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Tag: Iraq
Kuwait Energy

Kuwait Energy looking to sell Egypt assets – sources

Posted: May 21, 2018 at 2:12 pm   /   Oil & Gas

Kuwait Energy looks to spin-off Egyptian assets: Kuwait Energy has hired investment bank Perella Weinberg Partners to advise on possibly divesting its stakes in Egypt and Iraq, sources close to the matter tell Reuters. Plans include spinning off Egypt assets that include interests in four oil and gas fields, including the Abu Sennan concession. Kuwait […]

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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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Croatia's CROSCO signs $55 million deal with UGV to drill 12 gas wells in Egypt, Iraq

Posted: August 3, 2017 at 2:35 pm   /   Oil & Gas

Ukrainia’s UkrGasVydobuvannya (UGV) has said it signed a 47 million euro ($55.6 million) contract with Croatia’s CROSCO for the drilling of 12 natural gas wells in Egypt and Iraq. UGV has signed two contracts with CROSCO, each for the drilling of six wells at EMSCO-605 land rig in Egypt and R-67 land rig in Iraq, […]

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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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Egypt Iraq

Iraqi VP: Iraq, Egypt agreed on establishing joint oil and gas companies

Posted: June 20, 2017 at 8:08 pm   /   Oil & Gas

Iraqi VP Iyad Allawi said he agreed with Egyptian officials on establishing joint companies for oil, natural gas and petrochemicals, adding that he will convince officials in Iraq of the importance of Egypt’s regional role, one which cannot be played by either Iran, Turkey or the U.S. During a press conference held in Cairo on […]

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Kuwait Energy sells 15% of its share in Siba gas field to EGPC

Posted: May 23, 2017 at 1:48 pm   /   Oil & Gas

The Basra Oil Company signed an amendment for Siba gas field contract that will enable Egyptian General Petroleum Corporation (EGPC) to enter as a partner in Kuwait Energy’s share by 15%. Kuwait Energy has a share of 45% in the project, as well as 30% for the Turkish Petroleum Corporation (TPAO) and 25% for Missan […]

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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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Dana Gas to restructure debt bond due in October

Posted: May 4, 2017 at 2:19 pm   /   Oil & Gas

• Energy company asks creditors to discuss $700 million of debt. • Dana Gas cites difficulty collecting payments in Egypt, Iraq. Dana Gas PJSC will ask bondholders to accept changed terms on $700 million of debt coming due in October as the energy producer based in the United Arab Emirates seeks to restructure debt for […]

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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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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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