Newsletter subscribe
Archive

Egypt may not meet 2016 target to pay back oil arrears – PM

Posted: February 10, 2016 at 1:20 pm   /   Oil & Gas

Lower oil and gas revenues mean the debt will ‘at least [be reduced] to a very reasonable’ level by end of year, Prime Minister Ismail says. Egypt may miss its target of repaying the $3 billion it owes to foreign oil and gas companies by the end of 2016, the Egyptian Prime Minister said on […]

No Comments read more

Siemens signs long-term service agreement for existing power stations in Egypt

Posted: February 10, 2016 at 11:38 am   /   Electricity & Power

Solution upgrades to help meet demand peaks at three power plants currently operating in Egypt Will help ensure reliability and availability of country’s energy supply Siemens has extended a long-term contract to provide service and maintenance, as well as component upgrades, at the Nubaria, Talkha and El Kureimat power stations in Egypt. The agreement was […]

No Comments read more

IEA: Oil price recovery will be short-lived

Posted: February 10, 2016 at 11:15 am   /   Oil & Gas

A recent rise in oil prices is a “false dawn” and the oversupply of crude is set to worsen, according to the International Energy Agency (IEA). The IEA expects oil stocks to grow by two million barrels a day in the first quarter and 1.5 million barrels a day in the following three months. In […]

No Comments read more
bp hq

As Big Oil shrinks, boards plot different paths out of crisis

Posted: February 9, 2016 at 6:11 pm   /   Oil & Gas

As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world’s top oil companies […]

No Comments read more

SDX Energy: Positive Development Well results boosts Production from NW Gemsa

Posted: February 8, 2016 at 3:49 pm   /   Oil & Gas

Al Amir S.E. #23 Development Well Test Results – 3,860 BOPD! SDX Energy Inc., an oil & gas exploration and production company with assets in Egypt & Cameroon, is pleased to announce the Al Amir SE 23 development well in North West Gemsa, has encountered significant oil bearing reservoir sections in both the Kareem Rahmi […]

No Comments read more

EBRD: $341 million loan to upgrade Egypt’s oil and gas infrastructure

Posted: February 7, 2016 at 2:43 pm   /   Oil & Gas

The European Bank for Reconstruction and Development (EBRD): The funds will be used to construct and operate a bulk-liquids terminal. A US$ 341 million facility to Sonker, an Egyptian company providing hydrocarbon storage and bunkering, will support a significant upgrade of the country’s oil and gas infrastructure and will contribute to the energy security of […]

No Comments read more

Eni and EGPC establish JV for Zohr ‘super giant’ gas field

Posted: February 6, 2016 at 3:05 pm   /   Oil & Gas

Eni and Egyptian General Petroleum Corporation (EGPC) have announced to enter into a joint venture to create Petro Shorouk. Petro Shorouk will be a subsidiary of Petrobel and will be tasked to complete the first stage of development of the Zohr gas field by the end of 2017, according to Daily News Egypt reports. The […]

No Comments read more

Video: What is LNG? Turning natural gas into liquid (Shell)

Posted: February 5, 2016 at 7:36 pm   /   Oil & Gas

As global demand for natural gas grows, companies are using advanced technology to transport it from source to customers. Gas can be piped over relatively short distances. But cooling the gas to -162°C (-260°F) turns it to liquid for easier, safe shipment to faraway markets overseas. Shell provided the natural gas for the first liquefied […]

No Comments read more

Italy eyes energy projects in Egypt

Posted: February 4, 2016 at 5:01 pm   /   Oil & Gas

Italian Minister of Economy Federica Guidi previously said Egypt is keen on attracting Italian investments Italy has agreed to upgrade Egypt’s Middle East Oil Refinery (MIDOR), participate in building a complex for petrochemical industries in Ain Sokhna, and update a number of combined-cycle power plants. The projects are also expected to increase energy efficiency, Head […]

No Comments read more

Infographic: Siemens will boost Egypt's power generation capacity by 50%

Posted: February 3, 2016 at 2:46 pm   /   Electricity & Power

Three natural gas-fired combined cycle power plants – each powered by eight Siemens H-Class gas turbines – and up to 600 wind turbines will boost Egypt’s power generation capacity by more than 50 percent compared to the currently installed base. Beginning in 2017, they will add power to the grid in stages and will add […]

No Comments read more