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Tag: Crude Oil

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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TransGlobe gives Q3 2017 Operations Update, says production drops in Egypt over well servicing delays

Posted: October 17, 2017 at 1:14 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: Produced on average ~14.9 MBoepd (~12.2 MBopd Egypt, ~2.6 MBoepd Canada), down from Q2 due to well servicing in Egypt and voluntary shut-in of dry gas in Canada during September. […]

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KPC renews crude oil storage and transportation contract with SUMED

Posted: October 17, 2017 at 12:43 pm   /   Oil & Gas

Kuwait Petroleum Corporation (KPC) announced Monday it has renewed its crude oil storage and transportation contract with Egypt’s Arab Petroleum Pipelines Company (SUMED). KPC said in a press statement that the renewal of the contract was signed on the sidelines of the third Kuwait Oil & Gas Show and Conference (KOGS 2017) held in Kuwait […]

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El Molla: 4 refining projects to be completed in 4 years with a cost of $8.3 billion

Posted: September 26, 2017 at 1:01 pm   /   Oil & Gas

Minister of Petroleum Tarek El Molla: Ministry targets implementing 8 projects to develop gas fields worth $17.5 billion. Minister of Petroleum and Mineral Resources Tarek El Molla told Daily News Egypt that the Ministry of Petroleum is seeking to implement 12 projects to develop gas fields at a cost of $17.5 billion, next to completing […]

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Saudi Aramco considers using Egypt to refine its crude oil for sale to Europe

Posted: September 12, 2017 at 8:04 pm   /   Oil & Gas

Good news for Egypt’s energy hub ambitions: Saudi Aramco is considering using excess capacity at Egyptian refineries to refine Saudi crude and use Egypt as a marketing hub for refined Saudi oil products, according to Ahram Gate. The suggested plan is to ship the crude through the SUMED pipeline and use Sidi Kreir as a […]

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