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Tag: Iraq

Iraqi Ambassador: Egypt to receive first oil shipment from Iraq in March

Posted: February 28, 2017 at 2:56 pm   /   Oil & Gas

Iraq is expected to deliver in March the first oil shipment to Egypt as part of a one-year agreement reached by the two countries in late 2016, Iraqi Ambassador to Cairo Habib Al-Sadr said on Monday. In an interview with Al-Ahram daily newspaper, Al-Sadr said the first batch, set at one million barrels per month, […]

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Egypt inching toward oil agreement with Iraq

Posted: February 23, 2017 at 12:57 pm   /   Oil & Gas

Egypt is on the verge of signing an agreement with Iraq’s State Oil Marketing Organization (SOMO) to import a 1 mn barrels of crude oil each month, Iraq’s Ambassador to Cairo Habib Hady Al Sadr tells Al Ahram. Iraq has already signed the contracts and sent them to Egypt, he adds, and the first shipment […]

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Egypt nearing deal with Iraq in search for crude oil imports

Posted: February 16, 2017 at 9:52 pm   /   Oil & Gas

Egypt is nearing a deal to import crude oil from Iraq and is looking to other countries to help secure supply, Egyptian General Petroleum Corporation’s chief Tarek al-Hadidi said. Cairo’s search for additional crude comes after Saudi Arabia’s state oil firm Saudi Aramco halted shipments of oil products to Egypt last year. The $23 billion […]

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UAE's Dana Gas freezes Egypt investments over debts

Posted: February 11, 2017 at 2:33 pm   /   Oil & Gas

Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company said. Political and economic turbulence in Egypt and Iraqi Kurdistan mean Dana Gas has struggled to secure revenues in either country, once again hitting its profit on […]

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El Molla: Egypt committed to repaying $3.5 billion to foreign oil firms

Posted: January 26, 2017 at 12:11 pm   /   Oil & Gas

Egypt is committed to repaying the $3.5 billion it owes in arrears to foreign oil companies but a foreign currency shortage has made the drawing down of those debts more difficult, Petroleum Minister Tarek El Molla said on Tuesday. “We are committed and we will continue decreasing the numbers as we have done over the […]

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UAE's Dana Gas to review Egypt investment plans if not repaid dues

Posted: November 10, 2016 at 1:18 pm   /   Oil & Gas

Dana Gas will review its 2017 investment plans for Egypt if the North African country doesn’t repay the full amount it owes the United Arab Emirates-based energy firm by the end of the year, its chief executive said on Wednesday. Patrick Allman-Ward was speaking after the firm swung to a profit in the third quarter, […]

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Egypt cuts energy deal with Kuwait Energy amid strains with Saudis

Posted: November 4, 2016 at 2:23 pm   /   Oil & Gas

Egypt, looking elsewhere to fill its energy needs amid a row with Saudi Arabia, signed an agreement with a Kuwaiti firm that will give Cairo a 20 percent stake in an Iraqi oil field. Kuwait Energy Plc signed an agreement with Egypt General Petroleum Corporation (EGPC) for a 20 percent participating interest for the Siba […]

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Iraqi President meets with Egyptian Minister of Petroleum

Posted: November 1, 2016 at 1:11 pm   /   Oil & Gas

Iraqi President Fuad Masum met with Egyptian Minister of Petroleum Eng. Tarek El-Molla and an accompanying delegation in Baghdad to discuss bilateral ties between the two countries. The talks were held on forming stronger ties between the two countries in the fields of industry, gas and Petroleum. Iraqi President and Eng. Tarek El-Molla discussed possible […]

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El Molla in talks with Iraqi Prime Minister for cooperation in drilling activities

Posted: October 31, 2016 at 3:09 pm   /   Oil & Gas

Oil minister Tarek El Molla discussed with Iraqi Prime Minister Haider Al Abadi opportunities to cooperate in the oil sector during his visit to Baghdad, Al Shorouk reported. EGPC signed a partnership agreement with Kuwait Energy for developing Seba natural gas field in Iraq last week, granting 20% of the field to EGPC. Talks also […]

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EGPC signs partnership agreement with Kuwait Energy for 15% of Iraq’s Seba gas field

Posted: October 27, 2016 at 2:08 pm   /   Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) has signed a partnership agreement with Kuwait Energy for the Seba gas field located in southeast Basra, Iraq. The agreement stipulates that EGPC owns 15% of this field. The project is considered the second partnership agreement between EGPC and Kuwait Energy, the first partnership being the Fayhaa petroleum field […]

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