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Tag: Crude Oil
KNOC

Korea National Oil Corporation looks to increase its investment in Egypt

Posted: August 22, 2019 at 11:46 am   /   Oil & Gas

Korea National Oil Corporation is looking to increase its investment in Egypt and raise crude production from 12k barrels per day currently, the Oil Ministry announced in a statement. CEO Su Yeong Yang said during a meeting with Oil Minister Tarek El Molla on Tuesday that the company is interested in bidding for new exploration […]

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Oil

Egypt forecasting crude oil prices at $64-68 in its new hedging contracts

Posted: July 17, 2019 at 1:25 pm   /   Oil & Gas

Egypt eyes pricing crude at USD 64-68 in new hedging contract: Crude oil prices will be set at USD 64-68 per bbl in the government’s fuel hedging contracts with international banks, which are due to be renewed soon for the new fiscal year, an unnamed government source estimated, according to Al Mal. Finance Minister Mohamed […]

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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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Aramco to supply Egypt's refineries with crude oil for 6 months

Posted: March 4, 2018 at 8:38 pm   /   Oil & Gas

Saudi Aramco, the world’s largest oil producer, agreed to supply Egyptian refineries with crude oil for six months, starting January 2018, Egypt’s Petroleum Minister Tarek El Molla told Reuters on Thursday. Aramco will supply 500,000 barrels per month of crude oil to Egyptian refineries, Molla added. (Source: Reuters)

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Egypt renews Iraqi crude oil import agreement for another year

Posted: January 22, 2018 at 2:39 pm   /   Oil & Gas

Egypt has reportedly renewed an agreement to import crude oil from Iraq, an official at state petroleum buyer EGPC tells Reuters’ Arabic service. The contract was renewed for another year and will see Egypt import 12 million barrels of Iraqi crude that will be delivered in 2 million barrel shipments every two months starting January, […]

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TransGlobe Energy announces Q4 2017 Egypt operations update

Posted: December 21, 2017 at 2:10 pm   /   Oil & Gas

TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (TSX:TGL) (NASDAQ:TGA) announces an operational update. All dollar values are expressed in US dollars unless otherwise stated. Highlights: Annual 2017 average production is trending to ~15.4 MBoepd, a 27% increase over 2016. Lifted and sold ~510 thousand barrels of entitlement crude oil in Egypt in late November for […]

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Saudi Aramco supplied 1 million barrels of crude oil to Egypt in Nov, Dec

Posted: December 20, 2017 at 1:31 pm   /   Oil & Gas

Saudi Aramco, the world’s largest oil producer, has supplied 1 million barrels of crude oil to Egyptian refineries, Egypt’s Petroleum Minister Tarek El Molla told Reuters on Sunday. Egypt and Saudi Arabia will be studying the economic feasibility of continuing to refine Saudi crude in Egyptian refineries by the start of 2018, El Molla said. […]

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Egypt's petroleum exports surge by 16.8% in Q1 of FY2017/18

Posted: December 13, 2017 at 8:05 pm   /   Oil & Gas

Egypt’s exports of crude oil and petroleum products increased 16.8 percent during the first quarter of financial year 2017/2018, data from the Central Bank of Egypt (CBE) showed Sunday. Petroleum exports amounted to $1.8 billion in the first quarter (July-September), compared to $1.5 billion in the same period last year, according to the CBE. The […]

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Aramco likely to begin refining fuel in Egypt in 1Q2018 – officials

Posted: November 27, 2017 at 1:17 pm   /   Oil & Gas

Saudi Aramco is likely to begin refining crude oil in Egyptian refineries in 1Q2018, an official from the Oil Ministry tells Al Shorouk, initially at the Middle East Oil Refinery (MIDOR). Egypt will receive the 700k tons of fuel per month from Aramco — under the existing five-year fuel supply agreement — for MIDOR’s refineries, […]

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Abu Qir production rose to 66 bcf of natural gas, 1.2m barrels of crude oil

Posted: October 24, 2017 at 2:14 pm   /   Oil & Gas

The total gas production of Abu Qir Petroleum Company rose to 66 billion cubic feet during the 2016/2017 fiscal year, Petroleum Minister Tarek el Molla said Monday. The company’s output of crude oil and its derivatives also rose to 1.2 million barrels, the minister said. Abu Qir Company is a joint venture between the Egyptian […]

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