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Tag: Crude Oil

Agiba Petroleum invested $212 million in FY16/17

Posted: August 24, 2017 at 12:13 pm   /   Oil & Gas

The chairman of Agiba Petroleum Company, Alaa Al-Battal, on Tuesday announced that the company invested $212 million in fiscal year 2016/2017. Al-Battal said, during the company’s annual general meeting (AGM) to approve the financial results for FY16/17, that the firm added 17,000 barrels of oil equivalent (BOEs) to its output of crude oil and natural […]

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GPC

Egypt’s General Petroleum Company crude oil production reaches 57,000 bbl/d

Posted: August 6, 2017 at 12:31 pm   /   Oil & Gas

The increased production rates follow the discoveries of two new fields, NES-5 and NES-7. Egypt’s state-owned General Petroleum Company (GPC) has reached unprecedented production rates of 57,000 barrels of oil equivalent per day, the Petroleum Ministry said in a Friday statement. The increased production rates follow the discoveries of two new fields, NES-5 and NES-7, […]

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Crude

Egypt received half of contracted Iraqi crude oil shipments – source

Posted: July 30, 2017 at 4:15 pm   /   Oil & Gas

Egypt has so far received half of its contracted 12 mn bbl of Iraqi crude oil scheduled for delivery in 2017, a source tells Al Mal. The latest shipment is the third since May. Refiner MIDOR received 50% of the total oil delivered, while AMOC got 14%. A portion of the refined product is re-exported […]

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LNG

Emirati Fleet Energy granted approval to import LNG from Egypt

Posted: July 4, 2017 at 2:59 pm   /   Oil & Gas

UAE’s Fleet Energy Inc. has been granted approval to import liquefied natural gas (LNG) from Egypt. The Egyptian National Gas Holding Company (EGAS) has granted the Emarati company initial approval in response to a request submitted late April 2017, the company informed Egypt Oil & Gas. The quantity to be imported and value of the […]

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Agiba

Agiba commissions Enppi for EPC work on Meleiha field

Posted: June 18, 2017 at 3:00 pm   /   Oil & Gas

Eni JV Agiba has commissioned Enppi to develop crude oil shipping systems from its Meleiha field in the Western Desert, Al Mal reports. Enppi will provide engineering, procurement, and construction works for pumps on the field. A source says the project will be completed within nine months, but did not provide information on the value […]

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Crude

Iraq loads first Egypt-bound crude cargo under new deal

Posted: May 7, 2017 at 5:33 pm   /   Oil & Gas

Iraq’s oil ministry said on Thursday it had started loading a tanker with 2 million barrels of crude oil bound for Egypt, marking the first shipment under a bilateral agreement. Under a one-year agreement reached last month between Iraq and Egypt, Iraq will sell 12 million barrels of oil to Egypt, the ministry said. (Source: […]

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Egypt to repay half of its dues to oil companies in coming weeks

Posted: March 30, 2017 at 1:43 pm   /   Oil & Gas

Egypt expects to cut the $3.5 billion it owes to international oil companies by around half in coming weeks, the Egyptian oil minister said on Wednesday. “We have made a lot of progress on paying off arrears,” Tarek El Molla said at an oil and gas conference. The minister also said he expected to finalise […]

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Infographic: Into the Depths – How deep do we need to go for oil? (Fuel Fighter)

Posted: March 11, 2017 at 5:37 pm   /   Oil & Gas

Have you ever wondered how far down companies have to drill for oil? It’s quite staggering! Over the years, companies have had to go further and further into the earth in order to find Earth’s remaining oil and today we are deeper than ever. In this piece, we’ll be looking at the Z-44 Chayvo Well, […]

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Rosneft buys Egyptian Ras Gharib crude for first time in tender

Posted: March 9, 2017 at 2:37 pm   /   Oil & Gas

The trading arm of Russia’s state oil firm Rosneft bought three cargoes of Egypt’s heavy sour Ras Gharib grade, the first time the company has bought Egyptian crude, trading sources familiar with the matter said. Geneva-based Rosneft Trading won the cargoes loading in April, May and June via a sell tender by Egypt’s state owned […]

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