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Mubadala Pet

Eni completes sale of 10% stake in Shorouk concession to Mubadala Petroleum

Posted: June 20, 2018 at 10:52 pm   /   Oil & Gas

Eni has finalized a 10% stake sale in the Shorouk concession to Mubadala Petroleum, a wholly-owned subsidiary of Mubadala Investment Company. The Shorouk concession is offshore Egypt, where the supergiant Zohr gas field is located. Eni, through its subsidiary IEOC, now holds a 50% stake of the Contractor’s Share, while Rosneft holds 30%, BP 10% […]

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Aramco

Saudi Aramco to supply Egypt’s refineries for another 6 months – El Molla

Posted: June 20, 2018 at 2:03 pm   /   Oil & Gas

Saudi Aramco, the world’s largest oil producer, agreed to supply Egyptian refineries with crude oil for another six months from July, Egypt’s Petroleum Minister Tarek El Molla said on Tuesday. Aramco would supply 500,000 to one million barrels per month, it said. The oil giant began supplying Egyptian refineries in January for an initial six […]

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Solar

This is age of renewables in Egypt, regional industry bosses say

Posted: June 20, 2018 at 1:54 pm   /   Renewables

As private investment in renewable energy grows globally, Egypt is uniquely positioned as one of the brightest markets (pun only partially intended). That’s the impression given by regional market leaders in a joint interview with Bloomberg Businessweek. On the state of the market: Economic expansion driven by the government’s reforms has provided the impetus for […]

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Indorama Ventures

Thailand’s Indorama acquires 50% stake in EIPET from India’s Dhunseri

Posted: June 19, 2018 at 1:42 pm   /   Oil & Gas

Thailand’s Indorama signs acquisition agreement with India’s Dhunseri for EIPET’s Ain Sokhna facility, 50% stake in EIPET: Indorama Netherlands BV, an indirect subsidiary of Thailand’s Indorama Ventures, signed on Thursday an agreement with India’s Dhunseri Petrochem to acquire a chunk of the Egyptian Indian Polyester Company’s (EIPET) polyethylene terephthalate (PET) plant in Ain Sokhna. The […]

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LNG

Egypt buys initial LNG volumes through a 9 cargo tender – trade sources

Posted: June 19, 2018 at 1:25 pm   /   Oil & Gas

** Egyptian Natural Gas Holding has likely purchased a portion of the nine liquefied natural gas (LNG) cargoes it sought via a tender for delivery between July and August, trade sources said. ** Estimated prices for the cargoes range upward of $11 per million British thermal units (mmBtu), or around 15 percent of a barrel […]

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ADIPEC

Energy CEOs Embrace Digitalisation as New Technology Transforms Global Oil & Gas Industry

Posted: June 19, 2018 at 1:18 pm   /   Oil & Gas

Effects Expected to Unlock USD 1.6 Trillion in Industry Value to 2025; World’s Top Energy Event Shifting Gears to Encompass Evolved Programme Addressing Artificial Intelligence, Blockchain, Robotics, Sensor Technology, Machine Learning, Deep Learning, Edge Computing and More. Digitalisation is the number-one trend driving CEO decision-making in the global oil and gas sector. According to recent […]

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South Disouq

SDX announces gas discovery at South Disouq SD-4X well onshore Egypt

Posted: June 18, 2018 at 5:56 pm   /   Oil & Gas

SDX hits gas in Egypt – South Disouq appraisal to be converted to producer by end of year. UK-based player SDX Energy has found more gas in an appraisal well at its South Disouq concession in Egypt’s Nile Delta. The SD-4X probe encountered 89 feet of net conventional natural gas pay. Gas discovery at SD-4X […]

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Oxford

Oxford Energy: Egypt – a return to a balanced gas market?

Posted: June 17, 2018 at 8:32 pm   /   Oil & Gas

By: Mostefa Ouki In 2015, Egypt became a net gas importer. This unfortunate, but not unexpected, situation was the result of a decline in Egypt’s indigenous natural gas production combined with a rapidly rising domestic gas demand driven mainly by large energy price subsidies. Major changes are presently taking place on the gas supply side […]

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Fuel Egypt

Egypt hikes fuel, electricity prices in IMF-backed austerity drive

Posted: June 17, 2018 at 8:24 pm   /   Electricity & Power, Oil & Gas

Egypt has raised gasoline prices by up to 50 percent, the oil ministry said on Saturday, under an IMF reform plan calling for austerity measures that have made life tougher for ordinary Egyptians. Oil Minister Tarek El Molla said the price rises would help Egypt save up to 50 billion Egyptian pounds ($2.8 billion) in […]

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Zohr

Egypt to increase Zohr gas production to 1.75 bcf/d in August – El Molla

Posted: June 17, 2018 at 6:44 pm   /   Oil & Gas

Egypt aims to increase production at its huge Zohr offshore gas field in the Mediterranean to 1.75 billion cubic feet per day in August, Petroleum Minister Tarek El Molla said on Thursday. Molla said in a statement that recent production increases have pushed Egypt’s total natural gas production to about 6 billion cubic feet per […]

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