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Tag: Exploration & Production
oil price

Pharos, TransGlobe slash spending in response to oil market volatility

Posted: March 14, 2020 at 9:39 pm   /   Oil & Gas

Energy companies in Egypt are adapting to the new realities in the oil markets: The collapse in oil prices is forcing energy companies in Egypt onto the defensive: Energy companies operating in Egypt, including Pharos Energy and TransGlobe Energy, are responding to oil market volatility by slashing spending and adjusting production metrics in 2020, Energy […]

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apache

Apache responds to challenging oil market by cutting capex by 40%

Posted: March 14, 2020 at 9:32 pm   /   Oil & Gas

Apache responds to current challenging market by slashing spending: Houston-based oil and gas company Apache Corporation has announced multiple actions in response to current challenges in the oil market featuring an oil price war between Saudi Arabia and Russia following the OPEC+ breakdown, the effect of the coronavirus outbreak on global oil demand, and the […]

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Wintershall Dea

Wintershall Dea to appoint Dawn Summers as new Chief Operating Officer

Posted: March 10, 2020 at 10:06 pm   /   Oil & Gas

Dawn Summers will become COO and responsible for EMEA region by 1 June 2020. More than 25 years of experience in the international E&P industry. Dawn Summers is to be appointed to the Executive Board of Wintershall Dea. As Chief Operating Officer (COO) she will be responsible for the Business Units Germany, Norway, the Netherlands, […]

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East Med

Eastern Mediterranean Gas: What Prospects for the New Decade? ISPI Opinion

Posted: March 10, 2020 at 9:58 pm   /   Oil & Gas

This Commentary Piece by Simone Tagliapietra was originally published by ISPI (Italian Institute for International Political Studies). The last decade has seen the eastern Mediterranean region become a hotspot of the global natural gas industry, attracting increasing attention from multiple stakeholders also as a result of its high geopolitical stakes. Notwithstanding this momentum, progress has […]

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pharos

Pharos Energy confirms its interest in Shell’s Egypt upstream assets

Posted: March 8, 2020 at 1:52 pm   /   Oil & Gas

London-listed junior confirms it is in the ‘preliminary stage of its evaluation’ as part of consortium. London-listed junior Pharos Energy has confirmed it is eyeing Shell’s upstream portfolio in the Western Desert in Egypt, which was recently put for sale. Pharos Energy has confirmed its interest in purchasing Shell’s onshore oil and gas assets in […]

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shell

Apache, Cheiron, Pharos are bidding for Shell’s Egypt onshore assets – Reuters

Posted: February 27, 2020 at 1:49 pm   /   Oil & Gas

Apache Corp, Pharos Energy among bidders for Shell’s Egypt onshore assets: sources. Royal Dutch Shell’s onshore Egyptian oil and gas assets have drawn interest from American, Egyptian, Asian and Middle East bidders, two sources familiar with the matter told Reuters. Shell launched a process at the end of November to sell its onshore upstream assets […]

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Vox

Tech Giants ‪Google, Microsoft, Amazon‬ enter Oil Business using AI Machine Learning

Posted: February 18, 2020 at 1:00 pm   /   Oil & Gas

Big tech has entered the oil business: Google, Microsoft, and Amazon are keen to market themselves as leaders in energy-saving initiatives. But the same machine learning technology these companies use to reduce dependence on fossil fuels in some areas is also being used to automate oil and gas discovery and extraction, a video from Vox […]

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Shell Western Desert

Shell Egypt has not yet closed door to offers for Western Desert assets

Posted: February 15, 2020 at 3:26 pm   /   Oil & Gas

Shell Egypt has not yet closed the door to offers for its Western Desert assets, which the company is currently looking to offload, Chairman Khaled Kassem tells Reuters. Kassem did not disclose which companies have expressed interest so far. Sources say that companies were required to submit their indicative proposals on Monday, and Shell will […]

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Offshore-oil-rig

Egypt’s offshore oil & gas segment poised for growth – O&G Middle East

Posted: February 15, 2020 at 2:16 pm   /   Oil & Gas

After Egypt’s Red Sea exploration bidding round, the country’s offshore segment is ready to boom. At the close of Egypt’s Red Sea bidding round, it is clear that international oil companies see opportunity in the country, and its growth is just beginning to swell. Egypt awarded Shell, Mubadala, and Chevron exploration rights in the Red […]

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Dana Gas

Dana Gas to make decision on its Egypt assets sale by end of March

Posted: February 15, 2020 at 2:06 pm   /   Oil & Gas

Dana Gas received “numerous” bids for its Egypt assets in 2H2019 and is currently finalizing the technical and commercial evaluation ahead of making a final decision by the end of March, the company said in its annual earnings release. Investors have bid for the company’s onshore and offshore assets, CEO Patrick Allman-Ward said on an […]

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