The facilities will have combined capacity of 160 MW and […]

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Seeking Alpha: Egypt's 2 Super-Massive Offshore Natural Gas Developments

Posted: April 7, 2016 at 2:14 pm   /   Oil & Gas

Seeking Alpha’s Callum Turcan provides an overview of natural gas developments in Egypt. Summary Egypt’s oil & gas industry has gotten hammered over the past five years due to civil unrest and a lackluster realized pricing regime deterring foreign investment. Once an energy exporter, Egypt quickly became an energy importer, creating a series of crises […]

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Ministry of Petroleum discusses Joint Cooperation Agreement with Italian Edison

Posted: April 7, 2016 at 1:40 pm   /   Oil & Gas

The Minister of Petroleum & Mineral Resources, Eng.Tarek El Molla, has received Mr. Marc Benayoun, Chief Executive of Edison International Group and President of the Board of Directors, where they discussed boosting bilateral relations and investment opportunities along with reviewing the executive status of the projects carried out by Edison company, currently, in Egypt. The […]

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BP signs $1 billion deals with Egypt for the development of Atoll gas field

Posted: April 6, 2016 at 8:26 pm   /   Oil & Gas

British Petroleum (BP) had signed a number of deals with Egypt concerning the development of Atoll gas discovery in March in the North Damietta Offshore Concession in the East Nile Delta, the Egyptian Ministry of Petroleum announced Tuesday. The investments of this phase are estimated at a $1 billion out of $3 billion allocated for […]

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North Africa Oil & Gas Summit 2015 Post Event Report: Egypt Roundtable

Posted: April 5, 2016 at 8:05 pm   /   Oil & Gas

Eni’s discovery in the Zohr field has been recognised as a global energy game changer; though there are some doubts surrounding the discovery’s current forecasts as some believe that they were overly optimistic and there still remains some question on whether it will convert the country into a regional gas hub due to the steep […]

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Oilpro.com back online after founder arrested

Posted: April 5, 2016 at 7:51 pm   /   Oil & Gas

Oilpro.com, a social media website for oil and gas professionals and enthusiasts, has come back online, after it had gone offline following the arrest of its founder, David Kent. A message on the website last week had said that the Oilpro.com was down due to “an outage.” David Kent was arrested last week and charged […]

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Schlumberger Completes Merger with Cameron

Posted: April 4, 2016 at 12:34 pm   /   Oil & Gas

Schlumberger Limited announced today it has closed its merger with Cameron International Corporation. As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share. Schlumberger has issued approximately 138 million shares pursuant to the merger. As a result, former Cameron […]

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Video: Downstream Industry Axens 2016 Market Outlook

Posted: April 3, 2016 at 1:16 pm   /   Oil & Gas

How did 2015 crude oversupply affect fuel demand and refined products demand? What were the consequences for refiners? What are the 2016 forecasts? How will the 2015 Paris Agreement influence this context? Axens Marketing & Communications Vice President Eric Benazzi looks back at 2015 oil and gas market highlights and gives his insight on 2016 […]

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Oilpro founder arrested and charged for hacking Rigzone

Posted: April 2, 2016 at 4:02 pm   /   Oil & Gas

David Kent, the founder of Oilpro.com, a popular social media network for oil and gas professionals, has been arrested for charges relating to computer hacking and wire fraud. According to the U.S. Department of Justice, Kent 40, was arrested on March 30, and has been charged for an alleged role in repeatedly hacking into a […]

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Eni reportedly to sell 20% Zohr stake to Lukoil

Posted: April 2, 2016 at 3:38 pm   /   Oil & Gas

Italian energy company Eni reportedly will sell 20 percent of the Zohr gas field, the largest gas discovery in the Mediterranean and made by Eni last year, to Russian Lukoil, industry sources say. The works are coming along quickly and at the end of February they received the extraction authorisation. The extraction is planned to […]

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