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Tag: Crude Oil
Al Hamra

Egyptian PM inaugurates $100m marine crude oil pipeline at El Hamra port

Posted: August 24, 2020 at 2:17 pm   /   Oil & Gas

The Egyptian Prime Minister, Mostafa Madbouly, on Wednesday inaugurated the eight-kilometre El-Hamra-Shamandoura crude oil pipeline at a cost of $100 million. The marine pipeline, a key for developing the capabilities of the El-Hamra Petroleum Port on the Mediterranean Sea, will raise the port’s shipping capacity to 1 million barrels of crude oil per day (bpd), […]

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transglobe map

TransGlobe Energy announces its 2020 capital budget, 2019 year-end reserves

Posted: February 5, 2020 at 1:57 pm   /   Oil & Gas

TransGlobe Energy has announced its 2020 capital budget, 2020 production guidance, and 2019 year-end reserves. All dollar values are expressed in US dollars unless otherwise stated. 2020 BUDGET HIGHLIGHTS TransGlobe has set its 2020 capital budget at $37.1 MM (before capitalized G&A); Egypt $23.7 MM Canada $13.4 MM 2020 average production guidance is set at 14.5 […]

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Abu Sennan

United Oil & Gas provides update on Abu Sennan, Rockhopper acquisition

Posted: January 26, 2020 at 3:13 pm   /   Oil & Gas

AIM-listed United Oil & Gas has provided an update on the proposed acquisition of Rockhopper Egypt from Rockhopper Exploration.  Rockhopper Egypt holds a 22% non-operating interest in the producing Abu Sennan concession, onshore Egypt. This update provides further detail regarding the ASH-2 well which was recently drilled at Abu Sennan, current production at Abu Sennan and […]

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Pharos

Pharos Energy announces trading and Egypt operations update

Posted: January 8, 2020 at 1:26 pm   /   Oil & Gas

Pharos Energy has issued a trading and operations update to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2019. This is in advance of the Company’s Preliminary results due to be announced on 11 March 2020. The information contained herein has not been audited and […]

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Zarubezhneft

Russian Zarubezhneft joins two offshore oil concessions in Egypt

Posted: December 25, 2019 at 1:10 pm   /   Oil & Gas

Russian state-owned energy company Zarubezhneft has joined two offshore oil concessions in Egypt under a production-sharing agreement, Reuters’ Arabic service reports, without disclosing the value of the agreement or the other party. The report indicates that one of the blocks is in southeast Ras El Ush and the other is East of Gabal El Zeit […]

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Wintershall Dea Libya

Wintershall Dea signs two EPSA agreements with Libya’s NOC

Posted: December 17, 2019 at 1:09 pm   /   Oil & Gas

Petroleum Concessions 96 and 97 converted to EPSA IV standard. Wintershall Dea affiliate WIAG will transfer operatorship of Sirte Basin fields to new Joint Operating Company by mid-2020. Wintershall Aktiengesellschaft (WIAG) and Libya’s National Oil Corporation (NOC) today have signed two Exploration and Production Sharing Agreements (EPSAs) for Areas 91 (former Concession 96) and 107 […]

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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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